FIRST MERCHANTS CORP
CIK 712534 · View on SEC EDGAR ↗
- Portfolio value
- $1.6B
- Positions
- 361
- As of
- June 30, 2026
#1,748 of 9,443 by 13F value · top 18.5%
Portfolio value QoQ: +326.3% 13F does not disclose cash
- Top 10 holdings weight
- 38.67%
- Top 25 holdings weight
- 62.22%
- Positions above 1%
- 25
- Effective number of positions
- 37.2
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 2.02% Est. buys $1,244,537,984 · sells $20,468,208
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 78.1% still held
- New positions
- 15
- Increased
- 104
- Decreased
- 113
- Closed
- 9
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
10.3%
Industrials
4.8%
Healthcare
4.7%
Retail
4.4%
Financials
2.4%
Financial Services
1.1%
Materials
1.1%
Communication Services
0.9%
Consumer Staples
0.8%
Consumer products
0.7%
Energy
0.7%
Utilities
0.6%
Consumer Discretionary
0.5%
Communications
0.4%
Packaging
0.3%
Telecommunication
0.0%
Real Estate
0.0%
Other/Unmapped
66.2%
Full portfolio 361 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| Unknown issuer (CUSIP: 100001999) | $175,297,417 | 10.69% | 175,297,426 | $173,998,610 | Up ×1 | ||
| Unknown issuer (CUSIP: 31420B862) | $98,253,648 | 5.99% | 9,737,726 | $96,264,934 | Up ×6 | ||
| Unknown issuer (CUSIP: 922908645) | $67,795,611 | 4.13% | 169,860 | $66,734,990 | Up ×2 | ||
| AAPL Apple Inc. - Common Stock | $55,911,297 | 3.41% | 193,224 | $54,978,619 | Up ×1 | ||
| LRCX Lam Research Corporation - Common Stock | $43,825,263 | 2.67% | 101,136 | $43,554,769 | Up ×1 | ||
| VOO | $42,342,523 | 2.58% | 61,651 | $41,685,218 | Up ×1 | ||
| Unknown issuer (CUSIP: 316071109) | $39,768,594 | 2.43% | 1,483,920 | $39,236,980 | Up ×1 | ||
| IYW | $39,302,226 | 2.40% | 155,819 | $38,128,983 | Up ×1 | ||
| Unknown issuer (CUSIP: 921921300) | $38,924,178 | 2.37% | 391,737 | $37,738,045 | Up ×2 | ||
| APH Amphenol Corporation Common Stock | $32,622,903 | 1.99% | 185,021 | $32,459,027 | Up ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $32,471,406 | 1.98% | 162,284 | $32,376,358 | Up ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $32,102,730 | 1.96% | 134,693 | $32,019,630 | Up ×1 | ||
| LLY Eli Lilly and Company Common Stock | $30,691,015 | 1.87% | 25,588 | $7,139,384 | Down ×1 | ||
| Unknown issuer (CUSIP: 47103C795) | $29,778,548 | 1.82% | 190,672 | $29,424,052 | Up ×1 | ||
| IJR | $29,528,224 | 1.80% | 199,098 | $28,709,145 | Up ×1 | ||
| JPM JP Morgan Chase & Co. Common Stock | $28,256,435 | 1.72% | 86,324 | $28,109,355 | Up ×1 | ||
| Unknown issuer (CUSIP: 921937702) | $28,043,047 | 1.71% | 2,752,018 | $-2,838,294 | Down ×1 | ||
| Unknown issuer (CUSIP: 00770X675) | $27,761,723 | 1.69% | 1,685,606 | $27,551,346 | Up ×4 | ||
| Unknown issuer (CUSIP: 921910501) | $27,444,707 | 1.67% | 227,442 | $27,060,478 | Up ×2 | ||
| Unknown issuer (CUSIP: 55273W475) | $26,223,976 | 1.60% | 742,471 | $25,925,944 | Up ×1 | ||
| BIV | $21,720,903 | 1.32% | 283,193 | $21,049,977 | Up ×1 | ||
