Meritage Portfolio Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 4, 2024), Meritage Portfolio Management reported 336 stock positions worth $1.6 billion. Its top holding was Apple (AAPL) at 6.8% of the portfolio, followed by Microsoft (MSFT, 5.0%) and Alphabet Class A (GOOGL, 4.0%). Compared with Q2 2024, it opened 26 new positions, sold out of 24, added to 122 and reduced 141. The biggest buy was Nvidia (NVDA, shares +72%) and the biggest sale Cadence Design SYS (CDNS, shares −49%).
- Most Recent 13F
- Q4 2025
- Location
- OVERLAND PARK, KS
- CIK
- 0000881432
- Portfolio Value
- $1.6B (Q3 2024)
- SEC Filing
- 0000881432-24-000018 ↗ filed Nov 4, 2024
Holdings Value
Holdings 336 stocks · $1.6B
| AAPL Apple Inc. | 6.78% | 475,250 | $110.7M | Reduce -0.8% |
| MSFT Microsoft Corp. | 4.96% | 188,272 | $81.0M | Reduce -0.8% |
| GOOGL Alphabet Inc. Class A | 4.05% | 398,385 | $66.1M | Reduce -0.6% |
| AVGO Broadcom Inc. | 2.89% | 273,439 | $47.2M | Reduce -9.2% |
| AMZN Amazon.com Inc. | 1.95% | 170,929 | $31.8M | Reduce -0.4% |
| NVDA Nvidia Corp. | 1.73% | 233,014 | $28.3M | Add +71.7% |
| FTNT Fortinet Inc. | 1.69% | 355,198 | $27.5M | Reduce -1.1% |
| XOM Exxon Mobil Corp. | 1.68% | 233,908 | $27.4M | Reduce -1.2% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.49% | 203,793 | $24.3M | Reduce -1.1% |
| ASML ASML Holding NV-NY Reg SHS | 1.36% | 26,705 | $22.3M | Reduce -1.0% |
| BABA Alibaba Group Holding-SP ADR | 1.24% | 190,988 | $20.3M | Reduce -0.8% |
| BKNG Booking Holdings Inc. | 1.22% | 4,725 | $19.9M | Reduce -0.7% |
| MA Mastercard Inc. Class A | 1.17% | 38,727 | $19.1M | Reduce -0.9% |
| KLAC KLA Corp. | 1.17% | 24,635 | $19.1M | Reduce -1.0% |
| ANET Arista Networks Inc. | 1.07% | 45,655 | $17.5M | Reduce -1.1% |
| VLTO Veralto Corp. | 1.06% | 154,854 | $17.3M | Reduce -1.0% |
| VRTX Vertex Pharmaceuticals Inc. | 1.04% | 36,512 | $17.0M | Reduce -1.6% |
| AME Ametek Inc. | 1.01% | 95,807 | $16.5M | Reduce -1.0% |
| WSM Williams-Sonoma Inc. | 1.01% | 105,931 | $16.4M | Reduce -1.1% |
| ADBE Adobe Inc. | 0.91% | 28,658 | $14.8M | Reduce -1.0% |
| ETSY Etsy Inc. | 0.90% | 264,689 | $14.7M | Add +152.4% |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.84% | 301,813 | $13.6M | Add +28.9% |
| JNJ Johnson & Johnson | 0.80% | 80,330 | $13.0M | Reduce -2.1% |
| EEFT Euronet Worldwide Inc. | 0.79% | 130,380 | $12.9M | Add +39.0% |
| COR Cencora Inc. | 0.79% | 57,321 | $12.9M | Reduce -1.0% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.74% | 227,655 | $12.0M | Add +1.9% |
| LNG Cheniere Energy Inc. | 0.73% | 66,169 | $11.9M | Reduce -0.7% |
| JPM JPMorgan Chase & Co. | 0.71% | 54,980 | $11.6M | Reduce -1.9% |
| CDNS Cadence Design SYS Inc. | 0.69% | 41,502 | $11.2M | Reduce -48.9% |
| PG The Procter & Gamble Co. | 0.68% | 64,066 | $11.1M | Reduce -1.7% |
