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FIRST MERCHANTS CORP

200 E JACKSON ST PO BOX 792, MUNCIE, IN 47308-0792 • 7657471500

Q3 2025 · Filed 2025-10-22
Market Value
$2.2B
+4.4%
Holdings
312
-5
New Purchases
11
Added To
42
Closed
9
Reduced
201
Top 10 Concentration
27.0%
Turnover
6.4%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 2.16% 1.68% +0.48% $47M
VONV 0.36% 0.00% +0.36% $8M
VOO 1.53% 1.21% +0.32% $33M
AAPL 2.42% 2.12% +0.31% $53M
VFIAX 6.03% 5.78% +0.25% $131M
SNPS 0.23% 0.00% +0.23% $5M
PZIEX 0.80% 0.61% +0.19% $17M
AVGO 2.50% 2.32% +0.18% $54M
TSM 0.19% 0.01% +0.18% $4M
SFNNX 2.02% 1.86% +0.16% $44M
SAP 0.14% 0.00% +0.14% $3M
LRCX 0.86% 0.74% +0.12% $19M
AVUV 0.71% 0.60% +0.11% $15M
MVCKX 0.95% 0.84% +0.11% $21M
VIMAX 2.97% 2.87% +0.10% $64M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GVI 0.13% 0.39% -0.26% $3M
IWD 0.00% 0.22% -0.22% $0
NOW 0.38% 0.56% -0.18% $8M
ANSS 0.00% 0.18% -0.18% $0
IVE 0.82% 1.00% -0.18% $18M
ACN 0.48% 0.64% -0.16% $10M
SYK 0.95% 1.10% -0.14% $21M
V 0.96% 1.07% -0.11% $21M
FTNT 0.36% 0.47% -0.11% $8M
VFSUX 0.62% 0.72% -0.10% $14M
LLY 1.78% 1.88% -0.10% $39M
ADBE 0.16% 0.26% -0.10% $4M
HON 0.49% 0.59% -0.09% $11M
SCHD 0.32% 0.41% -0.09% $7M
COST 0.72% 0.80% -0.09% $16M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 64.6%
Technology 12.1%
Healthcare 5.3%
Consumer Cyclical 4.4%
Communication Services 3.6%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 63 $856M 39.5%
Large Cap 206 $1.1B 51.7%
Mid Cap 33 $175M 8.1%
Small Cap 8 $17M 0.8%
Micro Cap 2 $351K 0.0%

Portfolio Analytics

Avg Market Cap
$240.7B
Median Market Cap
$72.1B
Avg P/E
35.2
Median P/E
25.6
Avg Dividend Yield
0.02%
Avg Beta
0.91
# Stocks
154
# ETFs / Funds
158

