FM
First Merchants CORP: 13F Stock Holdings & Portfolio (Q3 2026)
First Merchants CORPCIK: 0000712534
Diversified strategyMomentum followerLong-term holder
Total reported value
$3.0B
Reporting period: 2026-09-30 · Number of holdings: 497
FIRST MERCHANTS CORP disclosed 497 holdings in its latest 13F filing for the period ending 2026-09-30, with total reported value of $3.0B and a quarterly turnover rate of 15.9%.
Browse other institutions with $1B to $10B AUMBrowse other institutions starting with "F"
Personality snowflake
- Concentration
- 12.99
- Portfolio Stability
- 15.95
- Momentum
- 100
- Sector conviction
- 58.26
- Diversification
- 100
- Sizing Uniformity
- 67.2
First Merchants CORP's disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 equally-sized positions, well below its 497 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.28), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 30% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd 100001999
+153.4% $270.4M
Trim LRCX
-1.3% -$11.2M
Add MSFT
+1.2% $15.0M
Trim GOOGL
-3.7% -$4.7M
Trim VFIAX
-1.4% $823.5K
Trim VIMAX
-3.8% -$4.4M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 497 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Fmpw Inst Money | Stock-Other | 14.67% | +8.46% | +153.37% | |
| 2 | VFIAX | Vanguard 500 Index-adm | Stock-Other | 4.74% | -0.31% | -1.43% | |
| 3 | SRBRX | Federated Shrt-intrm Ttl-r6 | Stock-Other | 3.33% | -0.20% | +3.38% | |
| 4 | FTRLX | Fed Herm Ttl Rtrn Bnd-r6 | Stock-Other | 3.09% | -0.23% | +4.40% | |
| 5 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 2.23% | -0.16% | +2.08% | |
| 6 | VIMAX | Vanguard Mid Cap Index-adm | Stock-Other | 2.12% | -0.30% | -3.78% | |
| 7 | AAPL | Apple Inc | Stock-Tech | 2.09% | +0.09% | -2.80% | |
| 8 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.02% | -0.11% | +5.33% | |
| 9 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.95% | -0.31% | -3.74% | |
| 10 | SFNNX | Schwab Fndmnl Intl Lrg Comp | Stock-Other | 1.76% | -0.22% | -6.48% | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 1.75% | +0.40% | +1.22% | |
| 12 | AVGO | Broadcom Inc | Stock-Tech | 1.47% | -0.29% | -3.62% | |
| 13 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.44% | -0.08% | +0.22% | |
| 14 | IYW | Ishares Ustechnology ETF | ETF-Tech | 1.39% | -0.05% | -0.94% | |
| 15 | FCNTX | Fidelity Contrafund | Stock-Other | 1.38% | -0.04% | +0.94% | |
| 16 | VEIRX | Vanguard Equity Income-adm | Stock-Other | 1.33% | -0.08% | +1.52% | |
| 17 | VGT | Vanguard Info Tech ETF | ETF-Tech | 1.32% | -0.08% | -3.60% | |
| 18 | IVW | Ishares S&p 500 Growth ETF | ETF-Large Cap & Growth | 1.21% | -0.03% | +0.56% | |
| 19 | NVDA | Nvidia CORP | Stock-Tech | 1.18% | +0.03% | -2.88% | |
| 20 | NUSFX | Northern Ultra-shrt Fix Inc | Stock-Other | 1.16% | -0.09% | -0.31% | |
| 21 | LRCX | Lam Research CORP | Stock-Tech | 1.09% | -0.47% | -1.28% | |
| 22 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.07% | -0.06% | -3.31% | |
| 23 | APH | Amphenol Corp-cl A | Stock-Tech | 0.99% | -0.17% | +92.10% | |
| 24 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 0.96% | -0.10% | +1.25% | |
| 25 | PZIEX | Pzena Emerg Mkts Val-inst | Stock-Other | 0.95% | -0.03% | -0.46% | |
| 26 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.92% | -0.08% | -2.71% | |
| 27 | VBIRX | Vanguard S/t Bnd Indx-adm | Stock-Other | 0.90% | -0.09% | +0.21% | |
