Vault-13

MERCER INTL INC MERC

COM · Common Stock · CUSIP 588056101

67 institutional holders -9 vs Q1 2026
42,660,10242.7m shares reported held*
63.7% of all shares outstanding*
$16.5mreported value*
7 new 20 added 19 reduced 15 sold out net sold ≈ $4.2m (-5.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($68.3k this quarter). Holder counts are more reliable. Shares outstanding: 67.0m as of 2026-08-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $0.39. Options: 3 managers hold calls ($67.5k notional), 3 hold puts ($18.0k).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 153Q4 22: 144Q1 23: 134Q2 23: 124Q3 23: 117Q4 23: 121Q1 24: 124Q2 24: 141Q3 24: 134Q4 24: 125Q1 25: 113Q2 25: 106Q3 25: 88Q4 25: 75Q1 26: 76Q2 26: 6767Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 2022153
Q4 2022144
Q1 2023134
Q2 2023124
Q3 2023117
Q4 2023121
Q1 2024124
Q2 2024141
Q3 2024134
Q4 2024125
Q1 2025113
Q2 2025106
Q3 202588
Q4 202575
Q1 202676
Q2 202667

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 24: 71 bought or addedQ3 24: 75 cut or sold outQ4 24: 44 bought or addedQ4 24: 80 cut or sold outQ4 24Q1 25: 47 bought or addedQ1 25: 69 cut or sold outQ2 25: 58 bought or addedQ2 25: 58 cut or sold outQ2 25Q3 25: 36 bought or addedQ3 25: 60 cut or sold outQ4 25: 29 bought or addedQ4 25: 49 cut or sold outQ4 25Q1 26: 30 bought or addedQ1 26: 34 cut or sold outQ2 26: 27 bought or addedQ2 26: 34 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20247175
Q4 20244480
Q1 20254769
Q2 20255858
Q3 20253660
Q4 20252949
Q1 20263034
Q2 20262734

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$250k$500k$750k$1mQ3 25 calls: $551.2kQ3 25 puts: $956.2kQ3 25P/C 1.73Q4 25 calls: $291.3kQ4 25 puts: $628.1kQ4 25P/C 2.16Q1 26 calls: $55.9kQ1 26 puts: $38.2kQ1 26P/C 0.68Q2 26 calls: $67.5kQ2 26 puts: $18.0kQ2 26P/C 0.27
Numbers
QuarterCallsPutsP/C
Q3 2025$551.2k$956.2k1.73
Q4 2025$291.3k$628.1k2.16
Q1 2026$55.9k$38.2k0.68
Q2 2026$67.5k$18.0k0.27

Biggest buyers

IAT REINSURANCE CO LTD. Added +1,000,000+1.0m
BARCLAYS PLC Added +630,889+630.9k
WHITEBOX ADVISORS LLC Added +411,080+411.1k
MARSHALL WACE, LLP Added +147,065+147.1k
Squarepoint Ops LLC Added +143,301+143.3k
BlackRock, Inc. Added +107,381+107.4k
HRT FINANCIAL LP New +106,785+106.8k
GSA CAPITAL PARTNERS LLP Added +69,012+69.0k
Jain Global LLC Added +63,873+63.9k
RENAISSANCE TECHNOLOGIES LLC Added +46,500+46.5k

Biggest sellers

Atlas FRM LLC Reduced -2,553,209-2.6m
READYSTATE ASSET MANAGEMENT LP Reduced -1,353,838-1.4m
WELLS FARGO & COMPANY/MN Reduced -1,054,178-1.1m
AMERICAN CENTURY COMPANIES INC Sold out -1,012,593-1.0m
Solas Capital Management, LLC Sold out -790,338-790.3k
DIMENSIONAL FUND ADVISORS LP Reduced -590,732-590.7k
BRIDGEWAY CAPITAL MANAGEMENT, LLC Reduced -184,213-184.2k
CITADEL ADVISORS LLC Reduced -141,634-141.6k
Graham Capital Management, L.P. Sold out -135,587-135.6k
GOLDMAN SACHS GROUP INC Sold out -61,181-61.2k

