Meridian Hedged Equity Fund
Schedule of Investments

March 31, 2024 (Unaudited)

	Shares	Value
Common Stocks - 134.7%
Communication Services - 15.3%
Diversified Telecommunication Services - 0.5%
Verizon Communications, Inc.	5,892	$247,228
Entertainment - 6.6%
Liberty Media Corp.-Liberty Live Class A1	3,237	137,087
Liberty Media Corp.-Liberty Live Class C1	199	8,720
Live Nation Entertainment, Inc.1,2	19,500	2,062,515
Madison Square Garden Entertainment Corp.1	4,977	195,148
Sphere Entertainment Co.1	4,977	244,271
Walt Disney Co. (The)	3,546	433,889
		3,081,630
Interactive Media & Services - 6.1%
Alphabet, Inc. Class C1,2	12,100	1,842,346
IAC, Inc.1	4,170	222,428
Match Group, Inc.1,2	21,000	761,880
		2,826,654
Media - 2.1%
Boston Omaha Corp. Class A1	9,662	149,375
Liberty Broadband Corp. Class C1	7,553	432,258
Liberty Media Corp.-Liberty SiriusXM Class A1	12,951	384,645
Liberty Media Corp.-Liberty SiriusXM1	799	23,738
		990,016
Total Communication Services		7,145,528
Consumer Discretionary - 33.9%
Automobiles - 5.4%
Rivian Automotive, Inc. Class A1,2	232,370	2,544,451
Broadline Retail - 6.4%
Alibaba Group Holding Ltd. ADR (China)2	22,500	1,628,100
Amazon.com, Inc.1	7,494	1,351,768
		2,979,868
Diversified Consumer Services - 2.1%
ADT, Inc.2	144,000	967,680
Hotels, Restaurants & Leisure - 5.3%
Airbnb, Inc. Class A1,2	4,000	659,840
MGM Resorts International1,2	38,400	1,812,864
		2,472,704
Household Durables - 4.7%
D.R. Horton, Inc.2	13,500	2,221,425
Specialty Retail - 6.9%
Advance Auto Parts, Inc.	1,717	146,100

	Shares	Value
Home Depot, Inc. (The)	1,148	$440,373
Lowe's Cos., Inc.	2,065	526,017
Sally Beauty Holdings, Inc.1,2	170,000	2,111,400
		3,223,890
Textiles, Apparel & Luxury Goods - 3.1%
Levi Strauss & Co. Class A2	59,000	1,179,410
NIKE, Inc. Class B	3,025	284,289
		1,463,699
Total Consumer Discretionary		15,873,717
Consumer Staples - 8.0%
Consumer Staples Distribution & Retail - 2.1%
Costco Wholesale Corp.	773	566,323
Target Corp.	2,234	395,887
		962,210
Food Products - 4.0%
Archer-Daniels-Midland Co.2	17,900	1,124,299
Dole Plc	32,645	389,455
Lamb Weston Holdings, Inc.2	3,300	351,549
		1,865,303
Personal Care Products - 1.9%
Coty, Inc. Class A1,2	48,000	574,080
Kenvue, Inc.	15,412	330,742
		904,822
Total Consumer Staples		3,732,335
Energy - 1.1%
Oil, Gas & Consumable Fuels - 1.1%
Chevron Corp.	3,310	522,119
Total Energy		522,119
Financials - 15.2%
Banks - 4.8%
JPMorgan Chase & Co.	4,000	801,200
U.S. Bancorp	17,777	794,632
Wells Fargo & Co.2	11,700	678,132
		2,273,964
Capital Markets - 7.6%
Charles Schwab Corp. (The)2	32,200	2,329,348
Intercontinental Exchange, Inc.	6,664	915,834
S&P Global, Inc.	690	293,560
		3,538,742
Financial Services - 2.8%
PayPal Holdings, Inc.1	3,160	211,688
Visa, Inc. Class A	3,911	1,091,482
		1,303,170
Total Financials		7,115,876

Meridian Funds 1 www.arrowmarkpartners.com/meridian/

Meridian Hedged Equity Fund
Schedule of Investments (continued)

March 31, 2024 (Unaudited)

