MBIN US Equity

Merchants Bancorp

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Financials · State Commercial Banks · CIK 1629019 · FYE 1231

$48.77

+0.40 (+0.83%)

USD · as of 2026-07-28 · marketstack

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Institutional ownership· 13F filers holding MBIN · 2026-Q1 methodology → sources →

176 holders

% of shares outstanding held

99.0%

Shares held (13F)

45,490,953

Reporting holders

176

Top holders

largest 100 of 176 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Elser Financial Planning, Inc	26,983,10127.0M	$1.2B	58.74%	NEW†
2	BlackRock, Inc.	4,050,9184.1M	$174M	8.82%	ADD 115%
3	DIMENSIONAL FUND ADVISORS LP	1,758,9851.8M	$75M	3.83%	ADD 6%
4	Doma Perpetual Capital Management LLC	1,115,5941.1M	$48M	2.43%	—
5	NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	1,093,0041.1M	$47M	2.38%	—
6	STATE STREET CORP	1,034,6321.0M	$45M	2.25%	ADD 80%
7	VANGUARD CAPITAL MANAGEMENT LLC	1,000,7761.0M	$43M	2.18%	NEW†
8	AMERICAN CENTURY COMPANIES INC	742,635742,635	$32M	1.62%	ADD 10%
9	GEODE CAPITAL MANAGEMENT, LLC	725,435725,435	$31M	1.58%	—
10	ROYCE & ASSOCIATES LP	567,267567,267	$24M	1.23%	TRIM -30%
11	VANGUARD PORTFOLIO MANAGEMENT LLC	464,663464,663	$20M	1.01%	NEW
12	HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	302,408302,408	$13M	0.66%	TRIM -23%
13	MORGAN STANLEY	298,060298,060	$13M	0.65%	ADD 17%
14	NORTHERN TRUST CORP	287,093287,093	$12M	0.62%	ADD 12%
15	BANC FUNDS CO LLC	281,062281,062	$12M	0.61%	ADD 15%
16	BASSWOOD CAPITAL MANAGEMENT, L.L.C.	273,747273,747	$12M	0.60%	—
17	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	248,082248,082	$11M	0.54%	ADD 6%
18	Bank of New York Mellon Corp	236,146236,146	$10M	0.51%	ADD 44%
19	Valeo Financial Advisors, LLC	235,100235,100	$10M	0.51%	TRIM -4%
20	ROYAL BANK OF CANADA	212,852212,852	$9M	0.46%	ADD 3%
21	DENALI ADVISORS LLC	194,710194,710	$8M	0.42%	TRIM -18%
22	VANGUARD FIDUCIARY TRUST CO	181,876181,876	$8M	0.40%	NEW
23	Invesco Ltd.	155,067155,067	$7M	0.34%	ADD 238%
24	PRINCIPAL FINANCIAL GROUP INC	142,616142,616	$6M	0.31%	NEW
25	Ballast Asset Management, LP	136,586136,586	$6M	0.30%	ADD 2%
26	GOLDMAN SACHS GROUP INC	126,561126,561	$5M	0.28%	TRIM -22%
27	FIRST TRUST ADVISORS LP	116,355116,355	$5M	0.25%	TRIM -18%
28	SEI INVESTMENTS CO	108,975108,975	$5M	0.24%	ADD 95%
29	FRANKLIN RESOURCES INC	107,571107,571	$5M	0.23%	ADD 520%
30	BANK OF AMERICA CORP /DE/	106,357106,357	$5M	0.23%	ADD 67%
31	Public Sector Pension Investment Board	105,057105,057	$5M	0.23%	NEW
32	DEUTSCHE BANK AG\	102,958102,958	$4M	0.22%	ADD 50%
33	MACKENZIE FINANCIAL CORP	87,09387,093	$4M	0.19%	ADD 52%
34	Russell Investments Group, Ltd.	85,84285,842	$4M	0.19%	TRIM -30%
35	UBS Group AG	80,27580,275	$3M	0.17%	ADD 6%
36	RHUMBLINE ADVISERS	77,43477,434	$3M	0.17%	ADD 132%
37	AMERIPRISE FINANCIAL INC	72,75272,752	$3M	0.16%	ADD 65%
38	NEW YORK STATE COMMON RETIREMENT FUND	60,73460,734	$3M	0.13%	TRIM -15%
39	SAPIENT CAPITAL LLC	60,52160,521	$3M	0.13%	TRIM -20%
40	Legal & General Group Plc	58,44758,447	$3M	0.13%	ADD 170%
41	STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	57,24057,240	$2M	0.12%	NEW
42	RENAISSANCE TECHNOLOGIES LLC	49,08949,089	$2M	0.11%	ADD 8%
43	Nuveen, LLC	47,87847,878	$2M	0.10%	ADD 2%
44	RAYMOND JAMES FINANCIAL INC	43,40343,403	$2M	0.09%	TRIM -48%
45	TWO SIGMA INVESTMENTS, LP	41,62141,621	$2M	0.09%	TRIM -48%
46	Swiss National Bank	40,70040,700	$2M	0.09%	—
47	AQR CAPITAL MANAGEMENT LLC	38,31238,312	$2M	0.08%	TRIM -9%
48	Quantinno Capital Management LP	34,92634,926	$1M	0.08%	ADD 2%
