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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 3 of 17  ·  322 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 SIEMENS A G SPONSORED ADR 64,192.0 $9.0M 0.60% -2K -3.2% $139.95
42 ENTERGY CORP 96,528.0 $8.9M 0.59% -3K -3.3% $92.43
43 ABBV ABBVIE INC Healthcare 37,798.0 $8.6M 0.57% -1K -2.8% $228.49 -6.1%
44 ANET ARISTA NETWORKS Technology 65,524.0 $8.6M 0.57% -32K -33.0% $131.03 +13.4%
45 EBAY EBAY INC Consumer Cyclical 95,973.0 $8.4M 0.56% -3K -3.3% $87.10 +34.5%
46 IBM INTL BUSINESS MACHINES Technology 27,262.0 $8.1M 0.54% -863.0 -3.1% $296.21 -14.6%
47 XLU UTILITIES SELECT SECTOR SPDR 180,774.0 $7.7M 0.51% +88K +95.0% $42.69 +5.4%
48 FORTINET INC. 94,455.0 $7.5M 0.50% -44K -31.9% $79.41
49 PING AN INSURANCE GROUP 444,493.0 $7.5M 0.49% $16.78
50 PG PROCTER & GAMBLE CO Consumer Defensive 51,376.0 $7.4M 0.49% -2K -3.8% $143.31 -0.6%
51 ADSK AUTODESK INC Technology 23,747.0 $7.0M 0.47% -548.0 -2.3% $296.01 -18.9%
52 QCOM QUALCOMM Technology 40,938.0 $7.0M 0.47% -1K -2.6% $171.05 +18.4%
53 RS RELIANCE INC Basic Materials 24,207.0 $7.0M 0.46% -869.0 -3.5% $288.87 +25.4%
54 ADBE ADOBE INC Technology 19,975.0 $7.0M 0.46% -359.0 -1.8% $349.99 -30.3%
55 TIGO MILLICOM INTL CELLULAR SA Communication Services 124,666.0 $6.9M 0.46% -4K -3.0% $55.44 +51.7%
56 PNC PNC FINANCIAL Financial Services 32,803.0 $6.8M 0.45% -388.0 -1.2% $208.73 +3.9%
57 USB US BANCORP Financial Services 127,991.0 $6.8M 0.45% -1K -1.1% $53.36 +2.1%
58 SPY S & P 500 DEPOSITARY RECEIPT Financial Services 9,966.0 $6.8M 0.45% -724.0 -6.8% $681.93 +8.9%
59 COST COSTCO WHOLESALE CORP Consumer Defensive 7,701.0 $6.6M 0.44% -180.0 -2.3% $862.35 +21.8%
60 XOM EXXON MOBIL CORP Energy 54,340.0 $6.5M 0.43% -1K -2.2% $120.34 +29.9%
Page 3 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%