Steel Dynamics, Inc.
US ˙ NasdaqGS ˙ US8581191009

SecuritySTLD / Steel Dynamics, Inc.
InstitutionEmpowered Funds, LLC
Latest Disclosed Ownership22,681 shares
Latest Disclosed Value $ 4,082,580
Empowered Funds, LLC reports 47.61% decrease in ownership of STLD / Steel Dynamics, Inc.

On May 15, 2026 - Empowered Funds, LLC filed a 13F-HR form disclosing ownership of 22,681 shares of Steel Dynamics, Inc. (US:STLD) valued at $4,082,580 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 43,289 shares of Steel Dynamics, Inc.. This represents a change in shares of -47.61% during the quarter. The current value of the position is $6,279,235 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)
2026-05-15 2026-03-31 13F STEEL DYNAMICS COM 858119100 22,681 -20,608 -47.61 4,083 -44.35 0.0114
2026-02-11 2025-12-31 13F STEEL DYNAMICS COM 858119100 43,289 39,488 1,038.88 7,335 1,286.58 0.0584
2025-11-13 2025-09-30 13F STEEL DYNAMICS COM 858119100 3,801 -17,109 -81.82 530 -80.23 0.0054
2025-08-11 2025-06-30 13F STEEL DYNAMICS COM 858119100 20,910 -20,037 -48.93 2,677 -47.74 0.0303
2025-05-16 2025-03-31 13F STEEL DYNAMICS COM 858119100 40,947 -11 -0.03 5,122 9.61 0.0729
2025-01-28 2024-12-31 13F STEEL DYNAMICS COM 858119100 40,958 3,672 9.85 4,672 -0.62 0.0683
2024-11-06 2024-09-30 13F STEEL DYNAMICS COM 858119100 37,286 -3,050 -7.56 4,701 -9.99 0.0739
2024-07-30 2024-06-30 13F STEEL DYNAMICS COM 858119100 40,336 -39,263 -49.33 5,224 -55.73 0.0904
2024-05-07 2024-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 79,599 -1,595 -1.96 11,799 23.04 0.2130
2024-05-06 2024-03-31 13F STEEL DYNAMICS COM 858119100 79,599 -1,595 11,799 0.1019
2024-02-14 2023-12-31 13F STEEL DYNAMICS COM 858119100 81,194 -36,504 -31.01 9,589 -24.01 0.2407
2023-11-01 2023-09-30 13F STEEL DYNAMICS COM 858119100 117,698 51,137 76.83 12,620 74.06 0.3721
2023-07-27 2023-06-30 13F STEEL DYNAMICS COM 858119100 66,561 44,651 203.79 7,250 192.69 0.2549
2023-04-05 2023-03-31 13F STEEL DYNAMICS COM 858119100 21,910 -20,747 -48.64 2,477 -40.56 0.1461
2023-02-21 2022-12-31 13F/A-1 SPRUCE BIOSCIENCES COM 858119100 42,657 -10,454 -19.68 4,168 10.59 0.2724
2023-01-26 2022-12-31 13F SPRUCE BIOSCIENCES COM 858119100 42,657 -10,454 4 0.1676
2022-11-04 2022-09-30 13F STEEL DYNAMICS COM 858119100 53,111 -3,575 -6.31 3,768 0.48 0.3649
2022-08-01 2022-06-30 13F STEEL DYNAMICS COM 858119100 56,686 687 1.23 3,750 -19.73 0.4835
2022-04-21 2022-03-31 13F STEEL DYNAMICS COM 858119100 55,999 -21,055 -27.32 4,672 -2.32 0.5107
2022-02-10 2021-12-31 13F STEEL DYNAMICS COM 858119100 77,054 6,523 9.25 4,783 15.95 0.5394
2021-11-12 2021-09-30 13F STEEL DYNAMICS COM 858119100 70,531 -3,581 -4.83 4,125 63.50 0.5292
2020-07-16 2020-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 74,112 0 0.00 2,523 0.00 0.9132
2020-07-16 2019-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 74,112 -5,740 -7.19 2,523 6.01 0.9132
2020-01-27 2019-12-31 13F STEEL DYNAMICS COM 858119100 74,112 -5,740 2,523 1,033,690.1879
2019-11-01 2019-09-30 13F STEEL DYNAMICS COM 858119100 79,852 -1,927 -2.36 2,380 -3.64 1.0360
2019-07-09 2019-06-30 13F STEEL DYNAMICS COM 858119100 81,779 81,779 2,470 1.0323
2019-05-10 2019-03-31 13F STEEL DYNAMICS COM 858119100 0 -68,046 -100.00 0 -100.00
2019-01-22 2018-12-31 13F STEEL DYNAMICS COM 858119100 68,046 -2,323 -3.30 2,044 -36.20 0.8649
2018-10-18 2018-09-30 13F STEEL DYNAMICS COM 858119100 70,369 12,672 21.96 3,204 28.78 0.9485
2018-07-09 2017-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 57,697 5,436 10.40 2,488 38.15 1.2482
2018-07-09 2017-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 52,261 33,246 174.84 1,801 172.47 1.1687
2018-07-09 2017-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 19,015 19,015 661 0.6773
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.