MERCK & CO INC

CUSIP: 58933y105 Class: CS

Holders for Q4 2025 Position Changes for Q4 2025

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

New Positions (2)

BERKSHIRE ASSET MANAGEMENT LLC/PA
Value ($000) $3,651 Shares 34,684
CHICKASAW CAPITAL MANAGEMENT LLC
Value ($000) $0 Shares 2,363

Increased Positions (9)

L & S Advisors Inc
Value ($000) $12,735 (+724.8%) Shares 120,990 (+557.6%)
FRANKLIN STREET ADVISORS INC /NC
Value ($000) $15,004 (+605.8%) Shares 142,541 (+462.8%)
JOHN G ULLMAN & ASSOCIATES INC
Value ($000) $10,665 (+28.7%) Shares 101,322 (+2.7%)
Legato Capital Management LLC
Value ($000) $2,737 (+89.1%) Shares 25,999 (+50.8%)
BARR E S & CO
Value ($000) $1,009 (+195.9%) Shares 9,586 (+135.9%)
Pettee Investors, Inc.
Value ($000) $934 (+27.7%) Shares 8,873 (+1.8%)
ELCO Management Co., LLC
Value ($000) $331 (+38.8%) Shares 3,140 (+10.7%)
Pinnacle Holdings, LLC
Value ($000) $1,135 (+29.0%) Shares 10,783 (+2.8%)
EVERETT HARRIS & CO /CA/
Value ($000) $23,703 (+27.7%) Shares 225,183 (+1.9%)

Decreased Positions (20)

MCINTYRE FREEDMAN & FLYNN INVESTMENT ADVISERS INC
Value ($000) $3,143 (+17.2%) Shares 29,857 (-6.5%)
CCM INVESTMENT ADVISERS LLC
Value ($000) $16,077 (+22.2%) Shares 152,740 (-2.6%)
BAHL & GAYNOR INC
Value ($000) $80,507 (-6.9%) Shares 764,839 (-25.7%)
Sippican Capital Advisors
Value ($000) $2,366 (+21.9%) Shares 22,476 (-2.8%)
AUXIER ASSET MANAGEMENT LLC
Value ($000) $12,352 (+24.1%) Shares 117,346 (-1.0%)
SVB WEALTH LLC
Value ($000) $5,313 (+0.3%) Shares 50,478 (-20.0%)
DF DENT & CO INC
Value ($000) $3,457 (-49.8%) Shares 32,842 (-60.0%)
BIRMINGHAM CAPITAL MANAGEMENT CO INC/AL
Value ($000) $2,419 (+22.7%) Shares 22,978 (-2.1%)
Mengis Capital Management, Inc.
Value ($000) $5,378 (+23.5%) Shares 51,096 (-1.5%)
Azimuth Capital Investment Management LLC
Value ($000) $14,296 (+23.9%) Shares 135,818 (-1.2%)
Ramsay, Stattman, Vela & Price, Inc.
Value ($000) $1,848 (+21.1%) Shares 17,560 (-3.4%)
EADS & HEALD WEALTH MANAGEMENT
Value ($000) $470 (+116304.7%) Shares 4,468 (-7.2%)
CORTLAND ASSOCIATES INC/MO
Value ($000) $482 (+0.6%) Shares 4,580 (-19.7%)
Corundum Group, Inc.
Value ($000) $1,006 (+23.0%) Shares 9,557 (-1.9%)
Lipe & Dalton
Value ($000) $1 (+21.3%) Shares 10,023 (-3.3%)
GLOBALT Investments LLC / GA
Value ($000) $6,254 (+23.3%) Shares 59,417 (-1.7%)
NORTH STAR ASSET MANAGEMENT INC
Value ($000) $1,149 (+15.6%) Shares 10,912 (-7.9%)
AMI ASSET MANAGEMENT CORP
Value ($000) $799 (+20.0%) Shares 7,589 (-4.3%)
Tandem Investment Advisors, Inc.
Value ($000) $266 (+102366.5%) Shares 2,531 (-18.4%)
DUMONT & BLAKE INVESTMENT ADVISORS LLC
Value ($000) $0 (-99.9%) Shares 3,416 (-3.3%)

Exited Positions (5)

NICHOLS & PRATT ADVISERS LLP /MA
Value ($000) $38,174 Shares 454,832
New England Research & Management, Inc.
Value ($000) $1,813 Shares 21,596
Corundum Trust Company, INC
Value ($000) $165 Shares 1,963
ZEVIN ASSET MANAGEMENT LLC
Value ($000) $0 Shares 5,506
SONATA CAPITAL GROUP INC
Value ($000) $0 Shares 2,966