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FIRST MERCHANTS CORP

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

Q4 2025 · Filed 2026-01-12
Market Value
$2.2B
+1.6%
Holdings
316
+4
New Purchases
13
Added To
95
Closed
10
Reduced
149
Top 10 Concentration
28.0%
Turnover
7.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
LLY 2.46% 1.78% +0.68% $54M
GOOGL 2.66% 2.16% +0.49% $59M
LRCX 1.07% 0.86% +0.21% $24M
BLL 0.18% 0.08% +0.10% $4M
SFNNX 2.12% 2.02% +0.10% $47M
AVUV 0.81% 0.71% +0.10% $18M
VFIAX 6.12% 6.03% +0.10% $135M
AME 0.36% 0.27% +0.09% $8M
AAPL 2.51% 2.42% +0.08% $55M
SPGI 0.39% 0.31% +0.08% $9M
XLV 0.48% 0.40% +0.08% $11M
AMZN 1.37% 1.29% +0.08% $30M
VOO 1.60% 1.53% +0.07% $35M
PZIEX 0.87% 0.80% +0.07% $19M
ACN 0.54% 0.48% +0.06% $12M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AVGO 2.35% 2.50% -0.15% $52M
FCNTX 1.65% 1.80% -0.15% $36M
CMCSA 0.10% 0.25% -0.15% $2M
MSFT 2.31% 2.45% -0.14% $51M
VEIRX 1.65% 1.76% -0.11% $36M
ZTS 0.09% 0.18% -0.09% $2M
ADP 0.52% 0.61% -0.09% $11M
WCMIX 0.72% 0.81% -0.09% $16M
VWNAX 0.15% 0.24% -0.09% $3M
ADBE 0.08% 0.16% -0.08% $2M
NOMIX 0.37% 0.45% -0.08% $8M
VPMAX 0.07% 0.15% -0.08% $2M
HD 0.39% 0.47% -0.08% $9M
GSY 0.55% 0.63% -0.08% $12M
ORLY 0.44% 0.51% -0.07% $10M

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 66 $900M 40.8%
Large Cap 205 $1.1B 50.4%
Mid Cap 33 $177M 8.0%
Small Cap 9 $17M 0.8%
Micro Cap 3 $349K 0.0%

Portfolio Analytics

Avg Market Cap
$241.4B
Median Market Cap
$71.5B
Avg P/E
36.7
Median P/E
25.6
Avg Dividend Yield
0.02%
Avg Beta
0.91
# Stocks
156
# ETFs / Funds
160

