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Portfolio (Quarterly) Guide ↗

MERITAGE PORTFOLIO MANAGEMENT

· CIK 0000881432
13F Portfolio $1.5B AUM 323 positions Filed Jan 27, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 19 New 51 Added 200 Reduced 25 Exited
Page 16 of 17  ·  322 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
301 SGOL ABERDEEN STANDARD PHYSICAL GOL Financial Services 5,280.0 $217K 0.01% NEW $41.08 +5.3%
302 EMR EMERSON ELECTRIC Industrials 1,615.0 $214K 0.01% $132.72 +1.6%
303 MRK MERCK & CO INC Healthcare 2,003.0 $211K 0.01% NEW $105.24 +10.1%
304 CTRA COTERRA ENERGY INC. Energy 7,961.0 $210K 0.01% NEW $26.32 +23.7%
305 EIG EMPLOYERS HOLDINGS Financial Services 4,834.0 $209K 0.01% -1K -20.4% $43.17 +1.4%
306 UFPI UFP INDUSTRIES, INC Basic Materials 2,289.0 $208K 0.01% -599.0 -20.7% $91.05 -12.1%
307 MDY S & P 400 MID CAP DEP RECPT Financial Services 345.0 $208K 0.01% $603.28 +10.3%
308 PATHWARD FINANCIAL INC 2,930.0 $208K 0.01% -1K -25.5% $71.00
309 CBZ CBIZ INC Industrials 4,110.0 $207K 0.01% $50.45 -36.5%
310 IQDF FLEXSHARES-INT QUAL DVD INDEX 6,750.0 $205K 0.01% NEW $30.40 +13.8%
311 STLD STEEL DYNAMICS INC Basic Materials 1,206.0 $204K 0.01% NEW $169.45 +34.7%
312 EFA ISHARES MSCI EAFE INDEX FUND 2,126.0 $204K 0.01% NEW $96.03 +8.5%
313 TSLA TESLA, INC. Consumer Cyclical 453.0 $204K 0.01% -30.0 -6.2% $449.72 -7.2%
314 RTX RAYTHEON TECHNOLOGIES Industrials 1,101.0 $202K 0.01% NEW $183.40 -4.7%
315 HYDROGRAPH CLEAN POWER INC 80,050.0 $152K 0.01% $1.90
316 SGMO SANGAMO BIOSCIENCES INC Healthcare 227,000.0 $95K 0.01% +50K +28.2% $0.42 -61.9%
317 UVIX 2X LONG VIX FUTURES ETF Financial Services 14,192.0 $81K 0.01% NEW $5.71 -20.5%
318 GREENFIRST FOREST PRODUCTS 15,000.0 $19K 0.00% NEW $1.25
319 CONSOLIDATED BIOFUELS INC 32,500.0 +22K +225.0%
320 CONTIFINANCIAL LIQ TR UNIT BEN 46,800.0
Page 16 of 17  ·  322 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 33.4%
Financial Services 15.0%
Communication Services 11.5%
Consumer Cyclical 11.0%
Healthcare 7.8%
Industrials 5.8%
Energy 4.8%
Consumer Defensive 3.6%
Real Estate 3.4%
Utilities 2.8%