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MERCHANTS BANCSHARES COM
MERCHANTS BANCSHARES COM. Institutional holdings reported to the SEC.

Institutional Holders (2015Q1)
Portfolio Summary: 62 Institutional holders with a total value of $66,303,895.
#
Manager Name
Shares
Value ($)
%
Options
Notes
1 AMERIPRISE FINANCIAL INC 311,786 9,095,000 13.72%
2 BlackRock Institutional Trust Company, N.A. 245,308 7,156,000 10.79%
3 DIMENSIONAL FUND ADVISORS LP 226,808 6,616,000 9.98%
4 VANGUARD GROUP INC 143,729 4,193,000 6.32%
5 BlackRock Fund Advisors 142,806 4,166,000 6.28%
6 CASTINE CAPITAL MANAGEMENT, LLC 130,513 3,807,000 5.74%
7 Elizabeth Park Capital Advisors, Ltd. 89,831 2,620,000 3.95%
8 STATE STREET CORP 82,059 2,395,000 3.61%
9 AMICA MUTUAL INSURANCE CO 76,639 2,236,000 3.37%
10 NORTHERN TRUST CORP 65,417 1,908,000 2.88%
11 LSV ASSET MANAGEMENT 61,114 1,782,000 2.69%
12 GEODE CAPITAL MANAGEMENT, LLC 58,031 1,692,000 2.55%
13 CRAWFORD INVESTMENT COUNSEL INC 53,079 1,548,000 2.33%
14 Clean Yield Group 52,138 1,521,000 2.29%
15 PRENTISS SMITH & CO INC 47,294 1,380,000 2.08%
16 AMICA PENSION FUND BOARD OF TRUSTEES 46,583 1,359,000 2.05%
17 BRIDGEWAY CAPITAL MANAGEMENT, LLC 44,000 1,283,000 1.94%
18 Bank of New York Mellon Corp 39,383 1,149,000 1.73%
19 RENAISSANCE TECHNOLOGIES LLC 39,300 1,146,000 1.73%
20 EJF Capital LP 35,099 1,024,000 1.54%
21 CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM 29,200 827,000 1.25%
22 TIAA CREF INVESTMENT MANAGEMENT LLC 25,233 736,000 1.11%
23 Invesco Ltd. 18,579 542,000 0.82%
24 BlackRock Investment Management, LLC 17,680 516,000 0.78%
25 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 13,596 397,000 0.60%
26 THOMASPARTNERS, INC. 13,460 393,000 0.59%
27 PARAMETRIC PORTFOLIO ASSOCIATES LLC 12,185 355,000 0.54%
28 CORNERSTONE CAPITAL MANAGEMENT HOLDINGS LLC. 10,000 292,000 0.44%
29 FMR LLC 10,000 292,000 0.44%
30 STRS OHIO 9,900 288,000 0.43%
31 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 9,501 277,000 0.42%
32 Hanson & Doremus Investment Management 9,372 273,000 0.41%
33 SALZHAUER MICHAEL 8,360 244,000 0.37%
34 DEUTSCHE BANK AG\ 8,014 232,000 0.35%
35 Community Bank, N.A. 7,750 226,000 0.34%
36 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 7,674 224,000 0.34%
37 RHUMBLINE ADVISERS 7,473 218,000 0.33%
38 Amica Retiree Medical Trust 7,276 212,000 0.32%
39 TRUST CO OF VERMONT 7,192 210,000 0.32%
40 TEACHERS ADVISORS, LLC 6,416 187,000 0.28%
41 FIRST MANHATTAN CO. LLC. 6,000 175,000 0.26%
42 MORGAN STANLEY 5,364 156,000 0.24%
43 ALLIANCEBERNSTEIN L.P. 5,200 152,000 0.23%
44 Nationwide Fund Advisors 4,465 130,000 0.20%
45 BLACKROCK ADVISORS LLC 3,524 103,000 0.16%
46 AMERICAN INTERNATIONAL GROUP, INC. 3,239 94,482 0.14%
47 UBS Group AG 2,481 72,000 0.11%
48 Brandywine Global Investment Management, LLC 2,010 59,000 0.09%
49 PNC FINANCIAL SERVICES GROUP, INC. 2,000 58,000 0.09%
50 CITIGROUP INC 1,789 52,000 0.08%
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From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.