Steel Dynamics, Inc.
MX ˙ BMV ˙ US8581191009
SecurityMX:STLD / Steel Dynamics, Inc.
InstitutionGeode Capital Management, Llc
Latest Disclosed Ownership3,834,936 shares
Latest Disclosed Value $ 687,777,790
Geode Capital Management, Llc reports 4.41% increase in ownership of STLD / Steel Dynamics, Inc.

On May 15, 2026 - Geode Capital Management, Llc filed a 13F-HR form disclosing ownership of 3,834,936 shares of Steel Dynamics, Inc. (MX:STLD) valued at $687,777,790 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 9, 2026 disclosing 3,672,896 shares of Steel Dynamics, Inc.. This represents a change in shares of 4.41% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F STEEL DYNAMICS COM 858119100 3,834,936 162,040 4.41 687,778 10.93 0.0229
2026-02-09 2025-12-31 13F STEEL DYNAMICS COM 858119100 3,672,896 -15,124 -0.41 619,988 21.05 0.0383
2025-11-12 2025-09-30 13F STEEL DYNAMICS COM 858119100 3,688,020 43,840 1.20 512,168 10.25 0.0327
2025-08-08 2025-06-30 13F STEEL DYNAMICS COM 858119100 3,644,180 6,875 0.19 464,559 2.43 0.0326
2025-05-13 2025-03-31 13F STEEL DYNAMICS COM 858119100 3,637,305 -51,189 -1.39 453,530 8.06 0.0357
2025-02-12 2024-12-31 13F STEEL DYNAMICS COM 858119100 3,688,494 30,350 0.83 419,697 -8.71 0.0325
2024-11-12 2024-09-30 13F STEEL DYNAMICS COM 858119100 3,658,144 -12,038 -0.33 459,723 -3.03 0.0372
2024-08-09 2024-06-30 13F STEEL DYNAMICS COM 858119100 3,670,182 -35,749 -0.96 474,072 -13.48 0.0416
2024-05-13 2024-03-31 13F STEEL DYNAMICS COM 858119100 3,705,931 38,121 1.04 547,959 26.21 0.0507
2024-02-13 2023-12-31 13F STEEL DYNAMICS COM 858119100 3,667,810 -6,217 -0.17 434,163 9.86 0.0454
2023-11-13 2023-09-30 13F STEEL DYNAMICS COM 858119100 3,674,027 32,915 0.90 395,200 -0.21 0.0471
2023-08-11 2023-06-30 13F STEEL DYNAMICS COM 858119100 3,641,112 -433,157 -10.63 396,022 -13.91 0.0465
2023-05-15 2023-03-31 13F STEEL DYNAMICS COM 858119100 4,074,269 -108,066 -2.58 460,036 112,930.96 0.0597
2023-02-13 2022-12-31 13F STEEL DYNAMICS COM 858119100 4,182,335 994,643 31.20 408 -99.82 0.0573
2022-11-14 2022-09-30 13F STEEL DYNAMICS COM 858119100 3,187,692 38,665 1.23 226,025 8.61 0.0343
2022-08-12 2022-06-30 13F STEEL DYNAMICS COM 858119100 3,149,027 321,646 11.38 208,114 -11.65 0.0305
2022-05-13 2022-03-31 13F STEEL DYNAMICS COM 858119100 2,827,381 58,728 2.12 235,567 37.28 0.0294
2022-02-11 2021-12-31 13F STEEL DYNAMICS COM 858119100 2,768,653 -2,904 -0.10 171,601 5.96 0.0207
2021-11-12 2021-09-30 13F STEEL DYNAMICS COM 858119100 2,771,557 -219,117 -7.33 161,956 -9.08 0.0218
2021-08-13 2021-06-30 13F STEEL DYNAMICS COM 858119100 2,990,674 89,180 3.07 178,123 21.01 0.0245
2021-05-12 2021-03-31 13F STEEL DYNAMICS COM 858119100 2,901,494 102,497 3.66 147,200 42.61 0.0225
2021-02-12 2020-12-31 13F STEEL DYNAMICS COM 858119100 2,798,997 -1,026 -0.04 103,221 28.68 0.0173
2020-11-13 2020-09-30 13F STEEL DYNAMICS COM 858119100 2,800,023 -299,203 -9.65 80,217 -0.79 0.0157
2020-08-13 2020-06-30 13F STEEL DYNAMICS COM 858119100 3,099,226 53,614 1.76 80,853 17.86 0.0173
2020-05-14 2020-03-31 13F STEEL DYNAMICS COM 858119100 3,045,612 683 0.02 68,598 -34.22 0.0179
