Merck & Co., Inc.
MX ˙ BMV ˙ US58933Y1055
SecurityMX:MRK / Merck & Co., Inc.
InstitutionNicolet Advisory Services, Llc
Latest Disclosed Ownership12,786 shares
Latest Disclosed Value $ 1,396,094
Nicolet Advisory Services, Llc reports 9.12% increase in ownership of MRK / Merck & Co., Inc.

On February 13, 2026 - Nicolet Advisory Services, Llc filed a 13F-HR form disclosing ownership of 12,786 shares of Merck & Co., Inc. (MX:MRK) valued at $1,396,094 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 11,717 shares of Merck & Co., Inc.. This represents a change in shares of 9.12% during the quarter.

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)
2026-02-13 2025-12-31 13F MERCK COM 58933Y105 12,786 1,069 9.12 1,396 36.06 0.0940
2025-11-13 2025-09-30 13F MERCK COM 58933Y105 11,717 -1,408 -10.73 1,027 -1.35 0.0799
2025-08-13 2025-06-30 13F MERCK COM 58933Y105 13,125 934 7.66 1,041 10.05 0.0885
2025-05-08 2025-03-31 13F MERCK COM 58933Y105 12,191 -2,027 -14.26 945 -33.03 0.0938
2025-02-12 2024-12-31 13F MERCK COM 58933Y105 14,218 362 2.61 1,411 -7.54 0.1296
2024-11-12 2024-09-30 13F MERCK COM 58933Y105 13,856 -1,059 -7.10 1,527 -19.60 0.1441
2024-08-14 2024-06-30 13F MERCK COM 58933Y105 14,915 413 2.85 1,899 3.32 0.1819
2024-05-10 2024-03-31 13F MERCK COM 58933Y105 14,502 923 6.80 1,838 15.46 0.1866
2024-02-13 2023-12-31 13F MERCK COM 58933Y105 13,579 -193 -1.40 1,592 13.08 0.1712
2023-11-07 2023-09-30 13F MERCK COM 58933Y105 13,772 183 1.35 1,407 -7.31 0.1559
2023-08-09 2023-06-30 13F MERCK COM 58933Y105 13,589 412 3.13 1,519 2.57 0.1666
2023-05-09 2023-03-31 13F MERCK COM 58933Y105 13,177 1,271 10.68 1,480 11.95 0.1706
2023-02-09 2022-12-31 13F MERCK COM 58933Y105 11,906 1,879 18.74 1,322 45.76 0.1748
2022-11-10 2022-09-30 13F MERCK COM 58933Y105 10,027 106 1.07 907 -1.73 0.1479
2022-08-08 2022-06-30 13F MERCK COM 58933Y105 9,921 -31 -0.31 923 5.73 0.1370
2022-05-10 2022-03-31 13F MERCK & CO. COM 58933Y105 9,952 130 1.32 873 15.94 0.1140
2022-02-08 2021-12-31 13F MERCK COM 58933Y105 9,822 232 2.42 753 4.58 0.0926
2021-11-16 2021-09-30 13F MERCK COM 58933Y105 9,590 137 1.45 720 -2.04 0.0913
2021-08-11 2021-06-30 13F MERCK COM 58933Y105 9,453 -107 -1.12 735 -0.27 0.0959
2021-05-03 2021-03-31 13F MERCK & CO. COM 58933Y105 9,560 1,225 14.70 737 8.06 0.1034
2021-02-09 2020-12-31 13F MERCK & CO. COM 58933Y105 8,335 1,020 13.94 682 12.36 0.0956
2020-10-27 2020-09-30 13F MERCK & CO. COM 58933Y105 7,315 -4,802 -39.63 607 -35.22 0.0943
2020-08-14 2020-06-30 13F MERCK & CO. COM 58933Y105 12,117 984 8.84 937 9.33 0.1440
2020-04-21 2020-03-31 13F MERCK & CO. COM 58933Y105 11,133 3,349 43.02 857 21.05 0.1510
2020-01-23 2019-12-31 13F MERCK COM 58933Y105 7,784 -289 -3.58 708 4.12 0.1112
2019-10-22 2019-09-30 13F MERCK COM 58933Y105 8,073 -1,251 -13.42 680 -13.04 0.1032
2019-07-26 2019-06-30 13F MERCK COM 58933Y105 9,324 -54 -0.58 782 0.26 0.1194
2019-05-10 2019-03-31 13F MERCK COM 58933Y105 9,378 9,378 780 0.1324
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.