Meridian Enhanced Equity Fund
Schedule of Investments
Schedule of Investments
September 30, 2022 (Unaudited)
Shares | Value | |
Common Stocks - 119.7% | ||
Communication Services - 15.7% | ||
Diversified Telecommunication Services - 1.0% | ||
Starry, Inc. Acquisition Date: 3/28/22, Cost $1,250,0031,2 | 166,667 | $248,334 |
Verizon Communications, Inc. | 5,892 | 223,719 |
472,053 | ||
Entertainment - 6.7% | ||
Live Nation Entertainment, Inc.2 | 26,300 | 1,999,852 |
Madison Square Garden Entertainment Corp.2,3 | 7,855 | 346,327 |
Walt Disney Co. (The)2 | 9,050 | 853,686 |
3,199,865 | ||
Interactive Media & Services - 4.3% | ||
Alphabet, Inc. Class C2,4 | 6,300 | 605,745 |
IAC, Inc.2 | 4,170 | 230,935 |
Pinterest, Inc. Class A2,4 | 50,700 | 1,181,310 |
2,017,990 | ||
Media - 3.7% | ||
Boston Omaha Corp. Class A2 | 9,070 | 208,973 |
Liberty Broadband Corp. Class C2 | 7,553 | 557,411 |
Liberty Media Corp.-Liberty SiriusXM Class A2,3 | 12,951 | 493,045 |
Liberty Media Corp.-Liberty SiriusXM Class C2 | 799 | 30,130 |
Paramount Global Class B4 | 24,400 | 464,576 |
1,754,135 | ||
Total Communication Services | 7,444,043 | |
Consumer Discretionary - 15.6% | ||
Automobiles - 0.3% | ||
Rivian Automotive, Inc. Class A2 | 4,170 | 137,235 |
Hotels, Restaurants & Leisure - 2.2% | ||
Airbnb, Inc. Class A2 | 9,800 | 1,029,392 |
Internet & Direct Marketing Retail - 1.7% | ||
Amazon.com, Inc.2,4 | 7,100 | 802,300 |
Multiline Retail - 0.8% | ||
Target Corp. | 2,538 | 376,614 |
Specialty Retail - 6.7% | ||
Advance Auto Parts, Inc. | 1,640 | 256,397 |
Home Depot, Inc. (The) | 1,148 | 316,779 |
Lowe's Cos., Inc. | 2,433 | 456,942 |
Sally Beauty Holdings, Inc.2,4 | 170,000 | 2,142,000 |
3,172,118 | ||
Textiles, Apparel & Luxury Goods - 3.9% | ||
Hanesbrands, Inc. | 33,000 | 229,680 |
Levi Strauss & Co. Class A4 | 89,000 | 1,287,830 |
Shares | Value | |
NIKE, Inc. Class B4 | 4,197 | $348,855 |
1,866,365 | ||
Total Consumer Discretionary | 7,384,024 | |
Consumer Staples - 18.5% | ||
Food & Staples Retailing - 0.9% | ||
Costco Wholesale Corp.4 | 868 | 409,930 |
Food Products - 13.5% | ||
Dole Plc4 | 143,100 | 1,044,630 |
Lamb Weston Holdings, Inc.4 | 58,500 | 4,526,730 |
TreeHouse Foods, Inc.2,4 | 19,400 | 822,948 |
6,394,308 | ||
Personal Products - 4.1% | ||
Coty, Inc. Class A2,4 | 308,000 | 1,946,560 |
Total Consumer Staples | 8,750,798 | |
Financials - 11.6% | ||
Banks - 9.9% | ||
Citigroup, Inc.4 | 24,200 | 1,008,414 |
JPMorgan Chase & Co. | 4,000 | 418,000 |
U.S. Bancorp | 17,777 | 716,769 |
Wells Fargo & Co.4 | 63,200 | 2,541,904 |
4,685,087 | ||
Capital Markets - 1.7% | ||
Intercontinental Exchange, Inc.4 | 6,664 | 602,092 |
S&P Global, Inc. | 690 | 210,692 |
812,784 | ||
Total Financials | 5,497,871 | |
Health Care - 2.7% | ||
Health Care Equipment & Supplies - 2.1% | ||
Alcon, Inc. (Switzerland)4 | 17,500 | 1,018,150 |
Pharmaceuticals - 0.6% | ||
Johnson & Johnson | 1,775 | 289,964 |
Total Health Care | 1,308,114 | |
Industrials - 14.4% | ||
