13F-HR 1 sept2012.txt SEPTEMBER 2012 FILING FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment ? ?; Amendment Number: This Amendment (Check only one.): ? ? is a restatement. ? ? adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Meritage Portfolio Management Address:7500 College Boulevard Suite 1212 Overland Park, KS 66210 13F File Number: 28-3019 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: David R. Phillips Title: Director of Operations Phone: 913-345-7057 Signature, Place, and Date of Signing: David R. Phillips Overland Park, KS October 30, 2012 Report Type (Check only one.): ? X ? 13F HOLDINGS REPORT. ? ? 13F NOTICE. ? ? 13F COMBINATION REPORT. List of Other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M CO COMMON 88579Y101 4545 49180.000 SH Sole 49180.000 AARONS INC COMMON 002535300 4075 146525.000 SH Sole 146525.000 ACCESS MIDSTREAM PARTNERS, L.P COMMON 00434L109 1594 48120.000 SH Sole 48120.000 ACE LIMITED COMMON H0023R105 3998 52884.000 SH Sole 52884.000 ADOBE SYSTEMS COMMON 00724F101 4906 151241.000 SH Sole 151241.000 ALTRIA GROUP INC COMMON 02209S103 2884 86363.402 SH Sole 86363.402 AMERICAN ELECTRIC POWER COMMON 025537101 7605 173088.000 SH Sole 173088.000 AMETEK INC COMMON 031100100 3488 98396.000 SH Sole 98396.000 AMGEN COMMON 031162100 556 6600.000 SH Sole 6600.000 APACHE CORP 08/01/13 6.0% CONV COMMON 037411808 2397 49140.000 SH Sole 49140.000 APPLE COMPUTER INC COM COMMON 037833100 14381 21558.000 SH Sole 21558.000 7 10.000 SH Other 10.000 ARES CAPITAL CORPORATION COMMON 04010L103 2016 117630.000 SH Sole 117630.000 ARTHUR J. GALLAGHER & CO. COMMON 363576109 3012 84090.000 SH Sole 84090.000 ASTRAZENECA PLC SPONSORED ADR COMMON 046353108 2816 58836.000 SH Sole 58836.000 AT & T INC COMMON 00206R102 2362 62663.000 SH Sole 62663.000 AVAGO TECHNOLOGIES LTD COMMON Y0486S104 2337 67020.000 SH Sole 67020.000 B P PLC-SPON ADR COMMON 055622104 2905 68579.000 SH Sole 68579.000 BANK OF AMERICA CORP COMMON 060505104 120 13594.000 SH Sole 13594.000 BAYER AG ADS COMMON 072730302 6399 74506.000 SH Sole 74506.000 BCE INC COM COMMON 05534B760 3373 76772.000 SH Sole 76772.000 BED BATH & BEYOND COMMON 075896100 4292 68120.000 SH Sole 68120.000 3 40.000 SH Other 40.000 BERKSHIRE HATHAWAY INC CL B COMMON 084670702 234 2650.000 SH Sole 2650.000 4 50.000 SH Other 50.000 BLOCK H & R INC COMMON 093671105 3156 182095.000 SH Sole 182095.000 BMC SOFTWARE INC COM COMMON 055921100 3032 73084.000 SH Sole 73084.000 BOEING CO COM COMMON 097023105 661 9500.000 SH Sole 9500.000 2 35.000 SH Other 35.000 BRISTOL-MYERS SQUIBB COMMON 110122108 6758 200227.000 SH Sole 200227.000 BROADCOM CORP CL A COMMON 111320107 4423 127938.000 SH Sole 127938.000 CALUMET SPECIALTY PRODUCTS PAR COMMON 131476103 3409 106525.000 SH Sole 106525.000 CELGENE CORP COMMON 