STEEL DYNAMICS INC STLD
COM · Common Stock · CUSIP 858119100 · ISIN US8581191009
American materials company
- SectorMaterials
- IndustrySteel Works, Blast Furnaces & Rolling Mills (Coke Ovens)
- HeadquartersFort Wayne, IN
- Founded1993
- Websitesteeldynamics.com
- FilingsSEC EDGAR
* 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 ($92.2m this quarter). Holder counts are more reliable. Shares outstanding: 144.2m as of 2026-04-22, 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 ≈ $179.72. Options: 20 managers hold calls ($196.1m notional), 19 hold puts ($154.4m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 588 |
| Q4 2022 | 675 |
| Q1 2023 | 720 |
| Q2 2023 | 705 |
| Q3 2023 | 691 |
| Q4 2023 | 768 |
| Q1 2024 | 780 |
| Q2 2024 | 784 |
| Q3 2024 | 790 |
| Q4 2024 | 797 |
| Q1 2025 | 809 |
| Q2 2025 | 816 |
| Q3 2025 | 804 |
| Q4 2025 | 915 |
| Q1 2026 | 939 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 391 | 334 |
| Q3 2024 | 335 | 403 |
| Q4 2024 | 355 | 376 |
| Q1 2025 | 374 | 390 |
| Q2 2025 | 363 | 410 |
| Q3 2025 | 345 | 404 |
| Q4 2025 | 428 | 350 |
| Q1 2026 | 439 | 411 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $117.8m | $142.4m | 1.21 |
| Q3 2025 | $228.6m | $151.2m | 0.66 |
| Q4 2025 | $245.2m | $154.2m | 0.63 |
| Q1 2026 | $196.1m | $154.4m | 0.79 |
Biggest buyers
| FMR LLC | Added | +1.4m |
| BESSEMER GROUP INC | Added | +541.2k |
| JPMORGAN CHASE & CO | Added | +447.5k |
| Bridgewater Associates, LP | New | +438.1k |
| CITADEL ADVISORS LLC | Added | +406.7k |
| AustralianSuper Pty Ltd | Added | +392.9k |
| Bornite Capital Management LP | New | +350.0k |
| Caisse de depot et placement du Quebec | Added | +281.4k |
| Castle Hook Partners LP | New | +269.6k |
| STATE STREET CORP | Added | +262.5k |
Biggest sellers
| HSBC HOLDINGS PLC | Reduced | -1.0m |
| Robeco Institutional Asset Management B.V. | Reduced | -810.9k |
| Life Cycle Investment Partners Ltd | Reduced | -766.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -762.5k |
| 1832 Asset Management L.P. | Reduced | -548.9k |
| ROYAL LONDON ASSET MANAGEMENT LTD | Reduced | -426.7k |
| KBC Group NV | Reduced | -396.2k |
| DEUTSCHE BANK AG\ | Reduced | -362.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -317.1k |
| Nuveen, LLC | Reduced | -271.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $62.2m345.7k shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | New | $28.7m160.6k shares |
| CITADEL ADVISORS LLC | Reduced | $17.0m94.3k shares |
| PEAK6 LLC | Reduced | $16.2m89.9k shares |
| JANE STREET GROUP, LLC | Reduced | $13.9m77.3k shares |
| IMC-Chicago, LLC | Reduced | $9.4m52.0k shares |
| Walleye Trading LLC | Reduced | $8.9m49.3k shares |
| Alphadyne Asset Management LP | Added | $7.7m43.0k shares |
| SIMPLEX TRADING, LLC | Added | $7.0m39.1k shares |
| JPMORGAN CHASE & CO | New | $6.4m37.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $42.2m234.4k shares |
| JANE STREET GROUP, LLC | Added | $20.4m113.6k shares |
| Alphadyne Asset Management LP | Added | $14.8m82.3k shares |
| Walleye Trading LLC | Reduced | $13.3m73.8k shares |
| CITADEL ADVISORS LLC | Reduced | $11.2m62.2k shares |
| CITIGROUP INC | Added | $10.4m57.6k shares |
| IMC-Chicago, LLC | Added | $7.2m39.9k shares |
| JPMORGAN CHASE & CO | New | $6.4m37.5k shares |
| Walleye Capital LLC | Added | $4.7m26.1k shares |
| CREDIT INDUSTRIEL ET COMMERCIAL | Reduced | $4.0m22.5k 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.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-02-05 | 7.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.1% |
| FMR LLC 13G · institution new · filed 2026-08-06 | 5.4% |
| STATE STREET CORP 13G · institution new · filed 2026-05-12 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 1 | $2.9m | — |
| Q3 2024 | 0 | — | 2 | $449.8k | — |
| Q4 2024 | 0 | — | 5 | $5.2m | — |
| Q1 2025 | 0 | — | 1 | $3.2m | — |
| Q2 2025 | 0 | — | 2 | $1.2m | — |
| Q3 2025 | 0 | — | 1 | $1.5m | — |
| Q4 2025 | 0 | — | 1 | $1.3m | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.04% of their portfolio | 12.4m $2.2bn | Added +228.0k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 9.0m $1.6bn | First filing |