| 28 | JMGRX | Janus Hndrsn Enterprise-i | Stock-Other | 0.90% | -0.16% | -3.38% | |
| 29 | VWILX | Vanguard Intl Growth-adm | Stock-Other | 0.89% | -0.09% | -2.72% | |
| 30 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 0.88% | -0.19% | -3.69% | |
| 31 | MVCKX | Mfs Mid Cap Value Fund-r5 | Stock-Other | 0.81% | -0.12% | -3.38% | |
| 32 | V | Visa Inc-class A Shares | Stock-Financials | 0.78% | -0.05% | -4.10% | |
| 33 | VSMAX | Vanguard Sml Cap Indx-adm | Stock-Other | 0.78% | -0.16% | -4.78% | |
| 34 | AVUV | Avantis US Small Cap Value | ETF-Small Cap | 0.77% | -0.10% | +0.03% | |
| 35 | BIV | Vanguard Intermediate-term B | ETF-Other | 0.72% | -0.07% | +3.48% | |
| 36 | IVE | Ishares S&p 500 Value ETF | ETF-Large Cap & Growth | 0.68% | -0.03% | +1.39% | |
| 37 | FRME | First Merchants CORP | Stock-Other | 0.67% | -0.13% | -1.17% | |
| 38 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.66% | — | +6.72% | |
| 39 | MFAIX | Msif International Adv-i | Stock-Other | 0.64% | -0.09% | +0.12% | |
| 40 | VWIUX | Vanguard I/t Tax Exmpt-adm | Stock-Other | 0.64% | -0.14% | -6.72% | |
| 41 | VIGAX | Vanguard Growth Index-adm | Stock-Other | 0.60% | -0.02% | -1.14% | |
| 42 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.60% | +0.16% | +13.72% | |
| 43 | WCMEX | Wcm Focus Emrg Mrkt-inst | Stock-Other | 0.55% | -0.08% | -4.86% | |
| 44 | SYK | Stryker CORP | Stock-Healthcare | 0.53% | -0.15% | -4.08% | |
| 45 | WCMIX | Wcm Focused Intl Growth-inst | Stock-Other | 0.51% | -0.11% | -7.61% | |
| 46 | VBTLX | Vanguard Ttl Bd Mkt Idx-adm | Stock-Other | 0.50% | -0.04% | +3.03% | |
| 47 | ABBV | Abbvie Inc | Stock-Healthcare | 0.49% | -0.03% | -3.70% | |
| 48 | WMT | Walmart Inc | Stock-Consumer Staples | 0.48% | -0.11% | -5.10% | |
| 49 | VMLUX | Vanguard LTD Trm T/e-adm | Stock-Other | 0.44% | -0.01% | +8.09% | |
| 50 | XLK | Ss Technology Select Sector | ETF-Tech | 0.44% | -0.02% | -0.98% |
1–50 of 200
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q4 2026
+1%
Performance Last 4 Quarters
+12.1%
- Stdev
- +9.6%
- Beta
- +0.75
- Alpha
- +0.4%
- Max Drawdown
- -5.1%
- Annualized Perf
- +18.3%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +3.66
- Stutzer
- +0.52
- Treynor
- +0.23
- Sterling
- +1.25
- Calmar
- +3.59
- Information Ratio
- -1.29
- Tracking Error
- +4%
- Stdev Down
- +4.7%
- Winning Months %
- +77.8%
- Losing Months %
- +22.2%
- Best 12 Months
- +28%
- Worst 12 Months
- +6.3%
- Efficiency Ratio
- +0.72
- Sharpe
- +1.81
- Stdev Sectors
- +9.7%
- Skewness
- -0.23
- Kurtosis
- +0.23
- Upside Potential
- +5.04
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q3 | 497 | $3.0B | 16 | ||
| 2026 Q2 | 500 | $2.8B | 0 | ||
| 2026 Q1 | 501 | $2.6B | 11 | ||
| 2025 Q4 | 513 | $2.7B | 7 | ||
| 2025 Q3 | 523 | $2.7B | 19 | ||
| 2025 Q2 | 518 | $2.6B | 0 | ||
| 2025 Q1 | 514 | $2.5B | 100 | ||
| 2024 Q4 | 560 | $2.6B | 0 | ||
| 2024 Q3 | 563 | $2.6B | 0 | ||
| 2024 Q2 | 517 | $2.5B | 0 | ||
| 2024 Q1 | 336 | $1.3B | 0 | ||
| 2023 Q4 | 337 | $1.2B | 0 | ||
| 2023 Q3 | 331 | $1.1B | 0 | ||
| 2023 Q2 | 346 | $1.2B | 0 | ||
| 2023 Q1 | 357 | $1.1B | 0 | ||
| 2022 Q4 | 374 | $1.1B | 0 | ||
| 2022 Q3 | 372 | $998.7M | 0 | ||
| 2022 Q2 | 370 | $1.0B | 0 | ||
| 2022 Q1 | 354 | $1.2B | 0 | ||
| 2021 Q4 | 357 | $1.3B | 0 | ||
| 2021 Q3 | 365 | $1.6B | 0 | ||