Biggest calls

CITADEL ADVISORS LLC New $41.4k62.7k shares
WOLVERINE ASSET MANAGEMENT LLC Unchanged $26.0k39.4k shares
SIMPLEX TRADING, LLC New $66100 shares

Biggest puts

WOLVERINE ASSET MANAGEMENT LLC Unchanged $17.6k26.7k shares
SIMPLEX TRADING, LLC New $330500 shares
GROUP ONE TRADING LLC Reduced $66100 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
KELLOGG PETER R 13D · may seek influence +2.4 pts · filed 2026-07-31
Stated purposeOn December 2, 2019, Peter Kellogg (as seller) and Charles Kellogg (as buyer) entered into a Stock Purchase Agreement (the "Purchase Agreement") pursuant to which Peter Kellogg sold to Charles Kellogg all 100,005 issued and outstanding shares of Class A Voting Preferred Stock, par value $1.00 per share, of Goose Creek Capital, Inc., representing all of the voting equity of Goose Creek Capital, Inc. The transaction closed on January 19, 2021, at which time, subject to the oral agreement described in Item 6 below, Charles Kellogg indirectly acquired voting control over the Shares held by Goose Creek Capital, Inc. and its direct and indirect subsidiaries, including IAT Reinsurance Company Ltd., IAT Insurance Group, Inc., Harco National Insurance Company, and Harco's direct and indirect insura… Full filing
40.2% +2.4 pts 27.0m≈ $17.8m 2026-07-31
REDWOOD CAPITAL MANAGEMENT, LLC 13G · passive investor +1.9 pts · filed 2025-11-14 6.9% +1.9 pts 4.6m≈ $3.1m 2025-11-14
BARCLAYS PLC 13G · institution new · filed 2026-05-14 5.8% new 3.9m≈ $2.5m 2026-05-14
WHITEBOX ADVISORS LLC 13G · passive investor new · filed 2026-08-14 5.4% new 3.6m≈ $2.4m 2026-08-14