2020-02-20 2019-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 3,044,929 109,758 3.74 104,287 18.32 0.0218
2020-02-13 2019-12-31 13F STEEL DYNAMICS COM 858119100 3,044,929 109,758 104,287 13,290.4638
2019-11-12 2019-09-30 13F STEEL DYNAMICS COM 858119100 2,935,171 229,624 8.49 88,143 7.94 0.0206
2019-08-14 2019-06-30 13F STEEL DYNAMICS COM 858119100 2,705,547 -107,414 -3.82 81,659 -17.64 0.0198
2019-05-14 2019-03-31 13F STEEL DYNAMICS COM 858119100 2,812,961 42,102 1.52 99,146 19.18 0.0257
2019-03-06 2018-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,770,859 184,297 7.13 83,190 -28.79 0.0257
2019-02-13 2018-12-31 13F STEEL DYNAMICS COM 858119100 2,770,859 184,297 83,190
2018-11-13 2018-09-30 13F STEEL DYNAMICS COM 858119100 2,586,562 208,543 8.77 116,820 6.98 0.0329
2018-08-14 2018-06-30 13F STEEL DYNAMICS COM 858119100 2,378,019 47,465 2.04 109,198 6.04 0.0336
2018-05-15 2018-03-31 13F STEEL DYNAMICS COM 858119100 2,330,554 139,239 6.35 102,978 9.02 0.0336
2018-02-13 2017-12-31 13F STEEL DYNAMICS COM 858119100 2,191,315 -481,006 -18.00 94,460 2.59 0.0321
2017-11-14 2017-09-30 13F STEEL DYNAMICS COM 858119100 2,672,321 -130,223 -4.65 92,075 -8.23 0.0340
2017-08-14 2017-06-30 13F STEEL DYNAMICS COM 858119100 2,802,544 74,607 2.73 100,330 5.81 0.0395
2017-06-21 2017-03-31 13F/A-1 STEEL DYNAMICS INC COM COM 858119100 2,727,937 391,568 16.76 94,822 14.07 0.0389
2017-05-12 2017-03-31 13F STEEL DYNAMICS INC COM COM 858119100 2,727,937 94,822
2017-02-14 2016-12-31 13F STEEL DYNAMICS INC COM COM 858119100 2,336,369 -146,760 -5.91 83,128 33.96 0.0387
2016-11-10 2016-09-30 13F STEEL DYNAMICS INC COM COM 858119100 2,483,129 506,486 25.62 62,053 28.14 0.0312
2016-08-12 2016-06-30 13F STEEL DYNAMICS INC COM COM 858119100 1,976,643 53,890 2.80 48,427 11.89 0.0263
2016-05-13 2016-03-31 13F STEEL DYNAMICS INC COM COM 858119100 1,922,753 405,432 26.72 43,281 59.63 0.0230
2016-02-12 2015-12-31 13F STEEL DYNAMICS INC COM COM 858119100 1,517,321 8,827 0.59 27,114 4.63 0.0155
2015-11-13 2015-09-30 13F STEEL DYNAMICS INC COM COM 858119100 1,508,494 68,862 4.78 25,915 -13.10 0.0157
2015-08-14 2015-06-30 13F STEEL DYNAMICS INC COM COM 858119100 1,439,632 -30,585 -2.08 29,821 0.91 0.0170
2015-05-14 2015-03-31 13F STEEL DYNAMICS INC COM COM 858119100 1,470,217 140,413 10.56 29,551 12.58 0.0169
2015-02-12 2014-12-31 13F STEEL DYNAMICS INC COM COM 858119100 1,329,804 -15,797 -1.17 26,250 -13.72 0.0156
2014-11-14 2014-09-30 13F STEEL DYNAMICS INC COM COM 858119100 1,345,601 137,017 11.34 30,424 40.24 0.0197
2014-08-13 2014-06-30 13F STEEL DYNAMICS INC COM COM 858119100 1,208,584 28,414 2.41 21,694 3.33 0.0140
2014-05-14 2014-03-31 13F STEEL DYNAMICS INC COM COM 858119100 1,180,170 23,379 2.02 20,995 -7.11 0.0141
2014-02-14 2013-12-31 13F STEEL DYNAMICS INC COM COM 858119100 1,156,791 138,829 13.64 22,603 32.88 0.0157
2013-11-14 2013-09-30 13F STEEL DYNAMICS INC COM COM 858119100 1,017,962 151,161 17.44 17,010 31.62 0.0136
2013-08-14 2013-06-30 13F STEEL DYNAMICS INC COM COM 858119100 866,801 866,801 12,924 0.0114
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.