Meridian Small Cap Growth Fund
Schedule of Investments
Schedule of Investments
September 30, 2021 (Unaudited)
Shares | Value | |
Common Stocks - 87.0% | ||
Communication Services - 1.5% | ||
Entertainment - 0.6% | ||
Reservoir Media, Inc.1,2 | 800,000 | $7,288,000 |
Interactive Media & Services - 0.9% | ||
Actua Corp.1 | 1,232,871 | 12,329 |
ZipRecruiter, Inc. Class A1 | 457,424 | 12,624,902 |
12,637,231 | ||
Total Communication Services | 19,925,231 | |
Consumer Discretionary - 12.2% | ||
Auto Components - 0.9% | ||
Cooper-Standard Holdings, Inc.1 | 324,008 | 7,099,015 |
Fox Factory Holding Corp.1 | 34,876 | 5,040,977 |
12,139,992 | ||
Diversified Consumer Services - 2.2% | ||
Frontdoor, Inc.1 | 327,989 | 13,742,739 |
Grand Canyon Education, Inc.1 | 176,510 | 15,525,820 |
29,268,559 | ||
Hotels, Restaurants & Leisure - 1.1% | ||
Dutch Bros, Inc. Class A1,2 | 102,605 | 4,444,848 |
PlayAGS, Inc.1 | 1,247,453 | 9,829,930 |
14,274,778 | ||
Household Durables - 0.8% | ||
Purple Innovation, Inc.1 | 517,246 | 10,872,511 |
Internet & Direct Marketing Retail - 0.5% | ||
Shutterstock, Inc. | 62,948 | 7,133,267 |
Leisure Products - 1.1% | ||
Clarus Corp. | 386,722 | 9,911,685 |
Malibu Boats, Inc. Class A1 | 74,088 | 5,184,678 |
15,096,363 | ||
Specialty Retail - 2.1% | ||
Sally Beauty Holdings, Inc.1 | 1,709,824 | 28,810,535 |
Textiles, Apparel & Luxury Goods - 3.5% | ||
Carter's, Inc. | 49,237 | 4,787,806 |
Hanesbrands, Inc. | 687,783 | 11,802,356 |
Skechers U.S.A., Inc. Class A1 | 746,115 | 31,426,364 |
48,016,526 | ||
Total Consumer Discretionary | 165,612,531 | |
Consumer Staples - 0.9% | ||
Food & Staples Retailing - 0.4% | ||
BJ's Wholesale Club Holdings, Inc.1,2 | 96,450 | 5,297,034 |
Tobacco - 0.5% | ||
Turning Point Brands, Inc. | 155,050 | 7,403,637 |
Total Consumer Staples | 12,700,671 |
Shares | Value | |
Energy - 0.4% | ||
Energy Equipment & Services - 0.1% | ||
NCS Multistage Holdings, Inc.1 | 54,143 | $1,589,097 |
Oil, Gas & Consumable Fuels - 0.3% | ||
Evolution Petroleum Corp. | 759,743 | 4,315,340 |
Total Energy | 5,904,437 | |
Financials - 2.9% | ||
Capital Markets - 2.9% | ||
Build Acquisition Corp.1 | 248,849 | 2,488,490 |
FinServ Acquisition Corp.1 | 816,667 | 8,052,337 |
FinServ Acquisition Corp. Founder Shares Acquisition Date: 2/22/21, Cost $01,3 | 83,333 | 410,831 |
FinServ Acquisition Corp. Private Placement Units Acquisition Date: 2/12/21, Cost $208,3301,3 | 20,833 | 102,707 |
Tishman Speyer Innovation Corp. II1 | 380,576 | 3,805,760 |
Vector Acquisition Corp. Acquisition Date: 8/24/21, Cost $6,380,0401,3 | 638,004 | 8,747,354 |
Warrior Technologies Acquisition Co.1 | 746,752 | 7,482,455 |
WisdomTree Investments, Inc. | 1,484,966 | 8,419,757 |
Total Financials | 39,509,691 | |
Health Care - 26.6% | ||
Biotechnology - 12.0% | ||
4D Molecular Therapeutics, Inc.1,2 | 242,306 | 6,534,993 |
AbSci Corp. Acquisition Date: 10/19/20 - 3/18/21, Cost $3,839,6711,3 | 523,148 | 5,171,580 |
Adagio Therapeutics, Inc.1,2 | 83,913 | 3,544,485 |
Adagio Therapeutics, Inc. Acquisition Date: 4/16/21, Cost $3,299,9831,3 | 211,305 | 7,586,695 |