Top Holdings (312 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VFIAX 6.03% 211,947 $131M $617.24 $11M +2,114 +1.0%
2 VIMAX 2.97% 177,022 $64M $363.73 $5M +5,043 +2.9%
3 BSV 2.83% 778,509 $61M $78.91 $2M +29,056 +3.9%
4 AVGO 2.50% 164,617 $54M $329.91 $6M -10,689 -6.1%
5 MSFT 2.45% 102,568 $53M $517.95 $649K -2,930 -2.8%
6 AAPL 2.42% 206,737 $53M $254.63 $9M -7,989 -3.7%
7 GOOGL 2.16% 193,264 $47M $243.10 $12M -5,048 -2.5%
8 SFNNX 2.02% 3,252,027 $44M $13.50 $5M +171,991 +5.6%
9 FCNTX 1.80% 1,582,495 $39M $24.76 $914K -57,805 -3.5%
10 LLY 1.78% 50,675 $39M $763.00 -$421K +534 +1.1%
11 VEIRX 1.76% 390,540 $38M $97.99 $2M -2,293 -0.6%
12 IYW 1.55% 171,885 $34M $195.86 $2M -9,964 -5.5%
13 VOO 1.53% 54,089 $33M $612.38 $8M +9,837 +22.2%
14 AGG 1.52% 329,165 $33M $100.25 $82K -2,657 -0.8%
15 IVW 1.48% 266,104 $32M $120.72 $3M +1,584 +0.6%
16 NVDA 1.37% 159,270 $30M $186.58 $3M -11,550 -6.8%
17 VBIRX 1.32% 2,773,869 $29M $10.32 -$34K -11,378 -0.4%
18 APH 1.30% 227,927 $28M $123.75 $3M -31,190 -12.0%
19 AMZN 1.29% 127,825 $28M $219.57 $12K -49 -0.0%
20 VGT 1.28% 37,332 $28M $746.63 $2M -1,277 -3.3%
21 IJR 1.22% 223,575 $27M $118.83 $2M -4,478 -2.0%
22 JPM 1.18% 81,273 $26M $315.43 $964K -3,829 -4.5%
23 JMGRX 1.18% 169,203 $26M $150.86 $3M +13,377 +8.6%
24 VSMAX 1.17% 209,291 $25M $121.81 $652K -9,382 -4.3%
25 VWILX 1.04% 184,014 $23M $123.20 $3M +13,205 +7.7%
26 BIV 1.04% 289,280 $23M $78.09 $921K +9,107 +3.2%
27 V 0.96% 61,137 $21M $341.38 -$1M -1,760 -2.8%
28 SYK 0.95% 56,054 $21M $369.67 -$2M -1,637 -2.8%
29 MVCKX 0.95% 617,740 $21M $33.43 $3M +69,954 +12.8%
30 FRME 0.94% 539,754 $20M $37.70 -$323K +28 +0.0%
31 VIGAX 0.87% 76,197 $19M $247.00 $1M -981 -1.3%
32 LRCX 0.86% 139,324 $19M $133.90 $3M -17,949 -11.4%
33 WMT 0.83% 174,806 $18M $103.06 $704K -2,243 -1.3%
34 IVE 0.82% 85,852 $18M $206.51 -$3M -20,086 -19.0%
35 WCMIX 0.81% 635,450 $18M $27.57 -$327K -17,290 -2.6%
36 PZIEX 0.80% 1,148,420 $17M $15.17 $5M +218,359 +23.5%
37 VBTLX 0.74% 1,645,953 $16M $9.77 $111K -3,791 -0.2%
38 MFAIX 0.74% 580,946 $16M $27.47 $751K +39,731 +7.3%
39 VWIUX 0.73% 1,158,486 $16M $13.69 $978K +50,422 +4.5%
40 LOW 0.73% 63,058 $16M $251.31 $1M -2,274 -3.5%
41 COST 0.72% 16,779 $16M $925.63 -$1M -117 -0.7%
42 AVUV 0.71% 155,352 $15M $99.53 $3M +17,999 +13.1%
43 TJX 0.70% 104,491 $15M $144.54 $2M -1,235 -1.2%
44 DODIX 0.68% 1,146,093 $15M $12.82 -$559K -60,546 -5.0%
45 IEFA 0.66% 163,487 $14M $87.31 $1M +5,805 +3.7%
46 META 0.64% 18,960 $14M $734.38 $215K +386 +2.1%
47 IJJ 0.63% 105,963 $14M $129.72 -$495K -9,271 -8.1%
48 GSY 0.63% 271,782 $14M $50.23 -$431K -9,102 -3.2%
49 VFSUX 0.62% 1,285,245 $14M $10.52 -$1M -148,011 -10.3%
50 IJK 0.61% 138,572 $13M $95.89 $287K -4,327 -3.0%
51 ADP 0.61% 44,953 $13M $293.50 -$1M -1,696 -3.6%
52 BLK 0.60% 11,121 $13M $1,165.87 $709K -560 -4.8%
