Meritage Group LP

Meritage Group LP is an investment management firm that operates as a hedge fund sponsor. The company was established in 2006 and is currently based out of its original founding city of San Francisco. Meritage Group can trace its history back to the Bar Development Company, which was established in 1976. The company conducts its research both internally and externally, utilizing a fundamental methodology to make its investment decisions. The company invests in the public equity and fixed income markets on a global scale and is headed by Chairman Nathaniel Simons and co-Presidents Alex Richard Magaro and David Kenneth Zierk. Meritage Group has grown from its inception to have 42 employees of which 20 are investment professionals. The company invests most heavily in the consumer discretionary sector, which alone makes up over a third of its total asset allocations, and also invests in the information technology sector, making up another fifth of its total allocations, finance, utilities and telecommunications, health care, and transports sectors, among other sectors to a lesser degree, in order of decreasing allocation. Meritage Group’s top holdings include Charter Communications Inc., American Tower Corp., and Valeant Pharmaceuticals Inc. The firm’s top 10 holdings alone make up almost two thirds of its total holdings and the company has a turnover rate of approximately 19.4%. Meritage Group holds over $12.3 billion in total assets under management spread across 11 accounts, all of which are discretionary. Both of the firm’s total assets under management and total number of accounts have been increasing in recent years with its total managed assets growing significantly from $5.6 billion back in 2010 to well over twice that amount today. Meritage Group mainly caters to pooled investment vehicles, which alone makes up over 90% of its total client base, and also provides services to charities to a lesser degree.