| SYK Stryker Corporation Common Stock | $19,174,701 | 1.17% | 60,903 | $19,049,508 | Up ×1 | ||
| IEFA | $18,022,311 | 1.10% | 186,605 | $17,445,092 | Up ×1 | ||
| Unknown issuer (CUSIP: 46141P834) | $17,846,059 | 1.09% | 720,453 | $17,700,715 | Up ×4 | ||
| Unknown issuer (CUSIP: 922908660) | $17,133,453 | 1.04% | 64,288 | $16,736,367 | Up ×1 | ||
| TJX TJX Companies, Inc. (The) Common Stock | $15,377,099 | 0.94% | 101,499 | $15,182,744 | Up ×1 | ||
| Unknown issuer (CUSIP: 921937603) | $15,358,045 | 0.94% | 1,591,509 | $-1,131,849 | Down ×1 | ||
| FTNT Fortinet, Inc. - Common Stock | $14,991,622 | 0.91% | 97,589 | $14,970,783 | Up ×1 | ||
| ABBV AbbVie Inc. Common Stock | $14,866,388 | 0.91% | 59,078 | $14,843,334 | Up ×1 | ||
| IJK | $13,651,738 | 0.83% | 116,185 | $13,405,420 | Up ×1 | ||
| LOW Lowe's Companies, Inc. Common Stock | $13,560,355 | 0.83% | 61,501 | $13,442,688 | Up ×1 | ||
| XLK XLK | $13,023,947 | 0.79% | 68,360 | $13,014,378 | Up ×1 | ||
| Unknown issuer (CUSIP: 256210105) | $12,493,469 | 0.76% | 985,294 | $-2,103,267 | Down ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $12,284,228 | 0.75% | 21,808 | $12,140,051 | Up ×1 | ||
| SCHW Charles Schwab Corporation (The) Common Stock | $11,501,825 | 0.70% | 124,654 | $11,461,508 | Up ×1 | ||
| CAT Caterpillar, Inc. Common Stock | $10,994,028 | 0.67% | 10,324 | $3,895,967 | Up ×1 | ||
| Unknown issuer (CUSIP: 922908678) | $10,918,686 | 0.67% | 128,381 | $347,824 | Down ×6 | ||
| PG Procter & Gamble Company (The) Common Stock | $10,815,726 | 0.66% | 73,757 | $10,706,240 | Up ×1 | ||
| Unknown issuer (CUSIP: 35351410X) | $10,719,000 | 0.65% | 100,000 | $1,502,000 | |||
| CMI Cummins Inc. Common Stock | $10,346,537 | 0.63% | 14,507 | $10,265,834 | Up ×1 | ||
| VONV Vanguard Russell 1000 Value ETF | $10,322,701 | 0.63% | 97,100 | $1,220,547 | |||
| SGOV iShares 0-3 Month Treasury Bond ETF | $10,317,064 | 0.63% | 102,484 | $1,025 | |||
| Unknown issuer (CUSIP: 372005991) | $10,174,223 | 0.62% | 8,340 | $0 | |||
| LIN Linde plc - Ordinary Shares | $9,928,360 | 0.61% | 19,132 | $9,902,580 | Up ×1 | ||
| IWP | $9,664,524 | 0.59% | 66,010 | $9,361,264 | Up ×1 | ||
| SPY SPY | $8,518,405 | 0.52% | 11,407 | $4,876,501 | Up ×1 | ||
| HD Home Depot, Inc. (The) Common Stock | $8,347,583 | 0.51% | 23,669 | $8,278,516 | Up ×2 | ||
| IWR | $7,512,682 | 0.46% | 68,099 | $847,565 | Down ×1 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $7,375,901 | 0.45% | 62,795 | $7,228,480 | Up ×1 | ||
| RTX RTX Corporation Common Stock | $7,234,215 | 0.44% | 38,129 | $7,163,614 | Up ×1 | ||
| MCD McDonald's Corporation Common Stock | $6,871,821 | 0.42% | 25,422 | $6,785,111 | Up ×1 | ||
| PEP PepsiCo, Inc. - Common Stock | $6,786,383 | 0.41% | 50,121 | $6,733,895 | Up ×1 | ||
| Unknown issuer (CUSIP: 92204A793) | $6,744,567 | 0.41% | 13,773 | $1,272,225 | Down ×6 | ||
| BAESY | $6,519,686 | 0.40% | 66,597 | $6,474,660 | Up ×1 | ||
| XLY XLY | $6,404,895 | 0.39% | 54,612 | $6,281,312 | Up ×1 | ||
| VO | $6,152,245 | 0.38% | 76,359 | $705,876 | Up ×1 | ||