Albireo Pharma, Inc.1 | 208,174 | 6,495,029 |
C4 Therapeutics, Inc.1,2 | 155,538 | 6,949,438 |
CareDx, Inc.1 | 114,068 | 7,228,489 |
Centrexion Therapeutics Corp. (Dividend Shares) Acquisition Date: 3/14/19, Cost $01,3,4 | 17,318 | 2,598 |
DBV Technologies SA ADR (France)1,2 | 814,300 | 3,990,070 |
Meridian Funds | 1 | www.meridianfund.com |
Meridian Small Cap Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares | Value | |
Deciphera Pharmaceuticals, Inc.1 | 154,117 | $5,236,896 |
Erasca, Inc.1,2 | 211,544 | 4,488,964 |
Heron Therapeutics, Inc.1,2 | 608,728 | 6,507,302 |
Inhibrx, Inc.1,2 | 317,316 | 10,569,796 |
Instil Bio, Inc.1,2 | 285,105 | 5,096,252 |
Kiniksa Pharmaceuticals Ltd. Class A1,2 | 608,152 | 6,926,851 |
Kodiak Sciences, Inc.1,2 | 88,603 | 8,504,116 |
MaxCyte, Inc.1,2 | 504,888 | 6,164,682 |
NexImmune, Inc.1 | 540,985 | 8,190,513 |
Olema Pharmaceuticals, Inc.1,2 | 223,345 | 6,155,388 |
ORIC Pharmaceuticals, Inc.1 | 333,041 | 6,963,887 |
PMV Pharmaceuticals, Inc.1,2 | 209,213 | 6,234,547 |
Precision BioSciences, Inc.1 | 247,883 | 2,860,570 |
Relay Therapeutics, Inc.1,2 | 192,123 | 6,057,638 |
SpringWorks Therapeutics, Inc.1 | 84,820 | 5,380,981 |
TCR2 Therapeutics, Inc.1 | 452,615 | 3,851,754 |
Veracyte, Inc.1,2 | 240,181 | 11,156,407 |
Viking Therapeutics, Inc.1,2 | 955,840 | 6,002,675 |
163,852,596 | ||
Health Care Equipment & Supplies - 5.7% | ||
Axogen, Inc.1 | 629,662 | 9,948,659 |
Cardiovascular Systems, Inc.1 | 296,770 | 9,742,959 |
CryoLife, Inc.1,2 | 230,789 | 5,144,287 |
Itamar Medical Ltd. ADR (Israel)1 | 40,118 | 1,212,366 |
Merit Medical Systems, Inc.1 | 295,551 | 21,220,562 |
Nevro Corp. 1 | 49,363 | 5,744,866 |
Pulmonx Corp.1 | 139,799 | 5,029,968 |
Quidel Corp.1,2 | 107,937 | 15,235,307 |
Talis Biomedical Corp.1,2 | 692,759 | 4,329,744 |
77,608,718 | ||
Health Care Providers & Services - 3.1% | ||
AMN Healthcare Services, Inc.1 | 83,483 | 9,579,674 |
Cano Health, Inc.1,2 | 785,161 | 9,955,842 |
HealthEquity, Inc.1 | 172,876 | 11,195,450 |
MEDNAX, Inc.1 | 249,610 | 7,096,412 |
Privia Health Group, Inc.1,2 | 157,143 | 3,702,289 |
41,529,667 | ||
Health Care Technology - 3.0% | ||
Certara, Inc.1 | 69,293 | 2,293,598 |
Definitive Healthcare Corp.1 | 121,388 | 5,199,048 |
Inovalon Holdings, Inc. Class A1 | 335,626 | 13,522,372 |
Omnicell, Inc.1 | 71,120 | 10,556,342 |
Renalytix Plc ADR1,2 | 231,243 | 4,636,422 |
Vocera Communications, Inc.1 | 111,370 | 5,096,291 |
41,304,073 |
Shares | Value | |
Life Sciences Tools & Services - 1.4% | ||
Codex DNA, Inc.1 | 335,143 | $3,730,142 |
Syneos Health, Inc.1 | 167,584 | 14,660,248 |
18,390,390 | ||
Pharmaceuticals - 1.4% | ||
Arvinas, Inc.1 | 78,972 | 6,489,919 |
DICE Therapeutics, Inc.1 | 170,799 | 5,593,667 |
Revance Therapeutics, Inc.1,2 | 232,479 | 6,476,865 |
18,560,451 | ||
Total Health Care | 361,245,895 | |
Industrials - 27.1% | ||
Aerospace & Defense - 0.5% | ||
Byrna Technologies, Inc.1,2 | 296,921 | 6,490,693 |
Air Freight & Logistics - 2.8% | ||
Echo Global Logistics, Inc.1 | 598,899 | 28,573,471 |