| INFA Informatica Inc. Class A | 0.68% | 438,153 | $11.1M | Add +71.5% |
| IVV iShares Core S&P 500 ETF | 0.68% | 19,104 | $11.0M | Add +1.4% |
| EXEL Exelixis Inc. | 0.66% | 413,586 | $10.7M | Reduce -0.1% |
| PYPL PayPal Holdings Inc. | 0.64% | 134,263 | $10.5M | Reduce -0.7% |
| IWF iShares Russell 1000 Growth | 0.62% | 26,861 | $10.1M | Reduce -1.1% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.61% | 188,001 | $9.9M | Reduce -1.5% |
| HUM Humana Inc. | 0.59% | 30,462 | $9.6M | Reduce -0.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.58% | 20,742 | $9.5M | Reduce -1.9% |
| ADSK Autodesk Inc. | 0.58% | 34,179 | $9.4M | Reduce -0.9% |
| JAZZ Jazz Pharmaceuticals PLC | 0.55% | 80,607 | $9.0M | Reduce -0.9% |
| EOG EOG Resources Inc. | 0.55% | 73,003 | $9.0M | Reduce -2.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.52% | 104,833 | $8.5M | Reduce -1.7% |
| AYI Acuity Inc. | 0.52% | 30,554 | $8.4M | Reduce -2.3% |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.51% | 101,318 | $8.4M | Add +1.7% |
| RS Reliance Inc. | 0.51% | 28,809 | $8.3M | Reduce -2.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.50% | 37,216 | $8.2M | Reduce -2.1% |
| QCOM Qualcomm Inc. | 0.50% | 48,162 | $8.2M | Reduce -2.1% |
| ORLY O'reilly Automotive Inc. | 0.50% | 7,094 | $8.2M | Reduce -0.8% |
| APA Apa Corp. | 0.50% | 330,686 | $8.1M | Reduce -1.8% |
| COST Costco Wholesale Corp. | 0.49% | 9,089 | $8.1M | Reduce -2.0% |
| DBX Dropbox Inc. Class A | 0.49% | 315,278 | $8.0M | Reduce -1.0% |
| FHN First Horizon Corp. | 0.49% | 515,278 | $8.0M | Add +38.7% |
| AMGN Amgen Inc. | 0.49% | 24,609 | $7.9M | Reduce -2.3% |
| WFC Wells Fargo & Co. | 0.48% | 139,121 | $7.9M | Reduce -2.2% |
| GS Goldman Sachs Group Inc. | 0.48% | 15,822 | $7.8M | Reduce -1.0% |
| CHKP Check Point Software Tech | 0.48% | 40,622 | $7.8M | Reduce -2.3% |
| SIEGY Siemens AG-Spons ADR | 0.47% | 76,412 | $7.7M | Add +48.0% |
| AFL Aflac Inc. | 0.47% | 68,831 | $7.7M | Reduce -2.1% |
| ETR Entergy Corp. | 0.47% | 57,809 | $7.6M | Reduce -2.3% |
| EBAY eBay Inc. | 0.46% | 114,173 | $7.4M | Reduce -2.3% |
| EXPD Expeditors Intl Wash Inc. | 0.45% | 56,012 | $7.4M | Reduce -0.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.44% | 12,655 | $7.3M | Reduce -1.4% |
| GWW WW Grainger Inc. filed as GRAINGER W W INC | 0.44% | 6,882 | $7.1M | Reduce -23.1% |
| PHM Pultegroup Inc. | 0.44% | 49,579 | $7.1M | Reduce -2.3% |
| RHHBY Roche Holdings Ltd.-Spons ADR | 0.41% | 169,066 | $6.8M | Reduce -2.0% |
| AXS Axis Capital Holdings Ltd. | 0.41% | 84,819 | $6.8M | Reduce -3.3% |
| HBM Hudbay Minerals Inc. | 0.41% | 733,759 | $6.7M | New |
| ABBV Abbvie Inc. | 0.41% | 33,535 | $6.6M | Reduce -1.8% |
| UNH Unitedhealth Group Inc. | 0.40% | 11,232 | $6.6M | Reduce -23.9% |