| 2021 Q2 | 368 | $1.5B | 99 | ||
| 2021 Q1 | 372 | $1.5B | 12 | ||
| 2020 Q4 | 365 | $1.5B | 12 | ||
| 2020 Q3 | 391 | $1.3B | 15 | ||
| 2020 Q2 | 381 | $1.2B | 46 | ||
| 2020 Q1 | 374 | $772.7M | 27 | ||
| 2019 Q4 | 395 | $976.8M | 12 | ||
| 2019 Q3 | 382 | $941.0M | 48 | ||
| 2019 Q2 | 321 | $628.5M | 11 | ||
| 2019 Q1 | 314 | $619.4M | 19 | ||
| 2018 Q4 | 310 | $521.1M | 18 | ||
| 2018 Q3 | 322 | $610.0M | 9 | ||
| 2018 Q2 | 320 | $574.7M | 22 | ||
| 2018 Q1 | 314 | $595.7M | 17 | ||
| 2017 Q4 | 325 | $586.6M | 9 | ||
| 2017 Q3 | 325 | $578.9M | 56 | ||
| 2017 Q2 | 268 | $361.9M | 11 | ||
| 2017 Q1 | 267 | $359.0M | 11 | ||
| 2016 Q4 | 270 | $337.6M | 13 | ||
| 2016 Q3 | 263 | $311.9M | 12 | ||
| 2016 Q2 | 261 | $303.3M | 11 | ||
| 2016 Q1 | 251 | $282.3M | 14 | ||
| 2015 Q4 | 251 | $283.6M | 9 | ||
| 2015 Q3 | 253 | $280.0M | 23 | ||
| 2015 Q2 | 255 | $320.2M | 15 | ||
| 2015 Q1 | 256 | $324.0M | 10 | ||
| 2014 Q4 | 245 | $319.5M | 12 | ||
| 2014 Q3 | 246 | $313.0M | 9 | ||
| 2014 Q2 | 246 | $320.9M | 14 | ||
| 2014 Q1 | 242 | $310.1M | 10 | ||
| 2013 Q4 | 238 | $304.5M | 12 | ||
| 2013 Q3 | 237 | $295.0M | 14 | ||
| 2013 Q2 | 236 | $281.7M | 0 |
Holding changes this quarter
First Merchants CORP's most significant position changes for 2026-09-30: Sold out: Exxon Mobil CORP (XOM); New buy: First Majestic Silver CORP (AG); New buy: Amer Fnds Inc Of Amer-f2 (AMEFX); New buy: Thornburg Invest Inc Bld-i (TIBIX); New buy: First Eagle Global-i (SGIIX).
Showing top 200 changes by size (of 370 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Fmpw Inst Money | +8.5% | +153.37% | Add |
| 2 | MSFT | Microsoft CORP | +0.4% | +1.22% | Add |
| 3 | META | Meta Platforms Inc-class A | +0.2% | +13.72% | Add |
| 4 | AAPL | Apple Inc | +0.1% | -2.80% | Trim |
| 5 | SGOV | Ishares 0-3 Month Treasury B | +0.1% | +22.34% | Add |
| 6 | ACN | Accenture plc | +0.1% | -7.51% | Trim |
| 7 | FGTXX | Gldmn Schs Fin Sq Gv-fst | 0% | +37.89% | Add |
| 8 | NVDA | Nvidia CORP | 0% | -2.88% | Trim |
| 9 | NOW | Servicenow Inc | 0% | -4.13% | Trim |
| 10 | VLO | Valero Energy CORP | 0% | -4.22% | Trim |
| 11 | CVX | Chevron CORP | 0% | -0.83% | Trim |
| 12 | SCHP | Schwab U.s. Tips ETF | 0% | +88.10% | Add |
| 13 | PSX | Phillips 66 | 0% | -7.78% | Trim |
| 14 | AG | First Majestic Silver CORP | 0% | NEW | New buy |
| 15 | DHR | Danaher CORP | 0% | -5.05% | Trim |
| 16 | COP | Conocophillips | 0% | -5.76% | Trim |
| 17 | XLE | Ss Energy Select Sector | 0% | -0.67% | Trim |
| 18 | AMEFX | Amer Fnds Inc Of Amer-f2 | 0% | NEW | New buy |
| 19 | TIBIX | Thornburg Invest Inc Bld-i | 0% | NEW | New buy |
| 20 | SGIIX | First Eagle Global-i | 0% | NEW | New buy |
| 21 | PSLV | Sprott Physical Silver Trust | 0% | NEW | New buy |
| 22 | CRM | Salesforce Inc | 0% | NEW | New buy |
| 23 | FBFZX | Franklin Managed Income-adv | 0% | NEW | New buy |
| 24 | BMY | Bristol-myers Squibb Co | 0% | NEW | New buy |
| 25 | FRIAX | Franklin Income Fund-adv | 0% | NEW | New buy |
| 26 | PANW | Palo Alto Networks Inc | 0% | +0.14% | Add |
| 27 | IEFA | Ishares Core Msci Eafe ETF | — | +6.72% | Add |
| 28 | ADP | Automatic Data Processing | — | -4.60% | Trim |
| 29 | AMGN | Amgen Inc | — | -5.03% | Trim |
| 30 | UNP | Union Pacific CORP | — | +7.89% | Add |
| 31 | CMCSA | Comcast Corp-class A | — | -37.76% | Trim |
| 32 | PM | Philip Morris International | — | -0.17% | Trim |
