First Merchants Top Holdings and 13F Report (2025) About First MerchantsFirst Merchants NASDAQ: FRME has filed 13-F forms with the SEC as an investor. First Merchants is itself a publicly traded company. For more information on First Merchants stock, visit the First Merchants stock profile here.Investment ActivityFirst Merchants has $2.51 billion in total holdings as of March 31, 2025.First Merchants owns shares of 381 different stocks, but just 86 companies or ETFs make up 80% of its holdings.Approximately 6.82% of the portfolio was purchased this quarter.About 8.55% of the portfolio was sold this quarter.This quarter, First Merchants has purchased 406 new stocks and bought additional shares in 67 stocks.First Merchants sold shares of 208 stocks and completely divested from 36 stocks this quarter.Largest Holdings FMPW INST MONEY $229,758,583VANGUARD 500 INDEX A $108,840,801FED TTL RET BD CL R6 $84,127,902FED SH INTRM TTL BD $77,001,776Vanguard Short-Term Bond ETF $57,684,063 Largest New Holdings this Quarter 025072877 - Avantis U.S. Small Cap Value ETF $9,790,498 Holding05523R107 - BAE Systems $4,598,182 Holding704326107 - Paychex $309,023 Holding902973304 - U.S. Bancorp $288,320 Holding459200101 - International Business Machines $242,444 Holding Largest Purchases this Quarter Vanguard Short-Term Bond ETF 584,174 shares (about $45.73M)VANGUARD SHORT TERM 2,760,723 shares (about $28.27M)FMPW INST MONEY 16,912,096 shares (about $16.91M)FED SH INTRM TTL BD 1,363,496 shares (about $13.83M)Avantis U.S. Small Cap Value ETF 112,315 shares (about $9.79M) Largest Sales this Quarter Ball 576,447 shares (about $30.02M)iShares Core U.S. Aggregate Bond ETF 258,403 shares (about $25.56M)VANGUARD TOTAL BOND 1,930,687 shares (about $18.63M)UnitedHealth Group 19,299 shares (about $10.11M)FED TTL RET BD CL R6 783,367 shares (about $7.43M) Sector Allocation Over TimeMap of 500 Largest Holdings ofFirst Merchants Selling Neutral Buying Latest 13F Holdings and Changes Since Previous Quarterly FilingIssuer NameHoldings ValueApproximate Purchase/SaleChange in SharesShares Held% of PortfolioSectorFMPW INST MONEY$229,758,583$16,912,095 ▲7.9%229,758,6009.2%Cash EquivalentsVANGUARD 500 INDEX A$108,840,801$262,473 ▼-0.2%210,2404.3%Mutual FundsFED TTL RET BD CL R6$84,127,902$7,426,333 ▼-8.1%8,874,2353.4%Mutual FundsFED SH INTRM TTL BD$77,001,776$13,825,847 ▲21.9%7,593,8653.1%Mutual FundsBSVVanguard Short-Term Bond ETF$57,684,063$45,729,141 ▲382.5%736,8942.3%ETFVANGUARD MID-CAP AD$54,824,335$407,069 ▼-0.7%171,1792.2%Mutual FundsAAPLApple$50,339,101$77,079 ▼-0.2%226,6202.0%Computer and TechnologyLLYEli Lilly and Company$41,143,532$5,271,783 ▼-11.4%49,8161.6%MedicalMSFTMicrosoft$40,650,608$330,719 ▼-0.8%108,2891.6%Computer and TechnologyVANGUARD EQUITY$35,721,719$207,830 ▲0.6%396,8701.4%Mutual FundsAGGiShares Core U.S. Aggregate Bond ETF$34,672,053$25,561,224 ▼-42.4%350,5061.4%FinanceFIDELITY CONTRAFUND$33,612,525$912,690 ▼-2.6%1,678,9501.3%Mutual FundsNORTH ULT-SH FIX INC$33,452,333$2,179,350 ▼-6.1%3,241,5311.3%Mutual FundsAVGOBroadcom$32,831,684$376,215 ▼-1.1%196,0921.3%Computer and TechnologySCHWAB FDMTL INTL LC$32,334,132$3,198,725 ▼-9.0%2,869,0491.3%Mutual FundsGOOGLAlphabet$31,167,847$413,817 ▼-1.3%201,5511.2%Computer and TechnologyVANGUARD SHORT TERM$28,913,904$28,269,828 ▲4,389.2%2,823,6211.2%Mutual FundsIYWiShares U.S. Technology ETF$26,200,346$1,521,246 ▼-5.5%186,5591.0%ManufacturingIJRiShares Core S&P Small-Cap ETF$26,055,289$3,331,809 ▼-11.3%249,1661.0%ETFVANGUARD SMALLCAP AD$25,127,373$6,773,847 ▼-21.2%236,5121.0%Mutual FundsIVWiShares S&P 500 Growth ETF$24,996,799$2,349,899 ▼-8.6%269,2751.0%ETFAMZNAmazon.com$24,362,412$219,558 ▼-0.9%128,0491.0%Retail/WholesaleVOOVanguard S&P 500 ETF$23,726,711$472,283 ▲2.0%46,1690.9%ETFVGTVanguard Information Technology ETF$23,532,784$623,195 ▼-2.6%43,3880.9%ETFFRANKLIN ELECTRIC$23,320,6370.0%248,4090.9%EquitiesVVisa$23,100,922$38,901 ▼-0.2%65,9160.9%Business ServicesSYKStryker$22,029,011$64,027 ▼-0.3%59,1780.9%MedicalFRMEFirst Merchants$21,943,148$286,437 ▼-1.3%542,6100.9%FinanceJPMJPMorgan Chase & Co.$21,836,115$469,259 ▼-2.1%89,0180.9%FinanceJANUS ENTERPRISE$20,907,823$1,655,941 ▲8.6%152,7740.8%Mutual FundsBIVVanguard Intermediate-Term Bond ETF$20,493,730$5,567,864 ▲37.3%267,6470.8%ETFIVEiShares S&P 500 Value ETF$20,316,780$2,133,924 ▲11.7%106,6050.8%ETFAPHAmphenol$17,154,015$35,878 ▲0.2%261,5340.7%Computer and TechnologyCOSTCostco Wholesale$16,514,264$1,511,356 ▼-8.4%17,4610.7%Retail/WholesaleVANGUARD TAX EXEMPT$16,357,406$1,206,925 ▲8.0%1,214,3590.7%Mutual FundsVANGUARD INTL GR ADM$16,274,568$43,986 ▼-0.3%157,9890.6%Mutual FundsNVDANVIDIA$16,270,981$326,874 ▼-2.0%150,1290.6%Computer and TechnologyGRANT COUNTY STATE$16,267,0590.0%15,3100.6%EquitiesMFS MIDCAP VALUE R6$16,175,817$1,958,615 ▲13.8%522,1380.6%Mutual FundsDODGE & COX INCOME$16,130,374$2,284,570 ▲16.5%1,280,1880.6%Mutual FundsVANGUARD TOTAL BOND$15,999,116$18,631,157 ▼-53.8%1,657,9370.6%Mutual FundsWCM FOCUSED INTL GR$15,905,968$253,055 ▲1.6%695,1850.6%Mutual FundsVANGUARD S/T INV GR$15,720,532$1,294,465 ▼-7.6%1,511,5920.6%Mutual FundsLOWLowe's Companies$15,679,820$40,348 ▼-0.3%67,2300.6%Retail/WholesaleWMTWalmart$15,562,884$2,183,162 ▼-12.3%177,2740.6%Retail/WholesaleVANGUARD GRW IND ADM$15,141,620$2,960,441 ▼-16.4%79,3180.6%Mutual FundsADPAutomatic Data Processing$14,811,483$178,735 ▼-1.2%48,4780.6%Business ServicesGSYInvesco Ultra Short Duration ETF$14,393,211$5,344,045 ▼-27.1%287,1750.6%ETFACNAccenture$14,215,606$453,082 ▼-3.1%45,5570.6%Computer and TechnologyIJJiShares S&P Mid-Cap 400 Value ETF$14,199,499$162,593 ▼-1.1%118,5960.6%ETFCBChubb$13,823,894$101,771 ▼-0.7%45,7760.6%FinanceTJXTJX Companies$13,304,823$153,590 ▲1.2%109,2350.5%Retail/WholesaleLAM RESEARCH$13,228,855$40,639 ▲0.3%181,9650.5%EquitiesMORGAN STANLEY INTL$12,841,497$228,038 ▼-1.7%524,7810.5%Mutual FundsABBVAbbVie$12,218,787$5,976,558 ▲95.7%58,3180.5%MedicalIJKiShares S&P Mid-Cap 400 Growth ETF$12,209,930$104,850 ▼-0.9%146,6130.5%ETFBLACKROCK$11,497,839$361,555 ▼-3.0%12,1480.5%EquitiesBROBrown & Brown$11,433,977$200,782 ▲1.8%91,9130.5%FinanceIEFAiShares Core MSCI EAFE ETF$11,386,158$3,823,730 ▲50.6%150,5110.5%ETFJNJJohnson & Johnson$11,328,199$102,157 ▼-0.9%68,3080.5%MedicalHONHoneywell International$11,278,229$28,163 ▼-0.2%53,2620.4%Multi-Sector ConglomeratesSCHDSchwab US Dividend Equity ETF$11,224,346$577,682 ▼-4.9%401,4430.4%ETFPGProcter & Gamble$11,014,074$120,657 ▼-1.1%64,6290.4%Consumer StaplesSPYSPDR S&P 500 ETF Trust$10,897,476$85,587 ▼-0.8%19,4810.4%FinanceVANGUARD VALUE$10,530,183$342,476 ▼-3.1%156,2880.4%Mutual FundsPZENA EMERGING MKT$10,122,859$2,577,471 ▲34.2%801,5000.4%Mutual FundsNORTHERN MIDCAP$10,061,115$516,212 ▼-4.9%517,5450.4%Mutual FundsHDHome Depot$9,966,696$245,906 ▼-2.4%27,1960.4%Retail/WholesaleMETAMeta Platforms$9,934,718$237,460 ▲2.4%17,2370.4%Computer and TechnologyORLYO'Reilly Automotive$9,876,207$106,011 ▼-1.1%6,8940.4%Retail/WholesaleSCHWCharles Schwab$9,856,705$51,743 ▲0.5%125,9160.4%FinanceXLVHealth Care Select Sector SPDR Fund$9,833,481$586,960 ▼-5.6%67,3480.4%ETFAVUVAvantis U.S. Small Cap Value ETF$9,790,498$9,790,498 ▲New Holding112,3150.4%ETFLINDE PLC$9,470,652$9,312 ▲0.1%20,3400.4%EquitiesPEPPepsiCo$9,180,226$624,640 ▼-6.4%61,2270.4%Consumer StaplesGVIiShares Intermediate Government/Credit Bond ETF$9,165,111$8,773,473 ▲2,240.2%86,4470.4%ETFFTNTFortinet$9,047,381$138,903 ▲1.6%93,9890.4%Computer and TechnologyNOWServiceNow$8,943,040$78,022 ▲0.9%11,2330.4%Computer and TechnologyT ROWE PRICE DIVID$8,869,928$1,037,329 ▼-10.5%113,1690.4%Mutual FundsMDYSPDR S&P MidCap 400 ETF Trust$8,864,304$132,837 ▼-1.5%16,6160.4%ETFBRK.BBerkshire Hathaway$8,730,584$175,219 ▼-2.0%16,3930.3%FinanceDHRDanaher$8,318,695$145,550 ▼-1.7%40,5790.3%MedicalEOGEOG Resources$8,090,533$120,546 ▼-1.5%63,0890.3%EnergyIWPiShares Russell Mid-Cap Growth ETF$8,051,355$690,959 ▲9.4%68,5280.3%ETFVANGUARD LIMITED TAX$7,997,216$305,633 ▲4.0%736,3920.3%Mutual FundsUNHUnitedHealth Group$7,979,331$10,107,851 ▼-55.9%15,2350.3%MedicalCVXChevron$7,657,365$543,525 ▼-6.6%45,7730.3%EnergyWCM FOCUSED EMRG MKT$7,606,760$558,326 ▼-6.8%519,2330.3%Mutual FundsXLPConsumer Staples Select Sector SPDR Fund$7,220,608$318,513 ▼-4.2%88,4120.3%ETFCPRTCopart$7,193,494$233,038 ▲3.3%127,1160.3%Business ServicesABTAbbott Laboratories$7,175,835$258,137 ▼-3.5%54,0960.3%MedicalGS FIN SQ GOVT$7,122,974$3,826,576 ▼-34.9%7,122,9730.3%Cash EquivalentsVANGUARD HIGH DIV YD$7,108,773$377,515 ▼-5.0%182,8810.3%Mutual FundsXLKTechnology Select Sector SPDR Fund$7,103,325$134,212 ▼-1.9%34,4020.3%ETFAZNAstraZeneca$7,099,292$2,180,745 ▲44.3%96,5890.3%MedicalCMCSAComcast$7,074,247$403,760 ▼-5.4%191,7140.3%Consumer DiscretionaryTXNTexas Instruments$7,012,792$128,306 ▼-1.8%39,0250.3%Computer and TechnologySPGIS&P Global$7,009,239$128,549 ▲1.9%13,7950.3%Business ServicesMCDMcDonald's$6,987,404$173,053 ▲2.5%22,3690.3%Retail/WholesaleNEENextEra Energy$6,812,388$67,275 ▼-1.0%96,0980.3%UtilitiesShowing largest 100 holdings. 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