First MerchantsFRME

13F holders, Q4 2025 (December 31)
282holders
27new positions
24sold out
7famous investors
$37.48avg. 13F price*

At the end of Q4 2025, 282 institutions reported holding First Merchants Corp. (FRME) in their 13F filings, unchanged from Q3 2025. 27 opened new positions and 24 sold out. The largest holders were Vanguard Group Inc. ($224.3M), BlackRock, Inc. ($174.0M) and Dimensional Fund Advisors LP ($124.4M). 7 famous investors held it, including Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Cliff Asness (0.0% of AQR Capital Management's portfolio).

Company
First Merchants Corp.
CUSIP
320817109
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 233Q1 2024Q2 2024: 231Q2 2024Q3 2024: 243Q3 2024Q4 2024: 253Q4 2024Q1 2025: 272Q1 2025Q2 2025: 278Q2 2025Q3 2025: 282Q3 2025Q4 2025: 282Q4 2025Q1 2026: 300Q1 2026Q2 2026: 308Q2 2026

Total Exit/New Position Q3 2025 → Q4 2025

InstitutionsTotal Value
New Positions27$18.4M
Exits24$15.5M

All 13F filers, Q3 2025 → Q4 2025: 2,514,032 shares bought and 2,728,466 shares sold, net −214,434 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 282 holders

Vanguard Group Inc. 0.00% Reduce -1.6% 5,983,901 $224.3M
BlackRock, Inc. 0.00% Add +1.7% 4,643,686 $174.0M
Dimensional Fund Advisors LP 0.03% Reduce -1.9% 3,318,040 $124.4M
Earnest Partners LLC 0.37% Reduce -5.5% 2,310,372 $86.6M
State Street Corp. 0.00% Reduce -3.9% 1,974,973 $74.0M
Geode Capital Management, LLC 0.00% Add +0.1% 1,431,840 $53.7M
Capital International Investors 0.01% No change 1,346,300 $50.5M
Nuveen, LLC 0.01% Add +10.9% 1,058,247 $39.7M
Victory Capital Management Inc. 0.02% Add +0.9% 956,197 $35.8M
Goldman Sachs Group Inc. 0.01% Reduce -1.3% 929,244 $34.8M
Systematic Financial Management LP 0.69% Add +2.1% 778,328 $29.2M
Bank of New York Mellon Corp 0.01% Add +14.4% 764,136 $28.6M
William Blair Investment Management, LLC 0.08% Reduce -9.4% 763,904 $28.6M
First Trust Advisors LP 0.02% Add +15.0% 715,488 $26.8M
PL Capital Advisors, LLC 8.11% No change 686,333 $25.7M
Charles Schwab Investment Management Inc. 0.00% Reduce -0.6% 681,888 $25.6M
FJ Capital Management LLC 2.62% Add +115.0% 633,668 $23.7M
Qube Research & Technologies Ltd 0.03% Add +59.6% 627,759 $23.5M
JPMorgan Chase & Co. 0.00% Reduce -12.5% 605,427 $22.7M
Northern Trust Corp. 0.00% Reduce -7.6% 566,386 $21.2M
Public Employees Retirement Association of Colorado 0.08% No change 546,322 $20.5M
First Merchants Corp. 0.74% Reduce -0.9% 534,739 $20.0M
Manufacturers Life Insurance Company, The 0.01% Reduce -3.0% 437,278 $16.4M
Ceredex Value Advisors LLC 0.47% Add +21.1% 413,950 $15.5M
Raymond James Financial Inc. 0.00% Reduce -8.9% 410,023 $15.4M
Bridgeway Capital Management, LLC 0.31% Reduce -2.0% 390,605 $14.6M
AQR Capital Management 0.01% Add +23.6% 381,302 $14.3M
Fisher Asset Management 0.00% Reduce -12.1% 375,276 $14.1M
