First MerchantsFRME
13F holders, Q1 2025 (March 31)272holders +19
36new positions
15sold out
6famous investors
$40.44avg. 13F price*
At the end of Q1 2025, 272 institutions reported holding First Merchants Corp. (FRME) in their 13F filings, up 19 from Q4 2024. 36 opened new positions and 15 sold out. The largest holders were Vanguard Group Inc. ($252.3M), BlackRock, Inc. ($193.6M) and Dimensional Fund Advisors LP ($139.1M). 6 famous investors held it, including Ken Fisher (0.0% of Fisher Asset Management's portfolio), Cliff Asness (0.0% of AQR Capital Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).
- Company
- First Merchants Corp.
- CUSIP
- 320817109
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q4 2024 → Q1 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 36 | $35.8M |
| Exits | 15 | $5.5M |
All 13F filers, Q4 2024 → Q1 2025: 3,324,926 shares bought and 2,083,829 shares sold, net +1,241,097 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 272 holders
| Vanguard Group Inc. | 0.00% | Reduce -1.6% | 6,238,131 | $252.3M |
| BlackRock, Inc. | 0.00% | Reduce -1.5% | 4,788,060 | $193.6M |
| Dimensional Fund Advisors LP | 0.03% | Reduce -2.2% | 3,439,858 | $139.1M |
| Earnest Partners LLC | 0.50% | Reduce -1.8% | 2,562,184 | $103.6M |
| State Street Corp. | 0.00% | Reduce -8.7% | 1,998,701 | $80.8M |
| Geode Capital Management, LLC | 0.00% | Add +2.7% | 1,429,313 | $57.8M |
| American Century Companies Inc. | 0.03% | Reduce -20.9% | 1,099,458 | $44.5M |
| First Trust Advisors LP | 0.04% | Add +56.8% | 1,081,328 | $43.7M |
| Goldman Sachs Group Inc. | 0.01% | Reduce -3.0% | 969,156 | $39.2M |
| Victory Capital Management Inc. | 0.04% | Reduce -10.8% | 855,132 | $34.6M |
| Capital International Investors | 0.01% | Add +37.6% | 818,755 | $33.1M |
| William Blair Investment Management, LLC | 0.09% | Reduce -4.4% | 784,461 | $31.7M |
| Principal Financial Group Inc. | 0.02% | Reduce -4.4% | 771,057 | $31.2M |
| Systematic Financial Management LP | 0.86% | Reduce -0.5% | 745,408 | $30.1M |
| JPMorgan Chase & Co. | 0.00% | Reduce -1.3% | 736,128 | $29.8M |
| Charles Schwab Investment Management Inc. | 0.01% | Reduce -2.7% | 711,840 | $28.8M |
| Bank of New York Mellon Corp | 0.01% | Reduce -25.8% | 690,835 | $27.9M |
| PL Capital Advisors, LLC | 9.32% | No change | 686,333 | $27.8M |
| Nuveen, LLC | 0.01% | — | 606,404 | $24.5M |
| Northern Trust Corp. | 0.00% | Reduce -0.5% | 599,108 | $24.2M |
| Public Employees Retirement Association of Colorado | 0.09% | No change | 546,322 | $22.1M |
| First Merchants Corp. | 0.88% | Reduce -1.3% | 542,610 | $21.9M |
| Fisher Asset Management | 0.01% | Reduce -4.4% | 496,277 | $20.1M |
| Raymond James Financial Inc. | 0.01% | Add +0.1% | 477,207 | $19.3M |
| Manufacturers Life Insurance Company, The | 0.02% | Add +1.0% | 472,974 | $19.1M |
| Schroder Investment Management Group | 0.02% | Add +62.7% | 464,656 | $18.8M |
| Bridgeway Capital Management, LLC | 0.38% | Reduce -6.8% | 369,055 | $14.9M |
| Ceredex Value Advisors LLC | 0.30% | Add +49.3% | 340,800 | $13.8M |
| MetLife Investment Management, LLC | 0.07% | Add +842.5% | 334,593 | $13.5M |
| Glenmede Trust Co. NA | 0.07% | New | 311,118 | $12.6M |
| Phocas Financial Corp. | 1.65% | Reduce -5.4% | 266,538 | $10.8M |
| Morgan Stanley | 0.00% | Reduce -9.5% | 259,081 | $10.5M |
| OneAscent Financial Services LLC | 0.65% | Add +100.4% | 247,024 | $10.0M |
| FMR LLC | 0.00% | Add +74.5% | 222,606 | $9.0M |
| Sei Investments Co. | 0.01% | Reduce -15.7% | 213,036 | $8.6M |
| Bank of America Corp. | 0.00% | Add +67.6% | 202,146 | $8.2M |
| Cubist Systematic Strategies, LLC | 0.11% | Add +1034.4% | 202,055 | $8.2M |
| Wells Fargo & Company | 0.00% | Reduce -0.8% | 197,688 | $8.0M |
| Empowered Funds, LLC | 0.11% | Reduce -12.1% | 195,211 | $7.9M |
| ProShare Advisors LLC | 0.02% | Reduce -5.6% | 184,003 | $7.4M |
| STRS Ohio | 0.03% | Reduce -0.7% | 181,552 | $7.3M |
| Oberweis Asset Management Inc./ | 0.36% | Add +22.5% | 178,400 | $7.2M |
| Envestnet Asset Management Inc. | 0.00% | Reduce -0.4% | 176,922 | $7.2M |
| Denali Advisors LLC | 0.74% | Reduce -4.8% | 160,379 | $6.5M |
| Susquehanna International Group, LLP | 0.01% | Add +83.7% | 145,573 | $5.9M |
| Peregrine Capital Management LLC | 0.19% | Reduce -5.2% | 144,564 | $5.8M |
| Dark Forest Capital Management LP | 0.26% | Add +285.4% | 140,438 | $5.7M |
| Invesco Ltd. | 0.00% | Reduce -7.2% | 136,455 | $5.5M |
| Nordea Investment Management AB | 0.01% | Add +0.9% | 135,327 | $5.5M |
| Citigroup Inc. | 0.00% | Add +16.7% | 134,029 | $5.4M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +6.6% | 132,785 | $5.4M |
| Mendon Capital Advisors Corp. | 2.46% | New | 131,125 | $5.3M |
| Curi Capital, LLC | 0.12% | New | 125,000 | $5.1M |
| AQR Capital Management | 0.00% | Add +19.5% | 118,650 | $4.8M |
| Swiss National Bank | 0.00% | Reduce -1.2% | 113,662 | $4.6M |
| Great Lakes Advisors, LLC | 0.04% | Reduce -16.1% | 112,125 | $4.5M |
| UBS Group AG | 0.00% | Add +37.3% | 107,953 | $4.4M |
| Jane Street Group, LLC | 0.01% | Add +941.6% | 107,859 | $4.4M |
| Trexquant Investment LP | 0.05% | Add +158.5% | 107,590 | $4.4M |
| Norges Bank | 0.00% | Reduce -44.1% | 101,522 | $4.1M |
| New York State Common Retirement Fund | 0.01% | Reduce -3.3% | 101,363 | $4.1M |
| Qube Research & Technologies Ltd | 0.01% | Reduce -56.2% | 97,240 | $3.9M |
| Petiole USA ltd | 2.69% | No change | 94,047 | $3.8M |
| Barclays PLC | 0.00% | Reduce -25.9% | 90,312 | $3.7M |
| Rhumbline Advisers | 0.00% | Reduce -12.1% | 89,792 | $3.6M |
| Citadel Advisors | 0.00% | Add +102.5% | 84,618 | $3.4M |