53 ABBV 0.60% 55,992 $13M $231.54 $2M -1,137 -2.0%
54 SPY 0.57% 18,550 $12M $666.18 $425K -763 -4.0%
55 WCMEX 0.56% 630,980 $12M $19.36 $2M +74,503 +13.4%
56 CB 0.56% 43,146 $12M $282.25 -$607K -981 -2.2%
57 JNJ 0.55% 64,178 $12M $185.42 $2M -1,241 -1.9%
58 SCHW 0.52% 118,761 $11M $95.47 $77K -4,662 -3.8%
59 ORLY 0.51% 102,601 $11M $107.81 $2M -274 -0.3%
60 VVIAX 0.51% 151,398 $11M $72.75 $302K -3,964 -2.5%
61 HON 0.49% 50,888 $11M $210.50 -$2M -1,643 -3.1%
62 ACN 0.48% 41,910 $10M $246.60 -$3M -2,364 -5.3%
63 HD 0.47% 24,997 $10M $405.19 $425K -1,469 -5.5%
64 NOMIX 0.45% 450,852 $10M $21.88 -$136K -31,592 -6.5%
65 IWP 0.45% 69,012 $10M $142.41 $460K +1,459 +2.2%
66 MDY 0.43% 15,694 $9M $596.03 $249K -379 -2.4%
67 PG 0.43% 60,633 $9M $153.65 -$663K -2,002 -3.2%
68 XLK 0.42% 32,410 $9M $281.86 $657K -1,071 -3.2%
69 LIN 0.42% 18,977 $9M $475.00 -$27K -292 -1.5%
70 XLV 0.40% 62,615 $9M $139.17 -$172K -3,311 -5.0%
71 BRO 0.40% 91,904 $9M $93.79 -$1M +849 +0.9%
72 NOW 0.38% 8,929 $8M $920.28 -$3M -2,464 -21.6%
73 VMLUX 0.37% 728,443 $8M $11.01 -$31K -10,185 -1.4%
74 VONV 0.36% 87,500 $8M $89.37 +87,500 NEW
75 FTNT 0.36% 92,925 $8M $84.08 -$2M +1,290 +1.4%
76 PDGIX 0.36% 90,865 $8M $85.36 -$997K -15,464 -14.5%
77 BRK-B 0.35% 15,023 $8M $502.74 -$96K -722 -4.6%
78 MCD 0.34% 24,408 $7M $303.89 $377K +311 +1.3%
79 VHYAX 0.34% 173,718 $7M $42.52 $192K -5,193 -2.9%
80 PEP 0.34% 52,244 $7M $140.44 $108K -2,502 -4.6%
81 BAESY 0.33% 65,230 $7M $110.88 $795K +2,978 +4.8%
82 TXN 0.32% 38,371 $7M $183.73 -$959K -204 -0.5%
83 NEE 0.32% 92,601 $7M $75.49 $311K -3,623 -3.8%
84 DHR 0.32% 34,880 $7M $198.26 -$491K -2,614 -7.0%
85 SCHD 0.32% 251,042 $7M $27.30 -$2M -70,063 -21.8%
86 XLY 0.31% 28,477 $7M $239.64 $24K -2,811 -9.0%
87 SPGI 0.31% 13,881 $7M $486.71 -$522K +79 +0.6%
88 IWR 0.31% 68,902 $7M $96.55 -$23K -3,680 -5.1%
89 RTX 0.31% 39,681 $7M $167.33 $659K -1,281 -3.1%
90 EOG 0.31% 59,161 $7M $112.12 -$610K -1,397 -2.3%
91 VITAX 0.30% 17,098 $7M $382.38 $655K -234 -1.4%
92 XOM 0.30% 57,308 $6M $112.75 $208K -698 -1.2%
93 LHX 0.29% 20,915 $6M $305.41 $531K -2,434 -10.4%
94 XLP 0.29% 80,379 $6M $78.37 -$600K -4,828 -5.7%
95 CMI 0.29% 14,781 $6M $422.37 $1M -848 -5.4%
96 CVX 0.29% 40,047 $6M $155.29 $120K -2,549 -6.0%
97 ABT 0.28% 44,655 $6M $133.94 -$698K -4,453 -9.1%
98 AME 0.27% 31,119 $6M $188.00 $333K +630 +2.1%
99 ECL 0.27% 21,328 $6M $273.86 $56K -141 -0.7%
100 CPRT 0.27% 128,780 $6M $44.97 -$501K +543 +0.4%

New Positions

SymbolValue% Port
VONV $8M 0.36%
SNPS $5M 0.23%
SAP $3M 0.14%
TQQQ $1M 0.05%
FMAGX $556K 0.03%
DUK $227K 0.01%
VWO $225K 0.01%
FMHTX $207K 0.01%
GPC $205K 0.01%
ITOT $202K 0.01%
GE $202K 0.01%

Sold Out Positions

SymbolValue% Port
NKE —%
EW —%
TROW —%
BNDX —%
CPXIX —%
PFF —%
VTABX —%
IWD —%
ANSS —%
View SEC EDGAR Filings for FIRST MERCHANTS CORP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms