Merck & Co., Inc.
BG ˙ BUL ˙ US58933Y1055
SecurityBG:6MK / Merck & Co., Inc.
InstitutionGAM Holding AG
Latest Disclosed Ownership130,615 shares
Latest Disclosed Value $ 13,748,535
GAM Holding AG reports 6.28% increase in ownership of 6MK / Merck & Co., Inc.

On February 17, 2026 - GAM Holding AG filed a 13F-HR form disclosing ownership of 130,615 shares of Merck & Co., Inc. (BG:6MK) valued at $13,748,535 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 21, 2025 disclosing 122,901 shares of Merck & Co., Inc.. This represents a change in shares of 6.28% 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)
2026-02-17 2025-12-31 13F MERCK COM 58933Y105 130,615 7,714 6.28 13,749 33.28 0.6666
2025-10-21 2025-09-30 13F MERCK COM 58933Y105 122,901 -583 -0.47 10,315 5.54 0.6375
2025-08-04 2025-06-30 13F MERCK COM 58933Y105 123,484 -2,403 -1.91 9,775 -13.50 0.6872
2025-04-22 2025-03-31 13F MERCK COM 58933Y105 125,887 8,349 7.10 11,300 -3.36 0.8764
2025-01-31 2024-12-31 13F MERCK COM 58933Y105 117,538 8,446 7.74 11,693 -5.62 0.8719
2024-10-22 2024-09-30 13F MERCK COM 58933Y105 109,092 7,689 7.58 12,388 -1.31 0.9877
2024-07-26 2024-06-30 13F MERCK COM 58933Y105 101,403 4,052 4.16 12,554 -2.27 0.9632
2024-05-13 2024-03-31 13F MERCK COM 58933Y105 97,351 441 0.46 12,846 21.58 0.9293
2024-01-23 2023-12-31 13F MERCK COM 58933Y105 96,910 -45,418 -31.91 10,565 -27.89 0.7858
2023-10-16 2023-09-30 13F MERCK COM 58933Y105 142,328 -255 -0.18 14,653 -10.94 1.0819
2023-07-27 2023-06-30 13F MERCK COM 58933Y105 142,583 -200 -0.14 16,453 8.31 1.1357
2023-05-09 2023-03-31 13F MERCK COM 58933Y105 142,783 -5,933 -3.99 15,191 -7.94 1.0539
2023-02-02 2022-12-31 13F MERCK COM 58933Y105 148,716 6,168 4.33 16,500 34.41 1.3245
2022-10-19 2022-09-30 13F MERCK COM 58933Y105 142,548 -413 -0.29 12,276 -5.82 0.9389
2022-07-21 2022-06-30 13F MERCK COM 58933Y105 142,961 43,231 43.35 13,034 59.28 0.8669
2022-05-06 2022-03-31 13F MERCK COM 58933Y105 99,730 13,397 15.52 8,183 23.67 0.3513
2022-02-18 2021-12-31 13F/A-1 MERCK COM 58933Y105 86,333 -49,912 -36.63 6,617 -35.34 0.2949
2022-01-26 2021-12-31 13F MERCK COM 58933Y105 86,333 -49,912 6,617 0.2962
2021-11-12 2021-09-30 13F MERCK COM 58933Y105 136,245 -952 -0.69 10,233 -4.10 0.4761
2021-08-09 2021-06-30 13F MERCK & CO. COM 58933Y105 137,197 -1,266 -0.91 10,670 -0.04 0.4623
2021-05-10 2021-03-31 13F MERCK & CO. COM 58933Y105 138,463 -4,474 -3.13 10,674 -8.71 0.4965
2021-02-10 2020-12-31 13F MERCK & CO. COM 58933Y105 142,937 -592 -0.41 11,693 -1.79 0.6933
2020-11-06 2020-09-30 13F MERCK & CO. COM 58933Y105 143,529 -385 -0.27 11,906 6.99 0.7166