Millennium Management 0.01% Add +53.2% 357,426 $13.4M
American Century Companies Inc. 0.01% Reduce -41.1% 346,756 $13.0M
Hotchkis & Wiley Capital Management LLC 0.04% Add +3.8% 333,596 $12.5M
MetLife Investment Management, LLC 0.06% Reduce -1.6% 314,574 $11.8M
FMR LLC 0.00% Add +24.1% 305,818 $11.5M
Morgan Stanley 0.00% Add +3.2% 291,208 $10.9M
Phocas Financial Corp. 1.32% Reduce -0.2% 271,481 $10.2M
Glenmede Trust Co. NA 0.05% — 260,721 $9.8M
Wells Fargo & Company 0.00% Add +4.3% 218,925 $8.2M
Denali Advisors LLC 0.85% Add +13.6% 205,200 $7.7M
Oberweis Asset Management Inc./ 0.27% No change 196,000 $7.3M
ProShare Advisors LLC 0.01% Reduce -47.7% 169,166 $6.3M
Bank of America Corp. 0.00% Reduce -16.0% 166,121 $6.2M
UBS Group AG 0.00% Add +34.3% 165,218 $6.2M
OneAscent Financial Services LLC 0.47% Reduce -6.6% 136,069 $5.1M
Peregrine Capital Management LLC 0.15% Reduce -4.7% 132,924 $5.0M
Nordea Investment Management AB 0.00% Reduce -12.7% 121,570 $4.6M
Ameriprise Financial Inc. 0.00% Reduce -2.9% 114,469 $4.3M
Swiss National Bank 0.00% Add +1.0% 114,062 $4.3M
Envestnet Asset Management Inc. 0.00% Reduce -31.4% 112,011 $4.2M
Sei Investments Co. 0.00% Add +2.2% 111,136 $4.2M
Barclays PLC 0.00% Add +22.2% 110,964 $4.2M
New York State Common Retirement Fund 0.01% Add +4.1% 109,390 $4.1M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Reduce -2.9% 105,237 $3.9M
Point72 Asset Management 0.01% Add +1576.4% 105,180 $3.9M
Tudor Investment Corporation 0.02% Add +3.1% 101,567 $3.8M
Wellington Management Group LLP 0.00% New 99,379 $3.7M
Curi Capital, LLC 0.06% Add +30.2% 98,334 $3.7M
Mendon Capital Advisors Corp. 1.40% Add +26.7% 95,000 $3.6M
Dark Forest Capital Management LP 0.16% Add +27.9% 94,876 $3.6M
Petiole USA ltd 2.28% No change 94,047 $3.5M
Great Lakes Advisors, LLC 0.03% Reduce -1.9% 93,324 $3.5M
Invesco Ltd. 0.00% Reduce -18.3% 82,206 $3.1M
Rhumbline Advisers 0.00% Reduce -15.2% 81,913 $3.1M
Mariner, LLC 0.00% Add +38.0% 80,087 $3.0M
D. E. Shaw & Co. 0.00% Reduce -5.6% 79,870 $3.0M
Creative Planning 0.00% Add +23.7% 79,438 $3.0M
Inspire Advisors, LLC 0.27% Add +7.2% 78,081 $2.9M
First Financial Bank - Trust Division 0.23% No change 75,779 $2.8M
Stifel Financial Corp. 0.00% Add +804.8% 75,539 $2.8M
Susquehanna International Group, LLP 0.00% Add +29.1% 74,378 $2.8M
AlphaQuest LLC 0.15% Add +28.5% 72,395 $2.7M
Rosenthal | Henry Capital Advisors, Inc. 2.50% No change 72,064 $2.7M
Arrowstreet Capital, Limited Partnership 0.00% Add +34.9% 71,984 $2.7M
Advisory Research Inc. 0.32% Reduce -5.4% 68,439 $2.6M
Alliancebernstein L.P. 0.00% No change 68,157 $2.6M
T. Rowe Price Associates Inc. 0.00% Add +1.7% 67,787 $2.5M
Numerai GP LLC 0.30% New 66,215 $2.5M
Two Sigma Investments, LP 0.00% Add +102.6% 65,339 $2.4M
Principal Financial Group Inc. 0.00% Reduce -91.0% 64,083 $2.4M