Aerospace & Defense - 3.8% | ||
Boeing Co. (The)2 | 1,900 | 230,052 |
Maxar Technologies, Inc.4 | 78,400 | 1,467,648 |
Rocket Lab U.S.A., Inc.2 | 21,593 | 87,884 |
1,785,584 | ||
Commercial Services & Supplies - 0.5% | ||
ACV Auctions, Inc. Class A2 | 30,819 | 221,589 |
Construction & Engineering - 2.1% | ||
WillScot Mobile Mini Holdings Corp.2,4 | 24,400 | 984,052 |
Industrial Conglomerates - 0.7% | ||
General Electric Co.4 | 5,751 | 356,044 |
Meridian Funds | 1 | www.arrowmarkpartners.com/meridian/ |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2022 (Unaudited)
Shares | Value | |
Professional Services - 7.3% | ||
Alight, Inc. Class A2 | 33,940 | $248,780 |
CACI International, Inc. Class A2 | 900 | 234,954 |
CoStar Group, Inc.2,4 | 39,600 | 2,758,140 |
Dun & Bradstreet Holdings, Inc. | 18,097 | 224,222 |
3,466,096 | ||
Total Industrials | 6,813,365 | |
Information Technology - 32.2% | ||
IT Services - 3.3% | ||
PayPal Holdings, Inc.2 | 1,667 | 143,479 |
Twilio, Inc. Class A2,4 | 9,700 | 670,658 |
Visa, Inc. Class A4 | 4,294 | 762,829 |
1,576,966 | ||
Semiconductors & Semiconductor Equipment - 12.3% | ||
Allegro MicroSystems, Inc. (Japan)2 | 11,599 | 253,438 |
GLOBALFOUNDRIES, Inc.2,4 | 10,106 | 488,625 |
NVIDIA Corp.4 | 2,353 | 285,631 |
ON Semiconductor Corp.2,4 | 64,400 | 4,014,052 |
QUALCOMM, Inc.4 | 6,800 | 768,264 |
5,810,010 | ||
Software - 14.8% | ||
Alkami Technology, Inc.2 | 17,923 | 269,741 |
Microsoft Corp.4 | 3,849 | 896,432 |
Monday.com Ltd.2,4 | 9,900 | 1,122,066 |
N-able, Inc.2 | 33,634 | 310,442 |
Salesforce, Inc.2,4 | 3,229 | 464,459 |
ServiceNow, Inc.2,4 | 900 | 339,849 |
Splunk, Inc.2,4 | 11,800 | 887,360 |
Workday, Inc. Class A2,4 | 6,300 | 958,986 |
Zoom Video Communications, Inc. Class A2,4 | 24,300 | 1,788,237 |
7,037,572 | ||
Technology Hardware, Storage & Peripherals - 1.8% | ||
Apple, Inc.4 | 6,155 | 850,621 |
Total Information Technology | 15,275,169 | |
Materials - 1.2% | ||
Chemicals - 1.2% | ||
Huntsman Corp.4 | 23,000 | 564,420 |
Total Materials | 564,420 | |
Real Estate - 6.3% | ||
Equity Real Estate Investment Trusts (REITS) - 2.5% | ||
Alexandria Real Estate Equities, Inc. | 2,549 | 357,344 |
American Tower Corp. | 1,721 | 369,499 |
Equinix, Inc. | 772 | 439,144 |
1,165,987 | ||
Real Estate Management & Development - 3.8% | ||
DigitalBridge Group, Inc. | 146,000 | 1,826,460 |
Total Real Estate | 2,992,447 |
Shares | Value | |
Utilities - 1.5% | ||
Independent Power & Renewable Electricity Producers - 1.5% | ||
Vistra Corp.4 | 33,609 | $705,789 |
Total Utilities | 705,789 | |
Total Common Stocks - 119.7% (Cost $62,617,318) | 56,736,040 | |
Warrants - 0.0% | ||
Financials - 0.0% | ||
Capital Markets - 0.0% | ||
Executive Network Partnering Corp. Class A, Strike Price $11.50, Expires 9/25/282 | 4,325 | 4,023 |
Tishman Speyer Innovation Corp. II Class A, Strike Price $11.50, Expires 12/31/272 | 6,000 | 262 |
Total Financials | 4,285 | |
Total Warrants - 0.0% (Cost $8,660) | 4,285 |
