Merchants Bancorp (MBIN) — Institutional Holders, Q2 2026
189 institutional investment managers reported a MBIN position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $2.3B. Every filer is listed below, ranked by position value, 100 per page; this page shows ranks 1 to 100. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.
MBIN in Q2 2026: what funds did
Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.
Biggest buyers
- AMERICAN CENTURY COMPANIESAdded · +94,417 sh+$4.7M
- Invesco Ltd.Added · +85,328 sh+$4.3M
- DIMENSIONAL FUND ADVISORSAdded · +68,159 sh+$3.4M
- BlackRockAdded · +54,275 sh+$2.7M
- XTX Topco LtdAdded · +45,338 sh+$2.3M
Biggest sellers
- Doma Perpetual Capital ManagementTrimmed · -305,512 sh-$15.3M
- Elser Financial PlanningTrimmed · -174,476 sh-$8.7M
- MACKENZIE FINANCIALSold out · -87,093 sh-$4.4M
- GOLDMAN SACHS GROUPTrimmed · -55,322 sh-$2.8M
- SEI INVESTMENTSTrimmed · -54,253 sh-$2.7M
MBIN 13F holders ranked 1–100 of 189
| # | Institution | Shares | Value | % of portfolio | QoQShares vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | Elser Financial Planning#1 · 26,808,625 sh | 26,808,625 | $1.3B | — | -0.6% |
| 2 | BlackRock#2 · 4,105,193 sh | 4,105,193 | $205.3M | <0.01% | +1.3% |
| 3 | DIMENSIONAL FUND ADVISORS#3 · 1,827,144 sh | 1,827,144 | $91.4M | 0.02% | +3.9% |
| 4 | STATE STREET#4 · 1,066,972 sh | 1,066,972 | $53.5M | <0.01% | +3.1% |
| 5 | NOMURA ASSET MANAGEMENT INTERNATIONAL#5 · 1,044,992 sh | 1,044,992 | $52.3M | 0.08% | -4.4% |
| 6 | VANGUARD CAPITAL MANAGEMENT#6 · 1,015,813 sh | 1,015,813 | $50.8M | <0.01% | +1.5% |
| 7 | AMERICAN CENTURY COMPANIES#7 · 837,052 sh | 837,052 | $41.9M | 0.02% | +12.7% |
| 8 | Doma Perpetual Capital Management#8 · 810,082 sh | 810,082 | $40.5M | 9.40% | -27.4% |
| 9 | GEODE CAPITAL MANAGEMENT#9 · 740,326 sh | 740,326 | $37.0M | <0.01% | +2.1% |
| 10 | ROYCE & ASSOCIATES#10 · 527,047 sh | 527,047 | $26.4M | 0.21% | -7.1% |
| 11 | VANGUARD PORTFOLIO MANAGEMENT#11 · 488,221 sh | 488,221 | $24.4M | <0.01% | +5.1% |
| 12 | MORGAN STANLEY#12 · 308,775 sh | 308,775 | $15.4M | <0.01% | +3.6% |
| 13 | NORTHERN#13 · 301,802 sh | 301,802 | $15.1M | <0.01% | +5.1% |
| 14 | HOTCHKIS & WILEY CAPITAL MANAGEMENT#14 · 298,438 sh | 298,438 | $14.9M | 0.04% | -1.3% |
| 15 | BANC FUNDS#15 · 285,062 sh | 285,062 | $14.3M | 2.35% | +1.4% |
| 16 | BASSWOOD CAPITAL MANAGEMENT, L.L.C.#16 · 273,747 sh | 273,747 | $13.7M | 0.54% | 0.0% |
| 17 | CHARLES SCHWAB INVESTMENT MANAGEMENT#17 · 252,548 sh | 252,548 | $12.6M | <0.01% | +1.8% |
| 18 | Invesco Ltd.#18 · 240,395 sh | 240,395 | $12.0M | <0.01% | +55.0% |