Trexquant Investment LP 0.02% Reduce -44.6% 62,958 $2.4M
Healthcare of Ontario Pension Plan Trust Fund 0.00% New 62,610 $2.3M
BridgePort Financial Solutions, LLC 0.59% Add +4.1% 58,107 $2.2M
Franklin Resources Inc. 0.00% Add +9.9% 55,678 $2.1M
Legal & General Group Plc 0.00% Reduce -10.0% 54,742 $2.1M
California State Teachers Retirement System 0.00% Reduce -0.2% 53,966 $2.0M
Ieq Capital, LLC 0.01% Reduce -6.1% 50,846 $1.9M
SG Americas Securities, LLC 0.00% Add +66.5% 50,226 $1.9M
Jane Street Group, LLC 0.00% Reduce -58.1% 50,080 $1.9M
Versor Investments LP 0.29% New 50,000 $1.9M
Deutsche Bank AG 0.00% Add +6.0% 49,162 $1.8M
Marshall Wace, LLP 0.00% New 46,629 $1.7M
Elo Mutual Pension Insurance Co 0.03% Add +20.3% 44,657 $1.7M
Man Group plc 0.00% Add +102.8% 44,457 $1.7M
Citadel Advisors 0.00% Add +56.8% 42,100 $1.6M
Guggenheim Capital LLC 0.01% Reduce -1.8% 41,929 $1.6M
Engineers Gate Manager LP 0.02% Add +130.9% 40,712 $1.5M
Rafferty Asset Management, LLC 0.01% Reduce -19.8% 39,609 $1.5M
Vest Financial, LLC 0.02% Add +11.4% 38,311 $1.4M
Atom Investors LP 0.11% New 37,858 $1.4M
Citigroup Inc. 0.00% Reduce -42.3% 37,848 $1.4M
Brandywine Global Investment Management, LLC 0.01% Reduce -3.0% 37,695 $1.4M
Russell Investments Group, Ltd. 0.00% Add +2.3% 36,460 $1.4M
Verition Fund Management LLC 0.01% Add +360.0% 36,097 $1.4M
Oppenheimer Asset Management Inc. 0.02% Reduce -10.8% 35,672 $1.3M
Jones Financial Companies LLLP 0.00% Add +6.6% 34,811 $1.3M
Clarkston Capital Partners, LLC 0.03% No change 34,696 $1.3M
HRT Financial LP 0.00% Add +97.5% 33,637 $1.3M
LPL Financial LLC 0.00% Add +126.2% 33,092 $1.2M
Paradigm Capital Management Inc. 0.05% No change 32,000 $1.2M
Sanctuary Advisors, LLC 0.01% Reduce -12.2% 31,545 $1.2M
Commonwealth Equity Services, LLC 0.00% Reduce -4.9% 30,991 $1.2M
Wedge Capital Management L L P 0.02% Add +2.0% 29,256 $1.1M
Natixis Advisors, LLC 0.00% Add +26.7% 28,474 $1.1M
Waterfront Wealth Inc. 0.20% Add +0.9% 27,909 $1.1M
Old National Bancorp 0.02% Reduce -14.2% 28,415 $1.1M
Magnetar Financial LLC 0.01% New 28,043 $1.1M
Schonfeld Strategic Advisors LLC 0.01% Add +84.8% 27,468 $1.0M
Janus Henderson Group PLC 0.00% No change 27,284 $1.0M
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% Reduce -1.2% 26,792 $1.0M
State Board of Administration of Florida Retirement System 0.00% No change 26,310 $986K
Quantinno Capital Management LP 0.00% Add +32.5% 26,295 $986K
Intech Investment Management LLC 0.01% Reduce -9.3% 26,254 $984K
ExodusPoint Capital Management, LP 0.01% Add +5.2% 25,809 $967K
Chicago Partners Investment Group LLC 0.02% Add +1.3% 25,264 $962K
Susquehanna Portfolio Strategies, LLC 0.01% Reduce -26.9% 25,590 $959K
Convergence Investment Partners, LLC 0.19% New 25,259 $947K
Occudo Quantitative Strategies LP 0.06% Add +56.9% 24,646 $924K
