Meritage Group LP — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Meritage Group LP initiated 5 new positions, increased allocation to 4 existing positions, trimmed 4 positions, and exited 2 positions entirely. The fund's 13F equity book declined from $3.22B to $2.65B (-17.6% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $3.22BPrior quarter
- $2.65BCurrent quarter
- $-0.57BNet delta
- -17.6%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| AON PLC | AON | 8.28% | History → |
| S&P GLOBAL INC | SPGI | 8.10% | History → |
| COSTAR GROUP INC | CSGP | 5.07% | History → |
| TOAST INC | TOST | 3.41% | Holders → |
| STATE STREET SPDR S&P 500 ETF | SPY | 1.27% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| MICROSOFT CORP | MSFT | +-1.24% | +0.65% | History → |
| WORKDAY INC | WDAY | +-2.81% | +0.65% | History → |
| AMAZON COM INC | AMZN | +1.35% | +0.65% | History → |
| PROCORE TECHNOLOGIES INC | PCOR | +-0.28% | +0.33% | History → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| TRANSUNION | TRU | -4.74% | -31.90% | History → |
| CAPITAL ONE FINL CORP | COF | -4.81% | -28.52% | History → |
| MSCI INC | MSCI | -0.07% | -12.97% | History → |
| EQUIFAX INC | EFX | -0.07% | -6.76% | Holders → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| RESTAURANT BRANDS INTERNATIONAL, INC. | QSR | 6.79% |
| SOMNIGROUP INTERNATIONAL INC | SGI | 6.67% |
Methodology & FAQ
How Meritage Group LP Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Meritage Group LP against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did Meritage Group LP initiate in Q1 2026?
Meritage Group LP established 5 new positions in Q1 2026: AON PLC (AON, 8.28%), S&P GLOBAL INC (SPGI, 8.10%), COSTAR GROUP INC (CSGP, 5.07%), TOAST INC (TOST, 3.41%), STATE STREET SPDR S&P 500 ETF (SPY, 1.27%).
Which existing positions saw the largest allocation increases for Meritage Group LP in Q1 2026?
The largest portfolio-weight increases in existing positions were: MICROSOFT CORP (MSFT, +-1.24% weight, +0.65% shares), WORKDAY INC (WDAY, +-2.81% weight, +0.65% shares), AMAZON COM INC (AMZN, +1.35% weight, +0.65% shares), PROCORE TECHNOLOGIES INC (PCOR, +-0.28% weight, +0.33% shares).
Which positions did Meritage Group LP fully exit in Q1 2026?
Meritage Group LP fully exited 2 positions in Q1 2026: RESTAURANT BRANDS INTERNATIONAL, INC. (QSR, last-reported weight 6.79%), SOMNIGROUP INTERNATIONAL INC (SGI, last-reported weight 6.67%).
Which existing positions saw the largest allocation reductions for Meritage Group LP in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: TRANSUNION (TRU, -4.74% weight, -31.90% shares), CAPITAL ONE FINL CORP (COF, -4.81% weight, -28.52% shares), MSCI INC (MSCI, -0.07% weight, -12.97% shares), EQUIFAX INC (EFX, -0.07% weight, -6.76% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.