Merchants Bancorp 8.25 Non-Cumulative Perpetual Preferred Stock, Series D

CUSIP: 58844R884 Class: Non 13F Security

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

Archer Investment Corp
Value ($000) $102 Shares 4,000

Exited Positions (1)

MALTESE CAPITAL MANAGEMENT LLC
Value ($000) $1,292 Shares 52,000