| Hotchkis & Wiley Capital Management LLC | 0.01% | Reduce -1.5% | 81,988 | $3.3M |
| Advisory Research Inc. | 0.57% | Reduce -0.3% | 79,308 | $3.2M |
| Corient Private Wealth LP | 0.01% | Add +0.0% | 78,609 | $3.2M |
| First Financial Bank - Trust Division | 0.30% | No change | 75,779 | $3.1M |
| Rosenthal | Henry Capital Advisors, Inc. | 3.00% | Reduce -4.9% | 73,540 | $3.0M |
| Alliancebernstein L.P. | 0.00% | No change | 68,157 | $2.8M |
| Ameriprise Financial Inc. | 0.00% | Add +3.4% | 66,740 | $2.7M |
| Wellington Management Group LLP | 0.00% | New | 66,259 | $2.7M |
| Legal & General Group Plc | 0.00% | Add +1.1% | 63,851 | $2.6M |
| Cambridge Investment Research Advisors, Inc. | 0.01% | Reduce -0.7% | 61,373 | $2.5M |
| T. Rowe Price Associates Inc. | 0.00% | Add +4.2% | 60,466 | $2.4M |
| Mariner, LLC | 0.00% | Add +1.4% | 59,564 | $2.4M |
| California State Teachers Retirement System | 0.00% | Reduce -1.9% | 53,641 | $2.2M |
| Franklin Resources Inc. | 0.00% | Add +422.2% | 51,548 | $2.1M |
| Two Sigma Investments, LP | 0.00% | Add +279.7% | 46,146 | $1.9M |
| Deutsche Bank AG | 0.00% | Reduce -5.0% | 45,893 | $1.9M |
| Intech Investment Management LLC | 0.02% | Add +42.6% | 43,260 | $1.7M |
| Creative Planning | 0.00% | Add +17.8% | 42,454 | $1.7M |
| Brandywine Global Investment Management, LLC | 0.01% | Reduce -3.5% | 41,760 | $1.7M |
| Oppenheimer Asset Management Inc. | 0.02% | Add +0.9% | 41,288 | $1.7M |
| Sanctuary Advisors, LLC | 0.01% | Add +3.1% | 40,530 | $1.6M |
| Teacher Retirement System of Texas | 0.01% | Reduce -17.4% | 38,459 | $1.6M |
| Jackson Creek Investment Advisors LLC | 0.46% | New | 35,761 | $1.4M |
| Rafferty Asset Management, LLC | 0.01% | Reduce -25.6% | 35,588 | $1.4M |
| Stifel Financial Corp. | 0.00% | Reduce -22.1% | 35,317 | $1.4M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +4.6% | 34,708 | $1.4M |
| Russell Investments Group, Ltd. | 0.00% | Add +8.9% | 34,339 | $1.4M |
| Prudential Financial Inc. | 0.00% | Add +0.0% | 31,767 | $1.4M |
| Aurora Investment Counsel | 0.74% | Reduce -7.7% | 33,127 | $1.3M |
| Old National Bancorp | 0.04% | Reduce -25.0% | 33,115 | $1.3M |
| Commonwealth Equity Services, LLC | 0.00% | Add +0.8% | 32,701 | $1.3M |
| Paradigm Capital Management Inc. | 0.07% | No change | 32,000 | $1.3M |
| Clarkston Capital Partners, LLC | 0.02% | Reduce -10.3% | 31,113 | $1.3M |
| Ensign Peak Advisors, Inc | 0.00% | No change | 30,520 | $1.2M |
| Thrivent Financial for Lutherans | 0.00% | Reduce -41.1% | 28,574 | $1.2M |
| Guggenheim Capital LLC | 0.01% | Add +2.9% | 29,581 | $1.2M |
| Corebridge Financial, Inc. | 0.01% | Reduce -1.5% | 28,572 | $1.2M |
| Janus Henderson Group PLC | 0.00% | No change | 27,284 | $1.1M |
| Picton Mahoney Asset Management | 0.04% | New | 27,214 | $1.1M |