PNC Financial Services Group, Inc. 0.00% Reduce -12.6% 24,487 $918K
STRS Ohio 0.00% No change 23,500 $881K
BCGM Wealth Management, LLC 0.22% Add +0.0% 22,687 $850K
Bailard, Inc. 0.02% Add +12.5% 22,500 $843K
Captrust Financial Advisors 0.00% Reduce -0.3% 22,309 $836K
Cwm, LLC 0.00% Add +7.4% 22,033 $826K
Quadrant Capital Group LLC 0.02% Add +18.8% 21,881 $820K
BNP Paribas Financial Markets 0.00% Reduce -26.4% 20,952 $785K
Susquehanna Fundamental Investments, LLC 0.03% New 19,796 $742K
Kennondale Capital Management LLC 0.53% No change 19,259 $722K
Thrivent Financial for Lutherans 0.00% No change 18,916 $709K
Acadian Asset Management LLC 0.00% Add +59.4% 18,576 $695K
Teacher Retirement System of Texas 0.00% Reduce -17.8% 17,883 $670K
Voloridge Investment Management, LLC 0.00% Reduce -19.9% 17,306 $649K
Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% No change 17,005 $637K
US Bancorp \de 0.00% Reduce -0.2% 16,954 $635K
IFG Advisory, LLC 0.03% Reduce -19.7% 16,855 $632K
Police & Firemen's Retirement System of New Jersey 0.01% No change 16,146 $605K
Arizona State Retirement System 0.00% Reduce -6.5% 16,104 $604K
Larson Financial Group LLC 0.02% Add +0.2% 15,849 $594K
Sentinel Pension Advisors, LLC 0.09% No change 15,228 $571K
Pathstone Holdings, LLC 0.00% Reduce -13.7% 14,966 $561K
Osaic Holdings, Inc. 0.00% Reduce -16.4% 14,319 $537K
Kestra Advisory Services, LLC 0.00% Add +0.1% 14,089 $528K
Wealth Enhancement Advisory Services, LLC 0.00% Add +6.7% 13,679 $524K
Venture Visionary Partners LLC 0.02% Add +0.0% 13,547 $508K
HSBC Holdings PLC 0.00% Add +96.9% 12,905 $483K
Inspire Investing, LLC 0.04% Add +3.7% 12,749 $478K
Handelsbanken Fonder AB 0.00% No change 12,516 $469K
KLP Kapitalforvaltning As 0.00% No change 12,500 $469K
Cerity Partners LLC 0.00% Reduce -2.8% 12,293 $461K
Intrepid Financial Planning Group LLC 0.17% Reduce -25.6% 12,121 $454K
Connable Office Inc. 0.04% No change 12,031 $451K
EJF Capital LP 0.25% Reduce -61.2% 11,525 $432K
Cetera Investment Advisers 0.00% Reduce -0.1% 10,681 $400K
Voya Investment Management LLC 0.00% Reduce -2.8% 10,417 $390K
Mirabella Financial Services LLP 0.04% New 10,253 $384K
O'shaughnessy Asset Management, LLC 0.00% Add +55.4% 10,137 $380K
Minerva Advisors LLC 0.25% No change 9,875 $370K
Choreo, LLC 0.00% Reduce -1.1% 9,712 $366K
Mercer Global Advisors Inc. 0.00% Add +26.8% 9,595 $360K
Jump Financial, LLC 0.00% New 9,467 $355K
Royal Bank of Canada 0.00% Reduce -39.1% 9,241 $346K
Comerica Bank 0.00% Reduce -0.5% 9,108 $341K
Sapient Capital LLC 0.00% Add +7.1% 9,053 $341K
Monarch Capital Management Inc. 0.08% No change 8,918 $334K
CANADA LIFE ASSURANCE Co 0.00% Reduce -13.7% 8,779 $329K
Y-Intercept (Hong Kong) Ltd 0.01% Reduce -86.9% 8,470 $317K
Rehmann Capital Advisory Group 0.02% Reduce -19.4% 8,426 $316K
nVerses Capital, LLC 0.69% — 8,267 $310K
