Steel Dynamics, Inc.
US ˙ NasdaqGS ˙ US8581191009

SecuritySTLD / Steel Dynamics, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership3,149,055 shares
Latest Disclosed Value $ 566,830,340
Morgan Stanley reports 3.66% decrease in ownership of STLD / Steel Dynamics, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 3,149,055 shares of Steel Dynamics, Inc. (US:STLD) valued at $566,829,900 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 3,268,743 shares of Steel Dynamics, Inc.. This represents a change in shares of -3.66% during the quarter. The current value of the position is $845,521,268 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 Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F STEEL DYNAMICS COM 858119100 3,149,055 -119,688 -3.66 566,830 2.34 0.0342
2026-05-27 2025-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 3,268,743 -196,680 -5.68 553,889 14.63 0.0331
2026-02-13 2025-12-31 13F STEEL DYNAMICS COM 858119100 3,268,743 -196,680 553,889 0.0331
2026-05-27 2025-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 3,465,423 341,125 10.92 483,184 20.81 0.0293
2025-11-14 2025-09-30 13F STEEL DYNAMICS COM 858119100 3,465,423 341,125 483,184 0.0293
2025-08-15 2025-06-30 13F STEEL DYNAMICS COM 858119100 3,124,298 594,591 23.50 399,942 26.40 0.0261
2025-05-15 2025-03-31 13F STEEL DYNAMICS COM 858119100 2,529,707 60,501 2.45 316,416 12.34 0.0226
2025-05-15 2024-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,469,206 58,086 2.41 281,663 -7.35 0.0197
2025-02-14 2024-12-31 13F STEEL DYNAMICS COM 858119100 2,469,206 58,086 281,663 0.0197
2025-05-14 2024-09-30 13F/A-2 STEEL DYNAMICS COM 858119100 2,411,120 -82,480 -3.31 303,994 -5.86 0.0220
2025-02-14 2024-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 2,411,120 -82,480 303,994 0.0220
2024-11-14 2024-09-30 13F STEEL DYNAMICS COM 858119100 2,411,120 -82,480 303,994 0.0026
2025-05-14 2024-06-30 13F/A-2 STEEL DYNAMICS COM 858119100 2,493,600 116,124 4.88 322,921 -8.37 0.0250
2024-10-17 2024-06-30 13F/A-1 STEEL DYNAMICS COM 858119100 2,493,600 116,124 322,921 0.0250
2024-08-14 2024-06-30 13F STEEL DYNAMICS COM 858119100 2,493,600 116,124 322,921 0.0250
2024-10-17 2024-03-31 13F/A-2 STEEL DYNAMICS COM 858119100 2,377,476 -117,892 -4.72 352,414 19.58 0.0283
2024-08-16 2024-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,377,476 -117,892 352,414 0.0283
2024-05-15 2024-03-31 13F STEEL DYNAMICS COM 858119100 2,377,476 -117,892 352,414 0.0283
2024-08-16 2023-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,495,368 -117,062 -4.48 294,703 5.21 0.0260
2024-02-13 2023-12-31 13F STEEL DYNAMICS COM 858119100 2,495,368 -117,062 294,703 0.0260
2023-11-15 2023-09-30 13F STEEL DYNAMICS COM 858119100 2,612,430 19,833 0.76 280,105 -0.82 0.0285
2023-08-14 2023-06-30 13F STEEL DYNAMICS COM 858119100 2,592,597 -248,096 -8.73 282,412 -12.07 0.0278
2023-05-15 2023-03-31 13F STEEL DYNAMICS COM 858119100 2,840,693 -193,959 -6.39 321,169 8.33 0.0344
2023-02-14 2022-12-31 13F STEEL DYNAMICS COM 858119100 3,034,652 684,975 29.15 296,486 77.84 0.0337
2022-11-14 2022-09-30 13F STEEL DYNAMICS COM 858119100 2,349,677 -228,174 -8.85 166,710 -2.24 0.0227
2022-10-27 2022-06-30 13F/A-1 STEEL DYNAMICS COM 858119100 2,577,851 1,271,587 97.35 170,524 56.47 0.0221
2022-08-15 2022-06-30 13F STEEL DYNAMICS COM 858119100 2,577,851 1,271,587 170,524 0.0221
2022-10-27 2022-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 1,306,264 -327,250 -20.03 108,982 7.48 0.0147
2022-05-13 2022-03-31 13F STEEL DYNAMICS COM 858119100 1,306,264 -327,250 108,982 0.0147
2022-02-14 2021-12-31 13F STEEL DYNAMICS COM 858119100 1,633,514 -28,313 -1.70 101,393 4.33 0.0125
2021-11-15 2021-09-30 13F STEEL DYNAMICS COM 858119100 1,661,827 -450,669 -21.33 97,183 -22.81 0.0131
2021-08-23 2021-06-30 13F/A-1 STEEL DYNAMICS COM 858119100 2,112,496 711,503 50.79 125,905 77.04 0.0166
2021-08-16 2021-06-30 13F STEEL DYNAMICS COM 858119100 2,112,496 711,503 125,905 0.0035
