First Merchants
FRME
211 hedge funds and large institutions have $1.42B invested in First Merchants in 2023 Q1 according to their latest regulatory filings, with 17 funds opening new positions, 85 increasing their positions, 59 reducing their positions, and 31 closing their positions.
44% more repeat investments, than reductions
Existing positions increased: 85 | Existing positions reduced: 59
4.69% more ownership
Funds ownership: 67.84% → 72.53% (+4.7%)
8% less funds holding
Funds holding: 229 → 211 (-18)
14% less capital invested
Capital invested by funds: $1.66B → $1.42B (-$237M)
45% less first-time investments, than exits
New positions opened: 17 | Existing positions closed: 31
80% less funds holding in top 10
Funds holding in top 10: 5 → 1 (-4)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EARNEST Partners
Atlanta,
Georgia
|
+$9.6M |
| 2 |
American Century Companies
Kansas City,
Missouri
|
+$4.83M |
| 3 |
State Street
Boston,
Massachusetts
|
+$4.82M |
| 4 |
FCM
FJ Capital Management
Mclean,
Virginia
|
+$3.73M |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$3.38M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PC
Pier Capital
Stamford,
Connecticut
|
-$9.9M |
| 2 |
CCMLC
Cardinal Capital Management LLC (Connecticut)
Greenwich,
Connecticut
|
-$6.44M |
| 3 |
Victory Capital Management
San Antonio,
Texas
|
-$5.28M |
| 4 |
DRZID
DePrince Race & Zollo Inc (DRZ)
Winter Park,
Florida
|
-$5.08M |
| 5 |
Russell Investments Group
London,
United Kingdom
|
-$4.45M |
FRME Hedge Fund Activity: Q1 2023 in Review
211 of the 6,283 institutional investors tracked by Wall St. Rank reported a position in First Merchants (FRME) for Q1 2023, worth a combined $1.42B — down 14% from $1.66B a quarter earlier.
Sellers outnumbered buyers: 31 funds closed out of FRME and 17 opened new positions — a net loss of 14 holders — while 59 trimmed existing stakes and 85 added.
The largest buyer was EARNEST Partners, adding an estimated $9.6M. The largest seller was Pier Capital, exiting entirely with an estimated $9.9M sold.
- 211 institutional investors held First Merchants (FRME) as of Q1 2023, down from 229 in Q4 2022.
- Funds reported $1.42B of First Merchants stock for Q1 2023, down 14% quarter-over-quarter.
- 17 funds opened new First Merchants positions in Q1 2023 and 31 closed out, a net change of -14 holders.
- The largest First Merchants buyer in Q1 2023 was EARNEST Partners, an estimated $9.6M added.
- The largest First Merchants seller in Q1 2023 was Pier Capital, an estimated $9.9M sold.
Based on aggregated 13F filings for Q1 2023.