| GSK GSK PLC-Spon ADR | 0.40% | 159,646 | $6.5M | Reduce -2.2% |
| PNGAY Ping An Insurance-ADR | 0.39% | 508,578 | $6.4M | New |
| EA Electronic Arts Inc. | 0.37% | 42,552 | $6.1M | Reduce -2.3% |
| SNA Snap-on Inc. | 0.37% | 21,071 | $6.1M | Reduce -2.3% |
| PEG Public Service Enterprise GP | 0.37% | 68,234 | $6.1M | Reduce -2.5% |
| WF Woori Financial-Spon ADR | 0.37% | 170,316 | $6.1M | Add +17.1% |
| AMAT Applied Materials Inc. | 0.37% | 30,106 | $6.1M | Reduce -27.0% |
| ELV Elevance Health Inc. | 0.37% | 11,516 | $6.0M | Reduce -2.3% |
| FNB FNB Corp. | 0.36% | 422,305 | $6.0M | Reduce -1.7% |
| ACGL Arch Capital Group Ltd. | 0.36% | 52,524 | $5.9M | Reduce -41.9% |
| TPR Tapestry Inc. | 0.35% | 122,963 | $5.8M | Reduce -17.1% |
| KO The Coca-Cola Co. | 0.35% | 80,289 | $5.8M | Add +0.0% |
| CRM Salesforce Inc. | 0.35% | 21,047 | $5.8M | Reduce -1.4% |
| FITB Fifth Third Bancorp | 0.35% | 134,379 | $5.8M | Reduce -1.9% |
| EPRT Essential Properties Realty | 0.35% | 168,434 | $5.8M | Add +1101.0% |
| SEB Seaboard Corp. | 0.35% | 1,820 | $5.7M | No change |
| LLY Eli Lilly & Co. | 0.35% | 6,428 | $5.7M | No change |
| GVI iShares Intermediate Governm | 0.35% | 52,611 | $5.6M | Add +2.2% |
| BNL Broadstone Net Lease Inc. | 0.34% | 296,045 | $5.6M | New |
| BMY Bristol-Myers Squibb Co. | 0.34% | 108,264 | $5.6M | Add +1874.9% |
| T AT&T Inc. | 0.34% | 254,288 | $5.6M | Reduce -39.4% |
| EMN Eastman Chemical Co. | 0.34% | 49,241 | $5.5M | Reduce -2.0% |
| MTDR Matador Resources Co. | 0.33% | 109,075 | $5.4M | Reduce -1.6% |
| CVX Chevron Corp. | 0.33% | 36,339 | $5.4M | Add +41.0% |
| NI Nisource Inc. | 0.33% | 153,906 | $5.3M | Reduce -4.4% |
| WPC WP Carey Inc. | 0.32% | 85,068 | $5.3M | Reduce -3.9% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 45,638 | $5.2M | Reduce -1.3% |
| CMCSA Comcast Corp. Class A | 0.32% | 125,068 | $5.2M | Reduce -2.1% |
| APAM Artisan Partners Asset Ma -A | 0.32% | 120,457 | $5.2M | Reduce -4.4% |
| IWD iShares Russell 1000 Value E | 0.32% | 27,111 | $5.1M | Reduce -1.1% |
| LOW Lowe's Cos Inc. | 0.31% | 18,737 | $5.1M | Reduce -2.1% |
Portfolio Sells Q2 2024 → Q3 2024
| CDNS Cadence Design SYS Inc. | Reduce -48.9% | 0.69% | −0.89 |
| CHE Chemed Corp. | Sold out | 0.00% | −0.62 |
| MBGYY Mercedes-Benz Group-Unsp ADR | Sold out | 0.00% | −0.62 |
| GOOGL Alphabet Inc. Class A | Reduce -0.6% | 4.05% | −0.56 |
| MCD McDonald's Corp. | Reduce -84.4% | 0.10% | −0.43 |
| MSFT Microsoft Corp. | Reduce -0.8% | 4.96% | −0.39 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -1.0% | 1.36% | −0.38 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -1.1% | 1.49% | −0.37 |
| C Citigroup Inc. | Sold out | 0.00% | −0.34 |
| CSCO Cisco Systems Inc. | Reduce -62.5% | 0.22% | −0.32 |
| ADT Adt Inc. | Sold out | 0.00% | −0.31 |