2021-05-17 2021-03-31 13F STEEL DYNAMICS COM 858119100 1,400,993 364,201 35.13 71,115 86.03 0.0104
2021-02-16 2020-12-31 13F STEEL DYNAMICS COM 858119100 1,036,792 35,026 3.50 38,227 33.28 0.0059
2020-11-13 2020-09-30 13F STEEL DYNAMICS COM 858119100 1,001,766 375,292 59.91 28,681 75.46 0.0055
2020-08-14 2020-06-30 13F STEEL DYNAMICS COM 858119100 626,474 -678,982 -52.01 16,346 -44.45 0.0036
2020-05-26 2020-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 1,305,456 416,707 46.89 29,426 -2.73 0.0080
2020-05-15 2020-03-31 13F STEEL DYNAMICS COM 858119100 1,305,456 416,707 29,426 2,260.5302
2020-02-14 2019-12-31 13F STEEL DYNAMICS COM 858119100 888,749 108,390 13.89 30,252 30.09 0.0070
2019-11-14 2019-09-30 13F STEEL DYNAMICS COM 858119100 780,359 -233,694 -23.05 23,255 -24.06 0.0062
2019-08-14 2019-06-30 13F STEEL DYNAMICS COM 858119100 1,014,053 -305,216 -23.14 30,623 -34.19 0.0082
2019-05-15 2019-03-31 13F STEEL DYNAMICS COM 858119100 1,319,269 -167,154 -11.25 46,530 4.21 0.0132
2019-02-14 2018-12-31 13F STEEL DYNAMICS COM 858119100 1,486,423 -279,079 -15.81 44,651 -44.03 0.0134
2019-04-23 2018-09-30 13F/A-2 STEEL DYNAMICS COM 858119100 1,765,502 262,712 17.48 79,783 15.54 0.0200
2018-11-20 2018-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 1,765,502 0 79,783 0.0200
2018-11-14 2018-09-30 13F STEEL DYNAMICS COM 858119100 1,765,502 262,712 79,783
2019-04-23 2018-06-30 13F/A-1 STEEL DYNAMICS COM 858119100 1,502,790 -22,428 -1.47 69,052 2.38 0.0187
2018-08-14 2018-06-30 13F STEEL DYNAMICS COM 858119100 1,502,790 -22,428 69,052
2019-04-23 2018-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 1,525,218 -169,845 -10.02 67,446 -7.75 0.0187
2018-05-14 2018-03-31 13F STEEL DYNAMICS COM 858119100 1,525,218 -169,845 67,446
2019-04-23 2017-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 1,695,063 -456,443 -21.22 73,109 -1.42 0.0200
2018-02-14 2017-12-31 13F STEEL DYNAMICS COM 858119100 1,695,063 -456,443 73,109
2017-11-14 2017-09-30 13F STEEL DYNAMICS COM 858119100 2,151,506 -55,057 -2.50 74,163 -6.14 0.0222
2017-08-11 2017-06-30 13F STEEL DYNAMICS COM 858119100 2,206,563 -29,315 -1.31 79,018 1.67 0.0239
2017-05-22 2017-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,235,878 209,090 10.32 77,719 7.77 0.0239
2017-05-12 2017-03-31 13F STEEL DYNAMICS COM 858119100 2,235,878 77,719
2017-02-22 2016-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,026,788 531,793 35.57 72,113 93.02 0.0236
2017-02-13 2016-12-31 13F STEEL DYNAMICS COM 858119100 2,026,788 72,113
2016-11-10 2016-09-30 13F STEEL DYNAMICS COM 858119100 1,494,995 -2,294,539 -60.55 37,361 -59.76 0.0128
2016-08-12 2016-06-30 13F STEEL DYNAMICS COM 858119100 3,789,534 1,350,642 55.38 92,844 69.12 0.0335
2016-05-12 2016-03-31 13F STEEL DYNAMICS COM 858119100 2,438,892 207,809 9.31 54,899 37.70 0.0211
2016-02-09 2015-12-31 13F STEEL DYNAMICS COM 858119100 2,231,083 -1,215,478 -35.27 39,869 -32.67 0.0144
2016-02-08 2015-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 3,446,561 7,115 0.21 59,212 -16.89 0.0219
2015-11-09 2015-09-30 13F STEEL DYNAMICS COM 858119100 3,446,561 59,212
2015-08-12 2015-06-30 13F STEEL DYNAMICS COM 858119100 3,439,446 434,822 14.47 71,248 17.97 0.0247
2015-05-14 2015-03-31 13F STEEL DYNAMICS COM 858119100 3,004,624 269,840 9.87 60,393 11.87 0.0222
2015-02-13 2014-12-31 13F STEEL DYNAMICS COM 858119100 2,734,784 1,113,149 68.64 53,984 47.23 0.0197
2014-12-16 2014-09-30 13F/A-1 STEEL DYNAMICS COM 858119100 1,621,635 700,803 76.11 36,666 123.83 0.0141
2014-11-14 2014-09-30 13F STEEL DYNAMICS COM 858119100 1,621,635 36,666
2014-05-13 2014-03-31 13F STEEL DYNAMICS COM 858119100 920,832 -538,521 -36.90 16,381 -42.56 0.0069
2014-02-13 2013-12-31 13F STEEL DYNAMICS COM 858119100 1,459,353 -118,569 -7.51 28,516 8.08 0.0121
2013-11-13 2013-09-30 13F STEEL DYNAMICS INC COM ST COM 858119100 1,577,922 581,432 58.35 26,383 77.57 0.0125
2013-08-08 2013-06-30 13F STEEL DYNAMICS INC COM ST COM 858119100 996,490 996,490 14,858 0.0075
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.