Steel Dynamics, Inc.
MX ˙ BMV ˙ US8581191009
SecurityMX:STLD / Steel Dynamics, Inc.
InstitutionDenali Advisors Llc
Latest Disclosed Ownership4,717 shares
Latest Disclosed Value $ 849,060
Denali Advisors Llc reports 5.98% decrease in ownership of STLD / Steel Dynamics, Inc.

On May 8, 2026 - Denali Advisors Llc filed a 13F-HR form disclosing ownership of 4,717 shares of Steel Dynamics, Inc. (MX:STLD) valued at $849,060 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 3, 2026 disclosing 5,017 shares of Steel Dynamics, Inc.. This represents a change in shares of -5.98% 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)
2026-05-08 2026-03-31 13F STEEL DYNAMICS COM 858119100 4,717 -300 -5.98 849 -0.12 0.0944
2026-02-03 2025-12-31 13F STEEL DYNAMICS COM 858119100 5,017 1,806 56.24 850 90.16 0.0944
2025-11-07 2025-09-30 13F STEEL DYNAMICS COM 858119100 3,211 49 1.55 448 10.64 0.0506
2025-07-30 2025-06-30 13F STEEL DYNAMICS COM 858119100 3,162 -7,508 -70.37 405 -69.72 0.0422
2025-05-05 2025-03-31 13F STEEL DYNAMICS COM 858119100 10,670 -3,251 -23.35 1,335 -15.94 0.1519
2025-02-04 2024-12-31 13F STEEL DYNAMICS COM 858119100 13,921 -23,732 -63.03 1,588 -66.57 0.1664
2024-11-13 2024-09-30 13F STEEL DYNAMICS COM 858119100 37,653 34,240 1,003.22 4,747 976.42 0.5101
2024-08-09 2024-06-30 13F STEEL DYNAMICS COM 858119100 3,413 2,900 565.30 442 480.26 0.1209
2024-04-19 2024-03-31 13F Steel Dynamics COM 858119100 513 107 26.35 76 61.70 0.0224
2024-01-19 2023-12-31 13F Steel Dynamics COM 858119100 406 202 99.02 48 123.81 0.0146
2023-10-19 2023-09-30 13F Steel Dynamics COM 858119100 204 -55 -21.24 22 -25.00 0.0077
2023-07-18 2023-06-30 13F Steel Dynamics COM 858119100 259 -3,211 -92.54 28 -92.86 0.0099
2023-04-21 2023-03-31 13F Steel Dynamics COM 858119100 3,470 -3,080 -47.02 392 -38.65 0.1632
2023-02-09 2022-12-31 13F Steel Dynamics COM 858119100 6,550 200 3.15 640 41.69 0.2683
2022-10-25 2022-09-30 13F Steel Dynamics COM 858119100 6,350 1,400 28.28 451 37.92 0.2133
2022-07-20 2022-06-30 13F/A-1 Steel Dynamics COM 858119100 4,950 4,286 645.48 327 494.55 0.1425
2022-07-18 2022-06-30 13F Steel Dynamics COM 858119100 4,950 4,286 327 0.1430
2022-04-19 2022-03-31 13F Steel Dynamics COM 858119100 664 229 52.64 55 103.70 0.0212
2022-01-21 2021-12-31 13F Steel Dynamics COM 858119100 435 35 8.75 27 17.39 0.0101
2021-10-12 2021-09-30 13F Steel Dynamics COM 858119100 400 -400 -50.00 23 -52.08 0.0096
2021-08-20 2021-06-30 13F Steel Dynamics COM 858119100 800 -415 -34.16 48 -22.58 0.0184
2021-04-26 2021-03-31 13F Steel Dynamics COM 858119100 1,215 -48,808 -97.57 62 -96.64 0.0191
2021-01-20 2020-12-31 13F Steel Dynamics COM 858119100 50,023 123 0.25 1,844 29.04 0.3152
2020-10-16 2020-09-30 13F Steel Dynamics COM 858119100 49,900 -16,100 -24.39 1,429 -17.02 0.2836
2020-07-23 2020-06-30 13F Steel Dynamics COM 858119100 66,000 -42,200 -39.00 1,722 -29.40 0.3336
2020-04-23 2020-03-31 13F Steel Dynamics COM 858119100 108,200 50,700 88.17 2,439 24.63 0.5300
2020-01-30 2019-12-31 13F Steel Dynamics COM 858119100 57,500 40,200 232.37 1,957 279.26 0.2774
2019-10-09 2019-09-30 13F Steel Dynamics COM 858119100 17,300 -62,700 -78.38 516 -78.64 0.0721
2019-07-08 2019-06-30 13F Steel Dynamics COM 858119100 80,000 45,600 132.56 2,416 99.18 0.3612
2019-04-12 2019-03-31 13F/A-1 Steel Dynamics COM 858119100 34,400 34,400 1,213 0.1942
2019-04-09 2019-03-31 13F Steel Dynamics COM 858119100 34,400 1,213 0.1818
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.