| IWS | $6,054,153 | 0.37% | 36,781 | $5,973,705 | Up ×1 | ||
| CFR Cullen/Frost Bankers, Inc. Common Stock | $6,012,064 | 0.37% | 38,908 | $5,963,812 | Up ×1 | ||
| CVX Chevron Corporation Common Stock | $5,831,271 | 0.36% | 35,179 | $-1,243,054 | Up ×1 | ||
| ECL Ecolab Inc. Common Stock | $5,773,635 | 0.35% | 20,723 | $5,740,649 | Up ×1 | ||
| VB | $5,571,042 | 0.34% | 18,379 | $914,366 | Up ×1 | ||
| LHX L3Harris Technologies, Inc. Common Stock | $5,244,568 | 0.32% | 18,048 | $5,141,023 | Up ×1 | ||
| ACN Accenture plc Class A Ordinary Shares (Ireland) | $5,162,269 | 0.31% | 41,484 | $5,112,696 | Up ×2 | ||
| IJH | $4,770,950 | 0.29% | 61,872 | $4,393,457 | Up ×1 | ||
| SNPS Synopsys, Inc. - Common Stock | $4,679,274 | 0.29% | 10,490 | $4,648,745 | Up ×1 | ||
| CEG Constellation Energy Corporation - Common Stock When-Issued | $4,650,977 | 0.28% | 18,726 | $4,494,038 | Up ×1 | ||
| Unknown issuer (CUSIP: CDMASOLLC) | $4,573,333 | 0.28% | 40 | $0 | |||
| XLI XLI | $4,420,884 | 0.27% | 23,867 | $570,093 | Up ×1 | ||
| Unknown issuer (CUSIP: 30254T643) | $4,410,153 | 0.27% | 444,123 | $49,403 | Up ×1 | ||
| BALL Ball Corporation Common Stock | $4,344,413 | 0.26% | 69,622 | $135,249 | Down ×2 | ||
| IWM | $4,307,552 | 0.26% | 14,337 | $561,264 | Down ×1 | ||
| Unknown issuer (CUSIP: 256206103) | $3,934,259 | 0.24% | 210,842 | $3,929,702 | Up ×1 | ||
| Unknown issuer (CUSIP: 922907803) | $3,807,857 | 0.23% | 239,941 | $108,717 | Up ×6 | ||
| Unknown issuer (CUSIP: 38141W273) | $3,588,437 | 0.22% | 3,588,438 | $3,157,931 | Up ×1 | ||
| NEE NextEra Energy, Inc. Common Stock | $3,587,248 | 0.22% | 40,871 | $3,333,221 | Up ×1 | ||
| ABT Abbott Laboratories Common Stock | $3,565,901 | 0.22% | 39,298 | $3,473,498 | Up ×1 | ||
| Unknown issuer (CUSIP: 31635V216) | $3,544,787 | 0.22% | 345,834 | $3,483,980 | Up ×1 | ||
| AMP Ameriprise Financial, Inc. Common Stock | $3,446,205 | 0.21% | 7,513 | $16,326 | Down ×2 | ||
| PM Philip Morris International Inc Common Stock | $3,341,950 | 0.20% | 18,473 | $287,624 | |||
| Unknown issuer (CUSIP: 922018304) | $3,213,248 | 0.20% | 36,390 | $3,186,070 | Up ×1 | ||
| XLE XLE | $3,206,888 | 0.20% | 60,382 | $3,037,810 | Up ×1 | ||
| Unknown issuer (CUSIP: 921943403) | $3,169,839 | 0.19% | 26,158 | $216,943 | Down ×4 | ||
| UNP Union Pacific Corporation Common Stock | $3,163,904 | 0.19% | 11,632 | $2,285,620 | Up ×1 | ||
| INTC Intel Corporation - Common Stock | $3,158,989 | 0.19% | 22,624 | $2,515,397 | Up ×1 | ||
| Unknown issuer (CUSIP: 922908579) | $3,141,561 | 0.19% | 18,077 | $299,870 | Down ×6 | ||
| Unknown issuer (CUSIP: 0100QUICK) | $3,120,000 | 0.19% | 100 | $0 | |||
| Unknown issuer (CUSIP: 233203819) | $3,114,459 | 0.19% | 51,251 | $41,797 | Down ×5 | ||
| AMGN Amgen Inc. - Common Stock | $3,085,625 | 0.19% | 8,521 | $-35,988 | Down ×2 | ||
| Unknown issuer (CUSIP: 31635V257) | $2,770,305 | 0.17% | 286,189 | $-371,135 | Down ×2 | ||
| CASY Caseys General Stores, Inc. - Common Stock | $2,682,416 | 0.16% | 3,375 | $149,463 | Down ×1 | ||
