Merchants Bancorp
MBIN- Exchange
- Nasdaq
- Industry
- State Commercial Banks
- SEC CIK
- 0001629019
In the last 90 days, Merchants Bancorp insiders filed 0 open-market purchases and 2 sales; 188 institutions reported holding it in 13F filings for Q2 2026, worth $2.26B in total; no superinvestor holds it.
13F holders, Q1 2026
Institutional positions in Merchants Bancorp as of Mar 31, 2026. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works
- Institutional holders
- 178
- +30 vs. Q4 2025
- Shares held
- 45.5M
- +30.9M (+211.1%) vs. Q4 2025
- Total value
- $1.97B
- +$1.47B (+296.0%) vs. Q4 2025
- New holders
- 51
- 56 more added
- Sold out
- 21
- 46 more reduced
3 institutions that held it in Q4 2025 haven't filed for Q1 2026 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.
Compare with Q4 2025: new holders, sold out and not filed yet
Holders and value by quarter
Institutions reporting MBIN on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.
| Quarter | Holders | Value |
|---|---|---|
| Q2 2026 | 188 | $2.26B |
| Q1 2026 | 178 | $1.97B |
| Q4 2025 | 151 | $548.2M |
| Q3 2025 | 158 | $501.3M |
| Q2 2025 | 150 | $505.0M |
| Q1 2025 | 160 | $551.1M |
| Q4 2024 | 170 | $1.53B |
| Q3 2024 | 174 | $654.3M |
| Q2 2024 | 174 | $589.0M |
| Q1 2024 | 173 | $515.7M |
| Q4 2023 | 164 | $509.8M |
| Q3 2023 | 122 | $296.1M |
| Q2 2023 | 114 | $271.5M |
| Q1 2023 | 125 | $267.8M |
| Q4 2022 | 114 | $246.7M |
| Q3 2022 | 121 | $229.8M |
| Q2 2022 | 114 | $217.9M |
| Q1 2022 | 121 | $260.2M |
| Q4 2021 | 114 | $302.4M |
| Q3 2021 | 102 | $250.0M |
| Q2 2021 | 110 | $254.5M |
| Q1 2021 | 106 | $275.2M |
Institutions, Q1 2026
Shares, value and share of portfolio for each institution holding Merchants Bancorp; share changes are against Q4 2025.
| Institution | Shares | Value | % of portfolio | Change in shares | Action |
|---|---|---|---|---|---|
| Elser Financial Planning, Inc | 26,983,101 | $1.18B | 57.23% | +26,983,101 | New |
| BlackRock, Inc. | 4,050,918 | $173.8M | 0.00% | +2,169,450+115.3% | Added |
| Dimensional Fund Advisors LP | 1,758,985 | $75.5M | 0.02% | +102,087+6.2% | Added |
| Doma Perpetual Capital Management LLC | 1,115,594 | $47.9M | 12.85% | 00.0% | Unchanged |
| Nomura Asset Management International Inc. | 1,093,004 | $46.9M | 0.08% | −17,379−1.6% | Reduced |
| State Street Corp | 1,034,632 | $44.5M | 0.00% | +460,546+80.2% | Added |
| Vanguard Capital Management LLC | 1,000,776 | $42.9M | 0.00% | +1,000,776 | New |
| American Century Companies Inc | 742,635 | $31.9M | 0.02% | +67,118+9.9% | Added |
| Geode Capital Management, LLC | 725,435 | $31.1M | 0.00% | +10,041+1.4% | Added |
| Royce & Associates LP | 567,267 | $24.3M | 0.24% | −241,047−29.8% | Reduced |
| Vanguard Portfolio Management LLC | 464,663 | $19.9M | 0.00% | +464,663 | New |
| Hotchkis & Wiley Capital Management LLC | 302,408 | $13.0M | 0.04% | −88,660−22.7% | Reduced |
| Morgan Stanley | 298,060 | $12.8M | 0.00% | +43,281+17.0% | Added |
| Northern Trust Corp | 287,093 | $12.3M | 0.00% | +30,894+12.1% | Added |
| Banc Funds Co LLC | 281,062 | $12.1M | 2.25% | +36,600+15.0% | Added |
| Basswood Capital Management, L.L.C. | 273,747 | $11.7M | 0.60% | 00.0% | Unchanged |
| Charles Schwab Investment Management Inc | 248,082 | $10.6M | 0.00% | +13,445+5.7% | Added |