Shares/ Principal Amount | ||
Short-Term Investments - 0.0%5 | ||
Repurchase Agreements - 0.0% | ||
JP Morgan Securities LLC, dated 9/30/22, due 10/3/22, 3.15% total to be received $686 (collateralized by various U.S. Treasury Obligations, 0.25% - 3.88%, 9/30/23 - 9/30/29, totaling $700) (Cost $686) | $686 | 686 |
Total Short-Term Investments - 0.0% (Cost $686) | 686 | |
Total Investments - 119.7% (Cost $62,626,664) | 56,741,011 | |
Liabilities in Excess of Other Assets - (19.7)% | (9,340,700) | |
Net Assets - 100.0% | $47,400,311 |
Meridian Funds | 2 | www.arrowmarkpartners.com/meridian/ |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2022 (Unaudited)
Value | ||
Call Options Written - (27.4)% | ||
Total Call Options Written - (27.4)% (Premium received $(16,016,357)) | $(12,972,005) |
Plc—Public Limited Company |
1 | 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 $248,334 and represents 0.52% of net assets. |
2 | Non-income producing securities. |
3 | All or portion of this security is on loan at September 30, 2022. Total value of such securities at period-end amounts to $839,372 and represents 1.77% of net assets. |
4 | Securities, or a portion thereof, were pledged as collateral for written options by the fund. |
5 | Collateral received from brokers for securities lending was invested in short-term investments. |
Meridian Funds | 3 | www.arrowmarkpartners.com/meridian/ |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2022 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Call | ||||||||||||
CoStar Group, Inc. | 45.00 | 10/21/22 | 198 | $1,379,070 | $(325,256) | $(493,020) | ||||||
CoStar Group, Inc. | 50.00 | 10/21/22 | 198 | 1,379,070 | (224,303) | (394,020) | ||||||
GLOBALFOUNDRIES, Inc. | 70.00 | 10/21/22 | 20 | 96,700 | (5,454) | (160) | ||||||
NIKE, Inc. Class B | 125.00 | 10/21/22 | 9 | 74,808 | (1,388) | (18) | ||||||
Alcon, Inc. (Switzerland) | 60.00 | 11/18/22 | 78 | 453,804 | (81,438) | (21,060) | ||||||
Amazon.com, Inc. | 150.00 | 11/18/22 | 21 | 237,300 | (9,328) | (924) | ||||||
Apple, Inc. | 185.00 | 11/18/22 | 18 | 248,760 | (5,080) | (270) | ||||||
Costco Wholesale Corp. | 600.00 | 11/18/22 | 2 | 94,454 | (1,638) | (60) | ||||||
Microsoft Corp. | 305.00 | 11/18/22 | 12 | 279,480 | (4,851) | (360) | ||||||
NVIDIA Corp. | 125.00 | 11/18/22 | 8 | 97,112 | (46,633) | (7,840) | ||||||
Salesforce, Inc. | 195.00 | 11/18/22 | 13 | 186,992 | (4,800) | (325) | ||||||
Visa, Inc. Class A | 230.00 | 11/18/22 | 13 | 230,945 | (3,851) | (260) | ||||||
Vistra Corp. | 27.00 | 11/18/22 | 138 | 289,800 | (13,002) | (3,450) | ||||||
Dole Plc | 10.00 | 12/16/22 | 1,431 | 1,044,630 | (588,605) | (14,310) | ||||||
Intercontinental Exchange, Inc. | 115.00 | 12/16/22 | 20 | 180,700 | (5,084) | (4,700) | ||||||
Monday.com Ltd. | 90.00 | 12/16/22 | 99 | 1,122,066 | (609,402) | (331,650) | ||||||
NVIDIA Corp. | 110.00 | 12/16/22 | 8 | 97,112 | (56,793) | (19,040) | ||||||