| Unknown issuer (CUSIP: RECORD68A) | $2,666,000 | 0.16% | 1 | $0 | |||
| VLO Valero Energy Corporation Common Stock | $2,599,712 | 0.16% | 9,982 | $302,609 | Up ×1 | ||
| Unknown issuer (CUSIP: 233203421) | $2,587,362 | 0.16% | 73,801 | $287,245 | Down ×1 | ||
| XLU XLU | $2,504,808 | 0.15% | 55,245 | $2,431,384 | Up ×1 | ||
| VYM | $2,462,423 | 0.15% | 15,582 | $138,142 | Down ×2 | ||
| IVV | $2,451,117 | 0.15% | 3,273 | $294,218 | Down ×2 | ||
| DE Deere & Company Common Stock | $2,351,461 | 0.14% | 3,707 | $249,225 | Down ×6 | ||
| BRKA | $2,246,550 | 0.14% | 3 | $92,130 | |||
| IJS | $2,206,289 | 0.13% | 16,142 | $2,094,472 | Up ×1 | ||
| Unknown issuer (CUSIP: 921943809) | $2,202,070 | 0.13% | 96,077 | $197,110 | Down ×6 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| None | $98,253,648 | 5.99% | up ×6 |
| None | $27,761,723 | 1.69% | up ×4 |
| None | $17,846,059 | 1.09% | up ×4 |
| None | $3,807,857 | 0.23% | up ×6 |
| None | $1,390,811 | 0.08% | up ×4 |
| VEA | $1,375,054 | 0.08% | up ×3 |
| None | $803,872 | 0.05% | up ×5 |
| VTI | $502,144 | 0.03% | up ×3 |
| VGT | $80,317 | 0.00% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| AMD | $565,225 | 973 | 0.03% |
| MRVL | $357,468 | 1,200 | 0.02% |
| AMAT | $318,843 | 441 | 0.02% |
| TWLO | $309,495 | 1,500 | 0.02% |
| KLAC | $289,642 | 960 | 0.02% |
| NSRGY | $278,084 | 2,700 | 0.02% |
| PWR | $233,293 | 324 | 0.01% |
| ITOT | $228,171 | 1,389 | 0.01% |
| KEY | $228,057 | 9,894 | 0.01% |
| Unknown issuer (CUSIP: 54401E473) | $220,656 | 22,044 | 0.01% |
| Unknown issuer (CUSIP: 921913208) | $210,526 | 1,763 | 0.01% |
| GEV | $206,775 | 176 | 0.01% |
| WELL | $204,273 | 900 | 0.01% |
| USB | $200,951 | 3,327 | 0.01% |
| IYJ | $99,990 | 600 | 0.01% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| LLY | Trimmed | -18 | +$7.1M |
39 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| IWD | Sept. 30, 2025 | 23,935 | $4,648,895 | No longer tracked |
| NTRA | March 31, 2025 | 8,271 | $1,309,299 | 122.9% |
| TROW | Sept. 30, 2025 | 9,810 | $946,665 | 9.4% |
| PCT | March 31, 2025 | 92,070 | $943,718 | 1.3% |
| TY | Dec. 31, 2025 | 27,607 | $938,638 | 9.5% |
| ALC | March 31, 2026 | 11,653 | $918,373 | -1.5% |
| BKNG | March 31, 2026 | 138 | $739,036 | 27.6% |
| PNC | March 31, 2025 | 3,746 | $722,416 | 44.5% |
| MRVL | March 31, 2025 | 5,922 | $654,085 | 277.6% |
| SHW | March 31, 2026 | 1,984 | $642,876 | 10.6% |
| MDLZ | March 31, 2026 | 11,616 | $625,289 | 10.8% |
| AMAT | March 31, 2026 | 1,941 | $498,818 | 44.7% |
| TPR | March 31, 2025 | 7,530 | $491,935 | 89.7% |
| GE | June 30, 2025 | 2,457 | $491,769 | 42.0% |
| EMB | June 30, 2025 | 5,116 | $463,458 | |
| IAU | June 30, 2025 | 7,830 | $461,657 | No longer tracked |
| TFCPRO | June 30, 2025 | 21,420 | $455,603 | No longer tracked |
| WFC | March 31, 2025 | 6,114 | $429,447 | 21.4% |
| MET | March 31, 2025 | 5,022 | $411,201 | 20.5% |
| PINS | March 31, 2025 | 13,893 | $402,897 | -25.0% |
| NET | March 31, 2025 | 3,648 | $392,817 | 157.2% |