| 33 | FDGRX | Fidelity Growth Company-rtl | — | +17.34% | Add |
| 34 | TWLO | Twilio Inc - A | — | — | Unchanged |
| 35 | VTSAX | Vanguard Ttl Stk Mkt-adm | — | -17.31% | Trim |
| 36 | TMO | Thermo Fisher Scientific Inc | — | — | Unchanged |
| 37 | VINAX | Vanguard Industrials Idx-adm | — | -0.06% | Trim |
| 38 | MPC | Marathon Petroleum CORP | — | -12.51% | Trim |
| 39 | VNQ | Vanguard Real Estate ETF | — | -1.09% | Trim |
| 40 | TSLA | Tesla Inc | — | +0.67% | Add |
| 41 | BRCYX | Invesco Bal Rsk Comm Str-y | — | +0.69% | Add |
| 42 | ORCL | Oracle CORP | — | -1.73% | Trim |
| 43 | MCHP | Microchip Technology Inc | — | — | Unchanged |
| 44 | KO | Coca-cola Co/the | — | -0.82% | Trim |
| 45 | AMAT | Applied Materials Inc | — | +0.68% | Add |
| 46 | MRK | Merck & Co. Inc. | — | -1.44% | Trim |
| 47 | F | Ford Motor Co | — | +0.07% | Add |
| 48 | AWK | American Water Works Co Inc | — | -7.00% | Trim |
| 49 | VCMDX | Vanguard Commodity Strat-adm | — | +3.83% | Add |
| 50 | DIS | Walt Disney Co/the | — | -6.11% | Trim |
1–50 of 200
Filing History
FAQ
What is First Merchants CORP and what type of investor is it?
First Merchants CORP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-09-30), the firm manages a tracked equity portfolio valued at approximately $3.0B, spread across 497 disclosed positions.
What are First Merchants CORP's largest equity positions?
Based on the latest 13F filing, First Merchants CORP's top holdings by market value are:
1. Fmpw Inst Money — $446.7M (14.7%)
2. Vanguard 500 Index-adm (VFIAX) — $144.3M (4.7%)
3. Federated Shrt-intrm Ttl-r6 (SRBRX) — $101.5M (3.3%)
4. Fed Herm Ttl Rtrn Bnd-r6 (FTRLX) — $94.0M (3.1%)
5. Vanguard Short-term Bond ETF (BSV) — $68.0M (2.2%)
What changes did First Merchants CORP make in its most recent portfolio filing?
In the latest reported quarter, First Merchants CORP made 193 notable position adjustments: 9 new positions were initiated, 41 existing holdings were added to, 136 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Exxon Mobil CORP (XOM); New buy: First Majestic Silver CORP (AG); New buy: Amer Fnds Inc Of Amer-f2 (AMEFX); New buy: Thornburg Invest Inc Bld-i (TIBIX); New buy: First Eagle Global-i (SGIIX)
What sectors does First Merchants CORP focus on?
First Merchants CORP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 36.4%
• Health Care: 13.7%
• Financials: 12.7%
• Communication Services: 9.8%
• Consumer Discretionary: 9.3%
• Industrials: 6.4%
Investment Profile
First Merchants CORP returned an annualized 18.3% over the trailing 36 months — outperforming the S&P 500 by 0.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.75 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 36.4% of the portfolio concentrated in Information Technology.
It has added to its VFIAX position over the past two quarters (+$16.3M, now $144.3M), while trimming WMT over the same stretch (-$7.1M, still holding $14.5M).
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Concentration100.0
Portfolio Stability16.2
Sector conviction100.0
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DT
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H&
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Developer Access
Access First Merchants CORP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/first-merchants-corpCLI
npx alphasmo institutions get first-merchants-corp