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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 8 of 17  ·  322 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
141 BKH BLACK HILLS CORP Utilities 41,683.0 $2.9M 0.19% -43K -50.6% $69.42 +6.8%
142 LADR LADDER CAPITAL CORP Real Estate 257,373.0 $2.8M 0.19% $10.99 -9.2%
143 DTE DTE ENERGY CO Utilities 21,640.0 $2.8M 0.18% NEW $128.98 +11.5%
144 FIX COMFORT SYSTEMS USA INC Industrials 2,965.0 $2.8M 0.18% -321.0 -9.8% $933.29 +96.5%
145 HMN HORACE MANN EDUCATORS CORP Financial Services 59,364.0 $2.7M 0.18% -572.0 -0.9% $46.18 +3.2%
146 LMT LOCKHEED MARTIN CORP Industrials 5,577.0 $2.7M 0.18% +5K +950.3% $483.67 +8.1%
147 OSPN ONESPAN INC Technology 207,736.0 $2.7M 0.18% +59K +40.0% $12.84 -0.2%
148 RIO RIO TINTO PLC SPONSORED ADR Basic Materials 33,195.0 $2.7M 0.18% $80.03 +29.1%
149 EME EMCOR GROUP INC Industrials 4,298.0 $2.6M 0.17% -412.0 -8.8% $611.79 +38.8%
150 VYM VANGUARD HIGH DIVIDEND YIELD E 17,794.0 $2.6M 0.17% -203.0 -1.1% $143.52 +9.6%
151 RMBS RAMBUS INC Technology 27,432.0 $2.5M 0.17% -1K -4.7% $91.89 +45.3%
152 ESGV VANGUARD ESG US STOCK ETF 20,283.0 $2.5M 0.16% +1K +7.8% $120.96 +8.3%
153 ITUB ITAU UNIBANCO HOLDINGS S.A. Financial Services 330,447.0 $2.4M 0.16% +7K +2.1% $7.16 +11.7%
154 WMT WAL-MART STORES INC Consumer Defensive 21,080.0 $2.3M 0.16% $111.41 +17.4%
155 GLPI GAMING AND LEISURE PROPERTIES Real Estate 52,303.0 $2.3M 0.15% -2K -2.8% $44.69 +6.3%
156 QFIN QFIN HOLDINGS INC Financial Services 118,969.0 $2.3M 0.15% +42K +54.8% $19.27 -34.8%
157 IJR ISHARES S&P SMALLCAP 600 16,843.0 $2.0M 0.13% -290.0 -1.7% $120.18 +13.4%
158 SUPN SUPERNUS PHARMACEUTICALS INC Healthcare 37,882.0 $1.9M 0.12% -3K -7.7% $49.70 -2.0%
159 GOOG ALPHABET INC CL C Communication Services 5,811.0 $1.8M 0.12% -364.0 -5.9% $313.81 +22.2%
160 SPHD INVESCO S&P 500 HIGH DIV LOW V 37,810.0 $1.8M 0.12% +2K +6.6% $48.00 +4.5%
Page 8 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%