| 19 | Bank of New York Mellon#19 · 234,378 sh | 234,378 | $11.7M | <0.01% | -0.7% |
| 20 | Valeo Financial Advisors#20 · 226,998 sh | 226,998 | $11.3M | — | -3.4% |
| 21 | ROYAL BANK OF CANADA#21 · 220,641 sh | 220,641 | $11.0M | <0.01% | +3.7% |
| 22 | VANGUARD FIDUCIARY#22 · 190,624 sh | 190,624 | $9.5M | <0.01% | +4.8% |
| 23 | DENALI ADVISORS#23 · 174,576 sh | 174,576 | $8.7M | 0.88% | -10.3% |
| 24 | PRINCIPAL FINANCIAL GROUP#24 · 142,476 sh | 142,476 | $7.1M | <0.01% | -0.1% |
| 25 | Ballast Asset Management#25 · 135,270 sh | 135,270 | $6.8M | 2.70% | -1.0% |
| 26 | BANK OF AMERICA#26 · 121,142 sh | 121,142 | $6.1M | <0.01% | +13.9% |
| 27 | Russell Investments Group, Ltd.#27 · 112,021 sh | 112,021 | $5.6M | <0.01% | +30.5% |
| 28 | DEUTSCHE BANK AG\#28 · 105,673 sh | 105,673 | $5.3M | <0.01% | +2.6% |
| 29 | FIRST ADVISORS#29 · 100,916 sh | 100,916 | $5.0M | <0.01% | -13.3% |
| 30 | PUBLIC SECTOR PENSION INVESTMENT BOARD#30 · 100,763 sh | 100,763 | $5.0M | 0.01% | -4.1% |
| 31 | FRANKLIN RESOURCES#31 · 98,874 sh | 98,874 | $4.9M | <0.01% | -8.1% |
| 32 | GOLDMAN SACHS GROUP#32 · 71,239 sh | 71,239 | $3.6M | <0.01% | -43.7% |
| 33 | AMERIPRISE FINANCIAL#33 · 70,459 sh | 70,459 | $3.5M | <0.01% | -3.2% |
| 34 | RHUMBLINE ADVISERS#34 · 66,756 sh | 66,756 | $3.3M | <0.01% | -13.8% |
| 35 | XTX Topco Ltd#35 · 64,985 sh | 64,985 | $3.2M | 0.04% | +230.8% |
| 36 | Legal & General Group Plc#36 · 64,385 sh | 64,385 | $3.2M | <0.01% | +10.2% |
| 37 | UBS Group AG#37 · 61,772 sh | 61,772 | $3.1M | <0.01% | -23.0% |
| 38 | SAPIENT CAPITAL#38 · 60,521 sh | 60,521 | $3.0M | — | 0.0% |
| 39 | NEW YORK STATE COMMON RETIREMENT FUND#39 · 58,134 sh | 58,134 | $2.9M | <0.01% | -4.3% |
| 40 | SEI INVESTMENTS#40 · 54,722 sh | 54,722 | $2.7M | <0.01% | -49.8% |
| 41 | STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM#41 · 54,235 sh | 54,235 | $2.7M | <0.01% | -5.2% |
| 42 | Nuveen#42 · 50,975 sh | 50,975 | $2.5M | <0.01% | +6.5% |
| 43 | Quantinno Capital Management#43 · 50,163 sh | 50,163 | $2.5M | <0.01% | +43.6% |
| 44 | CITIGROUP#44 · 42,361 sh | 42,361 | $2.1M | <0.01% | +219.9% |
| 45 | Swiss National Bank#45 · 41,500 sh | 41,500 | $2.1M | <0.01% | +2.0% |
| 46 | AQR CAPITAL MANAGEMENT#46 · 40,280 sh | 40,280 | $2.0M | <0.01% | +5.1% |
| 47 | RAYMOND JAMES FINANCIAL#47 · 38,503 sh | 38,503 | $1.9M | <0.01% | -11.3% |
| 48 | TWO SIGMA INVESTMENTS#48 · 34,621 sh | 34,621 | $1.7M | <0.01% | -16.8% |
| 49 | LPL Financial#49 · 33,978 sh | 33,978 | $1.7M | <0.01% | -2.6% |
| 50 | PRICE T ROWE ASSOCIATES#50 · 33,798 sh | 33,798 | $1.7M | <0.01% | +21.7% |
| 51 | PRUDENTIAL FINANCIAL#51 · 29,615 sh | 29,615 | $1.5M | <0.01% | +0.7% |
