Merit Investment Management

Merit Investment Management as of Sept. 30, 2011

Portfolio Holdings for Merit Investment Management

Merit Investment Management holds 33 positions in its portfolio as reported in the September 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Annaly Capital Management 30.1 $16M 957k 16.63
At&t (T) 15.4 $8.2M 287k 28.52
Frontier Communications 6.0 $3.2M 520k 6.11
Enerplus Corp 5.2 $2.8M 112k 24.54
ARMOUR Residential REIT 4.8 $2.6M 376k 6.80
Inergy 4.5 $2.4M 95k 25.02
Pitney Bowes (PBI) 3.4 $1.8M 96k 18.80
Windstream Corporation 3.4 $1.8M 152k 11.65
Cellcom Israel (CELJF) 2.6 $1.4M 66k 20.89
Apple (AAPL) 2.2 $1.1M 3.0k 381.22
Cys Investments 1.8 $927k 77k 12.09
Altria Group 1.6 $867k 32k 26.81
Reynolds American 1.6 $861k 23k 37.47
Pepco Holdings 1.6 $857k 45k 18.92
Greif (GEF.B) 1.4 $716k 17k 42.98
BP Prudhoe Bay Royalty Trust (BPT) 1.0 $519k 4.9k 105.25
Merck & Co (MRK) 0.9 $491k 15k 32.73
Exelon Corporation (EXC) 0.9 $490k 12k 42.63
H.J. Heinz Company 0.9 $479k 9.5k 50.44
Portland General Electric Company (POR) 0.9 $477k 20k 23.67
Diageo (DEO) 0.9 $474k 6.2k 75.90
DTE Energy Company (DTE) 0.9 $478k 9.8k 49.03
GlaxoSmithKline 0.9 $468k 11k 41.27
Kinder Morgan Energy Partners 0.9 $464k 6.8k 68.43
ConAgra Foods (CAG) 0.9 $461k 19k 24.23
Provident Energy 0.9 $457k 56k 8.15
Pfizer (PFE) 0.8 $439k 25k 17.68
Seadrill 0.8 $422k 15k 27.52
CenturyLink 0.8 $411k 12k 33.13
CVS Caremark Corporation (CVS) 0.7 $364k 11k 33.55
Penn Virginia Resource Partners 0.6 $330k 14k 23.42
Pengrowth Energy Corp 0.5 $282k 31k 8.98
Linn Energy 0.2 $111k 3.1k 35.55