Merlin, Inc.

MRLN

Exchange: Nasdaq
Industry: Services-Computer Integrated Systems Design
SEC CIK: 0002028707

SEC filings (opens in a new tab)

No open-market purchases or sales by Merlin, Inc. insiders were filed in the last 90 days; 62 institutions reported holding it in 13F filings for Q2 2026, worth $88.9M in total; no superinvestor holds it.

Q1 2026 vs. Q4 2025

How the institutions holding Merlin, Inc. changed between Q4 2025 and Q1 2026.

All holders in Q1 2026 All holders in Q4 2025

13F holders of MRLN: Q4 2025 compared with Q1 2026
Measure	Q4 2025	Of which not filed for Q1 2026	Q1 2026	Change
Holders	58	2	29	−27
Shares	18.3M	23.2K	3.72M	−14.5M (−79.6%)
Value	$195.4M	$248.9K	$27.3M	−$167.8M (−86.0%)

2 institutions that held it in Q4 2025 haven't filed for Q1 2026 yet. Not filing isn't selling, so the changes leave them out.

New holders (13)

Institutions that held Merlin, Inc. at the end of Q1 2026 but not at the end of Q4 2025.

Institutions new to MRLN in Q1 2026
Institution	Shares	Value	% of portfolio
Baillie Gifford & Co	2,016,289	$14.8M	0.02%
Continental General Insurance Co	239,872	$1.76M	0.25%
Greenhaven Road Investment Management, L.P.	108,233	$795.5K	0.55%
Board of Trustees of The Leland Stanford Junior University	32,668	$240.1K	0.03%
XTX Topco Ltd	29,708	$218.4K	0.00%
HRT Financial LP	29,515	$216.0K	0.00%
Bank of America Corp	11,466	$84.3K	0.00%
Rockefeller Capital Management L.P.	600	$4.41K	0.00%
Hurley Capital, LLC	454	$3.34K	0.00%
CWM, LLC	410	$3.01K	0.00%
Royal Bank of Canada	100	$1.00K	0.00%
Archer Investment Corp	120	$882	0.00%
Golden State Equity Partners	80	$588	0.00%

Sold out (40)

Institutions that held Merlin, Inc. at the end of Q4 2025 and filed for Q1 2026 without it.

Institutions that sold out of MRLN in Q1 2026
Institution	Shares, Q4 2025	Value, Q4 2025
Highbridge Capital Management LLC	2,011,897	$21.6M
Governors Lane LP	1,000,700	$10.7M
Harraden Circle Investments, LLC	955,646	$10.2M
CNH Partners LLC	920,621	$9.87M
Decagon Asset Management LLP	816,410	$8.75M
Linden Advisors LP	750,000	$8.04M
Berkley W R Corp	633,772	$6.79M
LMR Partners LLP	600,000	$6.43M
Vivaldi Asset Management, LLC	573,278	$6.15M
Radcliffe Capital Management, L.P.	521,028	$5.59M
Mercuria Capital Strategies, LLC	535,000	$5.42M
Rivernorth Capital Management, LLC	499,513	$5.35M
Tenor Capital Management Co., L.P.	490,945	$5.26M
Hudson Bay Capital Management LP	432,943	$4.64M
Picton Mahoney Asset Management	420,928	$4.51M
Shay Capital LLC	404,403	$4.34M
FNY Investment Advisers, LLC	383,975	$4.12M
Lineage Point Capital LP	376,205	$4.03M
Meteora Capital, LLC	215,606	$2.31M
Gritstone Asset Management LLC	196,794	$2.11M
Periscope Capital Inc.	150,000	$1.61M
Shaolin Capital Management LLC	150,000	$1.61M
BCK Capital Management LP	144,322	$1.55M
Raymond James Financial Inc	134,458	$1.44M
Wexford Capital LP	100,000	$1.07M
Cannon Global Investment Management, LLC	88,500	$948.7K
T3 Companies, LLC	82,100	$880.1K
Westchester Capital Management, LLC	74,595	$799.7K
SkyView Investment Advisors, LLC	51,797	$555.0K
Private Advisor Group, LLC	50,291	$539.1K
Mirae Asset Global Investments Co., Ltd.	43,700	$468.5K
Clear Street Group Inc.	42,499	$455.6K
Qube Research & Technologies Ltd	27,657	$296.5K
JPMorgan Chase & Co	24,864	$266.5K
Bulldog Investors, LLP	17,684	$189.6K
Robinson Capital Management, LLC	15,250	$163.5K
PFG Investments, LLC	15,000	$160.8K
Readystate Asset Management LP	13,133	$140.8K
Prelude Capital Management, LLC	10,211	$109.5K
Caitong International Asset Management Co., Ltd	747	$8.01K

Not filed for Q1 2026 yet (2)

Institutions that held Merlin, Inc. at the end of Q4 2025 and haven't filed a 13F for Q1 2026. Not filing isn't selling, so they aren't counted as sold out.

Institutions holding MRLN in Q4 2025 that haven't filed for Q1 2026
Institution	Shares, Q4 2025	Value, Q4 2025
Sage Advisors, LLC	23,135	$248.0K
ORG Partners LLC	80	$857