TreeHouse Foods, Inc. | 30.00 | 12/16/22 | 194 | 822,948 | (180,309) | (296,820) | ||||||
Coty, Inc. Class A | 7.00 | 1/20/23 | 3,080 | 1,946,560 | (1,383,614) | (163,240) | ||||||
General Electric Co. | 7.00 | 1/20/23 | 415 | 2,569,265 | (221,017) | (55,610) | ||||||
Huntsman Corp. | 27.00 | 1/20/23 | 230 | 564,420 | (170,964) | (29,900) | ||||||
ON Semiconductor Corp. | 32.00 | 1/20/23 | 644 | 4,014,052 | (937,436) | (2,047,920) | ||||||
Paramount Global Class B | 37.00 | 1/20/23 | 244 | 464,576 | (419,081) | (1,464) | ||||||
Pinterest, Inc. Class A | 10.00 | 1/20/23 | 200 | 466,000 | (173,896) | (277,000) | ||||||
QUALCOMM, Inc. | 160.00 | 1/20/23 | 68 | 768,264 | (290,952) | (5,712) | ||||||
Wells Fargo & Co. | 42.50 | 1/20/23 | 246 | 989,412 | (223,606) | (61,992) | ||||||
Wells Fargo & Co. | 27.50 | 1/20/23 | 386 | 1,552,492 | (328,404) | (519,170) | ||||||
WillScot Mobile Mini Holdings Corp. | 30.00 | 1/20/23 | 244 | 984,052 | (194,483) | (314,760) | ||||||
Alcon, Inc. (Switzerland) | 62.50 | 2/17/23 | 97 | 564,346 | (94,769) | (34,920) | ||||||
Alphabet, Inc. Class C | 90.00 | 6/16/23 | 63 | 605,745 | (167,291) | (119,070) | ||||||
Citigroup, Inc. | 40.00 | 6/16/23 | 242 | 1,008,414 | (301,331) | (146,410) | ||||||
Pinterest, Inc. Class A | 10.00 | 6/16/23 | 107 | 249,310 | (144,231) | (153,010) | ||||||
Workday, Inc. Class A | 120.00 | 6/16/23 | 63 | 958,986 | (330,178) | (285,390) | ||||||
DigitalBridge Group, Inc. | 10.00 | 10/20/23 | 1,460 | 1,826,460 | (627,290) | (715,400) | ||||||
Airbnb, Inc. Class A | 65.00 | 1/19/24 | 98 | 1,029,392 | (515,960) | (500,290) | ||||||
Lamb Weston Holdings, Inc. | 45.00 | 1/19/24 | 585 | 4,526,730 | (994,441) | (2,205,450) | ||||||
Levi Strauss & Co. Class A | 20.00 | 1/19/24 | 890 | 1,287,830 | (612,832) | (120,150) | ||||||
Live Nation Entertainment, Inc. | 50.00 | 1/19/24 | 263 | 1,999,852 | (865,997) | (909,980) | ||||||
Maxar Technologies, Inc. | 17.50 | 1/19/24 | 784 | 1,467,648 | (974,505) | (501,760) | ||||||
Pinterest, Inc. Class A | 10.00 | 1/19/24 | 200 | 466,000 | (190,320) | (299,000) | ||||||
Sally Beauty Holdings, Inc. | 12.50 | 1/19/24 | 1,700 | 2,142,000 | (1,342,714) | (833,000) | ||||||
ServiceNow, Inc. | 300.00 | 1/19/24 | 9 | 339,849 | (163,866) | (121,860) | ||||||
Splunk, Inc. | 90.00 | 1/19/24 | 118 | 887,360 | (440,686) | (166,380) | ||||||
Twilio, Inc. Class A | 70.00 | 1/19/24 | 97 | 670,658 | (485,616) | (222,615) |
Meridian Funds | 4 | www.arrowmarkpartners.com/meridian/ |
Meridian Enhanced Equity Fund
Schedule of Investments (continued)
Schedule of Investments (continued)
September 30, 2022 (Unaudited)
Exchange-Traded Options Written | ||||||||||||
Description | Strike Price | Expiration Date | Number of Contracts | Notional Amount | Premium Received | Value | ||||||
Zoom Video Communications, Inc. Class A | 70.00 | 1/19/24 | 243 | $1,788,237 | $(1,253,662) | $(572,265) | ||||||
Total | $(16,016,357) | $(12,972,005) |
Meridian Funds | 5 | www.arrowmarkpartners.com/meridian/ |