49	LPL Financial LLC	34,88134,881	$1M	0.08%	TRIM -5%
50	Wakefield Asset Management LLLP	29,53029,530	$1M	0.06%	NEW
51	PRUDENTIAL FINANCIAL INC	29,41529,415	$1M	0.06%	NEW
52	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	29,32929,329	$1M	0.06%	TRIM -50%
53	Trexquant Investment LP	29,19129,191	$1M	0.06%	TRIM -57%
54	JPMORGAN CHASE & CO	29,16129,161	$1M	0.06%	TRIM -71%
55	Pacific Ridge Capital Partners, LLC	28,75328,753	$1M	0.06%	ADD 31%
56	D. E. Shaw & Co., Inc.	28,27528,275	$1M	0.06%	TRIM -84%
57	PRICE T ROWE ASSOCIATES INC /MD/	27,77827,778	$1M	0.06%	ADD 16%
58	Formidable Asset Management, LLC	34,40034,400	$1M	0.07%	—
59	Verdence Capital Advisors LLC	25,84925,849	$1M	0.06%	NEW
60	CANADA LIFE ASSURANCE Co	24,08324,083	$1M	0.05%	ADD 999%
61	JAMES INVESTMENT RESEARCH, INC.	23,77023,770	$1M	0.05%	—
62	Twelve Points Wealth Management LLC	22,91622,916	$983,333	0.05%	TRIM -5%
63	PICTON MAHONEY ASSET MANAGEMENT	22,53022,530	$966,762	0.05%	NEW
64	ALLIANCEBERNSTEIN L.P.	27,61827,618	$940,669	0.06%	—
65	XTX Topco Ltd	19,64719,647	$843,053	0.04%	TRIM -6%
66	Thrivent Financial for Lutherans	19,60519,605	$841,000	0.04%	NEW
67	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	19,14919,149	$821,684	0.04%	—
68	FEDERATED HERMES, INC.	17,84417,844	$765,686	0.04%	ADD 30%
69	State of Alaska, Department of Revenue	16,45216,452	$705,000	0.04%	ADD 736%
70	Vanguard Global Advisers, LLC	16,23716,237	$696,730	0.04%	NEW
71	STIFEL FINANCIAL CORP	16,19816,198	$695,056	0.04%	—
72	BCGM Wealth Management, LLC	15,47715,477	$664,131	0.03%	—
73	BNP PARIBAS FINANCIAL MARKETS	15,19815,198	$652,146	0.03%	TRIM -45%
74	Illinois Municipal Retirement Fund	15,13215,132	$649,314	0.03%	NEW
75	VANGUARD ASSET MANAGEMENT, Ltd	14,74714,747	$632,794	0.03%	NEW
76	MANUFACTURERS LIFE INSURANCE COMPANY, THE	14,72914,729	$632,021	0.03%	—
77	Impact Partnership Wealth, LLC	14,51914,519	$623,010	0.03%	—
78	MetLife Investment Management, LLC	14,24714,247	$611,339	0.03%	TRIM -9%
79	STRS OHIO	14,20014,200	$609,322	0.03%	TRIM -24%
80	ACADIAN ASSET MANAGEMENT LLC	13,72113,721	$587,000	0.03%	NEW
81	CITIGROUP INC	13,24113,241	$568,171	0.03%	ADD 376%
82	Louisiana State Employees Retirement System	13,00013,000	$557,830	0.03%	NEW
83	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	12,18412,184	$522,815	0.03%	—
84	COMMONWEALTH EQUITY SERVICES, LLC	12,00012,000	$514,930	0.03%	—
85	Inspire Investing, LLC	11,94411,944	$512,517	0.03%	TRIM -36%
86	State of Tennessee, Department of Treasury	11,26311,263	$483,296	0.02%	NEW
87	OXFORD FINANCIAL GROUP, LTD. LLC	11,13711,137	$477,889	0.02%	—
88	SUSQUEHANNA INTERNATIONAL GROUP, LLP	10,16810,168	$436,309	0.02%	TRIM -29%
89	Aldebaran Capital, LLC	10,12510,125	$434,464	0.02%	—
90	PNC FINANCIAL SERVICES GROUP, INC.	9,8789,878	$423,865	0.02%	—
91	WELLS FARGO & COMPANY/MN	9,8759,875	$423,724	0.02%	TRIM -69%
92	MIRABELLA FINANCIAL SERVICES LLP	9,7069,706	$416,484	0.02%	TRIM -35%
93	NEW YORK STATE TEACHERS RETIREMENT SYSTEM	9,1469,146	$392,000	0.02%	NEW
94	Cetera Investment Advisers	8,4288,428	$361,658	0.02%	ADD 11%
95	LANDSCAPE CAPITAL MANAGEMENT, L.L.C.	8,3888,388	$359,929	0.02%	NEW
96	AMALGAMATED BANK	8,3498,349	$358,000	0.02%	ADD 923%
97	YOUSIF CAPITAL MANAGEMENT, LLC	7,8477,847	$336,715	0.02%	NEW
98	Meeder Advisory Services, Inc.	7,5007,500	$321,825	0.02%	—
99	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	7,3007,300	$313,000	0.02%	NEW
100	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	7,2637,263	$311,655	0.02%	NEW