| Waterfront Wealth Inc. | 0.27% | Add +0.9% | 27,140 | $1.1M |
| Quantedge Capital Pte Ltd | 0.35% | Add +246.2% | 27,000 | $1.1M |
| Two Sigma Advisers, LP | 0.00% | Add +156.2% | 26,574 | $1.1M |
| Wedge Capital Management L L P | 0.02% | Add +12.5% | 26,486 | $1.1M |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 26,310 | $1.1M |
| Jones Financial Companies LLLP | 0.00% | Add +23.7% | 24,697 | $998K |
| PNC Financial Services Group, Inc. | 0.00% | Add +4.3% | 24,573 | $994K |
| Vest Financial, LLC | 0.01% | New | 22,816 | $923K |
| XTX Topco Ltd | 0.05% | New | 22,764 | $921K |
| BCGM Wealth Management, LLC | 0.28% | Add +0.0% | 22,668 | $917K |
| Chicago Partners Investment Group LLC | 0.03% | Add +1.5% | 23,650 | $879K |
| Captrust Financial Advisors | 0.00% | Add +2.6% | 21,636 | $875K |
| IFG Advisory, LLC | 0.05% | Add +0.1% | 21,370 | $864K |
| Wesbanco Bank Inc. | 0.03% | No change | 21,140 | $855K |
| Osaic Holdings, Inc. | 0.00% | Add +9.6% | 21,126 | $855K |
| Integrity Wealth Advisors, Inc. | 0.56% | New | 19,000 | $768K |
| Quadrant Capital Group LLC | 0.03% | Add +669.1% | 18,781 | $760K |
| Kestra Advisory Services, LLC | 0.00% | New | 17,926 | $725K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Add +13.1% | 17,005 | $688K |
| US Bancorp \de | 0.00% | Reduce -2.0% | 16,954 | $686K |
| Arizona State Retirement System | 0.00% | Reduce -1.0% | 16,795 | $679K |
| SG Americas Securities, LLC | 0.00% | New | 16,267 | $658K |
| Voya Investment Management LLC | 0.00% | Reduce -8.9% | 16,022 | $648K |
| Graham Capital Management, L.P. | 0.03% | Add +61.8% | 15,670 | $634K |
| Engineers Gate Manager LP | 0.01% | Add +172.6% | 15,419 | $624K |
| Sentinel Pension Advisors, LLC | 0.11% | No change | 15,228 | $616K |
| Intrepid Financial Planning Group LLC | 0.28% | No change | 14,682 | $594K |
| Choreo, LLC | 0.01% | Add +156.9% | 14,430 | $584K |
| Pathstone Holdings, LLC | 0.00% | Reduce -18.3% | 14,427 | $583K |
| LPL Financial LLC | 0.00% | Add +4.4% | 13,850 | $560K |
| Ieq Capital, LLC | 0.00% | New | 13,694 | $554K |
| Venture Visionary Partners LLC | 0.02% | Reduce -0.1% | 13,529 | $547K |
| Kennondale Capital Management LLC | 0.59% | No change | 13,495 | $546K |
| Royal Bank of Canada | 0.00% | Reduce -17.8% | 13,496 | $545K |
| Brevan Howard Capital Management LP | 0.02% | New | 13,474 | $545K |
| Cibc World Markets Corp. | 0.00% | Add +137.1% | 12,941 | $523K |
| Handelsbanken Fonder AB | 0.00% | No change | 12,516 | $506K |
| Police & Firemen's Retirement System of New Jersey | 0.01% | No change | 12,444 | $503K |
| Voloridge Investment Management, LLC | 0.00% | Reduce -48.2% | 12,310 | $498K |
| Connable Office Inc. | 0.05% | No change | 12,031 | $487K |
| Integrated Investment Consultants, LLC | 0.09% | Reduce -0.6% | 11,701 | $473K |
