Merchants Bancorp (MBIN) Ownership
MBIN ownership summary
as of October 17, 2026- Institutions
- 41.1% of shares outstanding
- Insiders
- 45.95% of shares outstanding
- Shares outstanding
- 45.9M
- Float
- 25.4M shares available to trade
- Short interest
- 7.75% 2.0M shares short
- Days to cover
- 8.51 short interest down 23.1% vs prior month
- Institutions 41.07%
- Insiders 45.95%
- Other investors 12.98%
MBIN top institutional holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | Elser Financial Planning, Inc | 58.36% | 26.8M | $1.31B | −174,476 (−0.6%) | June 30, 2026 |
| 2 | BlackRock Inc | 8.94% | 4.1M | $200.2M | +54,275 (+1.3%) | June 30, 2026 |
| 3 | Dimensional Fund Advisors, Inc. | 3.98% | 1.8M | $89.1M | +68,159 (+3.9%) | June 30, 2026 |
| 4 | State Street Corp | 2.32% | 1.1M | $52.0M | +32,340 (+3.1%) | June 30, 2026 |
| 5 | Delaware Management Holdings Inc | 2.27% | 1.0M | $51.0M | −48,012 (−4.4%) | June 30, 2026 |
| 6 | Vanguard Capital Management, LLC | 2.21% | 1.0M | $49.5M | +15,037 (+1.5%) | June 30, 2026 |
| 7 | American Century Companies Inc | 1.82% | 837K | $40.8M | +94,417 (+12.7%) | June 30, 2026 |
| 8 | Doma Perpetual Capital Management LLC | 1.76% | 810K | $39.5M | −305,512 (−27.4%) | June 30, 2026 |
| 9 | Geode Capital Management, LLC | 1.61% | 740K | $36.1M | +14,891 (+2.1%) | June 30, 2026 |
| 10 | Royce & Associates, LP | 1.15% | 527K | $25.7M | −40,220 (−7.1%) | June 30, 2026 |
| 11 | Vanguard Portfolio Management, LLC | 1.06% | 488K | $23.8M | +23,558 (+5.1%) | June 30, 2026 |
| 12 | Morgan Stanley - Brokerage Accounts | 0.67% | 309K | $15.1M | +10,715 (+3.6%) | June 30, 2026 |
| 13 | Northern Trust Corp | 0.66% | 302K | $14.7M | +14,709 (+5.1%) | June 30, 2026 |
| 14 | Hotchkis & Wiley Capital Management LLC | 0.65% | 298K | $14.6M | −3,970 (−1.3%) | June 30, 2026 |
| 15 | Banc Funds Co LLC | 0.62% | 285K | $13.9M | +4,000 (+1.4%) | June 30, 2026 |
| 16 | Basswood Capital Management LLC | 0.60% | 274K | $13.4M | — | June 30, 2026 |
| 17 | Charles Schwab Investment Management Inc | 0.55% | 253K | $12.3M | +4,466 (+1.8%) | June 30, 2026 |
| 18 | Amvescap Plc. | 0.52% | 240K | $11.7M | +85,328 (+55.0%) | June 30, 2026 |
| 19 | Bank of New York Mellon Corp | 0.51% | 234K | $11.4M | −1,768 (−0.7%) | June 30, 2026 |
| 20 | Valeo Financial Advisors, LLC | 0.49% | 227K | $11.1M | −8,102 (−3.4%) | June 30, 2026 |
Value at the latest close. Change = shares bought or sold in the latest quarterly filing (13F). In the top 20, 12 holders added 422K shares and 7 cut 582K.