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Elser Financial Planning, Inc

27.3M

—

27.0M

$1.2B

BlackRock, Inc.

1.5M

1.9M

4.1M

$174M

DIMENSIONAL FUND ADVISORS LP

1.3M

1.4M

1.5M

1.6M

1.7M

1.8M

$75M

Doma Perpetual Capital Management LLC

—

94K

1.1M

$48M

NOMURA ASSET MANAGEMENT INTERNATIONAL INC.

—

1.1M

$47M

STATE STREET CORP

468K

461K

530K

548K

574K

1.0M

$45M

VANGUARD CAPITAL MANAGEMENT LLC

—

1.0M

$43M

AMERICAN CENTURY COMPANIES INC

475K

513K

568K

630K

676K

743K

$32M

GEODE CAPITAL MANAGEMENT, LLC

566K

580K

681K

696K

715K

725K

$31M

ROYCE & ASSOCIATES LP

566K

687K

782K

862K

808K

567K

$24M

VANGUARD PORTFOLIO MANAGEMENT LLC

—

465K

$20M

HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC

241K

301K

363K

390K

391K

302K

$13M

MORGAN STANLEY

292K

279K

254K

234K

255K

298K

$13M

NORTHERN TRUST CORP

179K

173K

226K

274K

256K

287K

$12M

BANC FUNDS CO LLC

401K

386K

341K

244K

281K

$12M

Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	176	45,490,953	99.0%	$2.0B
2025-Q4	150	16,089,401	35.0%	$548M
2025-Q3	158	15,938,343	34.7%	$507M
2025-Q2	150	15,492,065	33.7%	$512M
2025-Q1	160	14,897,761	32.4%	$551M
2024-Q4	170	41,898,803	91.2%	$1.5B
2024-Q3	174	14,777,816

Short interest has its own tab now — open SI →

Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.

Activists & large holders· Schedule 13D/G beneficial owners · MBIN

Large holders — 13G, passive (top 3 by % of class)

Holder	% of class	Type	As of
Petrie Michael F.	27.4%	Exempt	2026-02-26	SEC →
BlackRock, Inc.	8.8%	QII	2026-03-31	SEC →
Rogers Randall D.	8.3%	Exempt	2026-02-09	SEC →

Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).

