First Merchants Corp: which funds bought and sold

Institutions that bought and sold First Merchants shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 157 institutions that filed 13F reports for both quarters added to or opened positions in First Merchants, and 109 cut or closed them. Together they added a net 556K shares, +1.2% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 197K shares (+2.0%); index fund managers were net buyers of 901K shares (+5.3%). 28 opened a new position and 23 sold out entirely.

Bought, Q2 2026 157 institutions, 28 of them new holders Sold, Q2 2026 109 institutions, 23 of them sold out

Net change, all compared +556K shares (+1.2%)

Net change, active managers +197K shares (+2.0%), 27 bought, 19 sold

Buyers versus sellers

institutions compared, 324

157 bought 58 109 sold

Active managers and hedge funds 27 bought · 19 sold · +197K

Index fund managers 8 bought · 4 sold · +901K

Other institutions 122 bought · 86 sold · −542K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	+425K +8.7%	5.3M	$233M
State Street Corp Index funds	+312K +13.9%	2.6M	$111M
Edgestream Partners, L.P. Hedge fund	+163K +732.0%	186K	$8.1M
AQR Capital Management LLC Hedge fund	+161K +39.9%	566K	$24.7M
Jpmorgan Chase & Co	+110K +20.7%	640K	$27.9M
Geode Capital Management, LLC Index funds	+97K +6.2%	1.7M	$73M
Marshall Wace, LLP Hedge fund	+95K +147.8%	159K	$7M
Dimensional Fund Advisors LP	+94K +2.6%	3.7M	$161M
Exoduspoint Capital Management, LP Hedge fund	+82K New position	82K	$3.6M
Verition Fund Management LLC Hedge fund	+75K New position	75K	$3.3M
Two Sigma Investments, LP Hedge fund	+65K +16.0%	470K	$20.6M
Arrowstreet Capital, Limited Partnership Hedge fund	+64K +91.2%	135K	$5.9M
Schonfeld Strategic Advisors LLC Hedge fund	+61K +730.1%	70K	$3M
Glenmede Trust Co Na	+58K +24.4%	296K	$13M
Prudential Financial Inc	+58K +594.9%	68K	$3M
Empowered Funds, LLC	+55K +24.6%	278K	$12.1M
First Trust Advisors LP	+51K +7.0%	776K	$33.9M
FMR LLC Active manager	+50K +13.5%	421K	$18.4M
Victory Capital Management Inc Active manager	+48K +4.8%	1.0M	$45.6M
Vanguard Portfolio Management LLC Index funds	+44K +1.3%	3.4M	$149M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Edgestream Partners, L.P. Hedge fund	+163K +732.0%	186K	$8.1M
AQR Capital Management LLC Hedge fund	+161K +39.9%	566K	$24.7M
Marshall Wace, LLP Hedge fund	+95K +147.8%	159K	$7M
Exoduspoint Capital Management, LP Hedge fund	+82K New position	82K	$3.6M
Verition Fund Management LLC Hedge fund	+75K New position	75K	$3.3M
Two Sigma Investments, LP Hedge fund	+65K +16.0%	470K	$20.6M
Arrowstreet Capital, Limited Partnership Hedge fund	+64K +91.2%	135K	$5.9M
Schonfeld Strategic Advisors LLC Hedge fund	+61K +730.1%	70K	$3M
FMR LLC Active manager	+50K +13.5%	421K	$18.4M
Victory Capital Management Inc Active manager	+48K +4.8%	1.0M	$45.6M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Goldman Sachs Group Inc	−440K −38.7%	697K	$30.5M
Bank Of New York Mellon Corp	−344K −45.3%	416K	$18.2M
Wellington Management Group LLP Active manager	−311K −30.8%	697K	$30.4M
William Blair Investment Management, LLC Active manager	−167K −21.2%	622K	$27.2M
Jane Street Group, LLC	−138K Sold out	0	—
Alliancebernstein L.P. Active manager	−98K −32.5%	204K	$7.9M
Earnest Partners LLC Active manager	−82K −3.6%	2.2M	$95M
Point72 Asset Management, L.P. Hedge fund	−69K −66.3%	35K	$1.5M
UBS Group AG	−57K −43.2%	75K	$3.3M
Sei Investments Co	−55K −37.1%	93K	$4.1M
Susquehanna International Group, LLP	−50K −24.9%	151K	$6.6M
Man Group PLC Hedge fund	−46K −89.7%	5,244	$229,110
Bank Of America Corp	−37K −15.3%	206K	$9M
Balyasny Asset Management L.P. Hedge fund	−37K Sold out	0	—
Connor, Clark & Lunn Investment Management Ltd.	−37K Sold out	0	—
Rosenthal \| Henry Capital Advisors, Inc.	−31K −42.9%	41K	$1.8M
Barclays PLC	−28K −62.5%	17K	$729,842
Y-Intercept (Hong Kong) Ltd	−27K −31.8%	57K	$2.5M
Elo Mutual Pension Insurance Co	−23K Sold out	0	—
Mendon Capital Advisors Corp	−23K −23.1%	75K	$3.3M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Wellington Management Group LLP Active manager	−311K −30.8%	697K	$30.4M
William Blair Investment Management, LLC Active manager	−167K −21.2%	622K	$27.2M
Alliancebernstein L.P. Active manager	−98K −32.5%	204K	$7.9M
Earnest Partners LLC Active manager	−82K −3.6%	2.2M	$95M
Point72 Asset Management, L.P. Hedge fund	−69K −66.3%	35K	$1.5M
Man Group PLC Hedge fund	−46K −89.7%	5,244	$229,110
Balyasny Asset Management L.P. Hedge fund	−37K Sold out	0	—
Renaissance Technologies LLC Hedge fund	−19K Sold out	0	—
Acadian Asset Management LLC Active manager	−17K Sold out	0	—
O'Shaughnessy Asset Management, LLC Active manager	−16K −15.0%	89K	$3.9M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Exoduspoint Capital Management, LPHedge fund	82K	$3.6M
Verition Fund Management LLCHedge fund	75K	$3.3M
Jain Global LLCHedge fund	31K	$1.4M
Quantbot Technologies LPHedge fund	28K	$1.2M
Mirabella Financial Services LLP	22K	$956,243
Squarepoint Ops LLCHedge fund	21K	$916,660
SG Americas Securities, LLC	19K	$846,000
Ifg Advisory, LLC	17K	$736,395
Corient Private Wealth LP	9,137	$399,197
Keybank National Association	7,980	$348,646

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Jane Street Group, LLC	138K	$5.3M
Balyasny Asset Management L.P.Hedge fund	37K	$1.4M
Connor, Clark & Lunn Investment Management Ltd.	37K	$1.4M
Elo Mutual Pension Insurance Co	23K	$907,212
Renaissance Technologies LLCHedge fund	19K	$727,659
Acadian Asset Management LLCActive manager	17K	$661,000
HSBC Holdings PLC	9,761	$379,166
R Squared Ltd	8,102	$313,791
Entropy Technologies, LP	6,964	$269,716
Healthcare Of Ontario Pension Plan Trust Fund	3,349	$129,707

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 306
Ten largest holders: 52.5%
Index fund managers: 38.1%
Active managers and hedge funds: 21.8%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	27	19	6	3	+197K	+2.0%
Index fund managers	8	4	0	0	+901K	+5.3%
Other institutions	122	86	22	20	−542K	−2.8%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on First Merchants.

Only managers that filed a holdings report for both quarters are compared (324 here). 9 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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