Forward Air Corp. | 107,450 | 8,920,499 |
37,493,970 | ||
Commercial Services & Supplies - 11.3% | ||
ABM Industries, Inc. | 289,420 | 13,026,794 |
ACV Auctions, Inc. Class A1 | 662,749 | 11,856,580 |
Cimpress Plc (Ireland)1,2 | 70,948 | 6,160,415 |
Clean Harbors, Inc.1 | 155,178 | 16,118,339 |
Heritage-Crystal Clean, Inc.1 | 1,611,834 | 46,710,949 |
Legalzoom.com, Inc.1,2 | 263,838 | 6,965,323 |
Montrose Environmental Group, Inc.1 | 53,027 | 3,273,887 |
Ritchie Bros. Auctioneers, Inc. (Canada) | 484,477 | 29,872,852 |
SP Plus Corp.1 | 319,574 | 9,801,335 |
Xometry, Inc. Acquisition Date: 7/20/20 - 9/4/20, Cost $2,031,7281,3 | 198,676 | 9,738,998 |
153,525,472 | ||
Machinery - 2.9% | ||
Graham Corp. | 329,759 | 4,089,011 |
John Bean Technologies Corp.2 | 49,674 | 6,981,681 |
Middleby Corp. (The)1,2 | 59,825 | 10,200,761 |
Tennant Co. | 246,360 | 18,218,322 |
39,489,775 | ||
Marine - 3.3% | ||
Kirby Corp.1 | 191,474 | 9,183,093 |
Matson, Inc. | 432,219 | 34,884,395 |
44,067,488 | ||
Professional Services - 5.6% | ||
Alight, Inc. Class A1,2 | 849,775 | 9,755,417 |
First Advantage Corp.1 | 614,686 | 11,709,768 |
Forrester Research, Inc.1 | 250,438 | 12,336,576 |
Meridian Funds | 2 | www.meridianfund.com |
Meridian Small Cap Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares | Value | |
TriNet Group, Inc.1 | 289,294 | $27,361,427 |
TrueBlue, Inc.1 | 558,354 | 15,120,226 |
76,283,414 | ||
Road & Rail - 0.2% | ||
Heartland Express, Inc. | 192,383 | 3,081,976 |
Trading Companies & Distributors - 0.5% | ||
Hudson Technologies, Inc.1 | 2,057,488 | 7,262,933 |
Total Industrials | 367,695,721 | |
Information Technology - 14.4% | ||
Electronic Equipment & Instruments - 0.7% | ||
CTS Corp. | 316,353 | 9,778,471 |
IT Services - 0.6% | ||
International Money Express, Inc.1 | 445,152 | 7,434,039 |
Semiconductors & Semiconductor Equipment - 0.4% | ||
Allegro MicroSystems, Inc. (Japan)1 | 177,904 | 5,685,812 |
Software - 12.7% | ||
2U, Inc.1,2 | 814,369 | 27,338,367 |
8x8, Inc.1 | 577,591 | 13,509,853 |
Alkami Technology, Inc.1 | 282,193 | 6,964,523 |
Asure Software, Inc.1 | 754,674 | 6,799,613 |
Benefitfocus, Inc.1 | 604,163 | 6,706,209 |
ChannelAdvisor Corp.1 | 167,309 | 4,221,206 |
Datto Holding Corp.1,2 | 329,603 | 7,877,512 |
ForgeRock, Inc. Class A1 | 172,764 | 6,725,702 |
Latch, Inc.1,2 | 689,539 | 7,771,105 |
Mimecast Ltd.1 | 342,704 | 21,795,974 |
Model N, Inc.1 | 202,255 | 6,775,542 |
Momentive Global, Inc.1 | 1,390,931 | 27,262,248 |
Ping Identity Holding Corp.1,2 | 251,842 | 6,187,758 |
Upland Software, Inc.1 | 197,633 | 6,608,848 |
Vertex, Inc. Class A1,2 | 462,077 | 8,881,120 |
Zuora, Inc. Class A1 | 461,682 | 7,654,688 |
173,080,268 | ||
Total Information Technology | 195,978,590 | |
Materials - 1.0% | ||
Containers & Packaging - 1.0% | ||
Ranpak Holdings Corp.1 | 514,030 | 13,786,285 |
Total Materials | 13,786,285 | |
Total Common Stocks - 87.0% (Cost $802,740,943) | 1,182,359,052 |
Shares | Value | |
Warrants - 0.1% | ||
Industrials - 0.1% | ||
Professional Services - 0.1% | ||
Alight, Inc. Strike Price $11.50, Expires 12/31/281 | 296,696 | $904,923 |
