First Merchants Corporation (FRME) Ownership
FRME ownership summary
as of October 18, 2026- Institutions
- 75.5% of shares outstanding
- Insiders
- 2.10% of shares outstanding
- Shares outstanding
- 62.8M
- Float
- 61.6M shares available to trade
- Short interest
- 4.39% 2.4M shares short
- Days to cover
- 4.85 short interest up 2.1% vs prior month
- Institutions 75.47%
- Insiders 2.10%
- Other investors 22.43%
FRME top institutional holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | BlackRock Inc | 8.48% | 5.3M | $210.9M | +425,372 (+8.7%) | June 30, 2026 |
| 2 | Dimensional Fund Advisors, Inc. | 5.88% | 3.7M | $146.1M | +93,759 (+2.6%) | June 30, 2026 |
| 3 | Vanguard Portfolio Management, LLC | 5.42% | 3.4M | $134.8M | +43,798 (+1.3%) | June 30, 2026 |
| 4 | Vanguard Capital Management, LLC | 4.33% | 2.7M | $107.7M | −9,931 (−0.4%) | June 30, 2026 |
| 5 | State Street Corp | 4.06% | 2.6M | $101.0M | +311,540 (+13.9%) | June 30, 2026 |
| 6 | Earnest Partners LLC | 3.46% | 2.2M | $86.1M | −81,566 (−3.6%) | June 30, 2026 |
| 7 | Geode Capital Management, LLC | 2.66% | 1.7M | $66.2M | +97,210 (+6.2%) | June 30, 2026 |
| 8 | Nuveen, LLC | 1.69% | 1.1M | $41.9M | +15,553 (+1.5%) | June 30, 2026 |
| 9 | Victory Capital Management Inc. | 1.66% | 1.0M | $41.3M | +47,733 (+4.8%) | June 30, 2026 |
| 10 | Systematic Financial Management LP | 1.35% | 850K | $33.7M | −11,590 (−1.3%) | June 30, 2026 |
| 11 | First Trust Advisors L.P. | 1.24% | 776K | $30.7M | +50,829 (+7.0%) | June 30, 2026 |
| 12 | Charles Schwab Investment Management Inc | 1.13% | 712K | $28.2M | −7,515 (−1.0%) | June 30, 2026 |
| 13 | FJ Capital Management LLC | 1.13% | 711K | $28.2M | — | June 30, 2026 |
| 14 | The Goldman Sachs Group Inc | 1.11% | 697K | $27.6M | −440,130 (−38.7%) | June 30, 2026 |
| 15 | Wellington Management Company LLP | 1.11% | 697K | $27.6M | −310,614 (−30.8%) | June 30, 2026 |
| 16 | PL Capital Advisors, LLC | 1.09% | 686K | $27.2M | — | June 30, 2026 |
| 17 | Northern Trust Corp | 1.09% | 684K | $27.1M | +30,629 (+4.7%) | June 30, 2026 |
| 18 | Qube Research & Technologies | 1.03% | 649K | $25.7M | −1,555 (−0.2%) | June 30, 2026 |
| 19 | JPMorgan Chase & Co | 1.02% | 640K | $25.3M | +109,891 (+20.7%) | June 30, 2026 |
| 20 | William Blair Investment Management, LLC | 0.99% | 622K | $24.6M | −167,439 (−21.2%) | June 30, 2026 |
Value at the latest close. Change = shares bought or sold in the latest quarterly filing (13F). In the top 20, 10 holders added 1.2M shares and 8 cut 1.0M.