| EJF Capital LP | 0.30% | Reduce -0.5% | 11,581 | $468K |
| Cranbrook Wealth Management, LLC | 0.11% | No change | 11,451 | $463K |
| Rehmann Capital Advisory Group | 0.03% | Add +0.1% | 11,446 | $463K |
| KLP Kapitalforvaltning As | 0.00% | Reduce -11.2% | 11,100 | $449K |
| Hennion & Walsh Asset Management, Inc. | 0.02% | Reduce -1.1% | 9,988 | $404K |
| AlphaQuest LLC | 0.04% | Reduce -56.2% | 9,946 | $402K |
| Comerica Bank | 0.00% | Add +31.9% | 9,929 | $402K |
| Minerva Advisors LLC | 0.28% | No change | 9,875 | $399K |
| Millennium Management | 0.00% | Reduce -66.4% | 9,806 | $397K |
| Polymer Capital Management (US) LLC | 0.12% | New | 9,473 | $383K |
| CANADA LIFE ASSURANCE Co | 0.00% | Add +33.0% | 9,234 | $374K |
| Pictet Asset Management Holding SA | 0.00% | Add +27.4% | 8,960 | $362K |
| Monarch Capital Management Inc. | 0.10% | No change | 8,918 | $361K |
| Mach-1 Financial Group, LLC | 0.10% | New | 8,522 | $345K |
| Inspire Investing, LLC | 0.04% | Reduce -15.7% | 8,473 | $343K |
| Sapient Capital LLC | 0.01% | Reduce -0.9% | 8,455 | $342K |
| Centiva Capital, LP | 0.02% | New | 7,940 | $321K |
| Kingsview Wealth Management, LLC | 0.01% | No change | 7,770 | $314K |
| Schechter Investment Advisors, LLC | 0.02% | No change | 7,388 | $299K |
| PDS Planning, Inc | 0.03% | Add +11.2% | 7,335 | $297K |
| Cary Street Partners Financial LLC | 0.01% | Reduce -0.1% | 6,849 | $277K |
| Norris Perne & French LLP | 0.02% | No change | 6,834 | $276K |
| Johnson Investment Counsel Inc. | 0.00% | No change | 6,811 | $275K |
| HSBC Holdings PLC | 0.00% | Reduce -19.9% | 6,766 | $275K |
| Goelzer Investment Management, Inc. | 0.02% | No change | 6,765 | $274K |
| Cetera Investment Advisers | 0.00% | Reduce -13.1% | 6,643 | $269K |
| Contravisory Investment Management, Inc. | 0.06% | New | 6,560 | $265K |
| HighTower Advisors, LLC | 0.00% | Reduce -8.7% | 6,517 | $264K |
| Waverly Advisors, LLC | 0.00% | Reduce -0.1% | 6,514 | $263K |
| Atlas Brown,Inc. | 0.09% | No change | 6,405 | $259K |
| Zhang Financial LLC | 0.01% | No change | 6,258 | $253K |
| HighPoint Advisor Group LLC | 0.01% | No change | 6,925 | $249K |
| Evergreen Capital Management LLC | 0.01% | Reduce -1.9% | 6,107 | $247K |
| State of Wisconsin Investment Board | 0.00% | Add +9.1% | 6,102 | $247K |
| Ameritas Investment Partners, Inc. | 0.01% | No change | 6,101 | $247K |
| Renaissance Technologies | 0.00% | Reduce -80.1% | 6,100 | $247K |
| Advantage Alpha Capital Partners LP | 0.06% | Reduce -60.8% | 5,852 | $237K |
| Orion Porfolio Solutions, LLC | 0.00% | Reduce -1.9% | 5,850 | $237K |
| Orion Portfolio Solutions, LLC | 0.00% | Reduce -1.9% | 5,850 | $237K |
| Pathway Financial Advisers, LLC | 0.08% | Add +0.8% | 5,750 | $233K |
| Marshall Wace, LLP | 0.00% | New | 5,742 | $232K |
