Merchants Financial Group, Inc.
US ˙ OTCPK

SecurityMFGI / Merchants Financial Group, Inc.
InstitutionSiena Capital Partners GP, LLC
Latest Disclosed Ownership209,160 shares
Latest Disclosed Value $ 7,335,241
Siena Capital Partners GP, LLC ownership in MFGI / Merchants Financial Group, Inc.

On May 14, 2026 - Siena Capital Partners GP, LLC filed a 13F-HR form disclosing ownership of 209,160 shares of Merchants Financial Group, Inc. (US:MFGI) valued at $7,335,241 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 209,160 shares of Merchants Financial Group, Inc.. This represents a change in shares of 0.00% during the quarter. The current value of the position is $4,998,924 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)
2026-05-14 2026-03-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 7,335 11.17 1.9029
2026-02-11 2025-12-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 6,599 17.28 1.7717
2025-11-12 2025-09-30 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,626 7.59 1.6103
2025-07-30 2025-06-30 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,229 9.42 1.5285
2025-05-15 2025-03-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 4,779 -8.78 1.4194
2025-02-12 2024-12-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,239 0.19 1.4456
2024-11-12 2024-09-30 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,229 6.17 1.5074
2024-08-12 2024-06-30 13F Merchants Financial Group Com 588538108 209,160 0 0.00 4,926 -0.85 1.6233
2024-05-15 2024-03-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 4,968 0.00 1.6557
2024-02-14 2023-12-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 4,968 -7.76 1.5579
2023-11-13 2023-09-30 13F/A-1 Merchants Financial Group Com 588538108 209,160 0 0.00 5,386 0.00 1.9339
2023-11-13 2023-09-30 13F Merchants Financial Group Com 588538108 209,160 0 5,386 1.9313
2023-08-10 2023-06-30 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,386 -5.51 1.9133
2023-04-14 2023-03-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 5,700 -6.20 2.0586
2023-02-10 2022-12-31 13F Merchants Financial Group Com 588538108 209,160 0 0.00 6,076 9.42 2.0894
2022-11-14 2022-09-30 13F Merchants Financial Group COM 588538108 209,160 0 0.00 5,553 5.15 1.8802
2022-07-27 2022-06-30 13F Merchants Financial Group COM 588538108 209,160 139,440 200.00 5,281 -4.12 1.7894
2022-05-03 2022-03-31 13F Merchants Financial Group Com 588538108 69,720 0 0.00 5,508 6.76 1.7112
2022-01-28 2021-12-31 13F Merchants Financial Group COM 588538108 69,720 0 0.00 5,159 1.36 1.5723
2021-11-04 2021-09-30 13F Merchants Financial Group Com 588538108 69,720 0 0.00 5,090 1.05 1.6027
2021-08-11 2021-06-30 13F Merchants Financial Group Com 588538108 69,720 0 0.00 5,037 3.13 1.6293
2021-05-07 2021-03-31 13F Merchants Financial Group COM 588538108 69,720 -3,000 -4.13 4,884 4.94 1.7245
2021-02-03 2020-12-31 13F Merchants Financial Group COM 588538108 72,720 0 0.00 4,654 18.51 1.8486
2020-11-17 2020-09-30 13F Merchants Financial Group COM 588538108 72,720 -13,264 -15.43 3,927 -13.82 1.9798
2020-08-12 2020-06-30 13F Merchants Financial Group COM 588538108 85,984 -1,511 -1.73 4,557 -13.56 2.1395
2020-05-15 2020-03-31 13F Merchants Financial Group Equity 588538108 87,495 -400 -0.46 5,272 -18.23 2.2944
2020-02-05 2019-12-31 13F Merchants Financial Group Equity 588538108 87,895 0 0.00 6,447 0.48 1.8361
2019-10-31 2019-09-30 13F/A-1 Merchants Financial Group Equity 588538108 87,895 0 0.00 6,416 0.69 1.9246
2019-10-31 2019-09-30 13F Merchants Financial Group Equity 588538108 87,895 0 6,416
2019-07-25 2019-06-30 13F Merchants Financial Group Equity 588538108 87,895 0 0.00 6,372 -1.36 1.8897
2019-05-13 2019-03-31 13F Merchants Financial Group Equity 588538108 87,895 87,895 6,460 1.9659
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.