FRME top mutual fund and ETF holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | Vanguard MStar Total Stk Mkt Idx Invest | 3.05% | 1.9M | $75.8M | −5,058 (−0.3%) | August 31, 2026 |
| 2 | iShares Russell 2000 ETF | 2.66% | 1.7M | $66.1M | +30,475 (+1.9%) | September 30, 2026 |
| 3 | Vanguard Small Cap Index | 2.14% | 1.3M | $53.2M | −33,126 (−2.4%) | September 30, 2026 |
| 4 | Harbor Small Cap Value Instl | 1.60% | 1.0M | $39.7M | +183,872 (+22.5%) | September 30, 2026 |
| 5 | Vanguard MStar Small Cap Value Index | 1.39% | 874K | $34.6M | −824 (−0.1%) | September 30, 2026 |
| 6 | DFA US Small Cap Value I | 1.34% | 841K | $33.3M | — | August 31, 2026 |
| 7 | Fidelity Small Cap Index | 1.11% | 698K | $27.7M | +4,460 (+0.6%) | July 31, 2026 |
| 8 | iShares Russell 2000 Value ETF | 0.96% | 603K | $23.9M | +914 (+0.2%) | September 30, 2026 |
| 9 | State Street® SPDR® S&PRgnllBkgETF | 0.85% | 534K | $21.2M | +15,968 (+3.1%) | September 30, 2026 |
| 10 | CREF Total Global Stock Account R3 | 0.68% | 430K | $17.0M | +30,343 (+7.6%) | August 31, 2026 |
| 11 | Fidelity Enhanced Small Cap Core ETF | 0.68% | 425K | $16.8M | +888 (+0.2%) | September 30, 2026 |
| 12 | Dimensional US Targeted Value ETF | 0.65% | 408K | $16.2M | +7 (+0.0%) | September 30, 2026 |
| 13 | DFA US Targeted Value I | 0.62% | 392K | $15.5M | — | August 31, 2026 |
| 14 | Dimensional US Small Cap Value ETF | 0.58% | 365K | $14.5M | — | September 24, 2026 |
| 15 | Vanguard Russell 2000 ETF | 0.58% | 364K | $14.4M | −2,376 (−0.6%) | September 30, 2026 |
| 16 | State Street® SPDR® S&P® Bank ETF | 0.57% | 359K | $14.2M | −15,460 (−4.1%) | September 30, 2026 |
| 17 | Vanguard Dividend Appreciation ETF | 0.57% | 355K | $14.1M | +5,772 (+1.7%) | September 30, 2026 |
| 18 | Schwab US Small-Cap ETF™ | 0.53% | 331K | $13.1M | +216 (+0.1%) | September 30, 2026 |
| 19 | Fidelity Extended Market Index | 0.49% | 309K | $12.2M | −1,660 (−0.5%) | August 31, 2026 |
| 20 | EA Bridgeway Omni Small-Cap Value ETF | 0.44% | 278K | $11.0M | — | September 30, 2026 |
Funds report holdings monthly or quarterly; dates differ by fund.
FRME insider transactions
latest 2| Date | Name | Transaction | Price | Shares | Value |
|---|---|---|---|---|---|
| 2026-02-26 | Larry W Myers | Sell | $41.50 | 5,000 | $207,500 |
| 2026-02-06 | Eva D Scurlock | Sell | $42.29 | 3,227 | $136,470 |
Reported trades by company officers, directors and other filers (including disclosures by members of Congress where EODHD lists them). "—" where the filing gives no share count.
FRME shares outstanding
Year-end shares outstanding, adjusted for splits.
Who owns FRME
Institutional investors own 75.5% of First Merchants's shares and insiders 2.10%. The largest holder is BlackRock Inc with 8.48% of the shares (5.3M), as of June 30, 2026. Among the top 20 institutions, 10 added shares and 8 reduced their stake in the latest filings. Short interest is 4.39% of the float, or 4.85 days of average trading volume. The share count rose 53.9% since 2014.
Related: FRME analyst forecast, FRME key metrics, FRME dividend history. See the FRME stock overview for the latest quote and news.
FRME ownership FAQ
Who owns the most First Merchants stock?
The largest shareholders of First Merchants are BlackRock Inc (8.48%), Dimensional Fund Advisors, Inc. (5.88%), Vanguard Portfolio Management, LLC (5.42%), Vanguard Capital Management, LLC (4.33%), State Street Corp (4.06%).
What percentage of First Merchants is owned by institutions?
Institutions hold 75.5% of First Merchants's shares outstanding; insiders hold 2.10%.
Which funds own First Merchants?
The largest fund holders of First Merchants are Vanguard MStar Total Stk Mkt Idx Invest (3.05%), iShares Russell 2000 ETF (2.66%), Vanguard Small Cap Index (2.14%), Harbor Small Cap Value Instl (1.60%), Vanguard MStar Small Cap Value Index (1.39%).
What is First Merchants's short interest?
2.4M shares of First Merchants were sold short, 4.39% of the float; at the average daily volume it would take 4.85 days to cover.
Are insiders buying or selling First Merchants?
Of the latest 2 reported insider transactions in First Merchants (since February 6, 2026), 0 were purchases and 2 were sales.
How many shares of First Merchants are outstanding?
First Merchants has 62.8M shares outstanding, of which 61.6M are in the public float.