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Merchants Bancorp

178 hedge funds and large institutions have $1.97B invested in Merchants Bancorp in 2026 Q1 according to their latest regulatory filings, with 52 funds opening new positions, 56 increasing their positions, 46 reducing their positions, and 21 closing their positions.

New
Increased
Maintained
Reduced
Closed

300% more funds holding in top 10

Funds holding in top 10: 14 (+3)

260% more capital invested

Capital invested by funds: $548M → $1.97B (+$1.42B)

148% more first-time investments, than exits

New positions opened: 52 | Existing positions closed: 21

63.94% more ownership

Funds ownership: 35.07%99.01% (+64%)

22% more repeat investments, than reductions

Existing positions increased: 56 | Existing positions reduced: 46

19% more funds holding

Funds holding: 150178 (+28)

66% less call options, than puts

Call options by funds: $502K | Put options by funds: $1.5M

Holders
178
Holders Change
+28
Holders Change %
+18.67%
% of All Funds
2.19%
Holding in Top 10
4
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+300%
% of All Funds
0.05%
New
52
Increased
56
Reduced
46
Closed
21
Calls
$502K
Puts
$1.5M
Net Calls
-$996K
Net Calls Change
-$10K
Name Holding Trade Value Shares
Change
Change in
Stake
EFP
1
Elser Financial Planning
Indiana
$1.18B +$1.1B +26,983,101 New
BlackRock
2
BlackRock
New York
$174M +$88.4M +2,169,450 +115%
Dimensional Fund Advisors
3
Dimensional Fund Advisors
Texas
$75.5M +$4.16M +102,087 +6%
DPCM
4
Doma Perpetual Capital Management
Florida
$47.9M
NAMI
5
Nomura Asset Management International
Pennsylvania
$46.9M -$708K -17,379 -2%
State Street
6
State Street
Massachusetts
$44.5M +$18.8M +460,546 +80%
VCM
7
Vanguard Capital Management
Pennsylvania
$42.9M +$40.8M +1,000,776 New
American Century Companies
8
American Century Companies
Missouri
$31.9M +$2.74M +67,118 +10%
Geode Capital Management
9
Geode Capital Management
Massachusetts
$31.1M +$409K +10,041 +1%
RA
10
Royce & Associates
New York
$24.3M -$9.83M -241,047 -30%
VPM
11
Vanguard Portfolio Management
Pennsylvania
$19.9M +$18.9M +464,663 New
Hotchkis & Wiley Capital Management
12
Hotchkis & Wiley Capital Management
California
$13M -$3.61M -88,660 -23%
Morgan Stanley
13
Morgan Stanley
New York
$12.8M +$1.76M +43,281 +17%
Northern Trust
14
Northern Trust
Illinois
$12.3M +$1.26M +30,894 +12%
BFC
15
Banc Funds Company
Illinois
$12.1M +$1.49M +36,600 +15%
BCM
16
Basswood Capital Management
New York
$11.7M
Charles Schwab
17
Charles Schwab
California
$10.6M +$548K +13,445 +6%
Bank of New York Mellon
18
Bank of New York Mellon
New York
$10.1M +$2.93M +71,775 +44%
VFA
19
Valeo Financial Advisors
Indiana
$10.1M -$367K -9,008 -4%
Royal Bank of Canada
20
Royal Bank of Canada
Ontario, Canada
$9.13M +$281K +6,899 +3%
DA
21
Denali Advisors
California
$8.36M -$1.75M -42,904 -18%
VFT
22
Vanguard Fiduciary Trust
Pennsylvania
$7.8M +$7.41M +181,876 New
Invesco
23
Invesco
Georgia
$6.65M +$4.45M +109,249 +238%
Principal Financial Group
24
Principal Financial Group
Iowa
$6.12M +$5.81M +142,616 New
BAM
25
Ballast Asset Management
Texas
$5.86M +$134K +3,290 +2%

MBIN Hedge Fund Activity: Q1 2026 in Review

178 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Merchants Bancorp (MBIN) for Q1 2026, worth a combined $1.97B — up 260% from $548M a quarter earlier.

Buyers outnumbered sellers: 52 funds opened new MBIN positions and 21 closed out — a net gain of 31 holders — while 56 added to existing stakes and 46 trimmed.

The largest buyer was Elser Financial Planning, opening a new position worth an estimated $1.1B. The largest seller was Royce & Associates, cutting an estimated $9.83M.

  • 178 institutional investors held Merchants Bancorp (MBIN) as of Q1 2026, up from 150 in Q4 2025.
  • Funds reported $1.97B of Merchants Bancorp stock for Q1 2026, up 260% quarter-over-quarter.
  • 52 funds opened new Merchants Bancorp positions in Q1 2026 and 21 closed out, a net change of +31 holders.
  • The largest Merchants Bancorp buyer in Q1 2026 was Elser Financial Planning, an estimated $1.1B added.
  • The largest Merchants Bancorp seller in Q1 2026 was Royce & Associates, an estimated $9.83M sold.

Based on aggregated 13F filings for Q1 2026.