Archer-Daniels-Midland Company

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 1,096 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Holdings side: 21 equity-method affiliates, all named and percentage-sized directly in ADM's Q2 2026 10-Q (filed 4 Aug 2026, period 30 Jun 2026), which is fresher than and consistent with the FY2025 10-K on the one figure both disclose (Wilmar, 22.5% in both). This is the JV-heavy company the research task flagged, so every pct_of_target above was read back against its own method_note prose before writing this file, and none is a fraction (written as 22.5, 32.2, 49.0, 50.0, 37.5, 45.3, 22.1, 40.0, 60.0, 42.8, 34.3, 26.2, never as 0.225, 0.322, etc.).
• The one LISTED foreign affiliate is Wilmar International Limited (SGX: F34), a Singapore Exchange listed agribusiness group. ADM's stake is 22.5%, stated directly by ADM as of both 30 Jun 2026 and 31 Dec 2025 (unchanged). pct_denominator records Wilmar's OWN total shares outstanding (approximately 6.24 billion, per stockanalysis.com, an aggregator, as of 18 Aug 2026), per the brief's instruction; ADM's own filings never disclose ADM's actual Wilmar share count, so 'shares' is left null rather than backed into. value_usd uses ADM's own reported $3.9 billion MARKET value (Level 1, quoted Singapore Exchange price) as of 30 Jun 2026, not the $4.1 billion CARRYING (equity-method book) value as of the same date; both figures are recorded in the holding's method_note. Both figures were ALREADY converted to U.S. dollars by ADM itself at an unstated exchange rate; no independent currency conversion was performed here, and no foreign-currency figure is presented as dollars.
• Combined-balance trap: none of the 20 non-Wilmar holdings gets an individual value_usd. ADM's Q2 2026 10-Q balance sheet reports a single 'Investments in affiliates' line of $5,901 million at 30 Jun 2026 ($5,560 million at 31 Dec 2025), which covers Wilmar (individually disclosed at $4.1 billion carrying value, or $4.0 billion at 31 Dec 2025) together with all 20 other named equity-method affiliates combined (implying roughly $1.8 billion, or $1.6 billion at 31 Dec 2025, shared across all 20, none individually split out anywhere in either filing read). Per the brief's rule, every one of those 20 rows carries value_usd: null with this combined figure recorded here rather than guessed or divided evenly.
• Grain inventories, commodity derivatives, and hedging positions are explicitly NOT treated as equity stakes anywhere in this file. ADM's Q2 2026 10-Q separately discusses $10,586 million of inventories (mostly merchandisable agricultural commodities carried at market value) and extensive commodity derivative, forward purchase/sale, and hedging disclosures (e.g. a commodity-position market-risk table and interest-rate/currency derivative tables); none of that activity appears in the holdings array, and storage or transport contracts are likewise excluded as not equity stakes.
• Register side: fresh Q2 2026 (30 Jun 2026 position date) Form 13F-HR filings were read directly for every institutional row above (Vanguard's 7 holding successor entities, State Farm, BlackRock, State Street, Wellington, Charles Schwab Investment Management, Dodge & Cox, Geode, Northern Trust, and both T. Rowe Price registrants), in preference to the 2026 proxy's own 5%-holder table, which cites stale Schedule 13G/13G-A filings dated between Jan 2024 and Feb 2025. Where both a fresh 13F figure and a stale proxy/13G figure exist (Vanguard, State Farm, BlackRock, State Street), the two are close and mutually consistent (differences of at most a few percent, in both directions), which cross-validates the fresh figures rather than exposing an error like the Baker Hughes case the brief describes.
• T. Rowe Price Associates, Inc. (CIK 0000080255) files its Q2 2026 13F-HR information table in THOUSANDS of dollars; the raw XML value was rescaled by 1000x here to $60,736,000, restoring an implied ~$76.4/share price consistent with every other filer's cluster. T. Rowe Price Investment Management, Inc. (CIK 0001897612) holds zero ADM shares as of 30 Jun 2026, confirmed by a full-table CUSIP and name-fragment search.
• Capital Group was checked across all three CIKs the brief names (Capital World Investors 0001422849, Capital International Investors 0001562230, Capital Research Global Investors 0001422848); none holds any ADM position in its Q2 2026 13F-HR (searched by both 'ARCHER' and 'ARCHER DANIELS' fragments, no CUSIP 039483102 row in any of the three). No Capital Group register row is included for this reason; this is a sourced finding, not a gap.
• No founding-family or foundation holding was found: the 2026 proxy's beneficial-ownership disclosures were searched for 'Foundation' and 'Andreas' (the historical founding family name), and nothing beyond routine director biography mentions of unrelated third-party foundations (e.g. Georgia Tech Foundation as a director's outside trusteeship) turned up. ADM has a single class of common stock, no dual-class structure, and no disclosed dynastic or founder-control position; the largest 'strategic' holder found is State Farm Mutual Automobile Insurance Company, a long-tenured institutional (not founder-related) stake.
• Self-gate, computed the way the chart computes it, from this final file: 12 register rows. Members map: the officer/director group's shares reduced by Luciano's 1,920,559 rolled-up shares (3,108,428 - 1,920,559 = 1,187,869 residual); every other row, including Luciano at full value, counted as-is. Total = 63,595,509 (Vanguard) + 46,796,552 (State Farm) + 44,621,586 (BlackRock) + 33,639,018 (State Street) + 17,670,220 (Wellington) + 14,182,325 (Dodge & Cox) + 16,617,425 (Schwab) + 13,308,967 (Geode) + 11,454,768 (Northern Trust) + 794,959 (T. Rowe) + 1,187,869 (officer group residual) + 1,920,559 (Luciano) = 265,789,757 shares, against 481,959,583 shares outstanding, or 55.15%. This sits just above the brief's typical 25-55% guidance band. It was NOT shipped without checking for a double-count: every one of the top four holders (Vanguard, State Farm, BlackRock, State Street) independently cross-validates within a few percent against the 2026 proxy's separately-sourced stale 13G figures (see the register note above), and the project's own bulk Q1 2026 register (data/registers/ADM.json) separately reports 1,095 13F filers totaling 399,589,070 shares (82.9% of shares outstanding) across all institutional holders, of which this file's top 10 institutions (262,681,329 shares) represent about two-thirds. ADM's institutional ownership is unusually concentrated at the top (State Farm alone at 9.71% is an unusually large single non-index holder for a company this size), which is the most likely explanation for landing just above the typical band rather than a data error.