	Shares	Value
Health Care - 8.1%
Health Care Providers & Services - 1.8%
Progyny, Inc.1,2	22,500	$858,375
Life Sciences Tools & Services - 5.5%
Danaher Corp.	2,025	505,683
Illumina, Inc. 1,2	15,200	2,087,264
		2,592,947
Pharmaceuticals - 0.8%
Johnson & Johnson	2,215	350,391
Total Health Care		3,801,713
Industrials - 6.6%
Commercial Services & Supplies - 2.2%
ACV Auctions, Inc. Class A1	13,594	255,160
GFL Environmental, Inc.2	22,226	766,797
		1,021,957
Electrical Equipment - 2.8%
Acuity Brands, Inc.2	4,800	1,289,904
Professional Services - 1.6%
Alight, Inc. Class A1	27,247	268,383
CACI International, Inc. Class A1	840	318,217
Dun & Bradstreet Holdings, Inc.	17,376	174,455
		761,055
Total Industrials		3,072,916
Information Technology - 36.9%
IT Services - 1.8%
Shopify, Inc. Class A (Canada)1,2	11,300	872,021
Semiconductors & Semiconductor Equipment - 19.7%
GLOBALFOUNDRIES, Inc.1,3	4,200	218,862
Micron Technology, Inc.2	12,000	1,414,680
NVIDIA Corp.2	5,953	5,378,893
QUALCOMM, Inc.2	13,000	2,200,900
		9,213,335
Software - 14.1%
Clear Secure, Inc. Class A2	96,000	2,041,920
Microsoft Corp.	2,889	1,215,460
Salesforce, Inc.2	1,729	520,740
ServiceNow, Inc.1,2	1,600	1,219,840
Zoom Video Communications, Inc. Class A1,2	24,300	1,588,491
		6,586,451
Technology Hardware, Storage & Peripherals - 1.3%
Apple, Inc.2	3,588	615,270
Total Information Technology		17,287,077

	Shares	Value
Materials - 2.4%
Chemicals - 2.4%
Huntsman Corp.2	43,000	$1,119,290
Total Materials		1,119,290
Real Estate - 3.4%
Office REITs - 0.8%
Alexandria Real Estate Equities, Inc.	2,941	379,124
Specialized REITs - 2.6%
American Tower Corp.	2,978	588,423
Equinix, Inc.	772	637,155
		1,225,578
Total Real Estate		1,604,702
Utilities - 3.8%
Electric Utilities - 1.1%
Entergy Corp.	4,787	505,890
Independent Power & Renewable Electricity Producers - 2.7%
Vistra Corp.	18,609	1,296,117
Total Utilities		1,802,007
Total Common Stocks - 134.7% (Cost $52,397,756)		63,077,280

	Shares/ Principal Amount
Short-Term Investments - 10.5%
Money Market Funds - 10.0%
Goldman Sachs Financial Square Government Fund, Institutional Class, 5.21% (Cost $4,681,038)	4,681,038	4,681,038

Meridian Funds 2 www.arrowmarkpartners.com/meridian/

Meridian Hedged Equity Fund
Schedule of Investments (continued)

March 31, 2024 (Unaudited)

	Shares/ Principal Amount	Value
Repurchase Agreements - 0.5%4
RBC Dominion Securities, Inc., dated 3/28/24, due 4/1/24, 5.33% total to be received $223,641 (collateralized by various U.S. Government Sponsored Agency and U.S. Treasury Obligations, 0.00% - 8.00%, 4/4/24 - 3/1/54, totaling $227,979) (Cost $223,509)	$223,509	$223,509
Total Short-Term Investments - 10.5% (Cost $4,904,547)		4,904,547
Total Investments - 145.2% (Cost $57,302,303)		67,981,827
Liabilities in Excess of Other Assets - (45.2)%		(21,149,537)
Net Assets - 100.0%		$46,832,290

	Value
Call Options Written - (44.9)%
Total Call Options Written - (44.9)% (Premium received $(14,294,743))	$(21,012,649)

 

ADR—American Depositary Receipt

Plc—Public Limited Company

1	Non-income producing securities.
2	Securities, or a portion thereof, were pledged as collateral for written options by the fund.
3	All or portion of this security is on loan at March 31, 2024. Total value of such securities at period-end amounts to $218,862 and represents 0.47% of net assets.
4	Cash collateral received from brokers for securities lending was invested in short-term investments.

Meridian Funds 3 www.arrowmarkpartners.com/meridian/

Meridian Hedged Equity Fund
Schedule of Investments (continued)

March 31, 2024 (Unaudited)