2020-08-10 2020-06-30 13F MERCK & CO. COM 58933Y105 143,914 45,588 46.36 11,128 47.10 0.6917
2020-05-12 2020-03-31 13F MERCK & CO. COM 58933Y105 98,326 61,914 170.04 7,565 128.41 0.5142
2020-02-06 2019-12-31 13F MERCK COM 58933Y105 36,412 -39,752 -52.19 3,312 -48.34 0.1564
2019-11-08 2019-09-30 13F MERCK COM 58933Y105 76,164 -23,027 -23.21 6,411 -22.92 0.2822
2019-08-12 2019-06-30 13F MERCK COM 58933Y105 99,191 1,732 1.78 8,317 2.62 0.3248
2019-05-10 2019-03-31 13F MERCK COM 58933Y105 97,459 -5,844 -5.66 8,105 2.67 0.3405
2019-02-08 2018-12-31 13F MERCK COM 58933Y105 103,303 -10,642 -9.34 7,894 -2.35 0.3995
2018-11-13 2018-09-30 13F MERCK COM 58933Y105 113,945 2,809 2.53 8,084 19.83 0.2942
2018-08-09 2018-06-30 13F MERCK COM 58933Y105 111,136 3,792 3.53 6,746 15.38 0.2346
2018-05-15 2018-03-31 13F MERCK COM 58933Y105 107,344 -18,281 -14.55 5,847 -17.29 0.2063
2018-02-14 2017-12-31 13F MERCK COM 58933Y105 125,625 16,545 15.17 7,069 1.22 0.2168
2017-11-14 2017-09-30 13F MERCK COM 58933Y105 109,080 -867,906 -88.84 6,984 -88.85 0.2947
2017-08-07 2017-06-30 13F MERCK COM 58933Y105 976,986 32,414 3.43 62,615 4.33 0.9235
2017-05-12 2017-03-31 13F MERCK COM 58933Y105 944,572 154,302 19.53 60,018 29.01 0.9482
2017-02-10 2016-12-31 13F MERCK COM 58933Y105 790,270 -94,610 -10.69 46,523 -15.76 0.8155
2016-11-07 2016-09-30 13F MERCK COM 58933Y105 884,880 -227,960 -20.48 55,224 -13.86 0.9704
2016-08-11 2016-06-30 13F MERCK COM 58933Y105 1,112,840 -9,620 -0.86 64,110 7.95 0.9941
2016-05-13 2016-03-31 13F MERCK & CO INC COM 58933Y105 1,122,460 -24,351 -2.12 59,389 -1.96 0.9886
2016-02-08 2015-12-31 13F MERCK & CO INC COM 58933Y105 1,146,811 34,310 3.08 60,574 10.24 0.9434
2015-11-12 2015-09-30 13F MERCK & CO INC COM 58933Y105 1,112,501 69,283 6.64 54,947 -7.48 0.9444
2015-07-27 2015-06-30 13F MERCK & CO INC COM 58933Y105 1,043,218 225,071 27.51 59,391 26.29 0.8597
2015-05-12 2015-03-31 13F MERCK & CO INC COM 58933Y105 818,147 72,263 9.69 47,027 11.02 0.7035
2015-02-06 2014-12-31 13F MERCK & CO INC COM 58933Y105 745,884 -117,341 -13.59 42,360 -17.22 0.6328
2014-11-12 2014-09-30 13F MERCK & CO INC COM 58933Y105 863,225 -31,919 -3.57 51,173 -1.18 0.7434
2014-08-11 2014-06-30 13F MERCK & CO INC COM 58933Y105 895,144 -35,328 -3.80 51,784 -1.97 0.7858
2014-05-15 2014-03-31 13F MERCK & CO INC COM 58933Y105 930,472 37,356 4.18 52,823 18.17 0.8483
2014-02-12 2013-12-31 13F MERCK & CO INC COM 58933Y105 893,116 225,019 33.68 44,699 40.53 0.7795
2013-11-12 2013-09-30 13F MERCK & CO INC COM 58933Y105 668,097 -22,362 -3.24 31,808 -0.85 0.5954
2013-08-13 2013-06-30 13F MERCK COM 58933Y105 690,459 690,459 32,080 0.7017
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.