| 52 | UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AME#52 · 29,329 sh | 29,329 | $1.5M | <0.01% | 0.0% |
| 53 | Formidable Asset Management#53 · 33,200 sh | 33,200 | $1.4M | 0.23% | -3.5% |
| 54 | Pacific Ridge Capital Partners#54 · 28,425 sh | 28,425 | $1.4M | 0.26% | -1.1% |
| 55 | PICTON MAHONEY ASSET MANAGEMENT#55 · 26,915 sh | 26,915 | $1.3M | 0.01% | +19.5% |
| 56 | ExodusPoint Capital Management#56 · 25,670 sh | 25,670 | $1.3M | <0.01% | New |
| 57 | MILLENNIUM MANAGEMENT#57 · 25,501 sh | 25,501 | $1.3M | <0.01% | New |
| 58 | Verdence Capital Advisors#58 · 25,019 sh | 25,019 | $1.3M | — | -3.2% |
| 59 | FEDERATED HERMES#59 · 24,990 sh | 24,990 | $1.2M | <0.01% | +40.0% |
| 60 | JAMES INVESTMENT RESEARCH#60 · 23,770 sh | 23,770 | $1.2M | — | 0.0% |
| 61 | ALLIANCEBERNSTEIN L.P.#61 · 27,618 sh | 27,618 | $1.2M | <0.01% | 0.0% |
| 62 | GREAT WEST LIFE ASSURANCE#62 · 22,867 sh | 22,867 | $1.1M | <0.01% | -5.0% |
| 63 | WELLS FARGO & COMPANY#63 · 21,957 sh | 21,957 | $1.1M | <0.01% | +122.3% |
| 64 | Twelve Points Wealth Management#64 · 20,466 sh | 20,466 | $1.0M | 0.20% | -10.7% |
| 65 | THRIVENT FINANCIAL FOR LUTHERANS#65 · 19,305 sh | 19,305 | $965.0K | <0.01% | -1.5% |
| 66 | CAPSTONE INVESTMENT ADVISORS#66 · 19,018 sh | 19,018 | $950.9K | <0.01% | New |
| 67 | JPMORGAN CHASE#67 · 17,799 sh | 17,799 | $945.8K | <0.01% | -39.0% |
| 68 | Vanguard Global Advisers#68 · 17,050 sh | 17,050 | $852.5K | <0.01% | +5.0% |
| 69 | D. E. Shaw#69 · 16,359 sh | 16,359 | $818.0K | <0.01% | -42.1% |
| 70 | STIFEL FINANCIAL#70 · 16,174 sh | 16,174 | $808.7K | <0.01% | -0.1% |
| 71 | LJI Wealth Management#71 · 15,000 sh | 15,000 | $750.0K | 0.11% | New |
| 72 | Illinois Municipal Retirement Fund#72 · 14,873 sh | 14,873 | $743.6K | <0.01% | -1.7% |
| 73 | VANGUARD ASSET MANAGEMENT, Ltd#73 · 14,747 sh | 14,747 | $737.4K | <0.01% | 0.0% |
| 74 | MetLife Investment Management#74 · 14,708 sh | 14,708 | $735.4K | <0.01% | +3.2% |
| 75 | STRS OHIO#75 · 14,200 sh | 14,200 | $710.0K | <0.01% | 0.0% |
| 76 | Curry Webb Wealth Management#76 · 14,118 sh | 14,118 | $705.9K | — | +0.2% |
| 77 | BNP PARIBAS FINANCIAL MARKETS#77 · 13,646 sh | 13,646 | $682.3K | <0.01% | -10.2% |
| 78 | Inspire Investing#78 · 13,567 sh | 13,567 | $678.4K | — | +13.6% |
| 79 | Louisiana State Employees Retirement System#79 · 12,900 sh | 12,900 | $645.0K | — | -0.8% |
| 80 | ACADIAN ASSET MANAGEMENT#80 · 12,532 sh | 12,532 | $626.0K | <0.01% | -8.7% |
| 81 | COMMONWEALTH EQUITY SERVICES#81 · 11,856 sh | 11,856 | $592.8K | <0.01% | -1.2% |
| 82 | MIRAE ASSET GLOBAL ETFS Ltd.#82 · 11,658 sh | 11,658 | $582.9K | <0.01% | -4.3% |
