Steel Dynamics

STLD • NASDAQ

Steel Dynamics is a steel company in the basic materials sector on NASDAQ, led by Barry T. Schneider, with a market cap of $25.1B. As of Q3 2025, 75% of shares are held by 780 institutional investors, with VANGUARD GROUP INC as the largest holder at 11.66%.

Chief Executive OfficerBarry T. Schneider

Market Cap$25.1B

Steel

Basic Materials

Employees12.6K

Websitesteeldynamics.com

Country

United States of America

Overview

Overview of institutional ownership in STLD as of Q3 2025 with a market cap of $20.5B

All Institutions

Institutions: 780
Value Held: $15.3B
Shares Held: 110.1M
Avg Position: $19.7M
Median Position: $765.6K

Hedge Funds

Hedge Funds: 46
Value Held: $766.6M
Shares Held: 5.5M
Avg Position: $16.7M
Median Position: $3.6M

Ownership Breakdown

Institutional (non-HF)

70.95%

$14.6B

Hedge Funds

3.74%

$766.6M

Retail & Other

25.31%

$5.2B

Based on market cap of $20.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in STLD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.4B 0.04% of portfolio	11.66% 17.2M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$1.7B 0.03% of portfolio	8.26% 12.2M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.0B 0.04% of portfolio	4.97% 7.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$512.2M 0.03% of portfolio	2.51% 3.7M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
Capital Research Global Investors RIA/Wealth	Maria Alejandra Herrera CIO	$503.8M 0.09% of portfolio	2.45% 3.6M shares	Q2 2022 Held for 3y 5m	$532.36B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$483.2M 0.03% of portfolio	2.35% 3.5M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$463.5M 0.05% of portfolio	2.26% 3.3M shares	≤ Q2 2013 Held for 12y 5m+	$912.31B
NORDEA INVESTMENT MANAGEMENT AB Institution	Paul Manning CEO	$322.5M 0.28% of portfolio	1.59% 2.3M shares	Q2 2016 Held for 9y 5m	$114.17B
Holocene Advisors, LP Hedge Fund•Long/Short	John Brandon Haley CIO	$321.5M 0.74% of portfolio	1.57% 2.3M shares	Q2 2023 Held for 2y 5m	$43.5B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$310.8M 0.07% of portfolio	1.51% 2.2M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B

Net Capital Flow

Institutional buying and selling activity for STLD in Q3 2025

Traded: −$466.5M
Buyers: 351
Sellers: 388
Total Bought: +$984.3M
Total Sold: −$1.5B
Avg Position: $17.7M

Biggest Buyers

Institution	Net Bought	Current Position
Robeco Investment Management, Inc. Long Only Manager	+$101.3M +723.6K shares	$101.3M 723.6K shares
N Nuveen, LLC Institution	+$53.6M +384.1K shares	$132.1M 947.4K shares
MORGAN STANLEY RIA/Wealth	+$47.6M +341.1K shares	$483.2M 3.5M shares
F FIL Ltd Institution	+$46.5M +333.3K shares	$197.2M 1.4M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$45.8M +328.8K shares	$45.8M 328.8K shares
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC Fund of Funds	+$39.5M +283.3K shares	$68.8M 493.3K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	+$37.7M +270.5K shares	$38.3M 274.9K shares
R Robeco Institutional Asset Management B.V. Institution	+$36.3M +260.1K shares	$269.9M 1.9M shares
NORDEA INVESTMENT MANAGEMENT AB Institution	+$34.7M +252.1K shares	$322.5M 2.3M shares
N Neuberger Berman Group LLC Institution	+$32.6M +233.6K shares	$45.0M 322.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	−$500.8M −3.6M shares	$463.5M 3.3M shares
Pentwater Capital Management LP Hedge Fund•Event Driven	−$78.1M −610.0K shares	Sold Off 0 shares
JPMORGAN CHASE & CO Institution	−$77.9M −558.8K shares	$147.7M 1.1M shares
GOLDMAN SACHS GROUP INC Institution	−$57.9M −415.3K shares	$138.1M 990.7K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$52.5M −376.6K shares	$225.7M 1.6M shares
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	−$32.0M −250.0K shares	Sold Off 0 shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$31.4M −225.3K shares	$310.8M 2.2M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$31.1M −224.4K shares	$55.8M 403.2K shares
AMERIPRISE FINANCIAL INC Institution	−$29.2M −224.4K shares	$68.0M 522.9K shares
Holocene Advisors, LP Hedge Fund•Long/Short	−$27.9M −200.4K shares	$321.5M 2.3M shares