Total Industrials | 904,923 | |
Information Technology - 0.0% | ||
Software - 0.0% | ||
Latch, Inc. Strike Price $11.50, Expires 12/31/261 | 249,990 | 824,967 |
Total Information Technology | 824,967 | |
Total Warrants - 0.1% (Cost $1,003,864) | 1,729,890 | |
Preferred Stocks - 3.8% | ||
Consumer Discretionary - 0.7% | ||
Internet & Direct Marketing Retail - 0.5% | ||
Evolve Vacation Rental Network, Inc. Series 8 Acquisition Date: 6/15/18, Cost $3,999,9991,3,4 | 470,013 | 7,242,900 |
Specialty Retail - 0.2% | ||
Capsule Corp. Series D Acquisition Date: 4/8/21, Cost $2,000,0001,3,4 | 138,011 | 2,000,000 |
Total Consumer Discretionary | 9,242,900 | |
Health Care - 1.6% | ||
Biotechnology - 0.1% | ||
Centrexion Therapeutics Corp. Acquisition Date: 12/18/17, Cost $2,995,0071,3,4 | 1,663,893 | 831,947 |
Health Care Equipment & Supplies - 1.5% | ||
Adagio Medical, Inc. Series E Acquisition Date: 11/9/20, Cost $4,000,0031,3,4 | 176,913 | 4,373,289 |
Beta Bionics, Inc. Series B Acquisition Date: 10/9/18, Cost $3,999,9761,3,4 | 26,631 | 4,518,748 |
Binx Health, Inc. Series E Acquisition Date: 5/26/21, Cost $6,500,0411,3,4 | 24,179 | 6,500,041 |
Sonendo, Inc. Series E Acquisition Date: 12/10/19, Cost $4,999,9951,3,4 | 454,545 | 5,436,358 |
20,828,436 | ||
Total Health Care | 21,660,383 |
Meridian Funds | 3 | www.meridianfund.com |
Meridian Small Cap Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares | Value | |
Information Technology - 1.1% | ||
Communications Equipment - 0.7% | ||
Starry, Inc. Series C Acquisition Date: 5/14/18, Cost $3,780,0001,3,4 | 4,099,783 | $7,256,616 |
Starry, Inc. Series D Acquisition Date: 3/6/19, Cost $1,665,0001,3,4 | 1,164,336 | 2,060,875 |
9,317,491 | ||
Software - 0.4% | ||
Dataminr, Inc. Series F Acquisition Date: 3/22/21, Cost $5,655,3201,3,4 | 128,530 | 5,655,320 |
Total Information Technology | 14,972,811 | |
Real Estate - 0.4% | ||
Real Estate Management & Development - 0.4% | ||
Apartment List, Inc. Series D Acquisition Date: 12/21/20 - 12/24/20, Cost $5,999,9981,3,4 | 1,642,485 | 6,356,417 |
Total Real Estate | 6,356,417 | |
Total Preferred Stocks - 3.8% (Cost $45,595,339) | 52,232,511 | |
Private Investment Fund - 0.2% | ||
Quail Investment Holdings, LLC Acquisition Date: 9/1/20, Cost $2,917,6951,3,5 | 2,918 | 2,802,096 |
Total Private Investment Fund - 0.2% (Cost $2,917,695) | 2,802,096 |
Shares/ Principal Amount | ||
Short-Term Investments - 6.1%6 | ||
Money Market Funds - 3.8% | ||
BlackRock Liquidity Funds, FedFund, Institutional Class, 0.03% | 8,046,000 | 8,046,000 |
Federated Treasury Obligations Fund, Institutional Class, 0.03% | 5,971,000 | 5,971,000 |
Shares/ Principal Amount | Value | |
Fidelity Investments Money Market Government Portfolio, Institutional Class, 0.01% | 6,618,000 | $6,618,000 |
Goldman Sachs Financial Square Government Fund, Institutional Class, 0.03% | 7,576,000 | 7,576,000 |
Invesco Short Term Investments, Government & Agency Portfolio, Institutional Class, 0.03% | 7,730,000 | 7,730,000 |