| SWKS Skyworks Solutions Inc. | Sold out | 0.00% | −0.30 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.29 |
| STT State Street Corp. | Sold out | 0.00% | −0.29 |
| AEP American Electric Power | Reduce -93.0% | 0.02% | −0.28 |
| AMAT Applied Materials Inc. | Reduce -27.0% | 0.37% | −0.24 |
| DINO HF Sinclair Corp. | Sold out | 0.00% | −0.22 |
| ACGL Arch Capital Group Ltd. | Reduce -41.9% | 0.36% | −0.22 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.21 |
| MSM MSC Industrial Direct Co. Class A | Sold out | 0.00% | −0.20 |
| UGI Ugi Corp. | Sold out | 0.00% | −0.18 |
| CRBG Corebridge Financial Inc. | Reduce -91.7% | 0.01% | −0.17 |
| T AT&T Inc. | Reduce -39.4% | 0.34% | −0.16 |
| AVGO Broadcom Inc. | Reduce -9.2% | 2.89% | −0.16 |
| UL Unilever PLC | Sold out | 0.00% | −0.16 |
| RDN Radian Group Inc. | Reduce -79.5% | 0.04% | −0.14 |
| AMZN Amazon.com Inc. | Reduce -0.4% | 1.95% | −0.14 |
| UPBD Upbound Group Inc. | Sold out | 0.00% | −0.14 |
| HUM Humana Inc. | Reduce -0.9% | 0.59% | −0.13 |
| MET Metlife Inc. | Reduce -89.1% | 0.02% | −0.13 |
| PM Philip Morris International | Reduce -42.7% | 0.26% | −0.13 |
| APA Apa Corp. | Reduce -1.8% | 0.50% | −0.13 |
| KLAC KLA Corp. | Reduce -1.0% | 1.17% | −0.13 |
| QCOM Qualcomm Inc. | Reduce -2.1% | 0.50% | −0.12 |
| ADBE Adobe Inc. | Reduce -1.0% | 0.91% | −0.11 |
| MTDR Matador Resources Co. | Reduce -1.6% | 0.33% | −0.09 |
| UNH Unitedhealth Group Inc. | Reduce -23.9% | 0.40% | −0.07 |
| GWW WW Grainger Inc. | Reduce -23.1% | 0.44% | −0.07 |
| IBP Installed Building Products | Sold out | 0.00% | −0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -1.6% | 1.04% | −0.06 |
| ATKR Atkore Inc. | Sold out | 0.00% | −0.06 |
| GPI Group 1 Automotive Inc. | Sold out | 0.00% | −0.05 |
| WFC Wells Fargo & Co. | Reduce -2.2% | 0.48% | −0.05 |
| TPR Tapestry Inc. | Reduce -17.1% | 0.35% | −0.05 |
| SLYV SS SPDR S&P 600 SC Val ETF | Reduce -42.4% | 0.08% | −0.05 |
| EOG EOG Resources Inc. | Reduce -2.3% | 0.55% | −0.04 |
| MRK Merck & Co. Inc. | Reduce -4.0% | 0.25% | −0.04 |
| XOM Exxon Mobil Corp. | Reduce -1.2% | 1.68% | −0.04 |
| ELV Elevance Health Inc. | Reduce -2.3% | 0.37% | −0.04 |
| COR Cencora Inc. | Reduce -1.0% | 0.79% | −0.03 |
Portfolio Buys Q2 2024 → Q3 2024
| NVDA Nvidia Corp. | Add +71.7% | 1.73% | +0.67 |
| ETSY Etsy Inc. | Add +152.4% | 0.90% | +0.51 |
| HBM Hudbay Minerals Inc. | New | 0.41% | +0.41 |
| PNGAY Ping An Insurance-ADR | New | 0.39% | +0.39 |
| BNL Broadstone Net Lease Inc. | New | 0.34% | +0.34 |
| BMY Bristol-Myers Squibb Co. | Add +1874.9% | 0.34% | +0.33 |
| EPRT Essential Properties Realty | Add +1101.0% | 0.35% | +0.33 |
| ABEV Ambev SA-ADR | New | 0.28% | +0.28 |
| SU Suncor Energy Inc. | New | 0.23% | +0.23 |
| TIMB Tim SA-ADR | New | 0.23% | +0.23 |
| NNGRY NN Group NV - Unspon ADR | New | 0.21% | +0.21 |