151020104 3443 45067.000 SH Sole 45067.000 3 40.000 SH Other 40.000 CENTURYLINK COMMON 156700106 2438 60352.000 SH Sole 60352.000 CERNER CORP COMMON 156782104 252 3260.000 SH Sole 3260.000 CHECK POINT SOFTWARE TECH COMMON M22465104 3557 73865.000 SH Sole 73865.000 CHEVRON CORP COMMON 166764100 8489 72829.609 SH Sole 72829.609 CHICAGO BRIDGE & IRON COMPANY COMMON 167250109 3818 100232.000 SH Sole 100232.000 3 75.000 SH Other 75.000 CHINA MOBILE LTD ADS COMMON 16941M109 3577 64607.000 SH Sole 64607.000 CIGNA CORP COM COMMON 125509109 4808 101920.000 SH Sole 101920.000 COCA COLA CO COMMON 191216100 4279 112814.000 SH Sole 112814.000 COLGATE-PALMOLIVE COMMON 194162103 5277 49220.000 SH Sole 49220.000 CONOCOPHILLIPS COMMON 20825C104 4658 81465.000 SH Sole 81465.000 COPART INC COM COMMON 217204106 3098 111733.000 SH Sole 111733.000 CVS/CAREMARK CORP COMMON 126650100 5469 112955.000 SH Sole 112955.000 DANAHER CORP COMMON 235851102 5174 93813.000 SH Sole 93813.000 DEUTSCHE TELEKOM AG COMMON 251566105 5114 414776.000 SH Sole 414776.000 DIRECTV COMMON 25490A309 3356 63997.000 SH Sole 63997.000 DISCOVER FINL SVCS COMMON 254709108 5286 133060.000 SH Sole 133060.000 DOLBY LABORATORIES, INC. COMMON 25659T107 4105 125340.000 SH Sole 125340.000 DOVER CORP COMMON 260003108 4720 79340.000 SH Sole 79340.000 DUPONT (EI) DE NEMOURS COMMON 263534109 377 7500.000 SH Sole 7500.000 E M C CORP MASS COM COMMON 268648102 2884 105754.000 SH Sole 105754.000 3 110.000 SH Other 110.000 ENI SPA COMMON 26874R108 2981 67989.000 SH Sole 67989.000 ENTERGY CORP COMMON 29364G103 2894 41760.000 SH Sole 41760.000 ENTERPRISE PRODS PARTNERS L.P. COMMON 293792107 3190 59522.000 SH Sole 59522.000 EQUIFAX INC COMMON 294429105 2965 63645.000 SH Sole 63645.000 EXELIS INC COMMON 30162A108 1409 136280.000 SH Sole 136280.000 EXPEDIA INC COMMON 30212P303 2887 49912.000 SH Sole 49912.000 EXXON MOBIL CORP COMMON 30231G102 12008 131301.689 SH Sole 131301.689 F5 NETWORKS, INC. COMMON 315616102 2348 22437.000 SH Sole 22437.000 FINANCIAL SELECT SECTOR SPDR COMMON 81369Y605 6633 425470.000 SH Sole 425470.000 FISERV INC COMMON 337738108 3170 42825.000 SH Sole 42825.000 FLY LEASING LTD-ADR COMMON 34407D109 1941 143671.000 SH Sole 143671.000 GAMESTOP CORP COMMON 36467W109 1474 70211.000 SH Sole 70211.000 GANNETT INC COM COMMON 364730101 3672 206865.000 SH Sole 206865.000 GARMIN LTD COMMON H2906T109 1463 35045.000 SH Sole 35045.000 GENERAL DYNAMICS CORP COMMON 369550108 3452 52203.000 SH Sole 52203.000 GENERAL ELECTRIC COMMON 369604103 427 18800.000 SH Sole 18800.000 GILEAD SCIENCES INC COMMON 375558103 3194 48154.000 SH Sole 48154.000 GLAXOSMITHKLINE PLC SPONSORED COMMON 37733W105 2585 55906.000 SH Sole 55906.000 GOOGLE INC CL A COMMON 38259P508 7685 10186.000 SH Sole 10186.000 6 8.000 SH Other 8.000 GRACO