| STATE STREET CORP 0.05% of their portfolio | 7.5m $1.4bn | Added +262.5k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.06% of their portfolio | 6.8m $1.2bn | First filing |
| FMR LLC 0.04% of their portfolio | 4.4m $794.1m | Added +1.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 3.8m $687.8m | Added +162.0k |
| Capital Research Global Investors 0.10% of their portfolio | 3.6m $653.6m | Added +7.8k |
| MORGAN STANLEY 0.03% of their portfolio | 3.1m $566.8m | Reduced -119.7k |
| Life Cycle Investment Partners Ltd 3.09% of their portfolio | 2.7m $485.3m | Reduced -766.0k |
| Holocene Advisors, LP 1.00% of their portfolio | 2.3m $412.0m | Reduced -269.5k |
| NORDEA INVESTMENT MANAGEMENT AB 0.36% of their portfolio | 2.2m $386.4m | Added +76.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 2.1m $382.0m | Reduced -762.5k |
| Invesco Ltd. 0.04% of their portfolio | 2.0m $366.4m | Added +70.7k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 2.0m $353.6m | Reduced -195.4k |
| VICTORY CAPITAL MANAGEMENT INC 0.22% of their portfolio | 1.9m $350.4m | Reduced -184.6k |
| Boston Partners 0.33% of their portfolio | 1.8m $317.7m | Reduced -28.9k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 1.8m $301.7m | Added +447.5k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 1.6m $291.7m | Reduced -105 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 1.5m $266.2m | Added +34.7k |
| LORD, ABBETT & CO. LLC 0.85% of their portfolio | 1.4m $259.4m | Reduced -188.5k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.4m $256.9m | Added +187.6k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.3m $241.2m | Added +215.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.2m $219.6m | Reduced -317.1k |
| Robeco Institutional Asset Management B.V. 0.31% of their portfolio | 1.2m $215.5m | Reduced -810.9k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.41% of their portfolio | 1.1m $197.9m | Reduced -426.7k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.27% of their portfolio | 1.1m $196.1m | Added +35.5k |
| HSBC HOLDINGS PLC 0.11% of their portfolio | 1.1m $188.8m | Reduced -1.0m |
| FIL Ltd 0.15% of their portfolio | 1.0m $189.0m | Reduced -187.1k |
| Nuveen, LLC 0.05% of their portfolio | 941.5k $169.5m | Reduced -271.1k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 938.6k $168.9m | Added +33.4k |
| Thrivent Financial for Lutherans 0.31% of their portfolio | 901.4k $162.3m | Reduced -64.5k |
| VANGUARD FIDUCIARY TRUST CO 0.04% of their portfolio | 775.5k $139.6m | First filing |
| Caisse de depot et placement du Quebec 0.22% of their portfolio | 761.8k $137.1m | Added +281.4k |
| LSV ASSET MANAGEMENT 0.28% of their portfolio | 714.8k $128.7m | Reduced -63.0k |
| Legal & General Group Plc 0.03% of their portfolio | 688.1k $123.9m | Reduced -38.7k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 603.7k $108.7m | Reduced -362.0k |
| BESSEMER GROUP INC 0.15% of their portfolio | 542.2k $97.6m | Added +541.2k |
| STIFEL FINANCIAL CORP 0.09% of their portfolio | 541.2k $97.4m | Added +37.7k |
| STOREBRAND ASSET MANAGEMENT AS 0.27% of their portfolio | 518.4k $93.3m | Reduced -9.2k |
| NEUBERGER BERMAN GROUP LLC 0.07% of their portfolio | 514.5k $92.4m | Reduced -56.2k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 512.6k $92.3m | Added +406.7k |
| Bridgewater Associates, LP 0.35% of their portfolio | 438.1k $78.9m | New |
| Swiss National Bank 0.04% of their portfolio | 407.1k $73.3m | Added +23.9k |
| AustralianSuper Pty Ltd 0.38% of their portfolio | 406.9k $73.3m | Added +392.9k |
| UBS Group AG 0.01% of their portfolio | 384.1k $69.1m | Added +78.8k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 363.3k $61.6m | Reduced -21.1k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 355.2k $63.9m | Reduced -51.1k |
| Bornite Capital Management LP 10.59% of their portfolio | 350.0k $63.0m | New |
| Allianz Asset Management GmbH 0.07% of their portfolio | 344.5k $62.0m | Added +67.9k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 342.4k $59.9m | Reduced -4.9k |
| DANSKE BANK A/S 0.15% of their portfolio | 342.3k $61.6m | Added +66.7k |
