Who owns MERC (MERC)
Which tracked institutional funds hold MERC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See MERC company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on MERC is one-sided between 2025-Q4 and 2026-Q1: 5 added or opened and 17 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
MERC’s largest tracked holder by dollar value, IAT REINSURANCE CO LTD., sizes it at 9.3% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 9.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in MERC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 76 tracked filers holding MERC, 33 increased or opened the position and 36 reduced or closed it; over the same quarter, open-market insider Form 4s were net purchases.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in MERC between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 2
- FRANKLIN RESOURCES INC$1M
- VANGUARD CAPITAL MANAGEMENT LLC$678K
Full exits 2
- Diameter Capital Partners LP$2M
- VANGUARD GROUP INC$2M
Largest adds
- BARCLAYS PLC$3M
- Benefit Street Partners LLC$992K
- GSA CAPITAL PARTNERS LLP$340K
Largest trims
- IAT REINSURANCE CO LTD.$10M
- READYSTATE ASSET MANAGEMENT LP$3M
- REDWOOD CAPITAL MANAGEMENT, LLC$3M
- Solas Capital Management, LLC$2M
- DIMENSIONAL FUND ADVISORS LP$2M
- TORONTO DOMINION BANK$2M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| IAT REINSURANCE CO LTD. | 17,220,000 | $24M | 23.5% | 2026-Q1 |
| REDWOOD CAPITAL MANAGEMENT, LLC | 4,648,133 | $7M | 6.4% | 2026-Q1 |
| BARCLAYS PLC added | 3,320,081 | $5M | 4.5% | 2026-Q1 |
| TORONTO DOMINION BANK | 3,300,000 | $5M | 4.5% | 2026-Q1 |
| Atlas FRM LLC | 3,150,000 | $4M | 4.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 2,554,086 | $4M | 3.5% | 2026-Q1 |
| READYSTATE ASSET MANAGEMENT LP trimmed | 1,383,838 | $2M | 1.9% | 2026-Q1 |
| BlackRock, Inc. added | 1,101,981 | $2M | 1.5% | 2026-Q1 |
| WHITEBOX ADVISORS LLC added | 1,057,658 | $2M | 1.4% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 1,056,790 | $2M | 1.4% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC trimmed | 1,012,593 | $1M | 1.4% | 2026-Q1 |
| Solas Capital Management, LLC trimmed | 790,338 | $1M | 1.1% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 787,371 | $1M | 1.1% | 2026-Q1 |
| Benefit Street Partners LLC added | 787,371 | $1M | 1.1% | 2026-Q1 |
| GSA CAPITAL PARTNERS LLP added | 505,490 | $718K | 0.7% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 478,224 | $679K | 0.7% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 477,644 | $678K | 0.7% | 2026-Q1 |
| Verition Fund Management LLC added | 408,317 | $580K | 0.6% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 402,596 | $572K | 0.6% | 2026-Q1 |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC added | 388,849 | $552K | 0.5% | 2026-Q1 |
| AEGIS FINANCIAL CORP | 308,927 | $439K | 0.4% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 249,246 | $354K | 0.3% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 217,648 | $309K | 0.3% | 2026-Q1 |
| STATE STREET CORP | 216,113 | $307K | 0.3% | 2026-Q1 |
| UBS Group AG added | 174,070 | $247K | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 165,339 | $235K | 0.2% | 2026-Q1 |
| Empowered Funds, LLC added | 151,736 | $215K | 0.2% | 2026-Q1 |
| Cerity Partners LLC | 150,080 | $213K | 0.2% | 2026-Q1 |
| Merrion Investment Management Co, LLC | 150,000 | $213K | 0.2% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 140,803 | $200K | 0.2% | 2026-Q1 |
| Graham Capital Management, L.P. added | 135,587 | $193K | 0.2% | 2026-Q1 |
| NORTHERN TRUST CORP | 119,180 | $169K | 0.2% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 116,373 | $165K | 0.2% | 2026-Q1 |
| XTX Topco Ltd trimmed | 63,466 | $90K | 0.1% | 2026-Q1 |
| OPPENHEIMER & CO INC trimmed | 62,879 | $89K | 0.1% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC trimmed | 61,181 | $87K | 0.1% | 2026-Q1 |
| Assenagon Asset Management S.A. trimmed | 58,894 | $84K | 0.1% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL trimmed | 56,485 | $80K | 0.1% | 2026-Q1 |
| SHUFRO ROSE & CO LLC trimmed | 54,500 | $77K | 0.1% | 2026-Q1 |
| Engineers Gate Manager LP added | 51,989 | $74K | 0.1% | 2026-Q1 |
| Susquehanna Portfolio Strategies, LLC trimmed | 48,961 | $70K | 0.1% | 2026-Q1 |
| Invesco Ltd. added | 39,288 | $56K | 0.1% | 2026-Q1 |
| Net Worth Advisory Group trimmed | 32,581 | $46K | 0.0% | 2026-Q1 |
