What smart money is saying about Meritage Homes Corporation
2 funds in our archive have pitched Meritage Homes Corporation — most recently Baron Real Estate Income Fund in September 2026.
Meritage Homes Corporation, alongside its associated companies, focuses on the design and construction of single-family residences throughout the United States. The enterprise operates primarily through two distinct divisions: home construction and financial services. Its core business involves acquiring and developing land, followed by the building, marketing, and selling of homes, predominantly targeting first-time buyers and those seeking their initial upgrade. Furthermore, the company provides its homebuyers with crucial services such as title insurance and support for closing and settlement processes. Meritage Homes constructs and sells properties under its own brand name across a wide geographic footprint, including Texas, Arizona, California, Colorado, Florida, North Carolina, South Carolina, Georgia, and Tennessee. The company was established in 1985 and has its corporate headquarters situated in Scottsdale, Arizona.
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Position history
Between Q2 2026 and Q3 2026, 6 fund letters reported a position in Meritage Homes Corporation, with 1 buy (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 1 |
| Q2 2026 | 4 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 6 positions · 2 moves
- September 2026
“Non-REIT Real Estate Companies (10.6%) • While the Fund emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. • Current non-REIT holdings include AAON, Inc., Marriott Vacations Worldwide Corporation, Meritage Homes Corporation, Hyatt Hotels Corporation, Vail Resorts, Inc., Red Rock Resorts, Inc., and Brookfield Infrastructure Corporation.”
Meritage Homes Corporation - September 2026
“Top detractors from performance for the quarter Quarter End Market Cap ($B) Contribution to Return (%) Meritage Homes Corporation 4.1 (0.92) PENN Entertainment, Inc. 2.0 (0.78) Toll Brothers, Inc. 12.4 (0.76) AAON, Inc. 6.8 (0.65) Madison Air Solutions Corporation 14.6 (0.65) Meritage Homes Corporation, a U.S. homebuilder, was a detractor in the third quarter, giving back some of its strong second quarter gains when the share price surged 20%.”
Meritage Homes Corporation - June 2026
“Non-REIT Real Estate Companies (15.8%) While the Fund emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. Current non-REIT holdings include Meritage Homes Corporation , Brookfield Infrastructure Corporation , Marriott Vacations Worldwide Corporation , Fortune Brands Innovations, Inc. , CRH public limited company , Vail Resorts, Inc. , The Home Depot, Inc. , GDS Holdings Limited , and Wyndham Hotels & Resorts, Inc.”
Meritage Homes Corporation - New positionBaron Real Estate FundJune 2026
“During the quarter, we initiated a position in Meritage Homes Corporation , the fifth-largest homebuilder in the U.S., with operations across the West, Central, and East regions.”
Meritage Homes Corporation - New positionBaron Real Estate StrategyJune 2026
“Top net purchases for the quarter Net Amount Purchased ($M) Meritage Homes Corporation 76.8 Blackstone Inc. 63.5 Blackstone Digital Infrastructure Trust Inc. 60.2 The Home Depot, Inc. 45.9 PulteGroup, Inc. 40.8 During the quarter, we initiated a position in Meritage Homes Corporation , the fifth-largest homebuilder in the U.S., with operations across the West, Central, and East regions.”
Meritage Homes Corporation - June 2026
“Non-REIT Real Estate Companies (15.8%) While the Strategy emphasizes REITs, we retain flexibility to invest in non-REIT real estate companies, which we typically limit to approximately 25% of net assets. At times these investments may offer more attractive growth, income, valuation, and share price appreciation potential relative to traditional REITs. Current non-REIT holdings include Meritage Homes Corporation , Brookfield Infrastructure Corporation , Marriott Vacations Worldwide Corporation , Fortune Brands Innovations, Inc. , CRH public limited company , Vail Resorts, Inc. , The Home Depot, Inc. , GDS Holdings Limited , and Wyndham Hotels & Resorts, Inc.”
Meritage Homes Corporation
Fund coverage · 2 theses
- Baron Real Estate Income FundSeptember 2026
Meritage Homes Corporation is a homebuilder with a depressed valuation, book value compounding potential, and a long-term housing growth runway.
Read the full thesis - Baron Real Estate FundJune 2026
Meritage Homes Corporation is a large U.S. homebuilder with substantial long-term growth, margin expansion, and valuation upside potential.
Read the full thesis
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