Mercer International

MERC • NASDAQ

Mercer International is a paper, lumber & forest products company in the basic materials sector on NASDAQ, led by David M. Gandossi, with a market cap of $131.3M. As of Q3 2025, 72% of shares are held by 86 institutional investors, with IAT REINSURANCE CO LTD. as the largest holder at 24.93%.

CEO and PresidentDavid M. Gandossi

Market Cap$131.3M

Paper, Lumber & Forest Products

Basic Materials

Employees3.5K

Websitemercerint.com

Country

United States of America

Overview

Overview of institutional ownership in MERC as of Q3 2025 with a market cap of $192.9M

All Institutions

Institutions: 86
Value Held: $139.1M
Shares Held: 48.2M
Avg Position: $1.6M
Median Position: $201.2K

Hedge Funds

Hedge Funds: 20
Value Held: $32.7M
Shares Held: 11.4M
Avg Position: $1.6M
Median Position: $220.7K

Ownership Breakdown

Institutional (non-HF)

55.18%

$106.4M

Hedge Funds

16.95%

$32.7M

Retail & Other

27.88%

$53.8M

Based on market cap of $192.9M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MERC as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
I IAT REINSURANCE CO LTD. Institution	-	$48.1M 12.37% of portfolio	24.93% 16.7M shares	Q4 2014 Held for 10y 11m	$388.9M
REDWOOD CAPITAL MANAGEMENT, LLC Hedge Fund•Distressed	Sean Ira Sauler CEO	$13.4M 1.49% of portfolio	6.94% 4.6M shares	≤ Q2 2013 Held for 12y 5m+	$899.4M
TORONTO DOMINION BANK Institution	Leo Salom CEO	$9.5M 0.02% of portfolio	4.93% 3.3M shares	Q4 2024 Held for 11 months	$51.2B
A Atlas FRM LLC Institution	-	$9.1M 1.30% of portfolio	4.70% 3.2M shares	Q3 2022 Held for 3y 2m	$696.0M
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$8.7M 0.00% of portfolio	4.53% 3.0M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	David Barnett Grossman Managing Partner	$6.8M 0.68% of portfolio	3.54% 2.4M shares	Q3 2023 Held for 2y 2m	$1.0B
S Solas Capital Management, LLC Hedge Fund•Long/Short	Frederick Tucker Golden CIO	$4.8M 2.90% of portfolio	2.46% 1.7M shares	Q4 2024 Held for 11 months	$163.8M
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$3.4M 0.00% of portfolio	1.78% 1.2M shares	≤ Q2 2013 Held for 12y 5m+	$488.50B
A AMERICAN CENTURY COMPANIES INC Institution	-	$3.3M 0.00% of portfolio	1.70% 1.1M shares	Q1 2020 Held for 5y 8m	$195.93B
D D. E. Shaw & Co., Inc. Institution	-	$3.0M 0.00% of portfolio	1.55% 1.0M shares	Q3 2024 Held for 1y 2m	$115.81B

Net Capital Flow

Institutional buying and selling activity for MERC in Q3 2025

Traded: −$13.2M
Buyers: 38
Sellers: 57
Total Bought: +$11.3M
Total Sold: −$24.5M
Avg Position: $1.2M

Biggest Buyers

Institution	Net Bought	Current Position
REDWOOD CAPITAL MANAGEMENT, LLC Hedge Fund•Distressed	+$3.7M +1.3M shares	$13.4M 4.6M shares
OPPENHEIMER & CO INC RIA/Wealth	+$2.0M +711.0K shares	$2.2M 754.2K shares
D D. E. Shaw & Co., Inc. Institution	+$1.4M +478.5K shares	$3.0M 1.0M shares
I IAT REINSURANCE CO LTD. Institution	+$633.6K +220.0K shares	$48.1M 16.7M shares
CITIGROUP INC Institution	+$618.8K +214.9K shares	$623.4K 216.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$397.2K +137.9K shares	$2.9M 995.0K shares
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	+$293.7K +102.0K shares	$1.0M 351.1K shares
A Assenagon Asset Management S.A. Institution	+$291.6K +101.3K shares	$291.6K 101.3K shares
MORGAN STANLEY RIA/Wealth	+$280.8K +97.5K shares	$1.2M 412.6K shares
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	+$278.2K +96.6K shares	$1.5M 536.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
B Boundary Creek Advisors LP Hedge Fund•Multi-Strategy	−$8.2M −2.3M shares	Sold Off 0 shares
Gates Capital Management, Inc. Hedge Fund•Event Driven	−$3.5M −1.0M shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$2.8M −982.1K shares	$1.0M 361.5K shares
GABELLI FUNDS LLC Long Only Manager	−$1.8M −515.4K shares	Sold Off 0 shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$880.9K −251.7K shares	Sold Off 0 shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$767.9K −266.6K shares	$213.6K 74.2K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$611.6K −212.4K shares	$8.7M 3.0M shares
C Cubist Systematic Strategies, LLC Institution	−$589.6K −204.7K shares	$291.5K 101.2K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$479.2K −136.9K shares	Sold Off 0 shares
Trexquant Investment LP Hedge Fund•Quant	−$421.0K −120.3K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MERC in Q3 2025