| Beacon Pointe Advisors, LLC | 31,819 | $45K | 0.0% | 2026-Q1 |
| R Squared Ltd added | 29,971 | $43K | 0.0% | 2026-Q1 |
| Boundary Creek Advisors LP trimmed | 2,333,375 | $8M | 7.9% | 2025-Q2 stale |
| Keeley-Teton Advisors, LLC | 599,601 | $4M | 3.5% | 2025-Q1 stale |
| Gates Capital Management, Inc. trimmed | 1,003,824 | $4M | 3.4% | 2025-Q2 stale |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC trimmed | 496,830 | $3M | 2.9% | 2025-Q1 stale |
| CenterBook Partners LP added | 395,125 | $2M | 2.3% | 2025-Q1 stale |
| Diameter Capital Partners LP new | 1,100,397 | $2M | 2.1% | 2025-Q4 stale |
| GABELLI FUNDS LLC new | 515,429 | $2M | 1.7% | 2025-Q2 stale |
| VANGUARD GROUP INC trimmed | 828,440 | $2M | 1.6% | 2025-Q4 stale |
| AQR CAPITAL MANAGEMENT LLC added | 251,694 | $881K | 0.8% | 2025-Q2 stale |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 124,020 | $763K | 0.7% | 2025-Q1 stale |
| ExodusPoint Capital Management, LP added | 87,277 | $537K | 0.5% | 2025-Q1 stale |
| TWO SIGMA INVESTMENTS, LP trimmed | 136,913 | $479K | 0.5% | 2025-Q2 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 72,993 | $449K | 0.4% | 2025-Q1 stale |
| Jump Financial, LLC trimmed | 153,666 | $443K | 0.4% | 2025-Q3 stale |
| ARISTEIA CAPITAL, L.L.C. trimmed | 69,650 | $428K | 0.4% | 2025-Q1 stale |
| Trexquant Investment LP trimmed | 120,274 | $421K | 0.4% | 2025-Q2 stale |
| AMERIPRISE FINANCIAL INC | 66,200 | $407K | 0.4% | 2025-Q1 stale |
| Cubist Systematic Strategies, LLC trimmed | 101,203 | $291K | 0.3% | 2025-Q3 stale |
| PDT Partners, LLC trimmed | 99,982 | $288K | 0.3% | 2025-Q3 stale |
| Semanteon Capital Management, LP new | 45,339 | $279K | 0.3% | 2025-Q1 stale |
| EntryPoint Capital, LLC added | 76,035 | $266K | 0.3% | 2025-Q2 stale |
| JANE STREET GROUP, LLC added | 125,171 | $248K | 0.2% | 2025-Q4 stale |
| FOX RUN MANAGEMENT, L.L.C. added | 37,514 | $231K | 0.2% | 2025-Q1 stale |
| WEALTHEDGE INVESTMENT ADVISORS, LLC new | 71,584 | $206K | 0.2% | 2025-Q3 stale |
| GAMCO INVESTORS, INC. ET AL trimmed | 68,795 | $198K | 0.2% | 2025-Q3 stale |
| State of Wyoming added | 53,656 | $188K | 0.2% | 2025-Q2 stale |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | 52,270 | $183K | 0.2% | 2025-Q2 stale |
| Magnetar Financial LLC new | 29,662 | $182K | 0.2% | 2025-Q1 stale |
| Brevan Howard Capital Management LP added | 59,007 | $170K | 0.2% | 2025-Q3 stale |
| Aigen Investment Management, LP added | 25,239 | $155K | 0.1% | 2025-Q1 stale |
| HRT FINANCIAL LP trimmed | 25,074 | $154K | 0.1% | 2025-Q1 stale |
| INCEPTIONR LLC new | 21,429 | $132K | 0.1% | 2025-Q1 stale |
| ALGERT GLOBAL LLC | 45,180 | $130K | 0.1% | 2025-Q3 stale |
| SEI INVESTMENTS CO | 20,100 | $124K | 0.1% | 2025-Q1 stale |
| SIMPLEX TRADING, LLC trimmed | 18,057 | $111K | 0.1% | 2025-Q1 stale |
| Qube Research & Technologies Ltd trimmed | 51,970 | $103K | 0.1% | 2025-Q4 stale |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 42,610 | $96K | 0.1% | 2025-Q4 stale |
| Point72 Asia (Singapore) Pte. Ltd. added | 26,764 | $94K | 0.1% | 2025-Q2 stale |
| GAMMA Investing LLC added | 547 | $89K | 0.1% | 2025-Q1 stale |
| IEQ CAPITAL, LLC new | 24,302 | $85K | 0.1% | 2025-Q2 stale |
| Pictet Asset Management Holding SA trimmed | 23,717 | $83K | 0.1% | 2025-Q2 stale |
| Olympiad Research LP new | 13,159 | $81K | 0.1% | 2025-Q1 stale |
| Quadrature Capital Ltd added | 37,009 | $73K | 0.1% | 2025-Q4 stale |
| Corton Capital Inc. added | 19,459 | $68K | 0.1% | 2025-Q2 stale |
| PRELUDE CAPITAL MANAGEMENT, LLC trimmed | 10,527 | $65K | 0.1% | 2025-Q1 stale |
| HSBC HOLDINGS PLC | 22,424 | $64K | 0.1% | 2025-Q3 stale |
| TWO SIGMA SECURITIES, LLC trimmed | 15,749 | $55K | 0.1% | 2025-Q2 stale |
| ACADIAN ASSET MANAGEMENT LLC | 26,868 | $52K | 0.1% | 2025-Q4 stale |
| Walleye Capital LLC added | 17,069 | $49K | 0.0% | 2025-Q3 stale |
| Banco BTG Pactual S.A. new | 24,600 | $49K | 0.0% | 2025-Q4 stale |
| RAYMOND JAMES FINANCIAL INC added | 16,703 | $48K | 0.0% | 2025-Q3 stale |
| WOLVERINE ASSET MANAGEMENT LLC added | 16,101 | $46K | 0.0% | 2025-Q3 stale |
| MILLENNIUM MANAGEMENT LLC trimmed | 22,158 | $44K | 0.0% | 2025-Q4 stale |
| CITIGROUP INC trimmed | 17,556 | $35K | 0.0% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP trimmed | 11,600 | $33K | 0.0% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.