INC. COMMON 384109104 3274 65115.000 SH Sole 65115.000 HARTFORD FINL 04/01/13 7.25% C COMMON 416515708 2377 124430.000 SH Sole 124430.000 HERCULES TECHNOLOGY GROWTH CAP COMMON 427096508 1441 130855.000 SH Sole 130855.000 HILLENBRAND INC COMMON 431571108 1419 77985.000 SH Sole 77985.000 HOME DEPOT COMMON 437076102 332 5495.000 SH Sole 5495.000 HUBBELL INC. - CL B COMMON 443510201 3899 48288.000 SH Sole 48288.000 IMPERIAL TOBACCO GROUP ADR COMMON 453142101 4396 59380.000 SH Sole 59380.000 INERGY LP COMMON 456615103 2857 150150.000 SH Sole 150150.000 INGREDION INC COMMON 457187102 3790 68704.000 SH Sole 68704.000 INTEL COMMON 458140100 725 32000.000 SH Sole 32000.000 INTERCONTINENTAL EXCHANGE INC COMMON 45865V100 3137 23514.000 SH Sole 23514.000 INTL BUS MACH COMMON 459200101 9931 47870.068 SH Sole 47870.068 INTUIT COM COMMON 461202103 3237 54980.000 SH Sole 54980.000 JOHNSON & JOHNSON COMMON 478160104 4755 69002.373 SH Sole 69002.373 JPMORGAN ALERIAN MLP INDEX ETN COMMON 46625H365 275 6795.000 SH Sole 6795.000 KEYCORP COMMON 493267108 3886 444595.000 SH Sole 444595.000 KIMBERLY CLARK CORP COM COMMON 494368103 3195 37247.000 SH Sole 37247.000 LILLY (ELI) COMMON 532457108 8573 180832.501 SH Sole 180832.501 LINCOLN ELECTRIC HOLDINGS, INC COMMON 533900106 2652 67920.000 SH Sole 67920.000 LOCKHEED MARTIN CORP COM COMMON 539830109 3160 33840.000 SH Sole 33840.000 LUKOIL HOLDINGS SPONSORED ADR COMMON 677862104 4238 68865.000 SH Sole 68865.000 LVMH MOET HENNESSY LOUIS VUITT COMMON 502441306 2751 91490.000 SH Sole 91490.000 LYONDELLBASELL INDUSTRIES NV COMMON N53745100 5149 99675.000 SH Sole 99675.000 MANHATTAN ASSOCIATES INC COMMON 562750109 3460 60410.000 SH Sole 60410.000 MASTERCARD INC COMMON 57636Q104 4405 9757.000 SH Sole 9757.000 MCDONALDS COMMON 580135101 312 3400.000 SH Sole 3400.000 MCKESSON CORP COMMON 58155Q103 9824 114194.000 SH Sole 114194.000 MERCK & CO INC COMMON 58933Y105 5278 117039.000 SH Sole 117039.000 METLIFE INC COMMON 59156R108 5784 167838.000 SH Sole 167838.000 MICROSOFT CORP COMMON 594918104 10652 357932.000 SH Sole 357932.000 NATIONAL AUSTRALIA BK SPONSORE COMMON 632525408 2732 103355.000 SH Sole 103355.000 NATIONAL GRID PLC (ADR) COMMON 636274300 2175 39290.000 SH Sole 39290.000 NCR CORP NEW COM COMMON 62886E108 3041 130438.000 SH Sole 130438.000 NISOURCE INC COMMON 65473P105 2664 104537.000 SH Sole 104537.000 NORDSON CORP COMMON 655663102 2521 43050.000 SH Sole 43050.000 NORTHROP GRUMMAN COMMON 666807102 4464 67201.000 SH Sole 67201.000 NOVARTIS A G SPONSORED ADR COMMON 66987V109 2366 38618.000 SH Sole 38618.000 NOVO-NORDISK A S ADR COMMON 670100205 6401 40562.000 SH Sole 40562.000 NU SKIN ENTERPRISES COMMON 67018T105 3054 78640.000 SH Sole 78640.000 NVIDIA CORP COM COMMON 67066G104 2859 214290.000 SH Sole 214290.000 ONEOK PARTNERS