Merck & Co., Inc.
MX ˙ BMV ˙ US58933Y1055
SecurityMX:MRK / Merck & Co., Inc.
InstitutionCullen Capital Management, LLC
Latest Disclosed Ownership2,073,354 shares
Latest Disclosed Value $ 249,403,764
Cullen Capital Management, LLC reports 9.50% decrease in ownership of MRK / Merck & Co., Inc.

On May 15, 2026 - Cullen Capital Management, LLC filed a 13F-HR form disclosing ownership of 2,073,354 shares of Merck & Co., Inc. (MX:MRK) valued at $249,403,764 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 13, 2026 disclosing 2,291,041 shares of Merck & Co., Inc.. This represents a change in shares of -9.50% 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)
2026-05-15 2026-03-31 13F Merck COM 58933Y105 2,073,354 -217,687 -9.50 249,404 3.42 2.5573
2026-02-13 2025-12-31 13F Merck COM 58933Y105 2,291,041 -52,411 -2.24 241,155 22.61 2.6338
2025-11-05 2025-09-30 13F Merck COM 58933Y105 2,343,452 66,976 2.94 196,686 9.15 2.1517
2025-09-30 2025-06-30 13F Merck COM 58933Y105 2,276,476 39,800 1.78 180,206 -10.24 2.0521
2025-05-15 2025-03-31 13F Merck COM 58933Y105 2,236,676 270,966 13.78 200,764 2.67 2.3191
2025-02-13 2024-12-31 13F Merck COM 58933Y105 1,965,710 -85,946 -4.19 195,549 -16.07 2.2776
2024-11-12 2024-09-30 13F Merck COM 58933Y105 2,051,656 457,890 28.73 232,986 18.08 2.5362
2024-08-13 2024-06-30 13F Merck COM 58933Y105 1,593,766 -69,897 -4.20 197,308 -10.12 2.2724
2024-05-15 2024-03-31 13F Merck COM 58933Y105 1,663,663 -241,386 -12.67 219,520 5.70 2.4438
2024-02-14 2023-12-31 13F Merck COM 58933Y105 1,905,049 -546,678 -22.30 207,688 -17.72 3.0804
2023-11-14 2023-09-30 13F Merck COM 58933Y105 2,451,727 -88,067 -3.47 252,405 -13.87 2.9466
2023-08-15 2023-06-30 13F Merck COM 58933Y105 2,539,794 -113,450 -4.28 293,067 3.82 2.6164
2023-05-15 2023-03-31 13F Merck COM 58933Y105 2,653,244 556,724 26.55 282,279 21.32 2.5830
2023-02-16 2022-12-31 13F Merck COM 58933Y105 2,096,520 -776,001 -27.01 232,665 -5.95 2.9859
2022-11-10 2022-09-30 13F Merck COM 58933Y105 2,872,521 305,921 11.92 247,381 5.72 2.6505
2022-08-11 2022-06-30 13F Merck COM 58933Y105 2,566,600 -18,993 -0.73 233,997 10.30 2.3500
2022-05-03 2022-03-31 13F Merck COM 58933Y105 2,585,593 254,108 10.90 212,148 18.73 1.9530
2022-02-10 2021-12-31 13F Merck COM 58933Y105 2,331,485 -22,815 -0.97 178,685 1.05 1.6749
2021-11-05 2021-09-30 13F Merck COM 58933Y105 2,354,300 32,735 1.41 176,831 -2.06 1.7373
2021-08-04 2021-06-30 13F Merck COM 58933Y105 2,321,565 273,285 13.34 180,548 14.34 1.7454
2021-05-10 2021-03-31 13F Merck COM 58933Y105 2,048,280 1,582,745 339.98 157,902 314.65 1.7061
2021-01-26 2020-12-31 13F Merck COM 58933Y105 465,535 -89,644 -16.15 38,081 -17.31 2.1148
2020-11-02 2020-09-30 13F Merck COM 58933Y105 555,179 -1,690 -0.30 46,052 6.94 2.6674