| Bank of New York Mellon Corp | 236,146 | $10.1M | 0.00% | +71,775+43.7% | Added |
| Valeo Financial Advisors, LLC | 235,100 | $10.1M | 0.24% | −9,008−3.7% | Reduced |
| Royal Bank of Canada | 212,852 | $9.13M | 0.00% | +6,899+3.3% | Added |
| Denali Advisors LLC | 194,710 | $8.36M | 0.93% | −42,904−18.1% | Reduced |
| Vanguard Fiduciary Trust Co | 181,876 | $7.80M | 0.00% | +181,876 | New |
| Invesco Ltd. | 155,067 | $6.65M | 0.00% | +109,249+238.4% | Added |
| Principal Financial Group Inc | 142,616 | $6.12M | 0.00% | +142,616 | New |
| Ballast Asset Management, LP | 136,586 | $5.86M | 2.61% | +3,290+2.5% | Added |
| Goldman Sachs Group Inc | 126,561 | $5.43M | 0.00% | −35,724−22.0% | Reduced |
| First Trust Advisors LP | 116,355 | $4.99M | 0.00% | −24,790−17.6% | Reduced |
| SEI Investments Co | 108,975 | $4.68M | 0.00% | +53,051+94.9% | Added |
| Franklin Resources Inc | 107,571 | $4.62M | 0.00% | +90,231+520.4% | Added |
| Bank of America Corp | 106,357 | $4.56M | 0.00% | +42,582+66.8% | Added |
| Public Sector Pension Investment Board | 105,057 | $4.51M | 0.01% | +105,057 | New |
| Deutsche Bank AG | 102,958 | $4.42M | 0.00% | +34,227+49.8% | Added |
| Mackenzie Financial Corp | 87,093 | $3.74M | 0.00% | +29,769+51.9% | Added |
| Russell Investments Group, Ltd. | 85,842 | $3.68M | 0.00% | −36,848−30.0% | Reduced |
| UBS Group AG | 80,275 | $3.44M | 0.00% | +4,683+6.2% | Added |
| Rhumbline Advisers | 77,434 | $3.32M | 0.00% | +44,113+132.4% | Added |
| Ameriprise Financial Inc | 72,752 | $3.12M | 0.00% | +28,702+65.2% | Added |
| New York State Common Retirement Fund | 60,734 | $2.61M | 0.00% | −10,300−14.5% | Reduced |
| Sapient Capital LLC | 60,521 | $2.61M | 0.04% | −15,000−19.9% | Reduced |
| Legal & General Group Plc | 58,447 | $2.51M | 0.00% | +36,776+169.7% | Added |
| State Board of Administration of Florida Retirement System | 57,240 | $2.46M | 0.00% | +57,240 | New |
| Renaissance Technologies LLC | 49,089 | $2.11M | 0.00% | +3,789+8.4% | Added |
| Nuveen, LLC | 47,878 | $2.05M | 0.00% | +1,160+2.5% | Added |
| Raymond James Financial Inc | 43,403 | $1.86M | 0.00% | −40,226−48.1% | Reduced |
| Two Sigma Investments, LP | 41,621 | $1.79M | 0.00% | −38,655−48.2% | Reduced |
| Swiss National Bank | 40,700 | $1.75M | 0.00% | 00.0% | Unchanged |
| AQR Capital Management LLC | 38,312 | $1.64M | 0.00% | −3,560−8.5% | Reduced |
| Quantinno Capital Management LP | 34,926 | $1.50M | 0.00% | +804+2.4% | Added |
| LPL Financial LLC | 34,881 | $1.50M | 0.00% | −1,911−5.2% | Reduced |
| Wakefield Asset Management LLLP | 29,530 | $1.27M | 0.34% | +29,530 | New |
| Prudential Financial Inc | 29,415 | $1.26M | 0.00% | +29,415 | New |
| UBS Asset Management Americas Inc | 29,329 | $1.26M | 0.00% | −29,640−50.3% | Reduced |
| Trexquant Investment LP | 29,191 | $1.25M | 0.01% | −38,469−56.9% | Reduced |
| JPMorgan Chase & Co | 29,161 | $1.24M | 0.00% | −72,553−71.3% | Reduced |
| Pacific Ridge Capital Partners, LLC | 28,753 | $1.23M | 0.27% | +6,817+31.1% | Added |
| D. E. Shaw & Co., Inc. | 28,275 | $1.21M | 0.00% | −152,033−84.3% | Reduced |
| Price T Rowe Associates Inc | 27,778 | $1.19M | 0.00% | +3,764+15.7% | Added |
| Formidable Asset Management, LLC | 34,400 | $1.17M | 0.18% | 00.0% | Unchanged |
| Verdence Capital Advisors LLC | 25,849 | $1.11M | 0.06% | +25,849 | New |