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q4 24: 0 buyingQ4 24: 1 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 4 buyingQ2 25: 0 sellingQ3 25: 2 buyingQ3 25: 0 sellingQ3 25Q4 25: 0 buyingQ4 25: 0 sellingQ1 26: 1 buyingQ1 26: 0 sellingQ1 26Q2 26: 0 buyingQ2 26: 0 sellingQ3 26: 0 buyingQ3 26: 0 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20240—1$167.5k—
Q1 20250—0——
Q2 20254$90.8k0——
Q3 20252$42.8k0——
Q4 20250—0——
Q1 20261$1.9k0——
Q2 20260—0——
Q3 20260—0——
DateInsiderTradeSharesPrice ValueTheir holding
2026-06-12 KELLOGG PETER R 10% owner Bought 51,441 $0.92 $47.5k51.4k shares +4%
2026-06-11 KELLOGG PETER R 10% owner Bought 136,000 $0.86 $117.0k136.0k shares +11%
2026-06-10 KELLOGG PETER R 10% owner Bought 36,000 $0.82 $29.5k36.0k shares +3%
2026-06-09 KELLOGG PETER R 10% owner Bought 23,637 $0.79 $18.7k23.6k shares +2%
2026-06-08 KELLOGG PETER R 10% owner Bought 34,733 $0.80 $27.8k34.7k shares +3%
2026-06-05 KELLOGG PETER R 10% owner Bought 36,000 $0.85 $30.6k36.0k shares +3%
2026-06-04 KELLOGG PETER R 10% owner Bought 36,000 $0.89 $32.0k36.0k shares +4%
2026-06-02 KELLOGG PETER R 10% owner Bought 1,047 $0.92 $9631.0k shares +<1%
2026-06-01 KELLOGG PETER R 10% owner Bought 64,885 $0.90 $58.5k64.9k shares +7%
2026-05-19 KELLOGG PETER R 10% owner · Via Harco Bought 105,000 $0.97 $101.8k105.0k shares +6%
2026-05-18 KELLOGG PETER R 10% owner · Via Harco Bought 380,000 $0.96 $364.8k380.0k shares +26%
2026-05-15 KELLOGG PETER R 10% owner · Via Harco Bought 215,000 $0.95 $204.2k215.0k shares +17%
2026-05-14 KELLOGG PETER R 10% owner · Via Harco Bought 200,000 $0.88 $176.0k200.0k shares +19%
2026-05-12 KELLOGG PETER R 10% owner · Via Harco Bought 57,000 $0.88 $50.2k57.0k shares +6%
2026-05-12 KELLOGG PETER R 10% owner · Via E.G. Anderson Inc. Bought 43,000 $0.84 $36.1k43.0k shares +20%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 IAT REINSURANCE CO LTD. 0.25% of their portfolio New York, NY 18,220,00018.2m $415.8k $415.8k 0.25% Added +1.0m +1,000,000
2 REDWOOD CAPITAL MANAGEMENT, LLC 0.33% of their portfolio New York, NY 4,648,1334.6m $3.1m $3.1m 0.33% Unchanged
3 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,950,9704.0m $2.6m $2.6m 0.00% Added +630.9k +630,889
4 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 3,300,0003.3m $2.2m $2.2m 0.00% Unchanged
5 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 1,963,3542.0m $1.3m $1.3m 0.00% Reduced -590.7k -590,732
6 WHITEBOX ADVISORS LLC 0.02% of their portfolio MINNEAPOLIS, MN 1,468,7381.5m $969.4k $969.4k 0.02% Added +411.1k +411,080
7 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,209,3621.2m $798.2k $798.2k 0.00% Added +107.4k +107,381
8 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 787,371787.4k $519.7k $519.7k 0.00% Unchanged
9 Benefit Street Partners LLC 0.75% of their portfolio NEW YORK, NY 787,371787.4k $519.7k $519.7k 0.75% Unchanged
10 Atlas FRM LLC 0.02% of their portfolio GREENWICH, CT 596,791596.8k $393.9k $393.9k 0.02% Reduced -2.6m -2,553,209
11 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 582,361582.4k $384.4k $384.4k 0.00% Reduced -32.9k -32,862
12 GSA CAPITAL PARTNERS LLP 0.02% of their portfolio LONDON, X0 574,502574.5k $379.0k $379.0k 0.02% Added +69.0k +69,012
13 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 500,415500.4k $330.4k $330.4k 0.00% Added +22.2k +22,191
14 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 475,860475.9k $314.1k $314.1k 0.00% Reduced -1.8k -1,784
15 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 408,317408.3k $269.5k $269.5k 0.00% Unchanged
16 AEGIS FINANCIAL CORP 0.03% of their portfolio MC LEAN, VA 308,927308.9k $203.9k $203.9k 0.03% Unchanged
17 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 287,868287.9k $190.0k $190.0k 0.00% Added +147.1k +147,065
18 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 219,432219.4k $144.8k $144.8k 0.00% Added +1.8k +1,784
19 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 218,958219.0k $144.5k $144.5k 0.00% Reduced -30.3k -30,288
20 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 215,631215.6k $142.3k $142.3k 0.00% Reduced -482 -482
21 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio HOUSTON, TX 204,636204.6k $135.1k $135.1k 0.00% Reduced -184.2k -184,213
22 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 161,818161.8k $106.8k $106.8k 0.00% Added +143.3k +143,301
23 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 150,080150.1k $99.1k $99.1k 0.00% Unchanged
24 UBS Group AG 0.00% of their portfolio ZURICH, V8 150,027150.0k $99.0k $99.0k 0.00% Reduced -24.0k -24,043