2020-07-31 2020-06-30 13F Merck COM 58933Y105 556,869 -88,251 -13.68 43,063 -13.24 2.4221
2020-05-13 2020-03-31 13F/A-1 Merck COM 58933Y105 645,120 -64,045 -9.03 49,636 -23.04 2.8624
2020-05-05 2020-03-31 13F Merck COM 58933Y105 1,797,420 1,088,255 138,293 3,365,375.3727
2020-01-31 2019-12-31 13F Merck COM 58933Y105 709,165 -172,545 -19.57 64,499 -13.10 2.5290
2019-11-15 2019-09-30 13F Merck COM 58933Y105 881,710 -68,385 -7.20 74,222 -6.83 2.9790
2019-07-30 2019-06-30 13F Merck COM 58933Y105 950,095 1,095 0.12 79,665 0.93 3.1100
2019-05-15 2019-03-31 13F Merck COM 58933Y105 949,000 660 0.07 78,928 8.92 3.1148
2019-02-14 2018-12-31 13F Merck COM 58933Y105 948,340 -96,930 -9.27 72,463 -2.28 3.1246
2018-11-15 2018-09-30 13F Merck COM 58933Y105 1,045,270 -17,090 -1.61 74,151 14.99 2.7325
2018-08-14 2018-06-30 13F Merck COM 58933Y105 1,062,360 -119,735 -10.13 64,485 0.15 2.4398
2018-05-14 2018-03-31 13F Merck COM 58933Y105 1,182,095 11,830 1.01 64,389 -2.22 2.2793
2018-02-15 2017-12-31 13F Merck COM 58933Y105 1,170,265 20,900 1.82 65,851 -10.52 2.2596
2017-11-14 2017-09-30 13F Merck COM 58933Y105 1,149,365 18,240 1.61 73,594 1.52 2.5637
2017-08-16 2017-06-30 13F Merck COM 58933Y105 1,131,125 16,580 1.49 72,494 2.37 2.5485
2017-05-11 2017-03-31 13F Merck COM 58933Y105 1,114,545 -218,010 -16.36 70,818 -9.73 2.4888
2017-02-13 2016-12-31 13F Merck COM 58933Y105 1,332,555 -155,260 -10.44 78,448 -15.52 2.7050
2016-11-15 2016-09-30 13F Merck COM 58933Y105 1,487,815 32,745 2.25 92,855 10.77 3.1417
2016-08-15 2016-06-30 13F Merck COM 58933Y105 1,455,070 385 0.03 83,827 8.91 2.9546
2016-05-12 2016-03-31 13F Merck COM 58933Y105 1,454,685 -32,580 -2.19 76,967 -2.02 2.7234
2016-01-29 2015-12-31 13F Merck COM 58933Y105 1,487,265 -24,670 -1.63 78,557 5.20 2.6515
2015-11-12 2015-09-30 13F Merck COM 58933Y105 1,511,935 -343,885 -18.53 74,674 -29.32 2.6183
2015-08-13 2015-06-30 13F Merck COM 58933Y105 1,855,820 -138,000 -6.92 105,652 -7.81 3.3737
2015-05-14 2015-03-31 13F Merck COM 58933Y105 1,993,820 1,500 0.08 114,605 1.29 3.2130
2015-02-12 2014-12-31 13F Merck COM 58933Y105 1,992,320 -142,950 -6.69 113,144 -10.61 3.0745
2014-11-13 2014-09-30 13F Merck COM 58933Y105 2,135,270 -60 -0.00 126,579 2.47 3.4716
2014-08-11 2014-06-30 13F Merck COM 58933Y105 2,135,330 -108,050 -4.82 123,529 -3.01 3.2072
2014-05-14 2014-03-31 13F Merck COM 58933Y105 2,243,380 1,080 0.05 127,357 13.48 3.4454
2014-02-13 2013-12-31 13F Merck COM 58933Y105 2,242,300 9,110 0.41 112,227 5.56 2.9498
2013-11-14 2013-09-30 13F Merck COM 58933Y105 2,233,190 19,130 0.86 106,320 3.38 3.0130
2013-08-14 2013-06-30 13F Merck COM 58933Y105 2,214,060 2,214,060 102,843 3.1211
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.