JPMorgan U.S. Government Money Market Fund, Institutional Class, 0.03% | 8,068,000 | 8,068,000 |
Morgan Stanley Institutional Liquidity Funds, Government Portfolio, Institutional Class, 0.03% | 8,130,000 | 8,130,000 |
Total Money Market Funds (Cost $52,139,000) | 52,139,000 | |
Repurchase Agreements - 2.3% | ||
Bank of America Securities, Inc., dated 9/30/21, due 10/1/21, 0.05% total to be received $5,943,860 (collateralized by various U.S. Government Sponsored Agency, 1.50% - 5.00%, 9/1/31 - 7/1/60, totaling $6,062,729) | $5,943,852 | 5,943,852 |
Meridian Funds | 4 | www.meridianfund.com |
Meridian Small Cap Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
Shares/ Principal Amount | Value | |
Nomura Securities International, Inc., dated 9/30/21, due 10/1/21, 0.04% total to be received $5,531,914 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 2.50%, 12/31/21 - 9/20/51, totaling $5,642,547) | $5,531,908 | $5,531,908 |
RBC Dominion Securities, Inc., dated 9/30/21, due 10/1/21, 0.05% total to be received $19,298,005 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 6.50%, 10/31/21 - 5/1/58, totaling $19,683,938) | 19,297,978 | 19,297,978 |
Total Repurchase Agreements (Cost $30,773,738) | 30,773,738 | |
Total Short-Term Investments - 6.1% (Cost $82,912,738) | 82,912,738 | |
Total Investments - 97.2% (Cost $935,170,579) | 1,322,036,287 | |
Cash and Other Assets, Less Liabilities - 2.8% | 37,857,714 | |
Net Assets - 100.0% | $1,359,894,001 |
Meridian Funds | 5 | www.meridianfund.com |
Meridian Small Cap Growth Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2021 (Unaudited)
ADR—American Depositary Receipt |
Plc—Public Limited Company |
1 | Non-income producing securities. |
2 | All or portion of this security is on loan at September 30, 2021. Total value of such securities at period-end amounts to $154,172,973 and represents 11.34% of net assets. Securities loaned with a value of $4,259,859 are pending settlement as of September 30, 2021. |
3 | Restricted security; cannot be offered for public resale without first being registered under the Securities Act of 1933 and related rules and agreements. Acquisition date represents the date on which an enforceable right to acquire such security is obtained and is presented along with related cost in the security description. The Fund has registration rights for certain restricted securities. Any costs related to such registration are borne by the issuer. The aggregate value of restricted securities at period-end amounts to $86,795,370 and represents 6.38% of net assets. |
4 | Security is valued using significant unobservable inputs in good faith in accordance with procedures approved by the Board of Directors. |
5 | Quail Investment Holdings, LLC is a limited liability company that was organized to invest solely in Qumulo, Inc Series E Preferred Stock. The value of Qumulo, Inc. is substantially the same as Quail Investment Holdings, LLC. |
6 | Collateral received from brokers for securities lending was invested in short-term investments. |
Meridian Funds | 6 | www.meridianfund.com |