Meritage Portfolio Management

Meritage Portfolio Management as of March 31, 2012

Portfolio Holdings for Meritage Portfolio Management

Meritage Portfolio Management holds 182 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Apple (AAPL) 2.6 $16M 27k 599.54
ProShares Short S&P500 2.3 $14M 403k 35.76
Seaboard Corporation (SEB) 2.1 $13M 6.8k 1951.06
Microsoft Corporation (MSFT) 1.8 $12M 360k 32.25
Exxon Mobil Corporation (XOM) 1.8 $11M 131k 86.73
McKesson Corporation (MCK) 1.6 $10M 115k 87.77
SPDR S&P Oil & Gas Explore & Prod. 1.6 $10M 175k 56.91
International Business Machines (IBM) 1.5 $9.8M 47k 208.65
Pfizer (PFE) 1.3 $8.2M 361k 22.64
Chevron Corporation (CVX) 1.2 $8.0M 74k 107.21
Oracle Corporation (ORCL) 1.2 $7.4M 255k 29.16
Eli Lilly & Co. (LLY) 1.2 $7.4M 183k 40.26
Church & Dwight (CHD) 1.1 $7.2M 146k 49.19
Discover Financial Services (DFS) 1.1 $6.9M 206k 33.34
Bristol Myers Squibb (BMY) 1.1 $6.9M 204k 33.75
iShares Russell 1000 Growth Index (IWF) 1.0 $6.4M 97k 66.08
Google 1.0 $6.4M 9.9k 641.26
Public Service Enterprise (PEG) 1.0 $6.3M 207k 30.61
Asml Holding Nv Adr depository receipts 1.0 $6.2M 124k 50.14
American Electric Power Company (AEP) 0.9 $6.0M 155k 38.58
Corrections Corporation of America 0.9 $5.7M 209k 27.31
iShares Russell 1000 Value Index (IWD) 0.9 $5.6M 80k 70.07
Novo Nordisk A/S (NVO) 0.9 $5.5M 40k 138.70
Bayer (BAYRY) 0.8 $5.4M 77k 70.29
Adobe Systems Incorporated (ADBE) 0.8 $5.3M 155k 34.31
Prudential Financial (PRU) 0.8 $5.3M 84k 63.39
CVS Caremark Corporation (CVS) 0.8 $5.2M 117k 44.80
Dover Corporation (DOV) 0.8 $5.2M 83k 62.94
CIGNA Corporation 0.8 $5.1M 104k 49.25
Torchmark Corporation 0.8 $5.1M 102k 49.85
Danaher Corporation (DHR) 0.8 $5.1M 91k 56.00
Imperial Tobac 0.8 $5.0M 62k 81.38
Yum! Brands (YUM) 0.8 $4.9M 69k 71.18
Reinsurance Group of America (RGA) 0.8 $4.9M 82k 59.46
MetLife (MET) 0.8 $4.9M 130k 37.35
CHECK POINT SOFTWARE Technolog Com Stk (CHKP) 0.8 $4.8M 76k 63.83
KBR (KBR) 0.8 $4.8M 135k 35.55
Ross Stores (ROST) 0.8 $4.8M 83k 58.10
Colgate-Palmolive Company (CL) 0.8 $4.8M 49k 97.77
Vanguard Financials ETF (VFH) 0.8 $4.8M 146k 32.97
Synopsys (SNPS) 0.7 $4.7M 154k 30.66
Wells Fargo & Company (WFC) 0.7 $4.6M 136k 34.14
Nice Systems (NICE) 0.7 $4.6M 118k 39.30
SPDR KBW Bank (KBE) 0.7 $4.7M 196k 23.85
ConocoPhillips (COP) 0.7 $4.6M 61k 76.01
Merck & Co (MRK) 0.7 $4.6M 120k 38.40
Industries N shs - a - (LYB) 0.7 $4.5M 103k 43.65
Nu Skin Enterprises (NUS) 0.7 $4.4M 76k 57.91
Royal Dutch Shell 0.7 $4.3M 62k 70.12
Symantec Corporation 0.7 $4.3M 231k 18.70
Lukoil 0.7 $4.3M 71k 60.80
Northrop Grumman Corporation (NOC) 0.7 $4.3M 70k 61.08
Coca-Cola Company (KO) 0.7 $4.2M 56k 74.02
Philip Morris International (PM) 0.7 $4.2M 48k 88.61
TJX Companies (TJX) 0.6 $4.1M 102k 39.71
Corn Products International 0.6 $4.1M 70k 57.65