Entry and Exit Activity

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

New Positions: 33
New Value: $34.5M
Exited Positions: 86
Exited Value: $281.1M

New Positions

Institution	Position Value
Merewether Investment Management, LP Hedge Fund•Sector	$26.5M 189.8K shares
E Eisler Capital Management Ltd. Institution	$2.2M 15.7K shares
G Generali Asset Management SPA SGR Institution	$1.3M 9.4K shares
Morningstar Investment Management LLC Long Only Manager	$969.7K 7.0K shares
V VCI Wealth Management LLC Institution	$956.9K 6.9K shares
T TECTONIC ADVISORS LLC RIA/Wealth	$586.2K 4.2K shares
Voleon Capital Management LP Hedge Fund•Quant	$514.9K 3.7K shares
CHESAPEAKE CAPITAL CORP /IL/ Long Only Manager	$388.5K 2.8K shares
T TEMA ETFS LLC Institution	$286.5K 2.1K shares
Allied Investment Advisors, LLC RIA/Wealth	$254.7K 1.8K shares

Exited Positions

Institution	Previous Position
Pentwater Capital Management LP Hedge Fund•Event Driven	$78.1M 610.0K shares
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$32.0M 250.0K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$16.6M 130.0K shares
Lombard Odier Asset Management Ltd Private Equity	$16.1M 126.1K shares
Distillate Capital Partners LLC ETF Provider	$16.0M 124.7K shares
Drummond Knight Asset Management Pty Ltd Hedge Fund•Distressed	$14.7M 115.0K shares
H HRT FINANCIAL LLC Institution	$13.4M 104.5K shares
Bornite Capital Management LP Hedge Fund•Long/Short	$12.8M 100.0K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$6.5M 50.6K shares
B Brevan Howard Capital Management LP Institution	$6.1M 47.6K shares

Options Activity

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

Call Positions: 17
Call Value: $200.4M
Put Positions: 22
Put Value: $140.1M

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$51.9M 3.7K contracts
M MOORE CAPITAL MANAGEMENT, LP Hedge Fund•Global Macro	$50.6M 3.6K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$33.6M 2.4K contracts
J JANE STREET GROUP, LLC Institution	$23.8M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$14.9M 1.1K contracts
Walleye Trading LLC RIA/Wealth	$8.4M 604.0 contracts
P PEAK6 LLC Institution	$6.1M 435.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$3.9M 278.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.6M 185.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.6M 115.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$45.4M 3.3K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$14.5M 1.0K contracts
Pentwater Capital Management LP Hedge Fund•Event Driven	$13.9M 1.0K contracts
Walleye Trading LLC RIA/Wealth	$13.3M 953.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$11.0M 787.0 contracts
J JANE STREET GROUP, LLC Institution	$8.7M 623.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$8.1M 581.0 contracts
W WOLVERINE TRADING, LLC Institution	$6.0M 432.0 contracts
C CREDIT INDUSTRIEL ET COMMERCIAL Institution	$4.9M 350.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$3.8M 269.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
W WINMILL & CO. INC Institution	-	5.71% $23.5M	0.11% 168.7K shares	Q3 2019 Held for 6y 2m	$412.4M
K Karani Asset Management LLC Long Only Manager	Richard Lyman Bayles Managing Partner	3.17% $3.7M	0.02% 26.6K shares	Q4 2024 Held for 11 months	$117.1M
Paradiem, LLC RIA/Wealth	Eric Lee Dunavant President	3.01% $12.9M	0.06% 92.5K shares	Q3 2022 Held for 3y 2m	$428.9M
T THOMIST CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	Brian Kuzma Managing Partner	1.94% $6.2M	0.03% 44.8K shares	Q4 2024 Held for 11 months	$320.9M
Waycross Investment Management Co RIA/Wealth	David Geoffrey Schneider President	1.91% $1.9M	0.01% 13.4K shares	Q4 2022 Held for 2y 11m	$98.0M
P Pathway Financial Advisers, LLC RIA/Wealth	Steven Eric Post CIO	1.83% $6.3M	0.03% 45.0K shares	Q3 2023 Held for 2y 2m	$342.2M
ALPINE WOODS CAPITAL INVESTORS, LLC Hedge Fund•Long/Short	Mark Thomas Spellman CEO	1.62% $7.0M	0.03% 49.9K shares	Q4 2024 Held for 11 months	$429.9M
L Laffer Investments RIA/Wealth	Nancy Caven Tengler CEO	1.25% $6.7M	0.03% 48.1K shares	Q1 2021 Held for 4y 8m	$535.5M
S STAR Financial Bank Institution	-	1.24% $2.1M	0.01% 15.0K shares	Q4 2022 Held for 2y 11m	$168.8M
MFG WEALTH MANAGEMENT, INC. RIA/Wealth	Michael Ray Mccracken President	1.19% $1.6M	0.01% 11.3K shares	Q4 2024 Held for 11 months	$132.4M