FIRST MERCHANTS CORP Discloses $25.8M Alphabet Stake in 13F Filing

TL;DR

**FIRST MERCHANTS CORP is bullish on tech, holding over $25M in Alphabet and $10M in Adobe as of year-end 2023.**

AI Summary

FIRST MERCHANTS CORP, a national commercial bank, filed its 13F-HR report on January 25, 2024, detailing its holdings as of December 31, 2023. The filing reveals significant sole holdings in tech giants like Alphabet Inc. Class A, valued at $25,862,987 across 185,147 shares, and Adobe Systems Inc., valued at $10,030,330 across 16,813 shares. This matters to investors as it provides transparency into the bank's investment strategy and its confidence in these specific companies, potentially signaling growth opportunities or strategic diversification within its portfolio.

Why It Matters

This filing offers a snapshot of FIRST MERCHANTS CORP's investment portfolio, revealing which stocks they are holding and in what quantities, which can influence investor sentiment and potentially signal market trends.

Risk Assessment

Risk Level: medium — The portfolio shows diversification across various sectors, but significant concentration in a few large-cap tech stocks introduces market-specific risk.

Analyst Insight

Investors should note FIRST MERCHANTS CORP's strong conviction in major tech players like Alphabet and Adobe, which could indicate a belief in their continued growth. This might prompt individual investors to research these specific stocks further or consider similar allocations if their investment goals align.

Key Numbers

• $25.86M — Alphabet Inc. Class A holdings (Represents the largest single holding by value in the portfolio as of December 31, 2023.)
• 185,147 SH — Alphabet Inc. Class A shares (Indicates the number of shares held for the largest position.)
• $10.03M — Adobe Systems Inc. holdings (Represents another significant technology holding in the portfolio.)
• 16,813 SH — Adobe Systems Inc. shares (Indicates the number of shares held for Adobe Systems Inc.)
• 20231231 — Conformed Period of Report (This is the date the reported holdings are accurate as of, providing a clear reference point for the data.)

Key Players & Entities

• FIRST MERCHANTS CORP (company) — filer of the 13F-HR report
• Alphabet Inc. Class A (company) — a significant holding in the portfolio
• Adobe Systems Inc. (company) — a significant holding in the portfolio
• Candy Shannon (person) — Director of Wealth Operations for FIRST MERCHANTS CORP
• $25,862,987 (dollar_amount) — value of Alphabet Inc. Class A shares held
• $10,030,330 (dollar_amount) — value of Adobe Systems Inc. shares held

Forward-Looking Statements

• FIRST MERCHANTS CORP will maintain or increase its significant holdings in large-cap technology companies like Alphabet and Adobe in its next filing. (FIRST MERCHANTS CORP) — medium confidence, target: Q1 2024 13F-HR filing (due May 2024)
• The bank's investment strategy will continue to favor growth-oriented stocks, given the substantial positions in tech. (FIRST MERCHANTS CORP) — medium confidence, target: Next 13F-HR filing

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 2KB
• information_table.html (INFORMATION TABLE)
• information_table.xml (INFORMATION TABLE) — 131KB
• 0000712534-24-000041.txt ( ) — 134KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 12-31-2023 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: FIRST MERCHANTS CORP Address: 200 East Jackson Street Muncie , IN   47305 Form 13F File Number: 028-13037 CRD Number (if applicable): The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Candy Shannon Title: Director of Wealth Operations Phone: 765-747-1315 Signature, Place, and Date of Signing: Candy Shannon Muncie ,  IN 01-09-2024 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 337 Form 13F Information Table Value Total: 1,220,340,677 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] NONE

View Full Filing

View this 13F-HR filing on SEC EDGAR