| Great West Life Assurance Co | 24,083 | $1.03M | 0.00% | +21,892+999.2% | Added |
| James Investment Research Inc | 23,770 | $1.02M | 0.11% | 00.0% | Unchanged |
| Twelve Points Wealth Management LLC | 22,916 | $983.3K | 0.22% | −1,119−4.7% | Reduced |
| Picton Mahoney Asset Management | 22,530 | $966.8K | 0.01% | +22,530 | New |
| Alliancebernstein L.P. | 27,618 | $940.7K | 0.00% | +88+0.3% | Added |
| XTX Topco Ltd | 19,647 | $843.1K | 0.01% | −1,199−5.8% | Reduced |
| Thrivent Financial for Lutherans | 19,605 | $841.0K | 0.00% | +19,605 | New |
| California State Teachers Retirement System | 19,149 | $821.7K | 0.00% | −193−1.0% | Reduced |
| Federated Hermes, Inc. | 17,844 | $765.7K | 0.00% | +4,124+30.1% | Added |
| State of Alaska, Department of Revenue | 16,452 | $705.0K | 0.01% | +14,485+736.4% | Added |
| Vanguard Global Advisers, LLC | 16,237 | $696.7K | 0.00% | +16,237 | New |
| Stifel Financial Corp | 16,198 | $695.1K | 0.00% | −23−0.1% | Reduced |
| BCGM Wealth Management, LLC | 15,477 | $664.1K | 0.17% | 00.0% | Unchanged |
| BNP Paribas Arbitrage, SA | 15,198 | $652.1K | 0.00% | −12,197−44.5% | Reduced |
| Illinois Municipal Retirement Fund | 15,132 | $649.3K | 0.01% | +15,132 | New |
| Vanguard Asset Management, Ltd | 14,747 | $632.8K | 0.00% | +14,747 | New |
| Manufacturers Life Insurance Company, The | 14,729 | $632.0K | 0.00% | −81−0.5% | Reduced |
| Impact Partnership Wealth, LLC | 14,519 | $623.0K | 0.08% | 00.0% | Unchanged |
| MetLife Investment Management | 14,247 | $611.3K | 0.00% | −1,327−8.5% | Reduced |
| STRS Ohio | 14,200 | $609.3K | 0.00% | −4,500−24.1% | Reduced |
| Curry Webb Wealth Management LLC | 14,083 | $604.3K | 0.29% | −3,149−18.3% | Reduced |
| Acadian Asset Management LLC | 13,721 | $587.0K | 0.00% | +13,721 | New |
| Citigroup Inc | 13,241 | $568.2K | 0.00% | +10,461+376.3% | Added |
| Louisiana State Employees Retirement System | 13,000 | $557.8K | 0.01% | +13,000 | New |
| Mirae Asset Global ETFs Holdings Ltd. | 12,184 | $522.8K | 0.00% | +160+1.3% | Added |
| Commonwealth Equity Services, LLC | 12,000 | $514.9K | 0.00% | +58+0.5% | Added |
| CWM Advisors, LLC | 11,944 | $512.5K | 0.03% | −6,592−35.6% | Reduced |
| State of Tennessee, Treasury Department | 11,263 | $483.3K | 0.00% | +11,263 | New |
| Oxford Financial Group Ltd | 11,137 | $477.9K | 0.03% | 00.0% | Unchanged |
| Susquehanna International Group, LLP | 10,168 | $436.3K | 0.00% | −4,064−28.6% | Reduced |
| Aldebaran Capital, LLC | 10,125 | $434.5K | 0.33% | 00.0% | Unchanged |
| The PNC Financial Services Group, Inc. | 9,878 | $423.9K | 0.00% | +12+0.1% | Added |
| Wells Fargo & Company | 9,875 | $423.7K | 0.00% | −22,187−69.2% | Reduced |
| Mirabella Financial Services LLP | 9,706 | $416.5K | 0.04% | −5,297−35.3% | Reduced |
| New York State Teachers Retirement System | 9,146 | $392.0K | 0.00% | +9,146 | New |
| Cetera Investment Advisers | 8,428 | $361.7K | 0.00% | +831+10.9% | Added |
| Landscape Capital Management, L.L.C. | 8,388 | $359.9K | 0.02% | +8,388 | New |
| Amalgamated Bank | 8,349 | $358.0K | 0.00% | +7,533+923.2% | Added |
| Yousif Capital Management, LLC | 7,847 | $336.7K | 0.00% | +7,847 | New |
| Meeder Advisory Services, Inc. | 7,500 | $321.8K | 0.01% | 00.0% | Unchanged |
| Teachers Retirement System of the State of Kentucky | 7,300 | $313.0K | 0.00% | +7,300 | New |