| FNF | March 31, 2025 | 6,790 | $381,191 | -21.9% |
| UBER | March 31, 2025 | 5,610 | $338,395 | 4.3% |
| BNDX | Sept. 30, 2025 | 6,781 | $335,727 | |
| T | June 30, 2026 | 11,271 | $326,746 | 22.3% |
| SHOP | March 31, 2025 | 3,030 | $322,180 | 55.3% |
| CLX | March 31, 2025 | 1,908 | $309,878 | -26.7% |
| PAYX | June 30, 2025 | 2,003 | $309,023 | -15.5% |
| PFF | March 31, 2026 | 9,705 | $300,467 | |
| MELI | March 31, 2025 | 174 | $295,877 | -6.8% |
| FDL | June 30, 2025 | 6,714 | $291,656 | No longer tracked |
| USB | June 30, 2025 | 6,829 | $288,320 | 42.5% |
| ANET | March 31, 2025 | 2,520 | $278,536 | 143.6% |
| D | June 30, 2025 | 4,958 | $277,995 | 22.0% |
| MMM | March 31, 2025 | 2,079 | $268,378 | 24.8% |
| AMD | March 31, 2026 | 1,199 | $256,778 | 128.2% |
| IYC | March 31, 2025 | 2,659 | $255,636 | No longer tracked |
| NKE | Sept. 30, 2025 | 3,547 | $251,979 | -41.3% |
| POOL | Dec. 31, 2025 | 803 | $248,986 | -14.7% |
| BMY | June 30, 2025 | 4,050 | $247,010 | 46.9% |
| JPMPRL | June 30, 2025 | 12,160 | $243,808 | No longer tracked |
| IBM | June 30, 2025 | 975 | $242,444 | -20.3% |
| SCHO | March 31, 2025 | 10,000 | $240,600 | No longer tracked |
| SLV | June 30, 2026 | 3,509 | $239,103 | No longer tracked |
| DUK | March 31, 2025 | 2,208 | $237,890 | 2.2% |
| DOW | June 30, 2026 | 5,625 | $234,281 | 16.8% |
| LNC | March 31, 2025 | 7,374 | $233,830 | 24.4% |
| SNOW | March 31, 2026 | 1,056 | $231,644 | 111.8% |
| PFF | Sept. 30, 2025 | 7,444 | $228,382 | |
| AEP | June 30, 2026 | 1,733 | $227,162 | -7.4% |
| LKFN | Dec. 31, 2025 | 3,500 | $224,700 | 7.8% |
| LYB | March 31, 2025 | 2,997 | $222,587 | -4.4% |
| EW | Sept. 30, 2025 | 2,840 | $222,116 | 18.9% |
| ED | March 31, 2025 | 2,475 | $220,844 | -1.0% |
| CRM | June 30, 2026 | 1,154 | $215,417 | 28.8% |
| GIS | March 31, 2025 | 3,370 | $214,905 | -34.2% |
| SITE | June 30, 2026 | 1,607 | $213,908 | -14.2% |
| TWLO | March 31, 2026 | 1,500 | $213,360 | 79.8% |
| KMB | Dec. 31, 2025 | 1,696 | $210,881 | 8.2% |
| HUBB | March 31, 2025 | 500 | $209,445 | 44.2% |
| PSAPRL | June 30, 2025 | 11,000 | $209,110 | No longer tracked |
| APD | June 30, 2025 | 707 | $208,508 | 8.0% |
| CIEN | March 31, 2025 | 2,445 | $207,360 | 555.7% |
| ITOT | March 31, 2026 | 1,389 | $206,530 | No longer tracked |
| GPC | Dec. 31, 2025 | 1,479 | $204,989 | 9.5% |
| KEY | March 31, 2026 | 9,894 | $204,212 | 13.3% |
| KHC | June 30, 2025 | 6,683 | $203,364 | -1.6% |
| VUG | March 31, 2026 | 416 | $202,950 | No longer tracked |
| AZO | June 30, 2026 | 60 | $202,667 | -1.8% |
| VRTX | March 31, 2025 | 402 | $161,885 | 11.5% |
| VCSH | Dec. 31, 2025 | 2,000 | $159,860 | |
| ISRG | March 31, 2025 | 279 | $145,627 | -18.7% |
| NWBI | Dec. 31, 2025 | 10,080 | $124,891 | 29.8% |
| HON | June 30, 2026 | 376 | $84,987 | 0.8% |
| CTOS | June 30, 2025 | 20,000 | $84,400 | 97.2% |
| AZN | March 31, 2026 | 325 | $29,877 | -16.4% |
| ANSS | Sept. 30, 2025 | 63 | $22,127 | No longer tracked |
| ZTS | June 30, 2026 | 59 | $6,974 | 7.2% |