MBIN top mutual fund and ETF holders
20 largest| # | Holder | % of shares | Shares | Value | Change | Reported |
|---|---|---|---|---|---|---|
| 1 | iShares Core S&P Small-Cap ETF | 3.27% | 1.5M | $73.3M | +390 (+0.0%) | September 30, 2026 |
| 2 | Avantis US Small Cap Value ETF | 1.63% | 749K | $36.5M | +432 (+0.1%) | September 30, 2026 |
| 3 | iShares Russell 2000 ETF | 1.49% | 683K | $33.3M | +15,344 (+2.3%) | September 30, 2026 |
| 4 | Nomura Small Cap Value A | 1.47% | 677K | $33.0M | — | August 31, 2026 |
| 5 | Vanguard MStar Total Stk Mkt Idx Invest | 1.43% | 658K | $32.1M | — | August 31, 2026 |
| 6 | Nomura VIP Small Cap Value Series Std | 0.78% | 357K | $17.4M | — | August 31, 2026 |
| 7 | Royce Small-Cap Total Return Invmt | 0.66% | 302K | $14.7M | −38,445 (−11.3%) | June 30, 2026 |
| 8 | Fidelity Small Cap Index | 0.60% | 277K | $13.5M | +2,409 (+0.9%) | July 31, 2026 |
| 9 | State Street SPDR Port S&P 600 Sm CpETF | 0.50% | 232K | $11.3M | — | September 30, 2026 |
| 10 | Dimensional US Targeted Value ETF | 0.49% | 224K | $10.9M | +42 (+0.0%) | September 30, 2026 |
| 11 | DFA US Targeted Value I | 0.48% | 220K | $10.7M | +5,201 (+2.4%) | August 31, 2026 |
| 12 | iShares S&P Small-Cap 600 Value ETF | 0.47% | 214K | $10.4M | — | September 30, 2026 |
| 13 | Dimensional US Small Cap Value ETF | 0.44% | 200K | $9.8M | +112 (+0.1%) | September 24, 2026 |
| 14 | DFA US Small Cap Value I | 0.43% | 197K | $9.6M | +12,913 (+7.0%) | August 31, 2026 |
| 15 | DFA US Small Cap I | 0.43% | 196K | $9.5M | — | August 31, 2026 |
| 16 | Invesco S&P SmallCap Momentum ETF | 0.40% | 185K | $9.0M | — | September 30, 2026 |
| 17 | iShares Russell 2000 Value ETF | 0.34% | 158K | $7.7M | +240 (+0.2%) | September 30, 2026 |
| 18 | Dimensional US Small Cap ETF | 0.32% | 148K | $7.2M | — | September 30, 2026 |
| 19 | Vanguard Russell 2000 ETF | 0.32% | 146K | $7.1M | +3,503 (+2.5%) | August 31, 2026 |
| 20 | Fidelity Extended Market Index | 0.31% | 143K | $7.0M | −3,512 (−2.4%) | August 31, 2026 |
Funds report holdings monthly or quarterly; dates differ by fund.
MBIN insider transactions
latest 2| Date | Name | Transaction | Price | Shares | Value |
|---|---|---|---|---|---|
| 2026-02-10 | Martin A Schroeter | Sell | $46.06 | 5,500 | $253,330 |
| 2025-08-22 | Darin L Thomas | Buy | $29.71 | 3,353 | $99,618 |
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.
MBIN shares outstanding
Year-end shares outstanding, adjusted for splits.
Who owns MBIN
Institutional investors own 41.1% of Merchants Bancorp's shares and insiders 45.95%. The largest holder is Elser Financial Planning, Inc with 58.36% of the shares (26.8M), as of June 30, 2026. Among the top 20 institutions, 12 added shares and 7 reduced their stake in the latest filings. Short interest is 7.75% of the float, or 8.51 days of average trading volume. The share count rose 43.7% since 2015.
Related: MBIN analyst forecast, MBIN key metrics, MBIN dividend history. See the MBIN stock overview for the latest quote and news.
MBIN ownership FAQ
Who owns the most Merchants Bancorp stock?
The largest shareholders of Merchants Bancorp are Elser Financial Planning, Inc (58.36%), BlackRock Inc (8.94%), Dimensional Fund Advisors, Inc. (3.98%), State Street Corp (2.32%), Delaware Management Holdings Inc (2.27%).
What percentage of Merchants Bancorp is owned by institutions?
Institutions hold 41.1% of Merchants Bancorp's shares outstanding; insiders hold 45.95%.
Which funds own Merchants Bancorp?
The largest fund holders of Merchants Bancorp are iShares Core S&P Small-Cap ETF (3.27%), Avantis US Small Cap Value ETF (1.63%), iShares Russell 2000 ETF (1.49%), Nomura Small Cap Value A (1.47%), Vanguard MStar Total Stk Mkt Idx Invest (1.43%).
What is Merchants Bancorp's short interest?
2.0M shares of Merchants Bancorp were sold short, 7.75% of the float; at the average daily volume it would take 8.51 days to cover.
Are insiders buying or selling Merchants Bancorp?
Of the latest 2 reported insider transactions in Merchants Bancorp (since August 22, 2025), 1 were purchases and 1 were sales.
How many shares of Merchants Bancorp are outstanding?
Merchants Bancorp has 45.9M shares outstanding, of which 25.4M are in the public float.