Top Holdings (316 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VFIAX 6.12% 213,704 $135M $631.81 $4M +1,757 +0.8%
2 VIMAX 2.95% 181,144 $65M $359.35 $705K +4,122 +2.3%
3 BSV 2.89% 809,313 $64M $78.81 $2M +30,804 +4.0%
4 GOOGL 2.66% 187,225 $59M $313.00 $12M -6,039 -3.1%
5 AAPL 2.51% 203,478 $55M $271.86 $3M -3,259 -1.6%
6 LLY 2.46% 50,505 $54M $1,074.68 $16M -170 -0.3%
7 AVGO 2.35% 149,583 $52M $346.10 -$3M -15,034 -9.1%
8 MSFT 2.31% 105,166 $51M $483.62 -$2M +2,598 +2.5%
9 SFNNX 2.12% 3,371,196 $47M $13.89 $3M +119,169 +3.7%
10 FCNTX 1.65% 1,501,603 $36M $24.30 -$3M -80,892 -5.1%
11 VEIRX 1.65% 392,205 $36M $92.91 -$2M +1,665 +0.4%
12 VOO 1.60% 56,278 $35M $627.13 $2M +2,189 +4.0%
13 IYW 1.54% 170,058 $34M $199.68 $292K -1,827 -1.1%
14 IVW 1.46% 261,291 $32M $123.26 $83K -4,813 -1.8%
15 AGG 1.45% 320,022 $32M $99.88 -$1M -9,143 -2.8%
16 NVDA 1.42% 167,772 $31M $186.50 $2M +8,502 +5.3%
17 AMZN 1.37% 130,926 $30M $230.82 $2M +3,101 +2.4%
18 VGT 1.33% 38,968 $29M $753.78 $2M +1,636 +4.4%
19 VBIRX 1.33% 2,835,669 $29M $10.34 $695K +61,800 +2.2%
20 APH 1.28% 208,657 $28M $135.14 -$8K -19,270 -8.4%
21 IJR 1.19% 218,188 $26M $120.18 -$346K -5,387 -2.4%
22 JPM 1.18% 80,663 $26M $322.22 $355K -610 -0.8%
23 JMGRX 1.18% 181,373 $26M $142.89 $390K +12,170 +7.2%
24 VSMAX 1.12% 200,162 $25M $123.58 -$758K -9,129 -4.4%
25 LRCX 1.07% 137,998 $24M $171.18 $5M -1,326 -0.9%
26 BIV 1.04% 293,723 $23M $77.88 $285K +4,443 +1.5%
27 VWILX 1.02% 197,168 $22M $113.99 -$195K +13,154 +7.2%
28 V 0.98% 61,500 $22M $350.71 $698K +363 +0.6%
29 MVCKX 0.96% 679,285 $21M $31.25 $577K +61,545 +10.0%
30 FRME 0.91% 534,739 $20M $37.48 -$307K -5,015 -0.9%
31 SYK 0.90% 56,225 $20M $351.47 -$960K +171 +0.3%
32 WMT 0.89% 176,598 $20M $111.41 $2M +1,792 +1.0%
33 PZIEX 0.87% 1,253,975 $19M $15.34 $2M +105,555 +9.2%
34 IVE 0.83% 86,806 $18M $212.07 $680K +954 +1.1%
35 VIGAX 0.82% 72,051 $18M $251.12 -$728K -4,146 -5.4%
36 AVUV 0.81% 175,077 $18M $101.98 $2M +19,725 +12.7%
37 VWIUX 0.79% 1,263,212 $17M $13.80 $2M +104,726 +9.0%
38 MFAIX 0.78% 619,233 $17M $27.79 $1M +38,287 +6.6%
39 TJX 0.73% 105,475 $16M $153.61 $1M +984 +0.9%
40 VBTLX 0.73% 1,651,863 $16M $9.77 $58K +5,910 +0.4%
41 WCMIX 0.72% 638,538 $16M $24.88 -$2M +3,088 +0.5%
42 LOW 0.70% 63,615 $15M $241.16 -$506K +557 +0.9%
43 IEFA 0.67% 165,750 $15M $89.46 $554K +2,263 +1.4%
44 COST 0.66% 16,866 $15M $862.34 -$987K +87 +0.5%
45 DODIX 0.65% 1,114,957 $14M $12.85 -$366K -31,136 -2.7%
46 META 0.64% 21,473 $14M $660.09 $250K +2,513 +13.2%
47 CB 0.61% 43,263 $14M $312.12 $1M +117 +0.3%
48 JNJ 0.61% 64,837 $13M $206.95 $2M +659 +1.0%
49 VFSUX 0.60% 1,259,603 $13M $10.52 -$270K -25,642 -2.0%
50 ABBV 0.58% 56,344 $13M $228.49 -$90K +352 +0.6%
51 SPY 0.58% 18,752 $13M $681.92 $430K +202 +1.1%
52 WCMEX 0.58% 655,861 $13M $19.39 $502K +24,881 +3.9%
