The divergence between active selling (Adage, AllianceBernstein) and passive buying (Schwab) suggests informed reduction by active managers. Monitor FSBC's next earnings release and loan portfolio metrics for potential concerns that drove these exits. The 13F data is 45+ days stale, so positions may have changed.
Executive Summary
Institutional cluster for Five Star Bancorp (FSBC) shows mixed activity with 5 buyers adding $3.6M and 3 sellers reducing by $4.77M in Q3 2024. Active managers (Adage Capital, AllianceBernstein, First Trust Advisors) led the selling, while passive funds like Schwab doubled their position. Net institutional ownership declined by $1.17M, though the absolute dollar amounts are modest relative to the bank's market cap.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$1.2M
▲ Buyers (5)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Schwab | DOUBLED | +201.4% | $4.0M | $2.9M |
| Ubs Am, A Distinct Business Un | ADD | +25.5% | $667.0K | $244.0K |
| Legal & General Group | ADD | +69.1% | $527.0K | $279.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Adage Capital Partners Gp | TRIM | -48% | $7.7M | -$2.7M |
| Alliancebernstein | NEAR_EXIT | -85.6% | $1.5M | -$1.2M |
| First Trust Advisors | NEAR_EXIT | -75.1% | $1.2M | -$841.6K |
Key Facts
- 3 sellers reduced holdings by $4.77M total, led by Adage Capital trimming 48% ($2.68M)
- 5 buyers added $3.6M total, led by Schwab doubling to $4.0M
- Two sellers (AllianceBernstein, First Trust) exited near-fully (85.6% and 75.1% reductions)
- All buyers except Schwab are small asset managers with sub-$1M current positions
- Sellers are active managers; buyers are mostly passive/rebalancing funds
Financial Impact
3 sellers reduced holdings by $4.77M while 5 buyers added $3.6M, net outflow of $1.17M in institutional positions
Risk Factors
- 13F data reflects quarter-end positions with 45-day lag; current holdings may differ significantly
- Passive buying (Schwab) may be index rebalancing, not a fundamental view
- Absolute dollar amounts are small for a bank; cluster may reflect routine portfolio adjustments rather than a strong thesis
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-FSBC-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Press Release | — | awaiting T+5 | — | — |
Oct 19, 2026 7d ago | 8-K | $42.69 $44.50 | ▲ +4.24% | ▲ +4.38% | — |
Oct 16, 2026 10d ago | Press Release | $42.69 $44.51 | ▲ +4.26% | ▲ +4.41% | — |
Oct 14, 2026 12d ago | 8-K | $42.51 $43.09 | ▲ +1.36% | ▲ +0.91% | — |
Oct 13, 2026 13d ago | Press Release | $42.51 | awaiting T+5 | — | — |
Sep 17, 2026 5w ago | 8-K | $44.47 $43.83 | ▼ −1.44% | ▼ −2.71% | — |
Sep 10, 2026 6w ago | 8-K | $46.41 $44.47 | ▼ −4.18% | ▼ −3.96% | — |
Jul 24, 2026 13w ago | Insider Cluster | $47.21 $47.31 | ▲ +0.21% | ▼ −2.30% | — |
Jul 22, 2026 13w ago | Press Release | $47.35 $47.24 | ▲ +0.23% | ▲ +0.71% | — |
Jul 22, 2026 13w ago | 8-K | $47.35 $47.24 | ▼ −0.23% | ▼ −0.71% | — |
US Market Status
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