| SAPIENT CAPITAL LLC 0.91% of their portfolio | 332.6k $60.0m | Reduced -18 |
| Amundi 0.02% of their portfolio | 331.8k $59.7m | Added +87.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.05% of their portfolio | 321.7k $57.9m | Reduced -5.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 314.3k $56.6m | Reduced -17.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 312.7k $56.3m | Added +18.7k |
| National Pension Service 0.04% of their portfolio | 311.1k $56.0m | Added +22.9k |
| Vanguard Global Advisers, LLC 0.03% of their portfolio | 306.0k $55.1m | First filing |
| California Public Employees Retirement System 0.03% of their portfolio | 298.1k $53.7m | Added +12.6k |
| BARCLAYS PLC 0.02% of their portfolio | 286.4k $51.6m | Reduced -50.8k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 270.5k $48.7m | Reduced -45.5k |
| Castle Hook Partners LP 0.98% of their portfolio | 269.6k $48.5m | New |
| VAN ECK ASSOCIATES CORP 0.04% of their portfolio | 265.3k $47.7m | Reduced -11.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 265.1k $47.7m | Added +45.9k |
| AEGON ASSET MANAGEMENT UK Plc 0.61% of their portfolio | 257.9k $46.2m | Reduced -22.0k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 255.8k $46.0m | Reduced -10.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 254.9k $45.9m | Reduced -39.8k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.04% of their portfolio | 244.6k $44.0m | First filing |
| Qube Research & Technologies Ltd 0.06% of their portfolio | 243.6k $43.9m | Added +168.8k |
| CITIGROUP INC 0.03% of their portfolio | 231.1k $41.6m | Added +68.6k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 229.3k $40.9m | Added +26.5k |
| PFA Pension, Forsikringsaktieselskab 0.12% of their portfolio | 223.0k $40.1m | Reduced -9.3k |
| Balyasny Asset Management L.P. 0.08% of their portfolio | 222.3k $40.0m | Added +219.9k |
| Swedbank AB 0.04% of their portfolio | 214.9k $38.7m | Reduced -18.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.06% of their portfolio | 203.0k $36.5m | Added +54.1k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 191.7k $34.5m | Added +8.3k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 190.8k $34.3m | Added +107.9k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 189.4k $34.1m | Added +39.6k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 185.2k $33.3m | Added +28.3k |
| Connor, Clark & Lunn Investment Management Ltd. 0.08% of their portfolio | 181.4k $32.7m | Added +59.2k |
| Baird Financial Group, Inc. 0.05% of their portfolio | 171.0k $30.8m | Added +7.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 168.9k $30.4m | Added +3.0k |
| WINMILL & CO. INC 8.76% of their portfolio | 168.7k $30.4m | Unchanged |
| PBU - The Pension Fund of Early Childhood & Youth Educators 0.44% of their portfolio | 164.0k $29.5m | Added +52.4k |
| Hosking Partners LLP 1.05% of their portfolio | 163.5k $29.4m | Reduced -18 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 161.6k $29.1m | Reduced -5.4k |
| Aberdeen Group plc 0.05% of their portfolio | 160.2k $28.8m | Added +15.0k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.05% of their portfolio | 154.3k $27.8m | Reduced -4.3k |
| Ninety One UK Ltd 0.06% of their portfolio | 152.7k $27.5m | Added +18.5k |
| DekaBank Deutsche Girozentrale 0.04% of their portfolio | 142.9k $26.2m | Unchanged |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 134.9k $24.3m | Reduced -29.4k |
| BI Asset Management Fondsmaeglerselskab A/S 0.25% of their portfolio | 133.1k $24.0m | Added +7.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 131.5k $23.7m | Reduced -3.0k |
| STRS OHIO 0.09% of their portfolio | 127.0k $22.9m | Reduced -26.9k |
| Ensign Peak Advisors, Inc 0.04% of their portfolio | 125.7k $22.6m | Reduced -25.8k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 125.6k $22.6m | Added +7.9k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 124.8k $22.5m | Added +12.0k |
| AVIVA PLC 0.04% of their portfolio | 122.6k $22.1m | Added +3.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 122.5k $22.0m | Unchanged |
| Fisher Asset Management, LLC 0.01% of their portfolio | 117.4k $21.1m | Added +12.3k |