53 IJJ 0.57% 95,428 $13M $131.59 -$1M -10,535 -9.9%
54 GSY 0.55% 242,722 $12M $50.25 -$1M -29,060 -10.7%
55 BLK 0.55% 11,280 $12M $1,070.34 -$892K +159 +1.4%
56 IJK 0.55% 124,272 $12M $96.88 -$1M -14,300 -10.3%
57 SCHW 0.54% 119,779 $12M $99.91 $629K +1,018 +0.9%
58 ACN 0.54% 44,296 $12M $268.30 $2M +2,386 +5.7%
59 ADP 0.52% 44,514 $11M $257.23 -$2M -439 -1.0%
60 VVIAX 0.49% 146,286 $11M $74.51 -$114K -5,112 -3.4%
61 XLV 0.48% 68,416 $11M $154.80 $2M +5,801 +9.3%
62 PG 0.45% 69,180 $10M $143.31 $598K +8,547 +14.1%
63 HON 0.45% 50,773 $10M $195.09 -$807K -115 -0.2%
64 ORLY 0.44% 105,218 $10M $91.21 -$1M +2,617 +2.5%
65 IWP 0.43% 68,672 $9M $136.94 -$424K -340 -0.5%
66 XLK 0.43% 65,240 $9M $143.97 $258K +32,830 +101.3%
67 MDY 0.43% 15,567 $9M $603.28 $37K -127 -0.8%
68 VMLUX 0.40% 807,270 $9M $11.00 $860K +78,827 +10.8%
69 SPGI 0.39% 16,614 $9M $522.59 $2M +2,733 +19.7%
70 HD 0.39% 24,786 $9M $344.10 -$2M -211 -0.8%
71 LIN 0.37% 19,328 $8M $426.39 -$773K +351 +1.9%
72 NOMIX 0.37% 395,271 $8M $20.80 -$2M -55,581 -12.3%
73 VONV 0.37% 87,500 $8M $92.30 $256K
74 AME 0.36% 38,266 $8M $205.31 $2M +7,147 +23.0%
75 DHR 0.36% 34,257 $8M $228.92 $927K -623 -1.8%
76 FTNT 0.34% 95,039 $8M $79.41 -$266K +2,114 +2.3%
77 MCD 0.34% 24,611 $8M $305.63 $105K +203 +0.8%
78 NEE 0.34% 93,580 $8M $80.28 $522K +979 +1.1%
79 BRK-B 0.34% 14,869 $7M $502.65 -$79K -154 -1.0%
80 PEP 0.33% 51,297 $7M $143.52 $25K -947 -1.8%
81 VHYAX 0.33% 169,820 $7M $43.27 -$38K -3,898 -2.2%
82 BRO 0.33% 90,746 $7M $79.70 -$1M -1,158 -1.3%
83 RTX 0.33% 39,184 $7M $183.40 $547K -497 -1.2%
84 CMI 0.33% 14,068 $7M $510.45 $938K -713 -4.8%
85 NOW 0.32% 45,824 $7M $153.19 -$1M +36,895 +413.2%
86 XLY 0.31% 56,550 $7M $119.41 -$72K +28,073 +98.6%
87 PDGIX 0.30% 82,230 $7M $81.55 -$1M -8,635 -9.5%
88 TXN 0.30% 38,627 $7M $173.49 -$349K +256 +0.7%
89 IWR 0.30% 68,349 $7M $96.27 -$73K -553 -0.8%
90 XOM 0.30% 54,333 $7M $120.34 $77K -2,975 -5.2%
91 VITAX 0.29% 16,487 $6M $385.83 -$177K -611 -3.6%
92 BAESY 0.28% 67,568 $6M $92.22 -$1M +2,338 +3.6%
93 XLP 0.28% 80,195 $6M $77.68 -$70K -184 -0.2%
94 EOG 0.28% 59,062 $6M $105.01 -$431K -99 -0.2%
95 CEG 0.28% 17,462 $6M $353.27 $617K +590 +3.5%
96 CAT 0.27% 10,575 $6M $572.87 $814K -415 -3.8%
97 XLF 0.26% 105,968 $6M $54.77 $129K +621 +0.6%
98 IEMG 0.26% 86,136 $6M $67.22 $185K +1,111 +1.3%
99 SCHD 0.26% 210,080 $6M $27.43 -$1M -40,962 -16.3%
100 ECL 0.26% 21,773 $6M $262.52 -$125K +445 +2.1%

New Positions

SymbolValue% Port
EVV $505K 0.02%
JPC $419K 0.02%
IBM $373K 0.02%
VWEHX $308K 0.01%
PFF $300K 0.01%
AMD $257K 0.01%
SNOW $232K 0.01%
CVS $231K 0.01%
TWLO $213K 0.01%
SLV $213K 0.01%
KEY $204K 0.01%
VUG $203K 0.01%
SPAXX $16K —%

Sold Out Positions

SymbolValue% Port
GPC —%
TY —%
KMB —%
LKFN —%
POOL —%
AMBFX —%
PXINX —%
NWBI —%
VCSH —%
VDIGX —%
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