MERITAGE PORTFOLIO MANAGEMENT
CIK
881432
Location
OVERLAND PARK, KS
Portfolio Value
Mid
$1,335,804,134
Diversification
Diversified
Filing Date
Global Rank
#1,545
/ 8,664
▼ 47
· as of Dec 2025
Top Industry
Semiconductors
10.0%
3Y Alpha vs SPY
-3.1%
Period ended 6 months ago
Filed Jan 27, 2026 · 5mo
24 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+67.9%
SPY
+76.5%
Annualised alpha
-2.0%
Max drawdown
−18.5%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
257 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
6.7%
+0.1 pts
Top 5
27.6%
+0.4 pts
Top 10
36.2%
+0.3 pts
HHI
211
Diversified+8
Portfolio Trend
24 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 34.0% | $453,717,850 |
| Financial Services | 14.3% | $191,141,407 |
| Consumer Cyclical | 11.8% | $158,019,507 |
| Communication Services | 10.1% | $135,124,996 |
| Healthcare | 7.6% | $101,027,870 |
| Industrials | 5.1% | $68,014,550 |
| Energy | 4.6% | $61,170,848 |
| Real Estate | 4.0% | $53,839,810 |
| Consumer Defensive | 3.5% | $46,529,610 |
| Utilities | 3.3% | $44,457,186 |
| Unclassified | 1.0% | $12,698,460 |
| Basic Materials | 0.8% | $10,062,040 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| NOMD | Nomad Foods Ltd | +102,674 | 445,889 | $5,578,071 | |
| BMY | Bristol Myers Squibb Co | +84,761 | 91,145 | $4,916,361 | |
| PAGP | Plains Gp Holdings LP | +84,042 | 314,420 | $6,017,998 | |
| ORLY | O Reilly Automotive Inc | +68,910 | 146,040 | $13,320,308 | |
| OSPN | OneSpan Inc. | +59,405 | 207,736 | $2,667,330 | |
| SGMOQ | Sangamo Therapeutics, Inc | +50,000 | 227,000 | $95,340 | |
| QFIN | Qfin Holdings, Inc. | +42,136 | 118,969 | $2,292,532 | |
| EOG | Eog Resources Inc | +34,790 | 98,339 | $10,326,578 | |
| GTY | Getty Realty Corp /Md/ | +33,675 | 141,628 | $3,876,358 | |
| SLB | Slb Limited/Nv | +33,549 | 107,157 | $4,112,685 | |
| NNN | Nnn REIT, Inc. | +31,234 | 109,186 | $4,327,041 | |
| GIC | GLOBAL INDUSTRIAL Co | +27,623 | 107,047 | $3,127,913 | |
| OTEX | Open Text Corp | +22,755 | 154,162 | $5,022,597 | |
| NHI | National Health Investors Inc | +20,172 | 62,512 | $4,774,041 | |
| MGY | Magnolia Oil & Gas Corp | +19,718 | 58,956 | $1,290,546 | |
| HON | Honeywell International Inc | +16,862 | 19,097 | $3,725,633 | |
| ADP | Automatic Data Processing Inc | +12,055 | 13,875 | $3,569,066 | |
| PLD | Prologis, Inc. | +8,747 | 27,889 | $3,560,309 | |
| ITUB | Itau Unibanco Holding S.A. | +6,884 | 330,447 | $2,366,000 | |
| CARG | CarGurus, Inc. | +5,399 | 150,614 | $5,776,046 | |
| LMT | Lockheed Martin Corp | +5,046 | 5,577 | $2,697,427 | |
| BN | BROOKFIELD Corp /ON/ | +3,163 | 13,780 | $632,364 | |
| INFY | Infosys Ltd | +2,078 | 167,372 | $2,982,569 | |
| TIMB | Tim S.A. | +1,705 | 186,730 | $3,631,898 | |
| SKT | Tanger Inc. | +1,624 | 12,050 | $402,108 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| T | At&T Inc. | −201,443 | 19,891 | $494,092 | |
| WF | Woori Financial Group Inc. | −87,561 | 6,651 | $391,012 | |
| VZ | Verizon Communications Inc | −72,168 | 7,190 | $292,848 | |
| FTNT | Fortinet, Inc. | −44,303 | 94,455 | $7,500,671 | |
| BKH | Black Hills Corp /Sd/ | −42,686 | 41,683 | $2,893,633 | |
| EVRG | Evergy, Inc. | −37,027 | 4,321 | $313,229 | |
| SLV | iShares Silver Trust | −35,924 | 9,470 | $610,057 | |
| ANET | Arista Networks, Inc. | −32,205 | 65,524 | $8,585,609 | |
| CBSH | Commerce Bancshares Inc /Mo/ | −23,969 | 15,065 | $788,502 | |
| FHN | First Horizon Corp | −19,206 | 423,143 | $10,113,117 | |
| LOW | Lowes Companies Inc | −15,537 | 913 | $220,179 | |
| FNB | Fnb Corp/Pa/ | −14,634 | 345,478 | $5,907,673 | |
| EPRT | Essential Properties Realty Trust, Inc. | −11,090 | 199,338 | $5,912,365 | |
| PYPL | PayPal Holdings, Inc. | −8,830 | 158,015 | $9,224,915 | |
| ADEA | Adeia Inc. | −8,113 | 75,369 | $1,300,115 | |
| CTRE | CareTrust REIT, Inc. | −7,416 | 164,064 | $5,932,554 | |
| ETSY | Etsy Inc | −7,164 | 225,283 | $12,489,689 | |
| EXEL | Exelixis, Inc. | −6,147 | 289,279 | $12,679,098 | |
| AAPL | Apple Inc. | −6,121 | 328,546 | $89,318,515 | |
| GOOGL | Alphabet Inc. | −5,627 | 283,124 | $88,617,812 | |
| NVDA | Nvidia Corp | −5,575 | 293,708 | $54,776,542 | |
| AVGO | Broadcom Inc. | −5,541 | 195,333 | $67,604,751 | |
| CMCSA | Comcast Corp | −5,000 | 104,166 | $2,918,012 | |
| ABEV | Ambev S.A. | −4,860 | 1,670,089 | $4,125,119 | |
| MTDR | Matador Resources Co | −4,773 | 88,130 | $3,740,237 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
13 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| MCO | Moodys Corp /De/ | 19,679 | $10,053,017 | |
| LXP | LXP Industrial Trust | 110,105 | $5,459,005 | |
| VMI | Valmont Industries Inc | 12,977 | $5,220,906 | |
| PR | Permian Resources Corp | 347,924 | $4,881,373 | |
| DUK | Duke Energy CORP | 34,277 | $4,017,607 | |
| TRP | Tc Energy Corp | 59,964 | $3,298,619 | |
| DTE | Dte Energy Co | 21,640 | $2,791,127 | |
| LRCX | Lam Research Corp | 1,410 | $241,363 | |
| SGOL | abrdn Gold ETF Trust | 5,280 | $216,902 | |
| MRK | Merck & Co., Inc. | 2,003 | $210,835 | |
| CTRA | Coterra Energy Inc. | 7,961 | $209,533 | |
| STLD | Steel Dynamics Inc | 1,206 | $204,356 | |
| RTX | RTX Corp | 1,101 | $201,923 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
24 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| EEFT | Euronet Worldwide, Inc. | 124,343 | $10,918,558 | |
| EMN | Eastman Chemical Co | 75,987 | $4,790,980 | |
| EG | Everest Group, Ltd. | 10,832 | $3,793,691 | |
| KMB | Kimberly Clark Corp | 29,976 | $3,727,215 | |
| SU | Suncor Energy Inc | 88,374 | $3,694,916 | |
| OMC | Omnicom Group Inc. | 43,449 | $3,542,396 | |
| SR | Spire Inc | 40,079 | $3,267,240 | |
| HTO | H2o America | 44,993 | $2,191,159 | |
| REZI | Resideo Technologies, Inc. | 13,971 | $603,267 | |
| SKY | Champion Homes, Inc. | 3,982 | $304,105 | |
| MELI | Mercadolibre Inc | 121 | $282,769 | |
| FCPT | Four Corners Property Trust, Inc. | 11,251 | $274,524 | |
| KFY | Korn Ferry | 3,674 | $257,106 | |
| DHR | Danaher Corp /De/ | 1,189 | $235,731 | |
| HBNC | Horizon Bancorp Inc /In/ | 14,490 | $231,984 | |
| PFE | Pfizer Inc | 8,975 | $228,683 | |
| CHTR | Charter Communications, Inc. /Mo/ | 818 | $225,039 | |
| NVO | Novo Nordisk A S | 3,819 | $211,916 | |
| SM | SM Energy Co | 8,377 | $209,173 | |
| EXC | Exelon Corp | 4,583 | $206,280 | |
| BLK | BlackRock, Inc. | 176 | $205,193 | |
| UTL | Unitil Corp | 4,236 | $202,734 | |
| INMD | InMode Ltd. | 10,798 | $160,890 | |
| NFLX | Netflix Inc | 202 | $24,218 | |
| No positions match the current search. | ||||
257 positions ·
$1,335,804,134 total
· as of Dec 31, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 257 positions by value
· page 1 of 6
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| AAPL |
Apple Inc.
Technology
|
Reduced | 328,546 | $89,318,515 | 6.69% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Reduced | 283,124 | $88,617,812 | 6.63% | |
| MSFT |
Microsoft Corp
Technology
|
Reduced | 141,424 | $68,395,474 | 5.12% | |
| AVGO |
Broadcom Inc.
Technology
|
Reduced | 195,333 | $67,604,751 | 5.06% | |
| NVDA |
Nvidia Corp
Technology
|
Reduced | 293,708 | $54,776,542 | 4.10% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Reduced | 146,937 | $33,915,998 | 2.54% | |
| HSBC |
Hsbc Holdings PLC
Financial Services
|
Reduced | 295,700 | $23,262,719 | 1.74% | |
| KLAC |
Kla Corp
Technology
|
Reduced | 17,142 | $20,828,901 | 1.56% | |
| BABA |
Alibaba Group Holding Ltd
Consumer Cyclical
|
Reduced | 131,873 | $19,329,944 | 1.45% | |
| BKNG |
Booking Holdings Inc.