25 Merrion Investment Management Co, LLC 0.05% of their portfolio Cranford, NJ 150,000150.0k $99.0k $99.0k 0.05% Unchanged
26 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 118,044118.0k $77.9k $77.9k 0.00% Added +1.7k +1,671
27 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 111,221111.2k $73.4k $73.4k 0.00% Reduced -8.0k -7,959
28 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 106,785106.8k $70.0k $70.0k 0.00% New
29 Empowered Funds, LLC 0.00% of their portfolio NEWTOWN SQUARE, PA 101,736101.7k $67.1k $67.1k 0.00% Reduced -50.0k -50,000
30 Jain Global LLC 0.00% of their portfolio NEW YORK, NY 74,04874.0k $48.9k $48.9k 0.00% Added +63.9k +63,873
31 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 62,51162.5k $41.3k $41.3k 0.00% Added +46.5k +46,500
32 TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio STAMFORD, CT 56,48556.5k $37.3k $37.3k 0.00% Unchanged
33 SHUFRO ROSE & CO LLC 0.00% of their portfolio NEW YORK, NY 54,50054.5k $36.0k $36.0k 0.00% Unchanged
34 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 43,08243.1k $28.4k $28.4k 0.00% Reduced -8.9k -8,907
35 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 42,39142.4k $28.0k $28.0k 0.00% Reduced -21.1k -21,075
36 R Squared Ltd 0.01% of their portfolio HONG KONG, K3 41,17741.2k $27.2k $27.2k 0.01% Added +11.2k +11,206
37 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 39,49239.5k $26.0k $26.0k 0.00% New
38 LRI Investments, LLC 0.00% of their portfolio PALM BEACH GARDENS, FL 37,00037.0k $24.4k $24.4k 0.00% New
39 Net Worth Advisory Group 0.01% of their portfolio SANDY, UT 30,38130.4k $20.1k $20.1k 0.01% Reduced -2.2k -2,200
40 READYSTATE ASSET MANAGEMENT LP 0.00% of their portfolio CHICAGO, IL 30,00030.0k $19.8k $19.8k 0.00% Reduced -1.4m -1,353,838
41 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 29,00029.0k $19.1k $19.1k 0.00% Added +13.0k +13,000
42 Virtu Financial LLC 0.00% of their portfolio New York, NY 25,79425.8k $17.0k $17.0k 0.00% Added +9.0k +8,985
43 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 23,70523.7k $15.6k $15.6k 0.00% Reduced -141.6k -141,634
44 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 23,00523.0k $16.0k $16.0k 0.00% Added +5.3k +5,346
45 Daytona Street Capital LLC 0.01% of their portfolio SAINT LOUIS, MO 20,00020.0k $12.6k $12.6k 0.01% Unchanged
46 OPPENHEIMER & CO INC 0.00% of their portfolio NEW YORK, NY 19,25919.3k $12.7k $12.7k 0.00% Reduced -43.6k -43,620
47 IMC-Chicago, LLC 0.00% of their portfolio CHICAGO, IL 18,43218.4k $12.2k $12.2k 0.00% New
48 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 16,55816.6k $10.9k $10.9k 0.00% Unchanged
49 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 14,87914.9k $9.8k $9.8k 0.00% New
50 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 14,84714.8k $9.8k $9.8k 0.00% Unchanged
51 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 12,86712.9k $8.5k $8.5k 0.00% Reduced -8.8k -8,831
52 JMN Financial LLC 0.01% of their portfolio NEW ALBANY, OH 10,84110.8k $7.2k $7.2k 0.01% New
53 Joel Isaacson & Co., LLC 0.00% of their portfolio NEW YORK, NY 10,00010.0k $6.6k $6.6k 0.00% Unchanged
54 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 9,4009.4k $6.2k $6.2k 0.00% Added +3 +3
55 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 8,2558.3k $5.5k $5.5k 0.00% Added +1.6k +1,565
56 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 5,7005.7k $3.8k $3.8k 0.00% Added +2.5k +2,500
57 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,6122.6k $1.7k $1.7k 0.00% Reduced -1.1m -1,054,178
58 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 2,5492.5k $1.7k $1.7k 0.00% Unchanged
59 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,9001.9k $1.3k $1.3k 0.00% Unchanged
60 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 1,7001.7k $1.1k $1.1k 0.00% Reduced -6.9k -6,900
61 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 764764 $504 $504 0.00% New
62 Olistico Wealth, LLC 0.00% of their portfolio TULSA, OK 755755 $498 $498 0.00% Unchanged
63 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 447447 $295 $295 0.00% Unchanged
64 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 435435 $287 $287 0.00% Added +24 +24
65 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 4444 $29 $29 0.00% Unchanged
66 Intesa Sanpaolo S.p.A. 0.00% of their portfolio TURIN, L6 1414 $9 $9 0.00% Unchanged
67 Caitong International Asset Management Co., Ltd 0.00% of their portfolio HONG KONG, K3 11 $1 $1 0.00% Unchanged