Institutional ownership· 13F filers holding MBIN · 2026-Q1 methodology → sources →

176 holders

% of shares outstanding held

99.0%

Shares held (13F)

45,490,953

Reporting holders

176

Top holders

largest 100 of 176 · Δ vs 2025-Q4

#	Holder	Shares	Value	% of shares out	Δ QoQ
1	Elser Financial Planning, Inc	26,983,10127.0M	$1.2B	58.74%	NEW†
2	BlackRock, Inc.	4,050,9184.1M	$174M	8.82%	ADD 115%
3	DIMENSIONAL FUND ADVISORS LP	1,758,9851.8M	$75M	3.83%	ADD 6%
4	Doma Perpetual Capital Management LLC	1,115,5941.1M	$48M	2.43%	—
5	NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	1,093,0041.1M	$47M	2.38%	—
6	STATE STREET CORP	1,034,6321.0M	$45M	2.25%	ADD 80%
7	VANGUARD CAPITAL MANAGEMENT LLC	1,000,7761.0M	$43M	2.18%	NEW†
8	AMERICAN CENTURY COMPANIES INC	742,635742,635	$32M	1.62%	ADD 10%
9	GEODE CAPITAL MANAGEMENT, LLC	725,435725,435	$31M	1.58%	—
10	ROYCE & ASSOCIATES LP	567,267567,267	$24M	1.23%	TRIM -30%
11	VANGUARD PORTFOLIO MANAGEMENT LLC	464,663464,663	$20M	1.01%	NEW
12	HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC	302,408302,408	$13M	0.66%	TRIM -23%
13	MORGAN STANLEY	298,060298,060	$13M	0.65%	ADD 17%
14	NORTHERN TRUST CORP	287,093287,093	$12M	0.62%	ADD 12%
15	BANC FUNDS CO LLC	281,062281,062	$12M	0.61%	ADD 15%
16	BASSWOOD CAPITAL MANAGEMENT, L.L.C.	273,747273,747	$12M	0.60%	—
17	CHARLES SCHWAB INVESTMENT MANAGEMENT INC	248,082248,082	$11M	0.54%	ADD 6%
18	Bank of New York Mellon Corp	236,146236,146	$10M	0.51%	ADD 44%
19	Valeo Financial Advisors, LLC	235,100235,100	$10M	0.51%	TRIM -4%
20	ROYAL BANK OF CANADA	212,852212,852	$9M	0.46%	ADD 3%
21	DENALI ADVISORS LLC	194,710194,710	$8M	0.42%	TRIM -18%
22	VANGUARD FIDUCIARY TRUST CO	181,876181,876	$8M	0.40%	NEW
23	Invesco Ltd.	155,067155,067	$7M	0.34%	ADD 238%
24	PRINCIPAL FINANCIAL GROUP INC	142,616142,616	$6M	0.31%	NEW
25	Ballast Asset Management, LP	136,586136,586	$6M	0.30%	ADD 2%
26	GOLDMAN SACHS GROUP INC	126,561126,561	$5M	0.28%	TRIM -22%
27	FIRST TRUST ADVISORS LP	116,355116,355	$5M	0.25%	TRIM -18%
28	SEI INVESTMENTS CO	108,975108,975	$5M	0.24%	ADD 95%
29	FRANKLIN RESOURCES INC	107,571107,571	$5M	0.23%	ADD 520%
30	BANK OF AMERICA CORP /DE/	106,357106,357	$5M	0.23%	ADD 67%
31	Public Sector Pension Investment Board	105,057105,057	$5M	0.23%	NEW
32	DEUTSCHE BANK AG\	102,958102,958	$4M	0.22%	ADD 50%
33	MACKENZIE FINANCIAL CORP	87,09387,093	$4M	0.19%	ADD 52%
34	Russell Investments Group, Ltd.	85,84285,842	$4M	0.19%	TRIM -30%
35	UBS Group AG	80,27580,275	$3M	0.17%	ADD 6%
36	RHUMBLINE ADVISERS	77,43477,434	$3M	0.17%	ADD 132%
37	AMERIPRISE FINANCIAL INC	72,75272,752	$3M	0.16%	ADD 65%
38	NEW YORK STATE COMMON RETIREMENT FUND	60,73460,734	$3M	0.13%	TRIM -15%
39	SAPIENT CAPITAL LLC	60,52160,521	$3M	0.13%	TRIM -20%
40	Legal & General Group Plc	58,44758,447	$3M	0.13%	ADD 170%
41	STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM	57,24057,240	$2M	0.12%	NEW
42	RENAISSANCE TECHNOLOGIES LLC	49,08949,089	$2M	0.11%	ADD 8%
43	Nuveen, LLC	47,87847,878	$2M	0.10%	ADD 2%
44	RAYMOND JAMES FINANCIAL INC	43,40343,403	$2M	0.09%	TRIM -48%
45	TWO SIGMA INVESTMENTS, LP	41,62141,621	$2M	0.09%	TRIM -48%
46	Swiss National Bank	40,70040,700	$2M	0.09%	—
47	AQR CAPITAL MANAGEMENT LLC	38,31238,312	$2M	0.08%	TRIM -9%
48	Quantinno Capital Management LP	34,92634,926	$1M	0.08%	ADD 2%
49	LPL Financial LLC	34,88134,881	$1M	0.08%	TRIM -5%
50	Wakefield Asset Management LLLP	29,53029,530	$1M	0.06%	NEW