Exchange-Traded Options Written
Description	Strike Price	Expiration Date	Number of Contracts	Notional Amount	Premium Received	Value
Call
GFL Environmental, Inc.	25.00	4/19/24	47	$162,150	$(23,627)	$(56,400)
Zoom Video Communications, Inc. Class A	55.00	5/17/24	60	392,220	(87,553)	(69,300)
Airbnb, Inc. Class A	70.00	6/21/24	40	659,840	(194,781)	(387,800)
Alphabet, Inc. Class C	68.00	6/21/24	58	883,108	(182,094)	(507,500)
Charles Schwab Corp. (The)	27.50	6/21/24	122	882,548	(406,057)	(573,400)
Micron Technology, Inc.	45.00	6/21/24	58	683,762	(141,328)	(431,230)
NVIDIA Corp.	125.00	6/21/24	26	2,349,256	(153,216)	(2,031,120)
QUALCOMM, Inc.	120.00	6/21/24	20	338,600	(67,425)	(100,540)
Rivian Automotive, Inc. Class A	5.00	6/21/24	2,282	2,498,790	(3,261,408)	(1,465,044)
Levi Strauss & Co. Class A	13.00	7/19/24	290	579,710	(98,374)	(208,800)
Live Nation Entertainment, Inc.	70.00	7/19/24	35	370,195	(79,941)	(138,250)
ADT, Inc.	5.00	8/16/24	1,440	967,680	(272,479)	(280,800)
Huntsman Corp.	19.00	8/16/24	200	520,600	(115,844)	(188,000)
Archer-Daniels-Midland Co.	42.50	9/20/24	29	182,149	(31,168)	(61,190)
Illumina, Inc.	75.00	9/20/24	33	453,156	(241,271)	(229,680)
Sally Beauty Holdings, Inc.	7.50	9/20/24	1,574	1,954,908	(801,511)	(1,038,840)
Zoom Video Communications, Inc. Class A	55.00	9/20/24	60	392,220	(102,253)	(82,800)
Acuity Brands, Inc.	210.00	12/20/24	48	1,289,904	(291,896)	(352,800)
Alibaba Group Holding Ltd. ADR (China)	50.00	1/17/25	100	723,600	(276,829)	(256,000)
Alphabet, Inc. Class C	70.00	1/17/25	63	959,238	(203,646)	(538,965)
Apple, Inc.	155.00	1/17/25	35	600,180	(143,473)	(100,800)
Coty, Inc. Class A	10.00	1/17/25	480	574,080	(146,876)	(135,840)
D.R. Horton, Inc.	115.00	1/17/25	86	1,415,130	(333,187)	(491,060)
Huntsman Corp.	18.00	1/17/25	230	598,690	(159,670)	(223,100)
Illumina, Inc.	65.00	1/17/25	85	1,167,220	(690,768)	(688,500)
Lamb Weston Holdings, Inc.	75.00	1/17/25	33	351,549	(78,475)	(120,120)
Levi Strauss & Co. Class A	13.00	1/17/25	300	599,700	(116,766)	(228,000)
Match Group, Inc.	25.00	1/17/25	210	761,880	(293,387)	(289,800)
Micron Technology, Inc.	45.00	1/17/25	62	730,918	(163,377)	(478,020)
Progyny, Inc.	22.50	1/17/25	225	858,375	(357,031)	(411,750)
QUALCOMM, Inc.	120.00	1/17/25	88	1,489,840	(371,985)	(486,640)
Salesforce, Inc.	110.00	1/17/25	17	512,006	(99,945)	(335,580)
ServiceNow, Inc.	300.00	1/17/25	16	1,219,840	(251,749)	(777,600)
Shopify, Inc. Class A (Canada)	22.50	1/17/25	113	872,021	(321,591)	(652,575)
Wells Fargo & Co.	32.50	1/17/25	116	672,336	(150,707)	(302,180)
Zoom Video Communications, Inc. Class A	55.00	1/17/25	60	392,220	(113,653)	(100,080)
Alibaba Group Holding Ltd. ADR (China)	50.00	6/20/25	125	904,500	(336,965)	(342,500)
Charles Schwab Corp. (The)	47.50	6/20/25	200	1,446,800	(407,003)	(608,000)
NVIDIA Corp.	135.00	6/20/25	26	2,349,256	(167,311)	(2,035,670)

Meridian Funds 4 www.arrowmarkpartners.com/meridian/

Meridian Hedged Equity Fund
Schedule of Investments (continued)

March 31, 2024 (Unaudited)

Exchange-Traded Options Written
Description	Strike Price	Expiration Date	Number of Contracts	Notional Amount	Premium Received	Value
QUALCOMM, Inc.	115.00	6/20/25	22	$372,460	$(98,808)	$(137,060)
Archer-Daniels-Midland Co.	45.00	1/16/26	150	942,150	(189,507)	(313,500)
Clear Secure, Inc. Class A	17.45	1/16/26	960	2,041,920	(630,660)	(748,800)
D.R. Horton, Inc.	120.00	1/16/26	49	806,295	(192,158)	(299,880)
Illumina, Inc.	80.00	1/16/26	34	466,888	(265,550)	(252,620)
Live Nation Entertainment, Inc.	70.00	1/16/26	160	1,692,320	(509,252)	(750,400)
MGM Resorts International	40.00	1/16/26	384	1,812,864	(524,188)	(570,240)
Zoom Video Communications, Inc. Class A	55.00	1/16/26	63	411,831	(148,000)	(133,875)
				Total	$(14,294,743)	$(21,012,649)

Meridian Funds 5 www.arrowmarkpartners.com/meridian/