L.P. COMMON 68268N103 2282 38360.000 SH Sole 38360.000 ORACLE CORP COMMON 68389X105 4895 155608.000 SH Sole 155608.000 PDL BIOPHARMA INC. COMMON 69329Y104 1667 216505.000 SH Sole 216505.000 PEPSICO COMMON 713448108 445 6293.000 SH Sole 6293.000 PFIZER INC COMMON 717081103 8821 354967.000 SH Sole 354967.000 PIONEER NAT RES CO COM COMMON 723787107 386 3695.000 SH Sole 3695.000 PIONEER SOUTHWEST ENERGY PARTN COMMON 72388B106 1582 61490.000 SH Sole 61490.000 PLAINS ALL AMERICAN PIPELINE L COMMON 726503105 2682 30408.000 SH Sole 30408.000 POLARIS INDUSTRIES INC COMMON 731068102 3564 44075.000 SH Sole 44075.000 PPL CORP 9.5% 07/01/13 CNV PFD COMMON 69351T601 2359 43805.000 SH Sole 43805.000 PROSPECT CAPITAL CORP COMMON 74348T102 2143 186065.000 SH Sole 186065.000 PRUDENTIAL FINANCIAL INC COMMON 744320102 4448 81602.000 SH Sole 81602.000 PUBLIC SERVICE ENTERPRISE GRP COMMON 744573106 6587 204707.000 SH Sole 204707.000 QUAD/GRAPHICS, INC. COMMON 747301109 1626 95850.000 SH Sole 95850.000 QUALCOMM COMMON 747525103 2602 41655.000 SH Sole 41655.000 REINSURANCE GROUP OF AMERICA I COMMON 759351604 4571 78985.000 SH Sole 78985.000 REYNOLDS AMERICAN INC COMMON 761713106 2630 60682.000 SH Sole 60682.000 ROSS STORES INC COMMON 778296103 2345 36305.000 SH Sole 36305.000 ROYAL DUTCH SHELL PLC-ADR A COMMON 780259206 4127 59460.000 SH Sole 59460.000 RR DONNELLEY & SONS COMMON 257867101 1339 126350.000 SH Sole 126350.000 SAUER-DANFOSS INC COM COMMON 804137107 2231 55475.000 SH Sole 55475.000 SCHLUMBERGER LTD COMMON 806857108 1005 13900.000 SH Sole 13900.000 SCRIPPS NETWORKS INTERACTIVE, COMMON 811065101 3081 50325.000 SH Sole 50325.000 SEABOARD CORP COMMON 811543107 5736 2538.000 SH Sole 2538.000 SHIRE PLC ADR COMMON 82481R106 2539 28623.000 SH Sole 28623.000 SK TELECOM LTD SPONSORED ADR COMMON 78440P108 2417 166205.000 SH Sole 166205.000 SKYWORKS SOLUTIONS, INC. COMMON 83088M102 3807 161595.000 SH Sole 161595.000 ST JUDE MED INC COM COMMON 790849103 3461 82148.000 SH Sole 82148.000 SUBURBAN PROPANE LP COMMON 864482104 661 15990.704 SH Sole 15990.704 SUNCOR ENERGY INC COM COMMON 867224107 3249 98919.000 SH Sole 98919.000 SYMANTEC CORP COMMON 871503108 5150 286505.000 SH Sole 286505.000 SYNOPSYS COMMON 871607107 4905 148667.000 SH Sole 148667.000 TARGA RESOURCES PARTNERS LP COMMON 87611X105 3370 78590.000 SH Sole 78590.000 TELECOM CP NEW ZEALAND SPONSOR COMMON 879278208 2242 230620.000 SH Sole 230620.000 TELSTRA CORP ADR COMMON 87969N204 1898 93750.000 SH Sole 93750.000 TERADATA CORPORATION COMMON 88076w103 2596 34425.000 SH Sole 34425.000 TJX COMPANIES COMMON 872540109 4714 105243.000 SH Sole 105243.000 TORCHMARK CORP COM COMMON 891027104 5061 98552.000 SH Sole 98552.000 UMB FINL CORP COMMON 902788108 1794 36844.000 SH Sole 36844.000 UNION PACIFIC COMMON 907818108 3492 29422.000 