Mercantile Bank Corporation
US ˙ NasdaqGS ˙ US5873761044

SecurityMBWM / Mercantile Bank Corporation
InstitutionAdvisor Group Holdings, Inc.
Latest Disclosed Ownership25,352 shares
Latest Disclosed Value $ 1,280,393
Advisor Group Holdings, Inc. reports 2.12% increase in ownership of MBWM / Mercantile Bank Corporation

On May 15, 2026 - Advisor Group Holdings, Inc. filed a 13F-HR form disclosing ownership of 25,352 shares of Mercantile Bank Corporation (US:MBWM) valued at $1,280,276 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 24,825 shares of Mercantile Bank Corporation. This represents a change in shares of 2.12% during the quarter. The current value of the position is $1,337,064 USD.

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 MERCANTILE BK COM 587376104 25,352 527 2.12 1,280 7.20 0.0011
2026-02-17 2025-12-31 13F MERCANTILE BK COM 587376104 24,825 -3,373 -11.96 1,194 -6.28 0.0017
2025-11-14 2025-09-30 13F MERCANTILE BK COM 587376104 28,198 26,188 1,302.89 1,275 1,269.89 0.0018
2025-09-04 2025-06-30 13F/A-1 ERCANTILE BK COM 587376104 2,010 28 1.41 93 8.14 0.0002
2025-08-13 2025-06-30 13F ERCANTILE BK COM 587376104 1,984 2 89 0.0001
2025-05-12 2025-03-31 13F MERCANTILE BK COM 587376104 1,982 -272 -12.07 86 -14.00 0.0002
2025-06-06 2024-12-31 13F/A-1 MERCANTILE BK COM 587376104 2,254 282 14.30 100 16.28 0.0002
2025-02-07 2024-12-31 13F MERCANTILE BK COM 587376104 2,056 84 90 0.0002
2024-11-13 2024-09-30 13F MERCANTILE BK COM 587376104 1,972 161 8.89 86 17.81 0.0002
2024-08-13 2024-06-30 13F MERCANTILE BK COM 587376104 1,811 -2,457 -57.57 74 -55.49 0.0002
2024-05-10 2024-03-31 13F MERCANTILE BK COM 587376104 4,268 -257 -5.68 164 -9.89 0.0004
2024-02-12 2023-12-31 13F MERCANTILE BK COM 587376104 4,525 -1,210 -21.10 183 2.82 0.0003
2023-11-13 2023-09-30 13F MERCANTILE BK COM 587376104 5,735 546 10.52 177 23.78 0.0003
2023-08-21 2023-06-30 13F/A-1 MERCANTILE BK COM 587376104 5,189 -517 -9.06 143 -17.82 0.0003
2023-08-10 2023-06-30 13F MERCANTILE BK COM 587376104 5,189 -517 143 0.0000
2023-05-12 2023-03-31 13F MERCANTILE BK COM 587376104 5,706 89 1.58 175 -7.45 0.0003
2023-02-10 2022-12-31 13F MERCANTILE BK COM 587376104 5,617 -918 -14.05 188 -3.09 0.0004
2022-11-14 2022-09-30 13F MERCANTILE BK COM 587376104 6,535 35 0.54 194 -6.73 0.0004
2022-08-10 2022-06-30 13F MERCANTILE BK COM 587376104 6,500 1,402 27.50 208 14.92 0.0005
2022-05-04 2022-03-31 13F MERCANTILE BK COM 587376104 5,098 -48 -0.93 181 0.56 0.0004
2022-02-03 2021-12-31 13F MERCANTILE BK COM 587376104 5,146 104 2.06 180 11.80 0.0003
2021-11-05 2021-09-30 13F MERCANTILE BK COM 587376104 5,042 -18 -0.36 161 5.92 0.0003
2021-08-02 2021-06-30 13F MERCANTILE BK COM 587376104 5,060 -565 -10.04 152 -16.48 0.0003
2021-05-13 2021-03-31 13F MERCANTILE BANK COM 587376104 5,625 -57 -1.00 182 18.18 0.0004
2021-02-10 2020-12-31 13F MERCANTILE BANK COM 587376104 5,682 -22,391 -79.76 154 -69.57 0.0004
2020-11-12 2020-09-30 13F MERCANTILE BANK COM 587376104 28,073 22,551 408.38 506 308.06 0.0015
2020-08-14 2020-06-30 13F MERCANTILE BANK COM 587376104 5,522 373 7.24 124 14.81 0.0004
2020-05-18 2020-03-31 13F MERCANTILE BANK COM 587376104 5,149 5,149 108 0.0004
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.