51	PRUDENTIAL FINANCIAL INC	29,41529,415	$1M	0.06%	NEW
52	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	29,32929,329	$1M	0.06%	TRIM -50%
53	Trexquant Investment LP	29,19129,191	$1M	0.06%	TRIM -57%
54	JPMORGAN CHASE & CO	29,16129,161	$1M	0.06%	TRIM -71%
55	Pacific Ridge Capital Partners, LLC	28,75328,753	$1M	0.06%	ADD 31%
56	D. E. Shaw & Co., Inc.	28,27528,275	$1M	0.06%	TRIM -84%
57	PRICE T ROWE ASSOCIATES INC /MD/	27,77827,778	$1M	0.06%	ADD 16%
58	Formidable Asset Management, LLC	34,40034,400	$1M	0.07%	—
59	Verdence Capital Advisors LLC	25,84925,849	$1M	0.06%	NEW
60	CANADA LIFE ASSURANCE Co	24,08324,083	$1M	0.05%	ADD 999%
61	JAMES INVESTMENT RESEARCH, INC.	23,77023,770	$1M	0.05%	—
62	Twelve Points Wealth Management LLC	22,91622,916	$983,333	0.05%	TRIM -5%
63	PICTON MAHONEY ASSET MANAGEMENT	22,53022,530	$966,762	0.05%	NEW
64	ALLIANCEBERNSTEIN L.P.	27,61827,618	$940,669	0.06%	—
65	XTX Topco Ltd	19,64719,647	$843,053	0.04%	TRIM -6%
66	Thrivent Financial for Lutherans	19,60519,605	$841,000	0.04%	NEW
67	CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	19,14919,149	$821,684	0.04%	—
68	FEDERATED HERMES, INC.	17,84417,844	$765,686	0.04%	ADD 30%
69	State of Alaska, Department of Revenue	16,45216,452	$705,000	0.04%	ADD 736%
70	Vanguard Global Advisers, LLC	16,23716,237	$696,730	0.04%	NEW
71	STIFEL FINANCIAL CORP	16,19816,198	$695,056	0.04%	—
72	BCGM Wealth Management, LLC	15,47715,477	$664,131	0.03%	—
73	BNP PARIBAS FINANCIAL MARKETS	15,19815,198	$652,146	0.03%	TRIM -45%
74	Illinois Municipal Retirement Fund	15,13215,132	$649,314	0.03%	NEW
75	VANGUARD ASSET MANAGEMENT, Ltd	14,74714,747	$632,794	0.03%	NEW
76	MANUFACTURERS LIFE INSURANCE COMPANY, THE	14,72914,729	$632,021	0.03%	—
77	Impact Partnership Wealth, LLC	14,51914,519	$623,010	0.03%	—
78	MetLife Investment Management, LLC	14,24714,247	$611,339	0.03%	TRIM -9%
79	STRS OHIO	14,20014,200	$609,322	0.03%	TRIM -24%
80	ACADIAN ASSET MANAGEMENT LLC	13,72113,721	$587,000	0.03%	NEW
81	CITIGROUP INC	13,24113,241	$568,171	0.03%	ADD 376%
82	Louisiana State Employees Retirement System	13,00013,000	$557,830	0.03%	NEW
83	MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.	12,18412,184	$522,815	0.03%	—
84	COMMONWEALTH EQUITY SERVICES, LLC	12,00012,000	$514,930	0.03%	—
85	Inspire Investing, LLC	11,94411,944	$512,517	0.03%	TRIM -36%
86	State of Tennessee, Department of Treasury	11,26311,263	$483,296	0.02%	NEW
87	OXFORD FINANCIAL GROUP, LTD. LLC	11,13711,137	$477,889	0.02%	—
88	SUSQUEHANNA INTERNATIONAL GROUP, LLP	10,16810,168	$436,309	0.02%	TRIM -29%
89	Aldebaran Capital, LLC	10,12510,125	$434,464	0.02%	—
90	PNC FINANCIAL SERVICES GROUP, INC.	9,8789,878	$423,865	0.02%	—
91	WELLS FARGO & COMPANY/MN	9,8759,875	$423,724	0.02%	TRIM -69%
92	MIRABELLA FINANCIAL SERVICES LLP	9,7069,706	$416,484	0.02%	TRIM -35%
93	NEW YORK STATE TEACHERS RETIREMENT SYSTEM	9,1469,146	$392,000	0.02%	NEW
94	Cetera Investment Advisers	8,4288,428	$361,658	0.02%	ADD 11%
95	LANDSCAPE CAPITAL MANAGEMENT, L.L.C.	8,3888,388	$359,929	0.02%	NEW
96	AMALGAMATED BANK	8,3498,349	$358,000	0.02%	ADD 923%
97	YOUSIF CAPITAL MANAGEMENT, LLC	7,8477,847	$336,715	0.02%	NEW
98	Meeder Advisory Services, Inc.	7,5007,500	$321,825	0.02%	—
99	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	7,3007,300	$313,000	0.02%	NEW
100	COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS	7,2637,263	$311,655	0.02%	NEW

† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.

Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.

Holder trends· top 15 holders · shares held over 6 quarters

green added · red trimmed

Holder

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

Elser Financial Planning, Inc

27.3M

—

27.0M

$1.2B

BlackRock, Inc.

1.5M

1.9M

4.1M

$174M

DIMENSIONAL FUND ADVISORS LP

1.3M

1.4M

1.5M

1.6M

1.7M

1.8M

$75M

Doma Perpetual Capital Management LLC

—

94K

1.1M

$48M

NOMURA ASSET MANAGEMENT INTERNATIONAL INC.

—

1.1M

$47M

STATE STREET CORP

468K

461K

530K

548K

574K

1.0M

$45M

VANGUARD CAPITAL MANAGEMENT LLC

—

1.0M

$43M

AMERICAN CENTURY COMPANIES INC

475K

513K

568K

630K

676K

743K

$32M

GEODE CAPITAL MANAGEMENT, LLC

566K

580K

681K

696K

715K

725K

$31M

ROYCE & ASSOCIATES LP

566K

687K

782K

862K

808K

567K

$24M

VANGUARD PORTFOLIO MANAGEMENT LLC

—

465K

$20M

HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC

241K

301K

363K

390K

391K

302K

$13M

MORGAN STANLEY

292K

279K

254K

234K

255K

298K

$13M

NORTHERN TRUST CORP

179K

173K

226K

274K

256K

287K

$12M

BANC FUNDS CO LLC

401K

386K

341K

244K

281K

$12M

Institutional footprint by quarter

Line breaks are honest gaps — quarters with no 13F record, or a suppressed % — never interpolated. % of shares outstanding uses today's share count for every quarter (the only count stored).

Quarter	Holders	Shares held	% shares out	Value held
2026-Q1	176	45,490,953	99.0%	$2.0B
2025-Q4	150	16,089,401	35.0%	$548M
2025-Q3	158	15,938,343	34.7%	$507M
2025-Q2	150	15,492,065	33.7%	$512M
2025-Q1	160	14,897,761	32.4%	$551M
2024-Q4	170	41,898,803	91.2%	$1.5B
2024-Q3	174	14,777,816

Short interest has its own tab now — open SI →

Activists & large holders· Schedule 13D/G beneficial owners · MBIN

Large holders — 13G, passive (top 3 by % of class)

Holder	% of class	Type	As of
Petrie Michael F.	27.4%	Exempt	2026-02-26	SEC →
BlackRock, Inc.	8.8%	QII	2026-03-31	SEC →
Rogers Randall D.	8.3%	Exempt	2026-02-09	SEC →

MBIN US Equity☆

Institutional ownership· 13F filers holding MBIN · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · MBIN

Institutional ownership· 13F filers holding MBIN · 2026-Q1 methodology → sources →

Top holders

Holder trends· top 15 holders · shares held over 6 quarters

Institutional footprint by quarter

Activists & large holders· Schedule 13D/G beneficial owners · MBIN

MBIN US Equity