Mercury Systems

MRCY • NASDAQ

Mercury Systems is a aerospace & defense company in the industrials sector on NASDAQ, led by William L. Ballhaus, with a market cap of $6.2B. As of Q3 2025, 108% of shares are held by 316 institutional investors, with BlackRock, Inc. as the largest holder at 14.12%.

CEOWilliam L. Ballhaus

Market Cap$6.2B

Aerospace & Defense

Industrials

Employees2.5K

Websitemrcy.com

Country

United States of America

Overview

Overview of institutional ownership in MRCY as of Q3 2025 with a market cap of $4.6B

All Institutions

Institutions: 316
Value Held: $5.0B
Shares Held: 64.8M
Avg Position: $15.9M
Median Position: $956.5K

Hedge Funds

Hedge Funds: 37
Value Held: $552.4M
Shares Held: 7.1M
Avg Position: $14.9M
Median Position: $1.2M

Ownership Breakdown

Institutional (non-HF)

96.18%

$4.5B

Hedge Funds

11.89%

$552.4M

Retail & Other

Based on market cap of $4.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MRCY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BlackRock, Inc. Institution	Laurence D. Fink CEO	$656.1M 0.01% of portfolio	14.12% 8.5M shares	≤ Q2 2013 Held for 12y 6m+	$5.67T
JANA Partners Management, LP Hedge Fund•Activist	Barry Stuart Rosenstein Founder	$461.3M 22.33% of portfolio	9.93% 6.0M shares	Q3 2023 Held for 2y 3m	$2.1B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$443.6M 0.01% of portfolio	9.55% 5.7M shares	≤ Q2 2013 Held for 12y 6m+	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$236.5M 0.01% of portfolio	5.09% 3.1M shares	≤ Q2 2013 Held for 12y 6m+	$2.88T
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	Brent Walker Gledhill CEO	$192.6M 0.50% of portfolio	4.15% 2.5M shares	Q1 2016 Held for 9y 9m	$38.7B
Conestoga Capital Advisors, LLC Long Only Manager	Robert Michael Mitchell Partner	$176.5M 2.83% of portfolio	3.80% 2.3M shares	Q2 2018 Held for 7y 6m	$6.2B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$135.0M 0.03% of portfolio	2.91% 1.7M shares	≤ Q2 2013 Held for 12y 6m+	$466.34B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$118.6M 0.09% of portfolio	2.55% 1.5M shares	Q3 2015 Held for 10y 3m	$134.15B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$118.2M 0.02% of portfolio	2.54% 1.5M shares	≤ Q2 2013 Held for 12y 6m+	$633.08B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$117.8M 0.07% of portfolio	2.54% 1.5M shares	Q2 2025 Held for 6 months	$161.58B

Net Capital Flow

Institutional buying and selling activity for MRCY in Q3 2025

Traded: +$59.3M
Buyers: 175
Sellers: 133
Total Bought: +$637.4M
Total Sold: −$578.2M
Avg Position: $14.6M

Biggest Buyers

Institution	Net Bought	Current Position
Invesco Ltd. ETF Provider	+$73.0M +943.7K shares	$118.2M 1.5M shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$63.6M +822.1K shares	$67.0M 866.1K shares
FIRST TRUST ADVISORS LP ETF Provider	+$58.2M +751.8K shares	$118.6M 1.5M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$42.8M +552.9K shares	$117.8M 1.5M shares
Allspring Global Investments Holdings, LLC Long Only Manager	+$41.8M +514.8K shares	$56.3M 693.9K shares
JENNISON ASSOCIATES LLC Long Only Manager	+$41.5M +536.4K shares	$41.5M 536.4K shares
FMR LLC Institution	+$24.3M +314.4K shares	$114.8M 1.5M shares
B BESSEMER GROUP INC Institution	+$21.2M +274.1K shares	$21.2M 274.3K shares
BlackRock, Inc. Institution	+$17.7M +228.2K shares	$656.1M 8.5M shares
VANGUARD GROUP INC Institution	+$17.1M +221.1K shares	$443.6M 5.7M shares

Biggest Sellers

Institution	Net Sold	Current Position
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Long Only Manager	−$170.9M −2.2M shares	$192.6M 2.5M shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	−$78.2M −1.0M shares	$58.1M 750.3K shares
JANA Partners Management, LP Hedge Fund•Activist	−$61.5M −793.9K shares	$461.3M 6.0M shares
SEGALL BRYANT & HAMILL Long Only Manager	−$24.4M −315.1K shares	$53.0M 684.1K shares
S SCOPIA CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	−$24.1M −446.6K shares	Sold Off 0 shares
Conestoga Capital Advisors, LLC Long Only Manager	−$21.6M −279.0K shares	$176.5M 2.3M shares
STATE STREET CORP Institution	−$14.8M −191.2K shares	$236.5M 3.1M shares
SNYDER CAPITAL MANAGEMENT L P Long Only Manager	−$13.7M −176.5K shares	$60.5M 781.4K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$11.3M −146.4K shares	$11.7M 150.6K shares
AMERIPRISE FINANCIAL INC Institution	−$10.5M −135.4K shares	$21.7M 280.4K shares

