Minerva Advisors’s First Merchants FRME Stock Holding History

Minerva Advisors’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	$1.03M	Hold	23,662	–	–	0.65%	27
2026 Q1	$916K	Buy	23,662 +13,787	+140%	+$538K	0.59%	28
2025 Q4	$370K	Hold	9,875	–	–	0.25%	53
2025 Q3	$372K	Hold	9,875	–	–	0.24%	51
2025 Q2	$378K	Hold	9,875	–	–	0.25%	49
2025 Q1	$399K	Hold	9,875	–	–	0.28%	45
2024 Q4	$394K	Hold	9,875	–	–	0.23%	49
2024 Q3	$367K	Hold	9,875	–	–	0.21%	50
2024 Q2	$329K	Hold	9,875	–	–	0.22%	49
2024 Q1	$344K	Hold	9,875	–	–	0.21%	49
2023 Q4	$366K	Hold	9,875	–	–	0.23%	47
2023 Q3	$274K	Hold	9,875	–	–	0.19%	52
2023 Q2	$278K	Hold	9,875	–	–	0.19%	54
2023 Q1	$325K	Hold	9,875	–	–	0.23%	50
2022 Q4	$406K	Hold	9,875	–	–	0.3%	49
2022 Q3	$382K	Hold	9,875	–	–	0.29%	50
2022 Q2	$352K	Hold	9,875	–	–	0.25%	52
2022 Q1	$411K	Hold	9,875	–	–	0.27%	53
2021 Q4	$413K	Hold	9,875	–	–	0.25%	57
2021 Q3	$413K	Hold	9,875	–	–	0.24%	55
2021 Q2	$411K	Hold	9,875	–	–	0.22%	57
2021 Q1	$460K	Hold	9,875	–	–	0.25%	54
2020 Q4	$369K	Sell	9,875 -2,085	-17%	-$64.7K	0.2%	60
2020 Q3	$277K	Hold	11,960	–	–	0.19%	63
2020 Q2	$329K	Hold	11,960	–	–	0.22%	58
2020 Q1	$317K	Hold	11,960	–	–	0.25%	57
2019 Q4	$497K	Hold	11,960	–	–	0.26%	54
2019 Q3	$450K	Hold	11,960	–	–	0.25%	58
2019 Q2	$453K	Hold	11,960	–	–	0.25%	58
2019 Q1	$441K	Hold	11,960	–	–	0.25%	59
2018 Q4	$409K	Hold	11,960	–	–	0.26%	57
2018 Q3	$538K	Hold	11,960	–	–	0.28%	53
2018 Q2	$554K	Hold	11,960	–	–	0.28%	50
2018 Q1	$499K	Hold	11,960	–	–	0.26%	52
2017 Q4	$503K	Hold	11,960	–	–	0.27%	53
2017 Q3	$514K	Hold	11,960	–	–	0.27%	50
2017 Q2	$480K	Hold	11,960	–	–	0.27%	53
2017 Q1	$470K	Hold	11,960	–	–	0.25%	56
2016 Q4	$450K	Hold	11,960	–	–	0.26%	56
2016 Q3	$319K	Hold	11,960	–	–	0.2%	60
2016 Q2	$298K	Hold	11,960	–	–	0.2%	59
2016 Q1	$282K	Hold	11,960	–	–	0.19%	58
2015 Q4	$304K	Hold	11,960	–	–	0.2%	61
2015 Q3	$313K	Hold	11,960	–	–	0.22%	62
2015 Q2	$296K	Hold	11,960	–	–	0.18%	61
2015 Q1	$281K	Hold	11,960	–	–	0.16%	59
2014 Q4	$273K	Hold	11,960	–	–	0.15%	61
2014 Q3	$241K	Hold	11,960	–	–	0.15%	63
2014 Q2	$252K	Hold	11,960	–	–	0.14%	64
2014 Q1	$258K	Buy	+11,960	New	+$254K	0.15%	64

Other funds holding FRME

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $552B AUM 44.19% 1-Year Est. Return

Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM

State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return

EARNEST Partners Atlanta, Georgia $27.7B AUM 52.44% 1-Year Est. Return

Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Nuveen Charlotte, North Carolina $419B AUM 43.02% 1-Year Est. Return

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

Minerva Advisors's FRME Position: Q2 2026 in Review

Minerva Advisors held its First Merchants (FRME) position steady in Q2 2026 at 23,662 shares worth $1.03M. The position accounts for 0.65% of the portfolio, ranked #27.

Minerva Advisors first reported a position in FRME in Q1 2014 and has held it in 50 quarters since. 307 funds tracked by Wall St. Rank hold FRME as of Q2 2026.

Minerva Advisors held 23,662 shares of First Merchants worth $1.03M as of Q2 2026.
Minerva Advisors left its First Merchants share count unchanged in Q2 2026.
First Merchants made up 0.65% of Minerva Advisors's portfolio in Q2 2026, its #27 holding.
Minerva Advisors first reported a position in First Merchants in Q1 2014 and has held it in 50 quarters since.
307 funds tracked by Wall St. Rank held First Merchants as of Q2 2026.

Based on Minerva Advisors's 13F filing for Q2 2026, filed 12 Aug 2026.