New Positions: 3
New Value: $273.8K
Exited Positions: 25
Exited Value: $16.5M

New Positions

Institution	Position Value
WEALTHEDGE INVESTMENT ADVISORS, LLC RIA/Wealth	$206.2K 71.6K shares
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	$38.9K 13.5K shares
Joel Isaacson & Co., LLC RIA/Wealth	$28.8K 10.0K shares

Exited Positions

Institution	Previous Position
B Boundary Creek Advisors LP Hedge Fund•Multi-Strategy	$8.2M 2.3M shares
Gates Capital Management, Inc. Hedge Fund•Event Driven	$3.5M 1.0M shares
GABELLI FUNDS LLC Long Only Manager	$1.8M 515.4K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$880.9K 251.7K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$479.2K 136.9K shares
Trexquant Investment LP Hedge Fund•Quant	$421.0K 120.3K shares
E EntryPoint Capital, LLC Hedge Fund•Long/Short	$266.1K 76.0K shares
S State of Wyoming Institution	$187.8K 53.7K shares
SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC Hedge Fund•Distressed	$182.9K 52.3K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$109.5K 31.3K shares

Options Activity

Institutions with the largest Call and Put options positions in MERC as of Q3 2025

Call Positions: 7
Call Value: $415.3K
Put Positions: 4
Put Value: $955.6K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$147.5K 512.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$113.8K 395.0 contracts
W WOLVERINE TRADING, LLC Institution	$87.0K 301.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$50.1K 174.0 contracts
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$17.0K 59.0 contracts
B Boundary Creek Advisors LP Hedge Fund•Multi-Strategy	- - contracts
Walleye Trading LLC RIA/Wealth	- - contracts

Put Positions

Institution	Position Value
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$782.5K 2.7K contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$67.7K 235.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$58.8K 204.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$46.7K 162.0 contracts

Most Committed Institutions

Institutions with MERC as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
I IAT REINSURANCE CO LTD. Institution	-	12.37% $48.1M	24.93% 16.7M shares	Q4 2014 Held for 10y 11m	$388.9M
S Solas Capital Management, LLC Hedge Fund•Long/Short	Frederick Tucker Golden CIO	2.90% $4.8M	2.46% 1.7M shares	Q4 2024 Held for 11 months	$163.8M
REDWOOD CAPITAL MANAGEMENT, LLC Hedge Fund•Distressed	Sean Ira Sauler CEO	1.49% $13.4M	6.94% 4.6M shares	≤ Q2 2013 Held for 12y 5m+	$899.4M
A Atlas FRM LLC Institution	-	1.30% $9.1M	4.70% 3.2M shares	Q3 2022 Held for 3y 2m	$696.0M
R READYSTATE ASSET MANAGEMENT LP Hedge Fund•Multi-Strategy	David Barnett Grossman Managing Partner	0.68% $6.8M	3.54% 2.4M shares	Q3 2023 Held for 2y 2m	$1.0B
AEGIS FINANCIAL CORP Long Only Manager	Scott Lon Barbee President	0.34% $889.9K	0.46% 309.0K shares	Q4 2022 Held for 2y 11m	$261.3M
M Merrion Investment Management Co, LLC RIA/Wealth	Nancy M Westbrock CEO	0.25% $432.0K	0.22% 150.0K shares	Q4 2020 Held for 4y 11m	$174.3M
W WHITEBOX ADVISORS LLC Hedge Fund•Multi-Strategy	Robert Jacob Vogel CIO	0.12% $1.5M	0.80% 536.0K shares	Q4 2021 Held for 3y 11m	$1.3B
WEALTHEDGE INVESTMENT ADVISORS, LLC RIA/Wealth	Enri Dama CIO	0.08% $206.2K	0.11% 71.6K shares	Q3 2025 Held for 2 months	$262.4M
O OXFORD ASSET MANAGEMENT Institution	Henry Stuart Gibson President	0.07% $204.3K	0.11% 70.9K shares	Q2 2024 Held for 1y 5m	$272.4M