First Merchants
FRME
278 hedge funds and large institutions have $1.69B invested in First Merchants in 2025 Q2 according to their latest regulatory filings, with 38 funds opening new positions, 91 increasing their positions, 88 reducing their positions, and 27 closing their positions.
41% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 27
2% more funds holding
Funds holding: 272 → 278 (+6)
3% more repeat investments, than reductions
Existing positions increased: 91 | Existing positions reduced: 88
0.06% less ownership
Funds ownership: 75.84% → 75.78% (-0.06%)
6% less capital invested
Capital invested by funds: $1.8B → $1.69B (-$103M)
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
N
Nuveen
Charlotte,
North Carolina
|
+$11.5M |
| 2 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$6.1M |
| 3 |
EP
Edgestream Partners
Princeton,
New Jersey
|
+$5.9M |
| 4 |
Millennium Management
New York
|
+$2.91M |
| 5 |
IA
Inspire Advisors
Meridian,
Idaho
|
+$2.66M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
First Trust Advisors
Wheaton,
Illinois
|
-$11.7M |
| 2 |
BlackRock
New York
|
-$6.62M |
| 3 |
Schroder Investment Management Group
London,
United Kingdom
|
-$4.94M |
| 4 |
SEI Investments
Oaks,
Pennsylvania
|
-$3.75M |
| 5 |
OFS
OneAscent Financial Services
Birmingham,
Alabama
|
-$3.73M |
FRME Hedge Fund Activity: Q2 2025 in Review
278 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in First Merchants (FRME) for Q2 2025, worth a combined $1.69B — down 5.7% from $1.8B a quarter earlier.
Buyers outnumbered sellers: 38 funds opened new FRME positions and 27 closed out — a net gain of 11 holders — while 91 added to existing stakes and 88 trimmed.
The largest buyer was Nuveen, adding an estimated $11.5M. The largest seller was First Trust Advisors, cutting an estimated $11.7M.
- 278 institutional investors held First Merchants (FRME) as of Q2 2025, up from 272 in Q1 2025.
- Funds reported $1.69B of First Merchants stock for Q2 2025, down 5.7% quarter-over-quarter.
- 38 funds opened new First Merchants positions in Q2 2025 and 27 closed out, a net change of +11 holders.
- The largest First Merchants buyer in Q2 2025 was Nuveen, an estimated $11.5M added.
- The largest First Merchants seller in Q2 2025 was First Trust Advisors, an estimated $11.7M sold.
Based on aggregated 13F filings for Q2 2025.