Merchants Bancorp
Ownership
Ownership Structure
Who owns Merchants Bancorp (MBIN)? This page shows the largest institutions and funds, the ownership structure and the latest insider transactions. 55.2% of the shares are freely tradable; institutional investors hold 99.9%.
Largest Shareholders
Institutions
| Name | Stake (%) | Shares | Change (%) | Date |
|---|---|---|---|---|
| Elser Financial Planning, Inc | 58.36 | 26,808,625 | -0.6 | 06/30/2026 |
| BlackRock Inc | 8.82 | 4,050,918 | +115.3 | 03/31/2026 |
| Dimensional Fund Advisors, Inc. | 3.98 | 1,827,144 | +3.9 | 06/30/2026 |
| Delaware Management Holdings Inc | 2.38 | 1,093,004 | -1.6 | 03/31/2026 |
| State Street Corp | 2.25 | 1,034,632 | +80.2 | 03/31/2026 |
| Vanguard Capital Management, LLC | 2.18 | 1,000,776 | +0.0 | 03/31/2026 |
| American Century Companies Inc | 1.82 | 837,052 | +12.7 | 06/30/2026 |
| Doma Perpetual Capital Management LLC | 1.76 | 810,082 | -27.4 | 06/30/2026 |
Funds
| Name | Stake (%) | Shares | Change (%) | Date |
|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 3.90 | 1,791,019 | +0.0 | 08/31/2026 |
| Avantis US Small Cap Value ETF | 1.60 | 736,834 | +0.0 | 08/31/2026 |
Largest reported positions according to regulatory filings; stake as a percentage of shares outstanding, change versus the previous filing. Source: fundamentals data.
Insider holdings
| Person | Role | Shares | Value | As of | Type |
|---|---|---|---|---|---|
| Kaercher Julia L. | Director | 727,103 | 37,663,935 $ | Jul 30, 2026 | indirect |
| Petrie Michael F. | Chairman and CEO | 727,013 | 37,659,273 $ | Jul 30, 2026 | indirect |
| Dury Michael R. | CEO of Merchants Capital | 120,702 | 6,252,364 $ | Aug 5, 2026 | direct |
| O'Brien Patrick D. | Director | 120,049 | 6,218,538 $ | Aug 20, 2026 | direct |
| Juster Andrew | Director | 26,500 | 1,372,700 $ | Aug 20, 2026 | direct |
| Dinwiddie Thomas | Director | 23,094 | 1,196,269 $ | Aug 20, 2026 | direct |
| Sellers Anne E. | Director | 12,987 | 672,727 $ | Aug 20, 2026 | direct |
| Catchings Tamika | Director | 8,094 | 419,269 $ | Aug 20, 2026 | direct |
| Shaffer Mark E. | Director | 709 | 36,726 $ | Aug 20, 2026 | direct |
| Curless Michael S | Director | 709 | 36,726 $ | Aug 20, 2026 | direct |
Holdings as of each person's most recent SEC Form 4 filing — excluding options and RSUs, which are not shares yet. Holdings may have changed between two filings.
Insiders
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 20, 2026 | Shaffer Mark E. | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | Dinwiddie Thomas | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | Catchings Tamika | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | O'Brien Patrick D. | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | Sellers Anne E. | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | Curless Michael S | Director | Other | 328 | 53.50 | 17,548 |
| Aug 20, 2026 | Juster Andrew | Director | Other | 328 | 53.50 | 17,548 |
| Aug 5, 2026 | Dury Michael R. | CEO of Merchants Capital | Other | 3,700 | 0.00 | – |
| Jul 30, 2026 | Kaercher Julia L. | Director | Sell | 9,000 | 55.20 | 496,800 |
| Jul 30, 2026 | Petrie Michael F. | Chairman and CEO | Sell | 9,000 | 55.20 | 496,800 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character. View all insider transactions →
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.