SH Sole 29422.000 UNITEDHEALTH GROUP INC COMMON 91324P102 3479 62783.000 SH Sole 62783.000 UNIVERSAL CORP COMMON 913456109 2236 43920.000 SH Sole 43920.000 UNIVEST CORPORATION OF PENNSYL COMMON 915271100 1595 88620.000 SH Sole 88620.000 US BANCORP COMMON 902973304 581 16927.000 SH Sole 16927.000 UTILITIES SELECT SECTOR SPDR COMMON 81369Y886 4236 116400.000 SH Sole 116400.000 VANGUARD FINANCIAL ETF COMMON 92204A405 5047 154045.000 SH Sole 154045.000 VANGUARD NATURAL RESOURCES, LL COMMON 92205F106 2493 86148.000 SH Sole 86148.000 VARIAN MEDICAL SYSTEMS COMMON 92220P105 2376 39388.000 SH Sole 39388.000 VIACOM INC COMMON 92553P201 3172 59187.000 SH Sole 59187.000 VODAFONE GROUP PLC SPONSORED A COMMON 92857W209 2166 75996.000 SH Sole 75996.000 WAL-MART COMMON 931142103 937 12700.802 SH Sole 12700.802 WEATHERFORD INTL INC COM COMMON H27013103 139 11000.000 SH Sole 11000.000 WELLS FARGO COMPANY COMMON 949746101 4529 131147.935 SH Sole 131147.935 WESTERN UNION CO COMMON 959802109 3030 166316.000 SH Sole 166316.000 WESTPAC BANKING CORP ADR COMMON 961214301 3440 26803.000 SH Sole 26803.000 YUM! BRANDS INC COMMON 988498101 4762 71780.000 SH Sole 71780.000 ZURICH INSURANCE GROUP LTD ADR COMMON 989825104 3194 127601.000 SH Sole 127601.000 FIRST EAGLE FDS INC GLOBAL FD MUTUAL FDS 32008f507 523 10550.142 SH Sole 10550.142 SCHWAB TOTAL STOCK MARKET INDE MUTUAL FDS 808509756 409 15581.984 SH Sole 15581.984 CLAYMORE/ZACKS MULTI-ASSET INC OTHER EQUITIES 18383M506 322 14430.000 SH Sole 14430.000 ISHARES DOW JONES SELECT DIVID OTHER EQUITIES 464287168 597 10343.000 SH Sole 10343.000 ISHARES RUSSELL 1000 GROWTH OTHER EQUITIES 464287614 6357 95301.000 SH Sole 95301.000 154 2307.000 SH Other 77.000 2230.000 ISHARES RUSSELL 1000 VALUE OTHER EQUITIES 464287598 5776 80022.000 SH Sole 80022.000 118 1632.000 SH Other 72.000 1560.000 ISHARES RUSSELL 2000 OTHER EQUITIES 464287655 458 5494.000 SH Sole 5494.000 ISHARES RUSSELL 2000 GROWTH OTHER EQUITIES 464287648 209 2190.000 SH Sole 2190.000 ISHARES RUSSELL 2000 VALUE OTHER EQUITIES 464287630 292 3954.000 SH Sole 3954.000 ISHARES S&P 500 VALUE INDEX OTHER EQUITIES 464287408 241 3660.000 SH Sole 3660.000 ISHARES S&P SMALLCAP 600 OTHER EQUITIES 464287804 797 10339.237 SH Sole 10339.237 10 135.000 SH Other 135.000 ISHARES TR RUSSELL 3000 OTHER EQUITIES 464287689 248 2917.000 SH Sole 2917.000 PROSHARES SHORT S&P 500 OTHER EQUITIES 74347R503 15099 443050.000 SH Sole 443050.000 RYDEX S&P EQUAL WEIGHT ETF OTHER EQUITIES 78355W106 368 7053.000 SH Sole 7053.000 60 1150.000 SH Other 65.000 1085.000 S & P 400 MID CAP DEP RECPT OTHER EQUITIES 78467Y107 222 1233.000 SH Sole 1233.000 S & P 500 DEPOSITARY RECEIPT OTHER EQUITIES 78462F103 4042 28072.000 SH Sole 28072.000 SPDR S&P DIVIDEND ETF OTHER EQUITIES 78464A763 420 7225.000 SH Sole 7225.000