Shell Asset Management Co reports 54.82% decrease in ownership of MMSI / Merit Medical Systems, Inc.

梅里特醫療系統公司

US ˙ NasdaqGS ˙ US5898891040

Security	MMSI / Merit Medical Systems, Inc.
Institution	Shell Asset Management Co
Latest Disclosed Ownership	2,585 shares
Latest Disclosed Value	$ 215

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 2,585 shares of Merit Medical Systems, Inc. (US:MMSI) valued at $215,150 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 5,721 shares of Merit Medical Systems, Inc.. The current value of the position is $162,958 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2025-11-07	2025-09-30	13F	MERIT MED SYS	COM	589889104	2,585	-3,136	-54.82	0		0.0216
2025-07-23	2025-06-30	13F	MERIT MED SYS	COM	589889104	5,721	-984	-14.68	1		0.0185
2025-05-14	2025-03-31	13F	MERIT MED SYS	COM	589889104	6,705	-282	-4.04	1		0.0337
2025-02-14	2024-12-31	13F	MERIT MED SYS	COM	589889104	6,987	0	0.00	1		0.0295
2024-11-07	2024-09-30	13F	MERIT MED SYS	COM	589889104	6,987	0	0.00	1		0.0304
2024-07-25	2024-03-31	13F	MERIT MED SYS	COM	589889104	6,987	-702	-9.13	1		0.0274
2024-02-14	2023-12-31	13F	MERIT MED SYS	COM	589889104	7,689	-2,313	-23.13	1		0.0270
2023-11-08	2023-09-30	13F	MERIT MED SYS	COM	589889104	10,002	-172	-1.69	1		0.0285
2023-07-28	2023-06-30	13F	MERIT MED SYS	COM	589889104	10,174	-58	-0.57	1		0.0336
2023-05-15	2023-03-31	13F	MERIT MED SYS	COM	589889104	10,232	-36	-0.35	1		0.0314
2023-02-07	2022-12-31	13F	MERIT MED SYS	COM	589889104	10,268	-2,205	-17.68	1	-100.00	0.0318
2022-11-14	2022-09-30	13F	MERIT MED SYS	COM	589889104	12,473	-3,271	-20.78	705	-17.45	0.0275
2022-08-09	2022-06-30	13F	MERIT MED SYS	COM	589889104	15,744	28	0.18	854	-18.28	0.0253
2022-05-04	2022-03-31	13F	MERIT MED SYS	COM	589889104	15,716	-2,314	-12.83	1,045	-6.95	0.0247
2022-02-09	2021-12-31	13F	MERIT MED SYS	COM	589889104	18,030	79	0.44	1,123	-12.88	0.0230
2021-11-04	2021-09-30	13F	MERIT MED SYS	COM	589889104	17,951	-780	-4.16	1,289	6.44	0.0289
2021-08-12	2021-06-30	13F	MERIT MED SYS	COM	589889104	18,731	1,010	5.70	1,211	14.14	0.0235
2021-05-10	2021-03-31	13F	MERIT MED SYS	COM	589889104	17,721	-110	-0.62	1,061	7.17	0.0212
2021-02-16	2020-12-31	13F	MERIT MED SYS	COM	589889104	17,831	0	0.00	990	27.58	0.0204
2020-11-13	2020-09-30	13F	MERIT MED SYS	COM	589889104	17,831	0	0.00	776	-4.67	0.0180
2020-08-10	2020-06-30	13F	MERIT MED SYS	COM	589889104	17,831	-227	-1.26	814	44.33	0.0203
2020-05-11	2020-03-31	13F	MERIT MED SYS	COM	589889104	18,058	-273	-1.49	564	-1.40	0.0157
2020-02-13	2019-12-31	13F	MERIT MED SYS	COM	589889104	18,331	-431	-2.30	572	0.18	0.0123
2019-11-12	2019-09-30	13F	MERIT MED SYS	COM	589889104	18,762	-162	-0.86	571	-49.33	0.0130
2019-08-12	2019-06-30	13F	MERIT MED SYS	COM	589889104	18,924	-430	-2.22	1,127	-5.85	0.0249
2019-05-09	2019-03-31	13F	MERIT MED SYS	COM	589889104	19,354	0	0.00	1,197	10.83	0.0264
2019-02-13	2018-12-31	13F	MERIT MED SYS	COM	589889104	19,354	-1,600	-7.64	1,080	-16.15	0.0269
2018-11-13	2018-09-30	13F	MERIT MED SYS	COM	589889104	20,954	0	0.00	1,288	20.04	0.0254
2018-08-10	2018-06-30	13F	MERIT MED SYS	COM	589889104	20,954	-1,119	-5.07	1,073	7.19	0.0220
2018-05-14	2018-03-31	13F	MERIT MED SYS	COM	589889104	22,073	0	0.00	1,001	4.93	0.0199
2018-02-09	2017-12-31	13F	MERIT MED SYS	COM	589889104	22,073	-18,792	-45.99	954	-44.89	0.0189
2017-10-20	2017-09-30	13F/A-1	MERIT MED SYS	COM	589889104	40,865	-1,000	-2.39	1,731	8.39	0.0385
2017-07-26	2017-06-30	13F	MERIT MED SYS	COM	589889104	41,865	0	0.00	1,597	31.98	0.0396
2017-04-26	2017-03-31	13F	MERIT MED SYS	COM	589889104	41,865	-2,929	-6.54	1,210	1.94	0.0309
2017-01-10	2016-12-31	13F	MERIT MED SYS	COM	589889104	44,794	-391	-0.87	1,187	8.11	0.0321
2016-10-28	2016-09-30	13F	MERIT MED SYS	COM	589889104	45,185	45,185		1,098		0.0263

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.