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Dark Forest Capital Management’s First Merchants FRME Stock Holding History

Dark Forest Capital Management’s Portfolio FRME Stock Details FRME Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q2 		$3.15M Sell
72,174
-15,642
-18% -$635K 0.2% 148
2026
Q1 		$3.4M Sell
87,816
-7,060
-7% -$276K 0.3% 70
2025
Q4 		$3.56M Buy
94,876
+20,705
+28% +$767K 0.16% 180
2025
Q3 		$2.8M Sell
74,171
-38,869
-34% -$1.55M 0.11% 329
2025
Q2 		$4.33M Sell
113,040
-27,398
-20% -$1.01M 0.17% 144
2025
Q1 		$5.68M Buy
140,438
+104,002
+285% +$4.33M 0.26% 46
2024
Q4 		$1.45M Buy
+36,436
New +$1.47M 0.21% 84
2024
Q3 		– Sell
-17,414
Closed -$580K – 1029
2024
Q2 		$580K Buy
17,414
+260
+2% +$8.69K 0.11% 227
2024
Q1 		$599K Buy
17,154
+6,112
+55% +$210K 0.1% 222
2023
Q4 		$409K Buy
+11,042
New +$342K 0.06% 275
2023
Q3 		– Sell
-10,106
Closed -$285K – 1156
2023
Q2 		$285K Buy
10,106
+9,033
+842% +$256K 0.03% 823
2023
Q1 		$35.4K Buy
1,073
+158
+17% +$6.26K 0.01% 898
2022
Q4 		$37.6K Sell
915
-435
-32% -$18.4K 0.01% 442
2022
Q3 		$52K Sell
1,350
-534
-28% -$21.2K 0.01% 515
2022
Q2 		$67K Sell
1,884
-722
-28% -$28.4K 0.01% 396
2022
Q1 		$108K Buy
+2,606
New +$113K 0.03% 484

Other funds holding FRME

BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Dimensional Fund Advisors
Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return
Vanguard Portfolio Management
Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM
Vanguard Capital Management
Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
EARNEST Partners
EARNEST Partners Atlanta, Georgia $27.7B AUM 52.44% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return
Nuveen
Nuveen Charlotte, North Carolina $419B AUM 43.02% 1-Year Est. Return
Victory Capital Management
Victory Capital Management San Antonio, Texas $178B AUM 37.23% 1-Year Est. Return
SFM
Systematic Financial Management Teaneck, New Jersey $5.02B AUM 66.06% 1-Year Est. Return

Dark Forest Capital Management's FRME Position: Q2 2026 in Review

Dark Forest Capital Management reduced its First Merchants (FRME) stake by 18% in Q2 2026, selling an estimated $635K and leaving 72,174 shares worth $3.15M. The position accounts for 0.2% of the portfolio, ranked #148.

Dark Forest Capital Management first reported a position in FRME in Q1 2022 and has held it in 16 quarters since. The position peaked at $5.68M in Q1 2025. 307 funds tracked by Wall St. Rank hold FRME as of Q2 2026.

  • Dark Forest Capital Management held 72,174 shares of First Merchants worth $3.15M as of Q2 2026.
  • Dark Forest Capital Management sold 15,642 First Merchants shares in Q2 2026, an estimated $635K.
  • First Merchants made up 0.2% of Dark Forest Capital Management's portfolio in Q2 2026, its #148 holding.
  • Dark Forest Capital Management first reported a position in First Merchants in Q1 2022 and has held it in 16 quarters since.
  • Dark Forest Capital Management's First Merchants position peaked at $5.68M in Q1 2025.
  • 307 funds tracked by Wall St. Rank held First Merchants as of Q2 2026.

Based on Dark Forest Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.