| Ullmann Wealth Partners Group, LLC | 0.03% | No change | 5,602 | $227K |
| Vident Advisory, LLC | 0.00% | New | 5,508 | $223K |
| Harbour Trust & Investment Management Co | 0.03% | No change | 5,465 | $221K |
| Clearstead Advisors, LLC | 0.00% | Reduce -11.1% | 5,448 | $220K |
| New York State Teachers Retirement System | 0.00% | New | 5,340 | $216K |
| Squarepoint Ops LLC | 0.00% | Reduce -68.2% | 5,341 | $216K |
| 111 Capital | 0.04% | New | 5,168 | $209K |
| Emerald Mutual Fund Advisers Trust | 0.01% | No change | 4,767 | $193K |
| Cwm, LLC | 0.00% | Add +44.2% | 4,669 | $189K |
| Tower Research Capital LLC (TRC) | 0.00% | Add +287.9% | 3,510 | $142K |
| Point72 Asset Management | 0.00% | New | 3,500 | $142K |
| BNP Paribas Financial Markets | 0.00% | Reduce -53.8% | 3,384 | $137K |
| Fifth Third Bancorp | 0.00% | No change | 3,246 | $131K |
| Assetmark, Inc. | 0.00% | Reduce -9.6% | 3,146 | $127K |
| KBC Group NV | 0.00% | No change | 3,052 | $123K |
| Larson Financial Group LLC | 0.01% | No change | 2,926 | $118K |
| Allworth Financial LP | 0.00% | Add +3.2% | 2,815 | $103K |
| Optimum Investment Advisors | 0.04% | No change | 2,253 | $91K |
| Amalgamated Bank | 0.00% | Add +0.3% | 1,996 | $81K |
| Capital Analysts, LLC | 0.00% | No change | 1,800 | $73K |
| Ancora Advisors LLC | 0.00% | No change | 1,791 | $72K |
| Signaturefd, LLC | 0.00% | Reduce -2.4% | 1,618 | $65K |
| Spectrum Wealth Counsel, LLC | 0.01% | New | 1,380 | $56K |
| Thurston, Springer, Miller, Herd & Titak, Inc. | 0.01% | Add +314.5% | 1,318 | $53K |
| Caldwell Trust Co | 0.01% | No change | 1,300 | $53K |
| Strategic Investment Solutions, Inc. | 0.01% | Add +0.9% | 1,161 | $47K |
| Westend Capital Management, LLC | 0.02% | New | 1,149 | $46K |
| MAI Capital Management | 0.00% | Reduce -17.8% | 1,131 | $46K |
| Sterling Capital Management LLC | 0.00% | Reduce -45.3% | 1,006 | $41K |
| Indiana Trust & Investment Management Co | 0.01% | No change | 902 | $36K |
| Blue Trust, Inc. | 0.00% | No change | 899 | $36K |
| Public Employees Retirement System of Ohio | 0.00% | Add +0.7% | 880 | $36K |
| CIBC Private Wealth Group LLC | 0.00% | No change | 994 | $35K |
| Coldstream Capital Management Inc. | 0.00% | New | 810 | $33K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 750 | $30K |
| LSV Asset Management | 0.00% | Reduce -67.1% | 715 | $29K |
| Creative Financial Designs Inc. | 0.00% | No change | 650 | $26K |
| Lindbrook Capital, LLC | 0.00% | No change | 555 | $22K |
| GAMMA Investing LLC | 0.00% | Add +172.0% | 525 | $21K |
| Meeder Asset Management Inc. | 0.00% | New | 523 | $21K |
| Federated Hermes, Inc. | 0.00% | Reduce -56.1% | 408 | $17K |
| CX Institutional | 0.00% | New | 397 | $16K |
| Smartleaf Asset Management LLC | 0.00% | Reduce -32.4% | 395 | $16K |