Consumer Cyclical
|
Reduced | 3,308 | $17,715,431 | 1.33% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 52,137 | $16,799,584 | 1.26% | |
| REGN |
Regeneron Pharmaceuticals, Inc.
Healthcare
|
Reduced | 20,580 | $15,885,084 | 1.19% | |
| ASML |
Asml Holding NV
Technology
|
Reduced | 14,638 | $15,660,610 | 1.17% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Reduced | 23,639 | $15,603,867 | 1.17% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Reduced | 74,789 | $15,477,583 | 1.16% | |
| MA |
Mastercard Inc
Financial Services
|
Reduced | 27,037 | $15,434,882 | 1.16% | |
| CTSH |
Cognizant Technology Solutions Corp
Technology
|
Reduced | 185,849 | $15,425,467 | 1.15% | |
| BIDU |
Baidu, Inc.
Communication Services
|
Reduced | 117,856 | $15,399,064 | 1.15% | |
| AME |
Ametek Inc/
Industrials
|
Reduced | 66,604 | $13,674,467 | 1.02% | |
| ORLY |
O Reilly Automotive Inc
Consumer Cyclical
|
Added | 146,040 | $13,320,308 | 1.00% | |
| WSM |
Williams Sonoma Inc
Consumer Cyclical
|
Reduced | 73,323 | $13,094,754 | 0.98% | |
| EXEL |
Exelixis, Inc.
Healthcare
|
Reduced | 289,279 | $12,679,098 | 0.95% | |
| ETSY |
Etsy Inc
Consumer Cyclical
|
Reduced | 225,283 | $12,489,689 | 0.93% | |
| GS |
Goldman Sachs Group Inc
Financial Services
|
Reduced | 13,356 | $11,739,924 | 0.88% | |
| VRTX |
Vertex Pharmaceuticals Inc / Ma
Healthcare
|
Reduced | 25,438 | $11,532,571 | 0.86% | |
| WFC |
Wells Fargo & Company/Mn
Financial Services
|
Reduced | 116,616 | $10,868,611 | 0.81% | |
| TWLO |
Twilio Inc
Technology
|
Reduced | 75,081 | $10,679,521 | 0.80% | |
| LNG |
Cheniere Energy, Inc.
Energy
|
Reduced | 54,717 | $10,636,437 | 0.80% | |
| EOG |
Eog Resources Inc
Energy
|
Added | 98,339 | $10,326,578 | 0.77% | |
| FHN |
First Horizon Corp
Financial Services
|
Reduced | 423,143 | $10,113,117 | 0.76% | |
| MCO |
Moodys Corp /De/
Financial Services
|
NEW | 19,679 | $10,053,017 | 0.75% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Added | 18,945 | $9,522,704 | 0.71% | |
| AYI |
Acuity Inc. (De)
Industrials
|
Reduced | 25,733 | $9,264,909 | 0.69% | |
| PYPL |
PayPal Holdings, Inc.
Financial Services
|
Reduced | 158,015 | $9,224,915 | 0.69% | |
| CDNS |
Cadence Design Systems Inc
Technology
|
Reduced | 28,964 | $9,053,567 | 0.68% | |
| ETR |
Entergy Corp /De/
Utilities
|
Reduced | 96,528 | $8,922,083 | 0.67% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Reduced | 37,798 | $8,636,465 | 0.65% | |
| ANET |
Arista Networks, Inc.
Technology
|
Reduced | 65,524 | $8,585,609 | 0.64% | |
| EBAY |
Ebay Inc
Consumer Cyclical
|
Reduced | 95,973 | $8,359,248 | 0.63% | |
| IBM |
International Business Machines Corp
Technology
|
Reduced | 27,262 | $8,075,277 | 0.60% | |
| FTNT |
Fortinet, Inc.
Technology
|
Reduced | 94,455 | $7,500,671 | 0.56% | |
| PG |
PROCTER & GAMBLE Co
Consumer Defensive
|
Reduced | 51,376 | $7,362,694 | 0.55% | |
| ADSK |
Autodesk, Inc.
Technology
|
Reduced | 23,747 | $7,029,349 | 0.53% | |
| QCOM |
Qualcomm Inc/De
Technology
|
Reduced | 40,938 | $7,002,444 | 0.52% | |
| RS |
Reliance, Inc.
Basic Materials
|
Reduced | 24,207 | $6,992,676 | 0.52% | |
| ADBE |
Adobe Inc.
Technology
|
Reduced | 19,975 | $6,991,050 | 0.52% | |
| TIGO |
Millicom International Cellular SA
Communication Services
|
Reduced | 124,666 | $6,911,483 | 0.52% | |
| PNC |
Pnc Financial Services Group, Inc.
Financial Services
|
Reduced | 32,803 | $6,846,970 | 0.51% | |
| USB |
US Bancorp De
Financial Services
|
Reduced | 127,991 | $6,829,599 | 0.51% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Reduced | 9,966 | $6,796,014 | 0.51% |