Merchants Bancorp
US ˙ NasdaqCM ˙ US58844R1086

SecurityMBIN / Merchants Bancorp
InstitutionCitigroup Inc
Latest Disclosed Ownership13,241 shares
Latest Disclosed Value $ 568,171
Citigroup Inc reports 376.29% increase in ownership of MBIN / Merchants Bancorp

On May 11, 2026 - Citigroup Inc filed a 13F-HR form disclosing ownership of 13,241 shares of Merchants Bancorp (US:MBIN) valued at $568,171 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 2,780 shares of Merchants Bancorp. This represents a change in shares of 376.29% during the quarter. The current value of the position is $603,260 USD.

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)
2026-05-11 2026-03-31 13F MERCHANTS BANCORP IND COM 58844R108 13,241 10,461 376.29 568 504.26 0.0001
2026-02-13 2025-12-31 13F MERCHANTS BANCORP IND COM 58844R108 2,780 -480 -14.72 95 -8.74 0.0000
2025-11-10 2025-09-30 13F MERCHANTS BANCORP IND COM 58844R108 3,260 -8,067 -71.22 104 -72.46 0.0000
2025-08-11 2025-06-30 13F MERCHANTS BANCORP IND COM 58844R108 11,327 -3,648 -24.36 375 -32.49 0.0002
2025-05-12 2025-03-31 13F MERCHANTS BANCORP IND COM 58844R108 14,975 -19,519 -56.59 554 -55.93 0.0003
2025-02-12 2024-12-31 13F MERCHANTS BANCORP IND COM 58844R108 34,494 3,498 11.29 1,258 -9.76 0.0007
2024-11-12 2024-09-30 13F MERCHANTS BANCORP IND COM 58844R108 30,996 13,092 73.12 1,394 92.14 0.0008
2024-08-12 2024-06-30 13F MERCHANTS BANCORP IND COM 58844R108 17,904 3,146 21.32 726 13.81 0.0005
2024-05-10 2024-03-31 13F MERCHANTS BANCORP IND COM 58844R108 14,758 2,277 18.24 637 19.96 0.0004
2024-02-09 2023-12-31 13F MERCHANTS BANCORP IND COM 58844R108 12,481 3,027 32.02 531 102.67 0.0004
2023-12-06 2023-09-30 13F/A-1 MERCHANTS BANCORP IND COM 58844R108 9,454 -7,613 -44.61 262 -39.91 0.0002
2023-11-09 2023-09-30 13F MERCHANTS BANCORP IND COM 58844R108 9,454 -7,613 262 0.0001
2023-08-10 2023-06-30 13F MERCHANTS BANCORP IND COM 58844R108 17,067 5,968 53.77 437 50.87 0.0003
2023-05-11 2023-03-31 13F MERCHANTS BANCORP IND COM 58844R108 11,099 1,474 15.31 289 23.50 0.0002
2023-02-09 2022-12-31 13F MERCHANTS BANCORP IND COM 58844R108 9,625 -315 -3.17 234 2.18 0.0002
2022-11-10 2022-09-30 13F MERCHANTS BANCORP IND COM 58844R108 9,940 -756 -7.07 229 -5.37 0.0002
2022-08-10 2022-06-30 13F MERCHANTS BANCORP IND COM 58844R108 10,696 -110 -1.02 242 -18.24 0.0002
2022-05-12 2022-03-31 13F MERCHANTS BANCORP IND COM 58844R108 10,806 2,955 37.64 296 -20.43 0.0002
2022-02-10 2021-12-31 13F MERCHANTS BANCORP IND COM 58844R108 7,851 -2,078 -20.93 372 -5.10 0.0002
2021-11-10 2021-09-30 13F MERCHANTS BANCORP IND COM 58844R108 9,929 1,907 23.77 392 24.44 0.0002
2021-08-10 2021-06-30 13F MERCHANTS BANCORP IND COM 58844R108 8,022 695 9.49 315 2.61 0.0002
2021-05-13 2021-03-31 13F MERCHANTS BANCORP IND COM 58844R108 7,327 -2,399 -24.67 307 14.13 0.0002
2021-02-11 2020-12-31 13F MERCHANTS BANCORP IND COM 58844R108 9,726 9,216 1,807.06 269 2,590.00 0.0002
2020-11-12 2020-09-30 13F MERCHANTS BANCORP IND COM 58844R108 510 -2,391 -82.42 10 -81.48 0.0000
2020-08-12 2020-06-30 13F MERCHANTS BANCORP IND COM 58844R108 2,901 494 20.52 54 45.95 0.0000
2020-05-12 2020-03-31 13F MERCHANTS BANCORP IND COM 58844R108 2,407 -522 -17.82 37 -36.21 0.0000
2020-02-12 2019-12-31 13F MERCHANTS BANCORP IND COM 58844R108 2,929 897 44.14 58 70.59 0.0000
2019-11-08 2019-09-30 13F MERCHANTS BANCORP IND COM 58844R108 2,032 -1,980 -49.35 34 -50.00 0.0000
2019-08-12 2019-06-30 13F MERCHANTS BANCORP IND COM 58844R108 4,012 -82 -2.00 68 -22.73 0.0001
2019-05-13 2019-03-31 13F MERCHANTS BANCORP IND COM 58844R108 4,094 -240 -5.54 88 2.33 0.0001
2019-02-12 2018-12-31 13F MERCHANTS BANCORP IND COM 58844R108 4,334 -98 -2.21 86 -23.21 0.0001
2018-11-13 2018-09-30 13F MERCHANTS BANCORP IND COM 58844R108 4,432 1,475 49.88 112 33.33 0.0001
2018-08-10 2018-06-30 13F MERCHANTS BANCORP IND COM 58844R108 2,957 1,011 51.95 84 100.00 0.0001
2018-05-11 2018-03-31 13F MERCHANTS BANCORP IND COM 58844R108 1,946 909 87.66 42 110.00 0.0000
2018-02-12 2017-12-31 13F MERCHANTS BANCORP IND COM 58844R108 1,037 1,037 20 0.0000
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.