MasterCard Incorporated (MA) 0.6 $4.0M 9.5k 420.57
General Dynamics Corporation (GD) 0.6 $4.0M 55k 73.37
Key (KEY) 0.6 $3.9M 457k 8.50
UnitedHealth (UNH) 0.6 $3.8M 65k 58.94
Ace Limited Cmn 0.6 $3.8M 52k 73.20
Spdr S&p 500 Etf (SPY) 0.6 $3.7M 27k 140.80
Hubbell Incorporated 0.6 $3.7M 47k 78.58
China Mobile 0.6 $3.6M 66k 55.08
Johnson & Johnson (JNJ) 0.6 $3.7M 56k 65.97
Reynolds American 0.6 $3.6M 87k 41.44
Quest Software 0.6 $3.7M 157k 23.27
Freeport-McMoRan Copper & Gold (FCX) 0.6 $3.6M 94k 38.04
Celgene Corporation 0.6 $3.5M 46k 77.51
Zurich Insurance (ZURVY) 0.6 $3.5M 129k 26.98
Altria (MO) 0.5 $3.4M 111k 30.87
Humana (HUM) 0.5 $3.5M 37k 92.47
Apollo 0.5 $3.4M 88k 38.64
Gra (GGG) 0.5 $3.4M 64k 53.06
Financial Select Sector SPDR (XLF) 0.5 $3.4M 214k 15.80
Universal Corporation (UVV) 0.5 $3.3M 70k 46.60
Intuit (INTU) 0.5 $3.2M 54k 60.16
Cummins (CMI) 0.5 $3.2M 27k 120.06
NVIDIA Corporation (NVDA) 0.5 $3.2M 209k 15.39
Herbalife Ltd Com Stk (HLF) 0.5 $3.2M 47k 68.82
Plains All American Pipeline (PAA) 0.5 $3.2M 41k 78.45
Polaris Industries (PII) 0.5 $3.1M 43k 72.16
Elizabeth Arden 0.5 $3.1M 89k 34.98
Ametek (AME) 0.5 $3.1M 64k 48.52
Union Pacific Corporation (UNP) 0.5 $3.1M 29k 107.47
Lockheed Martin Corporation (LMT) 0.5 $3.0M 34k 89.85
Directv 0.5 $3.1M 62k 49.34
EMC Corporation 0.5 $3.1M 103k 29.88
Bce (BCE) 0.5 $3.1M 77k 40.06
LVMH Moet Hennessy Louis Vuitton SA (LVMUY) 0.5 $3.1M 89k 34.31
Arthur J. Gallagher & Co. (AJG) 0.5 $3.0M 83k 35.73
H&R Block (HRB) 0.5 $3.0M 183k 16.47
Lincoln Electric Holdings (LECO) 0.5 $3.0M 66k 45.35
La-Z-Boy Incorporated (LZB) 0.5 $3.0M 199k 14.96
Maximus (MMS) 0.5 $3.0M 74k 40.67
Enterprise Products Partners (EPD) 0.5 $3.0M 60k 50.46
Fiserv (FI) 0.5 $2.9M 42k 69.39
Poly 0.5 $2.9M 154k 19.07
Chesapeake Midstream Partners 0.5 $2.9M 99k 29.72
Metlife Inc 5% 10/0/14 Conv Pr cv prf 0.5 $2.9M 42k 70.73
BMC Software 0.5 $2.8M 71k 40.15
Dell 0.5 $2.9M 173k 16.60
Windstream Corporation 0.5 $2.9M 244k 11.70
Calumet Specialty Products Partners, L.P (CLMT) 0.5 $2.8M 108k 26.42
Chicago Bridge & Iron Company 0.5 $2.9M 66k 43.19
Hartford Finl Svcs Group Inc dep conv p 0.4 $2.8M 131k 21.44
Kimberly-Clark Corporation (KMB) 0.4 $2.8M 38k 73.89
Via 0.4 $2.7M 57k 47.45
Apache Corp. 6% Mandatory Conv pfd cv 0.4 $2.8M 50k 55.58
Intel Corporation (INTC) 0.4 $2.7M 95k 28.11
Marvell Technology Group 0.4 $2.7M 169k 15.73
National Australia Bank (NABZY) 0.4 $2.7M 104k 25.63
Bed Bath & Beyond 0.4 $2.6M 40k 65.77
AstraZeneca (AZN) 0.4 $2.6M 59k 44.49
Intuitive Surgical (ISRG) 0.4 $2.6M 4.8k 541.75
Shire 0.4 $2.6M 28k 94.73
Varian Medical Systems 0.4 $2.6M 38k 68.95
MKS Instruments (MKSI) 0.4 $2.6M 88k 29.53
Telecom Argentina (TEO) 0.4 $2.6M 147k 17.72
NiSource (NI) 0.4 $2.5M 105k 24.35
Sauer-Danfoss 0.4 $2.5M 54k 47.00