Entry and Exit Activity

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

New Positions: 28
New Value: $50.6M
Exited Positions: 27
Exited Value: $45.6M

New Positions

Institution	Position Value
JENNISON ASSOCIATES LLC Long Only Manager	$41.5M 536.4K shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	$3.5M 44.9K shares
C Candelo Capital Management LP Hedge Fund•Long/Short	$1.2M 15.3K shares
T TWO SIGMA SECURITIES, LLC Institution	$734.8K 9.5K shares
S Swedbank AB Institution	$361.1K 4.7K shares
GRIMES & COMPANY, INC. RIA/Wealth	$326.6K 4.2K shares
PFG Financial Advisors RIA/Wealth	$316.5K 4.1K shares
A Alamea Verwaltungs GmbH Institution	$301.6K 3.9K shares
Toroso Investments, LLC ETF Provider	$253.3K 3.3K shares
Forum Financial Management, LP RIA/Wealth	$240.5K 3.1K shares

Exited Positions

Institution	Previous Position
S SCOPIA CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$24.1M 446.6K shares
Marshall Wace LLP Institution	$3.7M 67.9K shares
K KETTLE HILL CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$3.1M 57.9K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$2.5M 45.9K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	$1.9M 35.8K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$1.7M 31.3K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$1.5M 27.1K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$1.4M 26.9K shares
B Brevan Howard Capital Management LP Institution	$1.2M 22.9K shares
Engineers Gate Manager LP Hedge Fund•Quant	$769.1K 14.3K shares

Options Activity

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

Call Positions: 6
Call Value: $9.2M
Put Positions: 6
Put Value: $8.4M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$5.0M 651.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.1M 269.0 contracts
W WOLVERINE TRADING, LLC Institution	$1.1M 140.0 contracts
J JANE STREET GROUP, LLC Institution	$735.3K 95.0 contracts
Walleye Trading LLC RIA/Wealth	$263.2K 34.0 contracts
P PEAK6 LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.8M 617.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.2M 281.0 contracts
W WOLVERINE TRADING, LLC Institution	$835.6K 111.0 contracts
J JANE STREET GROUP, LLC Institution	$510.8K 66.0 contracts
Walleye Trading LLC RIA/Wealth	$85.1K 11.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$46.4K 6.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
JANA Partners Management, LP Hedge Fund•Activist	Barry Stuart Rosenstein Founder	22.33% $461.3M	9.93% 6.0M shares	Q3 2023 Held for 2y 3m	$2.1B
13D Management LLC Hedge Fund•Long/Short	Kenneth Bradley Squire CIO	10.17% $10.6M	0.23% 137.0K shares	Q1 2022 Held for 3y 9m	$104.3M
Conestoga Capital Advisors, LLC Long Only Manager	Robert Michael Mitchell Partner	2.83% $176.5M	3.80% 2.3M shares	Q2 2018 Held for 7y 6m	$6.2B
AH Lisanti Capital Growth, LLC Long Only Manager	Mary Lisanti President	1.84% $7.6M	0.16% 97.6K shares	Q1 2025 Held for 9 months	$410.1M
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	Daniel Webster Moyer President	1.38% $26.0M	0.56% 336.1K shares	Q2 2025 Held for 6 months	$1.9B
I IRONWOOD INVESTMENT MANAGEMENT LLC Long Only Manager	Donald Collins Managing Partner	1.34% $3.1M	0.07% 39.4K shares	≤ Q2 2013 Held for 12y 6m+	$227.2M
EMERALD ADVISERS INC/PA Long Only Manager	Kenneth George Mertz CEO	1.32% $41.3M	0.89% 533.1K shares	Q2 2025 Held for 6 months	$3.1B
STALEY CAPITAL ADVISERS INC RIA/Wealth	John Adolphus Staley Iv CEO	1.32% $31.8M	0.69% 411.3K shares	Q3 2022 Held for 3y 3m	$2.4B
Aristotle Capital Boston, LLC Long Only Manager	David Michael Adams CEO	1.22% $23.8M	0.51% 307.0K shares	Q4 2014 Held for 11 years	$2.0B
OBERWEIS ASSET MANAGEMENT INC/ Long Only Manager	James Walter Oberweis President	1.18% $30.8M	0.66% 398.5K shares	Q1 2025 Held for 9 months	$2.6B

Hedge Fund Spotlight

Discover hedge funds investing in MRCY

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.10B
Positions: 5,533
Last Reported: Q3 2025

Sector Allocation

Position in Mercury Systems

Market Value: $11.7M
Shares Held: 150.6K
Portfolio Weight: 0.01%
Owned Since: 2017-Q4

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%