MQS Management LLC 0.17% Reduce -51.8% 7,805 $293K
Kingsview Wealth Management, LLC 0.00% No change 7,770 $291K
Cranbrook Wealth Management, LLC 0.06% No change 7,707 $289K
Canada Pension Plan Investment Board 0.00% New 7,700 $289K
Counterpoint Mutual Funds LLC 0.02% New 7,616 $285K
Pictet Asset Management Holding SA 0.00% No change 7,577 $284K
PDS Planning, Inc 0.02% No change 7,335 $275K
Integrated Investment Consultants, LLC 0.05% Reduce -0.0% 7,267 $272K
Twinbeech Capital LP 0.02% Reduce -18.8% 7,063 $265K
HighPoint Advisor Group LLC 0.01% No change 6,925 $260K
Campbell & CO Investment Adviser LLC 0.01% Reduce -47.0% 6,912 $259K
Cary Street Partners Financial LLC 0.01% No change 6,849 $257K
Norris Perne & French LLP 0.02% No change 6,834 $256K
Waverly Advisors, LLC 0.00% Add +2.0% 6,784 $254K
Zhang Financial LLC 0.01% No change 6,258 $235K
Aquatic Capital Management LLC 0.01% Reduce -68.2% 6,042 $226K
Pathway Financial Advisers, LLC 0.06% Add +0.9% 5,913 $222K
Balyasny Asset Management L.P. 0.00% Reduce -35.6% 5,840 $219K
Inceptionr LLC 0.06% New 5,830 $219K
Evergreen Capital Management LLC 0.00% New 5,825 $218K
Brevan Howard Capital Management LP 0.00% New 5,709 $214K
Two Sigma Advisers, LP 0.00% Reduce -17.1% 5,574 $209K
Harbour Trust & Investment Management Co 0.02% No change 5,465 $205K
Goelzer Investment Management, Inc. 0.01% Reduce -20.3% 5,389 $202K
Ameritas Investment Partners, Inc. 0.01% Reduce -7.3% 4,681 $175K
Ensign Peak Advisors, Inc 0.00% Reduce -63.2% 4,070 $153K
Allworth Financial LP 0.00% Add +10.4% 3,424 $128K
Sterling Capital Management LLC 0.00% Reduce -17.4% 3,169 $119K
Fifth Third Bancorp 0.00% Reduce -18.4% 2,538 $95K
State of Alaska, Department of Revenue 0.00% Add +4.0% 2,542 $95K
Arax Advisory Partners 0.00% Reduce -88.9% 2,196 $82K
KBC Group NV 0.00% No change 2,169 $81K
Amalgamated Bank 0.00% Reduce -9.2% 1,812 $68K
Ancora Advisors LLC 0.00% No change 1,791 $67K
Capital Analysts, LLC 0.00% No change 1,800 $67K
Blue Trust, Inc. 0.00% No change 1,784 $67K
GGM Financial LLC 0.03% Add +0.9% 1,706 $64K
Signaturefd, LLC 0.00% Reduce -0.5% 1,488 $56K
Tower Research Capital LLC (TRC) 0.00% Reduce -62.1% 1,417 $53K
Caldwell Trust Co 0.00% No change 1,300 $49K
Strategic Investment Solutions, Inc. 0.01% Add +0.9% 1,194 $45K
MAI Capital Management 0.00% Reduce -15.3% 1,159 $43K
Covestor Ltd 0.02% Add +68.9% 1,042 $39K
EverSource Wealth Advisors, LLC 0.00% Add +18.6% 1,013 $38K
Thurston, Springer, Miller, Herd & Titak, Inc. 0.01% New 1,000 $37K
GAMMA Investing LLC 0.00% Add +62.1% 987 $37K
Indiana Trust & Investment Management Co 0.01% No change 902 $34K
Public Employees Retirement System of Ohio 0.00% Add +1.8% 840 $31K
Smartleaf Asset Management LLC 0.00% Add +325.7% 796 $30K
Wellington Grp LLC 0.01% — 768 $29K
Nomura Asset Management Co. Ltd. 0.00% No change 750 $28K