| Parallel Advisors, LLC | 0.00% | No change | 389 | $16K |
| Harbor Capital Advisors, Inc. | 0.00% | Reduce -97.7% | 351 | $14K |
| Nisa Investment Advisors, LLC | 0.00% | Reduce -75.6% | 314 | $13K |
| CENTRAL TRUST Co | 0.00% | No change | 294 | $12K |
| Point72 Asia (Singapore) Pte. Ltd. | 0.00% | Reduce -90.6% | 293 | $12K |
| Covestor Ltd | 0.01% | Reduce -61.2% | 271 | $11K |
| Point72 (DIFC) Ltd | 0.00% | New | 240 | $10K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +351.4% | 167 | $7K |
| Hillsdale Investment Management Inc. | 0.00% | New | 160 | $6K |
| Retirement Wealth Solutions LLC | 0.00% | No change | 137 | $6K |
| Northwestern Mutual Wealth Management Co. | 0.00% | No change | 135 | $5K |
| Versant Capital Management, Inc | 0.00% | New | 118 | $5K |
| Rothschild Investment LLC | 0.00% | Add +50.0% | 105 | $4K |
| Summit Securities Group LLC | 0.00% | New | 102 | $4K |
| Bessemer Group Inc. | 0.00% | Reduce -4.8% | 100 | $4K |
| Sound Income Strategies, LLC | 0.00% | No change | 89 | $4K |
| Cary Street Partners Investment Advisory LLC | 0.00% | Add +228.0% | 82 | $3K |
| Brooklyn Investment Group | 0.00% | New | 78 | $3K |
| Carolinas Wealth Consulting LLC | 0.00% | No change | 70 | $3K |
| Mather Group, Llc. | 0.00% | No change | 62 | $3K |
| Private Wealth Management Group, LLC | 0.00% | No change | 55 | $2K |
| Cornerstone Planning Group LLC | 0.00% | No change | 54 | $2K |
| Hemington Wealth Management | 0.00% | Add +38.3% | 65 | $2K |
| Farther Finance Advisors, LLC | 0.00% | Reduce -2.0% | 49 | $2K |
| JFS Wealth Advisors, LLC | 0.00% | No change | 40 | $2K |
| Bell Investment Advisors, Inc | 0.00% | No change | 37 | $1K |
| WPG Advisers, LLC | 0.00% | No change | 37 | $1K |
| Parkside Financial Bank & Trust | 0.00% | New | 30 | $1K |
| Steward Partners Investment Advisory, LLC | 0.00% | No change | 24 | $971 |
| Stephens Consulting, LLC | 0.00% | New | 20 | $809 |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Reduce -50.0% | 19 | $768 |
| Huntington National Bank | 0.00% | Reduce -86.2% | 17 | $687 |
| DiNuzzo Private Wealth, Inc. | 0.00% | No change | 12 | $486 |
| Global Financial Private Client, LLC | 0.00% | Add +175.0% | 11 | $445 |
| SJS Investment Consulting Inc. | 0.00% | No change | 11 | $445 |
| Private Trust Co. NA | 0.00% | No change | 5 | $202 |
| SBI Securities Co., Ltd. | 0.00% | Add +300.0% | 4 | $162 |
| Bay Harbor Wealth Management, LLC | 0.00% | New | 3 | $121 |
| Parkworth Wealth Management, Inc. | 0.00% | No change | 2 | $81 |
| True Wealth Design, LLC | 0.00% | New | 2 | $81 |
| HFM Investment Advisors, LLC | 0.00% | — | 2 | $81 |
| Capital Advisors, Ltd. LLC | 0.00% | No change | 4 | $0 |
"% of holder's portfolio" is FRME's weight in each manager's 13F, not the share of First Merchants Corp. the manager owns.