Merck & Co., Inc.
MX ˙ BMV ˙ US58933Y1055
SecurityMX:MRK / Merck & Co., Inc.
InstitutionBeddow Capital Management Inc
Latest Disclosed Ownership5,850 shares
Latest Disclosed Value $ 616
Beddow Capital Management Inc reports 15.52% decrease in ownership of MRK / Merck & Co., Inc.

On February 11, 2026 - Beddow Capital Management Inc filed a 13F-HR form disclosing ownership of 5,850 shares of Merck & Co., Inc. (MX:MRK) valued at $616 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 12, 2025 disclosing 6,925 shares of Merck & Co., Inc..

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)
2026-02-11 2025-12-31 13F Merck COM 58933Y105 5,850 -1,075 -15.52 1 0.2326
2025-11-12 2025-09-30 13F Merck COM 58933Y105 6,925 -375 -5.14 1 0.2142
2025-08-14 2025-06-30 13F Merck COM 58933Y105 7,300 -75 -1.02 1 0.2290
2025-05-09 2025-03-31 13F Merck COM 58933Y105 7,375 -100 -1.34 1 0.2477
2025-02-11 2024-12-31 13F Merck COM 58933Y105 7,475 55 0.74 1 0.3058
2024-11-07 2024-09-30 13F Merck COM 58933Y105 7,420 0 0.00 1 0.3455
2024-08-13 2024-06-30 13F Merck COM 58933Y105 7,420 -19,519 -72.46 1 -100.00 0.4019
2024-04-24 2024-03-31 13F Merck COM 58933Y105 26,939 -13,980 -34.17 4 -25.00 1.5546
2024-01-25 2023-12-31 13F Merck COM 58933Y105 40,919 0 0.00 4 0.00 2.0775
2023-11-08 2023-09-30 13F Merck COM 58933Y105 40,919 -788 -1.89 4 0.00 2.0544
2023-08-08 2023-06-30 13F Merck COM 58933Y105 41,707 -610 -1.44 5 0.00 2.4450
2023-05-09 2023-03-31 13F Merck COM 58933Y105 42,317 -611 -1.42 5 0.00 2.2558
2023-02-02 2022-12-31 13F Merck COM 58933Y105 42,928 0 0.00 5 -99.89 2.4349
2022-11-14 2022-09-30 13F Merck COM 58933Y105 42,928 0 0.00 3,697 -5.54 2.2384
2022-08-02 2022-06-30 13F Merck COM 58933Y105 42,928 150 0.35 3,914 11.51 2.3038
2022-05-04 2022-03-31 13F Merck COM 58933Y105 42,778 2,400 5.94 3,510 13.41 1.8498
2022-02-02 2021-12-31 13F Merck COM 58933Y105 40,378 631 1.59 3,095 3.69 1.7556
2021-10-27 2021-09-30 13F Merck COM 58933Y105 39,747 -675 -1.67 2,985 -5.06 1.7862
2021-08-05 2021-06-30 13F Merck COM 58933Y105 40,422 3,635 9.88 3,144 10.86 1.8050
2021-04-08 2021-03-31 13F Merck COM 58933Y105 36,787 8,075 28.12 2,836 20.73 1.8023
2021-02-10 2020-12-31 13F Merck COM 58933Y105 28,712 1,106 4.01 2,349 2.58 1.6363
2020-11-05 2020-09-30 13F Merck COM 58933Y105 27,606 -560 -1.99 2,290 5.14 1.9676
2020-08-05 2020-06-30 13F Merck COM 58933Y105 28,166 -3,096 -9.90 2,178 -9.44 1.9048
2020-05-07 2020-03-31 13F Merck COM 58933Y105 31,262 -6,620 -17.48 2,405 -30.19 2.2135
2020-02-05 2019-12-31 13F Merck COM 58933Y105 37,882 -7,571 -16.66 3,445 -9.96 2.1425
2019-11-07 2019-09-30 13F Merck COM 58933Y105 45,453 -9,178 -16.80 3,826 -16.48 2.4109
2019-08-09 2019-06-30 13F Merck COM 58933Y105 54,631 -3,705 -6.35 4,581 -5.59 2.6362
2019-05-13 2019-03-31 13F Merck COM 58933Y105 58,336 -10,620 -15.40 4,852 -7.91 2.6629
2019-02-06 2018-12-31 13F Merck COM 58933Y105 68,956 -28,330 -29.12 5,269 -23.65 2.8811
2018-11-13 2018-09-30 13F Merck COM 58933Y105 97,286 -7,293 -6.97 6,901 8.71 3.0664
2018-08-13 2018-06-30 13F Merck COM 58933Y105 104,579 7,880 8.15 6,348 20.52 2.6442
2018-05-10 2018-03-31 13F Merck COM 58933Y105 96,699 230 0.24 5,267 -2.97 2.1214
2018-02-12 2017-12-31 13F Merck COM 58933Y105 96,469 -1,641 -1.67 5,428 -13.59 2.1998
2017-11-13 2017-09-30 13F/A-1 Merck COM 58933Y105 98,110 -9,108 -8.49 6,282 -8.59 2.5599
2017-11-13 2017-09-30 13F Merck COM 58933Y105 101,238 6,318
2017-08-14 2017-06-30 13F Merck COM 58933Y105 107,218 -1,810 -1.66 6,872 -0.81 2.7793
2017-05-08 2017-03-31 13F Merck COM 58933Y105 109,028 -515 -0.47 6,928 7.43 2.7375
2017-02-13 2016-12-31 13F Merck COM 58933Y105 109,543 -132 -0.12 6,449 -5.79 2.5646
2016-11-04 2016-09-30 13F Merck COM 58933Y105 109,675 -10,815 -8.98 6,845 -1.38 2.8095
2016-08-10 2016-06-30 13F Merck COM 58933Y105 120,490 -14,632 -10.83 6,941 -2.91 2.8853
2016-05-17 2016-03-31 13F Merck COM 58933Y105 135,122 -19,017 -12.34 7,149 -12.20 3.2036
2016-02-16 2015-12-31 13F Merck COM 58933Y105 154,139 -7,778 -4.80 8,142 1.81 3.5857
2015-11-09 2015-09-30 13F Merck COM 58933Y105 161,917 -3,965 -2.39 7,997 -15.32 3.3454
2015-08-12 2015-06-30 13F Merck COM 58933Y105 165,882 -3,592 -2.12 9,444 -3.05 3.3067
2015-05-11 2015-03-31 13F Merck COM 58933Y105 169,474 -16,392 -8.82 9,741 -7.71 3.4080
2015-02-12 2014-12-31 13F Merck COM 58933Y105 185,866 -4,602 -2.42 10,555 -6.52 3.3238
2014-11-13 2014-09-30 13F Merck COM 58933Y105 190,468 -3,300 -1.70 11,291 0.73 3.3236
2014-08-12 2014-06-30 13F Merck COM 58933Y105 193,768 -3,164 -1.61 11,209 0.26 3.0503
2014-05-13 2014-03-31 13F Merck COM 58933Y105 196,932 -8,892 -4.32 11,180 8.53 3.0738
2014-02-12 2013-12-31 13F Merck COM 58933Y105 205,824 -5,480 -2.59 10,301 2.40 2.8851
2013-11-13 2013-09-30 13F Merck COM 58933Y105 211,304 -1,007 -0.47 10,060 2.01 2.9980
2013-08-12 2013-06-30 13F Merck COM 58933Y105 212,311 212,311 9,862 3.2005
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.