LSV Asset Management 0.00% No change 715 $27K
Creative Financial Designs Inc. 0.00% No change 650 $24K
Farther Finance Advisors, LLC 0.00% Add +896.7% 598 $22K
Essential Partners LLC 0.01% Reduce -23.3% 516 $19K
Nisa Investment Advisors, LLC 0.00% Reduce -3.5% 504 $19K
Global Retirement Partners, LLC 0.00% New 476 $18K
CX Institutional 0.00% Add +1.0% 401 $15K
Danske Bank A/S 0.00% No change 400 $15K
Westside Investment Management, Inc. 0.00% No change 390 $15K
Rothschild Investment LLC 0.00% Add +47.0% 363 $14K
Torren Management, LLC 0.01% — 350 $13K
Trust Co. of Toledo NA 0.00% No change 321 $12K
Harbor Capital Advisors, Inc. 0.00% Reduce -1.6% 317 $12K
BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% Add +20.3% 320 $12K
Parallel Advisors, LLC 0.00% Reduce -10.9% 310 $12K
Pinnacle Wealth Planning Services, Inc. 0.00% New 310 $12K
Los Angeles Capital Management LLC 0.00% New 323 $12K
Rockefeller Capital Management L.P. 0.00% Reduce -6.5% 302 $11K
IFP Advisors, Inc 0.00% Add +25.9% 301 $11K
Quarry LP 0.00% Add +16.2% 280 $10K
Versant Capital Management, Inc 0.00% Add +99.1% 231 $9K
Optiver Holding B.V. 0.00% Reduce -34.5% 216 $8K
Root Financial Partners, LLC 0.00% Add +17.7% 193 $7K
True Wealth Design, LLC 0.00% Reduce -31.7% 155 $6K
CENTRAL TRUST Co 0.00% No change 147 $6K
Assetmark, Inc. 0.00% Reduce -95.7% 111 $4K
Bessemer Group Inc. 0.00% No change 100 $4K
Sound Income Strategies, LLC 0.00% No change 89 $3K
Dogwood Wealth Management LLC 0.00% New 62 $2K
Northwestern Mutual Wealth Management Co. 0.00% Add +5.4% 59 $2K
Private Wealth Management Group, LLC 0.00% No change 55 $2K
Bell Investment Advisors, Inc 0.00% Add +40.5% 52 $2K
CIBC Private Wealth Group LLC 0.00% Reduce -95.9% 50 $2K
JFS Wealth Advisors, LLC 0.00% Add +11.9% 47 $2K
Bare Financial Services, Inc 0.00% New 43 $2K
Physician Wealth Advisors, Inc. 0.00% New 42 $2K
Cary Street Partners Investment Advisory LLC 0.00% Add +17.6% 40 $1K
WPG Advisers, LLC 0.00% No change 37 $1K
Retirement Wealth Solutions LLC 0.00% No change 34 $1K
Parkside Financial Bank & Trust 0.00% New 30 $1K
Keating Financial Advisory Services, Inc. 0.00% — 25 $937
SJS Investment Consulting Inc. 0.00% Add +300.0% 24 $900
Clearstead Advisors, LLC 0.00% Reduce -95.7% 21 $788
Kilter Group LLC 0.00% New 20 $750
MassMutual Private Wealth & Trust, FSB 0.00% No change 19 $712
Huntington National Bank 0.00% No change 17 $637
Fortitude Family Office, LLC 0.00% Reduce -42.9% 12 $450
Trust Co 0.00% New 12 $450
DiNuzzo Private Wealth, Inc. 0.00% No change 12 $450
Rialto Wealth Management, LLC 0.00% Add +75.0% 7 $263
Bay Harbor Wealth Management, LLC 0.00% Add +20.0% 6 $224
SBI Securities Co., Ltd. 0.00% No change 5 $187
HFM Investment Advisors, LLC 0.00% No change 3 $113
Dunhill Financial, LLC 0.00% New 1 $43
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.