| 83 | State of Alaska, Department of Revenue#83 · 11,649 sh | 11,649 | $582.0K | — | -29.2% |
| 84 | OXFORD FINANCIAL GROUP, LTD.#84 · 11,137 sh | 11,137 | $556.9K | 0.03% | 0.0% |
| 85 | Aldebaran Capital#85 · 10,125 sh | 10,125 | $506.3K | 0.38% | 0.0% |
| 86 | BCGM Wealth Management#86 · 10,097 sh | 10,097 | $504.9K | 0.11% | -34.8% |
| 87 | PNC FINANCIAL SERVICES GROUP#87 · 9,991 sh | 9,991 | $499.6K | <0.01% | +1.1% |
| 88 | NEW YORK STATE TEACHERS RETIREMENT SYSTEM#88 · 9,649 sh | 9,649 | $482.0K | — | +5.5% |
| 89 | MANUFACTURERS LIFE INSURANCE COMPANY, THE#89 · 8,720 sh | 8,720 | $436.0K | <0.01% | -40.8% |
| 90 | BARCLAYS PLC#90 · 8,629 sh | 8,629 | $431.4K | <0.01% | +49.0% |
| 91 | SG Americas Securities#91 · 8,007 sh | 8,007 | $400.0K | <0.01% | +62.9% |
| 92 | YOUSIF CAPITAL MANAGEMENT#92 · 7,791 sh | 7,791 | $389.6K | — | -0.7% |
| 93 | AMALGAMATED BANK#93 · 7,787 sh | 7,787 | $389.0K | — | -6.7% |
| 94 | Cetera Investment Advisers#94 · 7,628 sh | 7,628 | $381.4K | <0.01% | -9.5% |
| 95 | Meeder Advisory Services#95 · 7,500 sh | 7,500 | $375.0K | 0.01% | 0.0% |
| 96 | Impact Partnership Wealth#96 · 7,319 sh | 7,319 | $365.9K | 0.04% | -49.6% |
| 97 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY#97 · 7,300 sh | 7,300 | $365.0K | <0.01% | 0.0% |
| 98 | ZEGA Investments#98 · 7,200 sh | 7,200 | $360.0K | 0.04% | New |
| 99 | Police & Firemen's Retirement System of New Jersey#99 · 7,177 sh | 7,177 | $358.9K | <0.01% | 0.0% |
| 100 | Jupiter Topco#100 · 7,076 sh | 7,076 | $353.6K | <0.01% | — |
Funds that sold out of MBIN in Q2 2026 (15)
Held MBIN at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.
| Institution | Shares sold | Value in Q1 2026 |
|---|---|---|
| MACKENZIE FINANCIAL87,093 sh | 87,093 | $3.7M |
| RENAISSANCE TECHNOLOGIES49,089 sh | 49,089 | $2.1M |
| Wakefield Asset Management LLLP29,530 sh | 29,530 | $1.3M |
| Trexquant Investment29,191 sh | 29,191 | $1.3M |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP10,168 sh | 10,168 | $436.3K |
| MIRABELLA FINANCIAL SERVICES LLP9,706 sh | 9,706 | $416.5K |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C.8,388 sh | 8,388 | $359.9K |
| TWO SIGMA SECURITIES7,224 sh | 7,224 | $310.0K |
| Brevan Howard Capital Management6,721 sh | 6,721 | $288.4K |
| Engineers Gate Manager5,237 sh | 5,237 | $224.7K |
| Advisory Services Network4,867 sh | 4,867 | $208.8K |
| QUADRANT CAPITAL GROUP342 sh | 342 | $56.3K |
| Quantbot Technologies1,069 sh | 1,069 | $45.9K |
| MAI Capital Management34 sh | 34 | $1.5K |
| Root Financial Partners19 sh | 19 | $815.00 |
Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.