GlaxoSmithKline 0.4 $2.5M 56k 44.91
Eni S.p.A. (E) 0.4 $2.5M 53k 46.83
Senior Housing Properties Trust 0.4 $2.5M 113k 22.05
Gilead Sciences (GILD) 0.4 $2.4M 49k 48.86
Dolby Laboratories (DLB) 0.4 $2.4M 63k 38.05
CenturyLink 0.4 $2.3M 61k 38.64
Vanguard Natural Resources 0.4 $2.4M 86k 27.61
Ppl Corp unit 99/99/9999 0.4 $2.4M 44k 54.20
Telecom Corp of New Zealand 0.4 $2.3M 229k 9.92
Lam Research Corporation (LRCX) 0.4 $2.3M 51k 44.62
BreitBurn Energy Partners 0.3 $2.2M 115k 19.12
Nordson Corporation (NDSN) 0.3 $2.2M 41k 54.51
Penn Virginia Resource Partners 0.3 $2.2M 102k 21.83
Babcock & Wilcox 0.3 $2.2M 87k 25.75
Occidental Petroleum Corporation (OXY) 0.3 $2.2M 23k 95.23
Westpac Banking Corporation 0.3 $2.1M 19k 113.78
GameStop (GME) 0.3 $2.1M 97k 21.84
Oneok Partners 0.3 $2.1M 38k 54.66
At&t (T) 0.3 $2.0M 63k 31.23
Entergy Corporation (ETR) 0.3 $2.0M 30k 67.19
Mercury General Corporation (MCY) 0.3 $1.9M 43k 43.75
Ares Capital Corporation (ARCC) 0.3 $1.9M 118k 16.35
AGL Resources 0.3 $1.8M 47k 39.21
Teekay Lng Partners 0.3 $1.9M 48k 39.15
Anglogold Ashanti Holdings Fin pfd cv 0.3 $1.8M 42k 43.09
Fly Leasing 0.3 $1.8M 144k 12.21
Exelis 0.3 $1.7M 138k 12.52
UMB Financial Corporation (UMBF) 0.3 $1.7M 37k 44.74
Pioneer Southwest Energy Partners 0.3 $1.6M 62k 26.73
Expedia (EXPE) 0.3 $1.6M 49k 33.44
Hercules Technology Growth Capital (HTGC) 0.2 $1.4M 129k 11.08
Univest Corp. of PA (UVSP) 0.2 $1.5M 88k 16.78
PDL BioPharma 0.2 $1.4M 218k 6.36
Inergy 0.2 $1.2M 74k 16.37
Douglas Dynamics (PLOW) 0.2 $1.2M 87k 13.75
Schlumberger (SLB) 0.2 $1.1M 15k 69.92
iShares S&P SmallCap 600 Index (IJR) 0.1 $857k 11k 76.35
Wal-Mart Stores (WMT) 0.1 $777k 13k 61.18
Boeing Company (BA) 0.1 $710k 9.5k 74.42
Amgen (AMGN) 0.1 $632k 9.3k 67.96
iShares Dow Jones Select Dividend (DVY) 0.1 $561k 10k 56.00
U.S. Bancorp (USB) 0.1 $536k 17k 31.67
Pepsi (PEP) 0.1 $481k 7.2k 66.41
Rydex S&P Equal Weight ETF 0.1 $487k 9.4k 51.85
First Eagle Global A (SGENX) 0.1 $517k 11k 49.00
SPDR S&P Dividend (SDY) 0.1 $434k 7.7k 56.66
Home Depot (HD) 0.1 $411k 8.2k 50.31
General Electric Company 0.1 $413k 21k 20.05
E.I. du Pont de Nemours & Company 0.1 $397k 7.5k 52.93
Pioneer Natural Resources (PXD) 0.1 $412k 3.7k 111.50
iShares Russell 2000 Index (IWM) 0.1 $382k 4.6k 82.88
Schwab Total Stock Mrkt Ind-se (SWTSX) 0.1 $379k 15k 25.50
McDonald's Corporation (MCD) 0.1 $334k 3.4k 98.24
Cerner Corporation 0.1 $294k 3.9k 76.17
iShares Russell 2000 Value Index (IWN) 0.1 $330k 4.5k 72.94
iShares Russell 3000 Index (IWV) 0.0 $239k 2.9k 83.13
SPDR S&P MidCap 400 ETF (MDY) 0.0 $245k 1.4k 180.41
Claymore/Zacks Multi-Asset Inc Idx 0.0 $276k 13k 21.89
Berkshire Hathaway (BRK.B) 0.0 $218k 2.7k 81.13
Weatherford International Lt reg 0.0 $205k 14k 15.07
Bank of America Corporation (BAC) 0.0 $130k 14k 9.56