| TGT Target Corp. | New | 0.21% | +0.21 |
| NWE Northwestern Energy Group Inc. | Add +1218.2% | 0.21% | +0.20 |
| HSBC HSBC Holdings PLC-Spons ADR | Add +28.9% | 0.84% | +0.19 |
| SR Spire Inc. | New | 0.19% | +0.19 |
| NLY Annaly Capital Management Inc. | New | 0.19% | +0.19 |
| DNKEY Danske Bank A/S - Spon ADR | New | 0.18% | +0.18 |
| INFA Informatica Inc. Class A | Add +71.5% | 0.68% | +0.18 |
| EEFT Euronet Worldwide Inc. | Add +39.0% | 0.79% | +0.18 |
| SIEGY Siemens AG-Spons ADR | Add +48.0% | 0.47% | +0.17 |
| WPP WPP PLC-Sponsored ADR | Add +72.8% | 0.30% | +0.14 |
| WEC WEC Energy Group Inc. | Add +39.7% | 0.30% | +0.12 |
| FHN First Horizon Corp. | Add +38.7% | 0.49% | +0.12 |
| SKM SK Telecom Co. Ltd.-Spon ADR | Add +45.6% | 0.26% | +0.10 |
| GTY Getty Realty Corp. | Add +41.2% | 0.24% | +0.09 |
| GLW Corning Inc. | Add +34.9% | 0.24% | +0.08 |
| WF Woori Financial-Spon ADR | Add +17.1% | 0.37% | +0.08 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Add +36.5% | 0.25% | +0.07 |
| CVX Chevron Corp. | Add +41.0% | 0.33% | +0.07 |
| KMB Kimberly-Clark Corp. | Add +28.2% | 0.30% | +0.07 |
| KOF Coca-Cola Femsa Sab-SP ADR | Add +35.4% | 0.23% | +0.06 |
| SHEL Shell PLC-ADR | Add +41.5% | 0.28% | +0.06 |
| YOU Clear Secure Inc. Class A | Add +108.8% | 0.07% | +0.05 |
| VRTS Virtus Investment Partners | Add +36.1% | 0.29% | +0.05 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +1.9% | 0.74% | +0.05 |
| COLL Collegium Pharmaceutical Inc. | New | 0.05% | +0.05 |
| SCHB Schwab US Broad Market ETF | Add +41.4% | 0.13% | +0.04 |
| ARKB ARK 21SHARES Bitcoin ETF | Add +129.3% | 0.07% | +0.04 |
| ALSN Allison Transmission Holding | Add +10.6% | 0.14% | +0.04 |
| FIX Comfort Systems USA Inc. | Add +11.7% | 0.13% | +0.04 |
| STRL Sterling Infrastructure Inc. | Add +11.5% | 0.14% | +0.04 |
| CPRX Catalyst Pharmaceuticals Inc. | Add +121.7% | 0.05% | +0.03 |
| CDP Copt Defense Properties | New | 0.03% | +0.03 |
| FTDR Frontdoor Inc. | Add +91.7% | 0.05% | +0.03 |
| ACIW Aci Worldwide Inc. | Add +98.2% | 0.05% | +0.03 |
| EME Emcor Group Inc. | Add +8.7% | 0.16% | +0.03 |
| KO The Coca-Cola Co. | Add +0.0% | 0.35% | +0.03 |
| AGX Argan Inc. | New | 0.03% | +0.03 |
| MLI Mueller Industries Inc. | Add +11.4% | 0.10% | +0.03 |
| CORT Corcept Therapeutics Inc. | Add +10.0% | 0.08% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q4 2025 | 322 | $1.5B | AAPL, GOOGL, MSFT, AVGO, NVDA |
| Q3 2025 | 328 | $1.5B | AAPL, MSFT, GOOGL, AVGO, NVDA |
| Q2 2025 | 326 | $1.6B | MSFT, AAPL, AVGO, GOOGL, NVDA |
| Q1 2025 | 321 | $1.5B | AAPL, MSFT, GOOGL, AVGO, NVDA |
| Q4 2024 | 328 | $1.6B | AAPL, MSFT, GOOGL, AVGO, NVDA |
| Q3 2024 | 336 | $1.6B | AAPL, MSFT, GOOGL, AVGO, AMZN |
| Q2 2024 | 334 | $1.6B | AAPL, MSFT, GOOGL, AVGO, AMZN |
| Q1 2024 | 343 | $1.6B | AAPL, MSFT, GOOGL, AVGO, AMZN |