Ranked by reported Q1 2026 13F market value
Share of total reported institutional value in FRME held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | BlackRock, Inc. | 4.9M | $189.8M | +5.5% | 7.737% | 0.00% |
| 2 | DIMENSIONAL FUND ADVISORS LP | 3.6M | $139.3M | +8.4% | 5.679% | 0.03% |
| 3 | VANGUARD PORTFOLIO MANAGEMENT LLC | 3.4M | $130.1M | — | 5.304% | 0.01% |
| 4 | VANGUARD CAPITAL MANAGEMENT LLC | 2.7M | $105.8M | — | 4.312% | 0.00% |
| 5 | EARNEST PARTNERS LLC | 2.3M | $87.4M | -2.4% | 3.562% | 0.36% |
| 6 | STATE STREET CORP | 2.2M | $86.7M | +13.4% | 3.537% | 0.00% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 1.6M | $61.0M | +9.9% | 2.485% | 0.00% |
| 8 | GOLDMAN SACHS GROUP INC | 1.1M | $44.0M | +22.4% | 1.796% | 0.01% |
| 9 | Nuveen, LLC | 1.0M | $40.4M | -1.4% | 1.647% | 0.01% |
| 10 | WELLINGTON MANAGEMENT GROUP LLP | 1.0M | $39.0M | +913.5% | 1.591% | 0.01% |
| 11 | VICTORY CAPITAL MANAGEMENT INC | 995K | $38.5M | +4.1% | 1.571% | 0.02% |
| 12 | SYSTEMATIC FINANCIAL MANAGEMENT LP | 862K | $33.4M | +10.8% | 1.361% | 0.77% |
| 13 | WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 790K | $30.6M | +3.4% | 1.247% | 0.10% |
| 14 | Bank of New York Mellon Corp | 760K | $29.4M | -0.6% | 1.200% | 0.01% |
| 15 | FIRST TRUST ADVISORS LP | 725K | $28.1M | +1.4% | 1.145% | 0.02% |
| 16 | CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 719K | $27.9M | +5.5% | 1.136% | 0.00% |
| 17 | FJ Capital Management LLC | 711K | $27.6M | +12.3% | 1.123% | 3.10% |
| 18 | PL Capital Advisors, LLC | 686K | $26.6M | 0.0% | 1.084% | 8.02% |
| 19 | NORTHERN TRUST CORP | 653K | $25.3M | +15.4% | 1.032% | 0.00% |
| 20 | Qube Research & Technologies Ltd | 650K | $25.2M | +3.6% | 1.027% | 0.03% |
| 21 | FIRST MERCHANTS CORP | 525K | $20.3M | -1.8% | 0.829% | 0.77% |
| 22 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 433K | $16.8M | -1.0% | 0.684% | 0.01% |
| 23 | TWO SIGMA INVESTMENTS, LP | 406K | $15.7M | +520.7% | 0.640% | 0.01% |
| 24 | AQR CAPITAL MANAGEMENT LLC | 405K | $15.7M | +6.2% | 0.639% | 0.01% |
| 25 | VANGUARD FIDUCIARY TRUST CO | 399K | $15.5M | — | 0.630% | 0.00% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). “% of Fund” shows how much of that investor’s total 13F portfolio is invested in FRME — a direct measure of their conviction.
Filings activity in FRME during Q1 2026, grouped by how each filer changed its position.
8 quarters of 13F filings · Δ columns show change vs prior quarter
| Quarter | Inst. Holders | Δ Holders | Ownership % | Δ Ownership | Total 13F Value | Δ Value |
|---|---|---|---|---|---|---|
| Q1 2026 | 292 | +5.0% | 64.43% | 47.39 pp | $1.72B | 42% |
| Q4 2025 | 278 | +0.7% | 111.82% | +50.56 pp | $2.98B | +83% |
| Q3 2025 | 276 | +0.7% | 61.26% | 0.43 pp | $1.63B | 0.7% |
| Q2 2025 | 274 | +3.0% | 61.69% | 3.45 pp | $1.64B | 5.3% |
| Q1 2025 | 266 | +6.4% | 65.14% | +3.27 pp | $1.74B | +5.3% |
| Q4 2024 | 250 | +4.6% | 61.87% | +4.33 pp | $1.65B | +7.5% |
| Q3 2024 | 239 | +5.8% | 57.54% | +6.28 pp | $1.53B | +12% |
| Q2 2024 | 226 | — | 51.26% | — | $1.37B | — |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Δ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying FRME stock.
Based on Q1 2026 13F filings, institutional ownership of First Merchants Corporation stands at 64.4%, held across 292 reporting institutions.
BlackRock, Inc. is the largest reported institutional holder of FRME, with approximately 4,899,356 shares worth $0.19B as of Q1 2026.
Yes — 1 widely-followed marquee investor appear among the top 25 institutional holders of FRME, including TWO SIGMA INVESTMENTS, LP.
Our composite Smart Money Score for FRME is 41 out of 100 (Neutral). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
54 institutions opened new positions in FRME during Q1 2026, while 40 fully exited. 185 added to existing positions and 51 trimmed.
FRME institutional ownership fell by 47.39 percentage points quarter-over-quarter, with a net change of +14 holders.
The top 10 institutions account for 53.8% of all reported 13F value in FRME, and the top 25 account for 75.7%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
First Merchants Corporation (FRME) Institutional Ownership