FULLER & THALER ASSET MANAGEMENT, INC.

Long Only Manager

FULLER & THALER ASSET MANAGEMENT, INC. is a Long Only Manager based in San Mateo, CA led by Raife Brandon Giovinazzo, managing $29.4B across 494 long positions as of Q3 2025 with DOC as the largest holding (2% allocation).

Managing PartnerRaife Brandon Giovinazzo

Portfolio Value: $29.4B
Positions: 494
Top Holding: DOC at 1.62%
Last Reported: Q3 2025

Address411 Borel Avenue, Suite 300, San Mateo, CA, 94402, United States

Top Holdings

Largest long holdings in FULLER & THALER ASSET MANAGEMENT, INC.'s portfolio (13.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Healthpeak Properties DOC	REIT - Healthcare Facilities Real Estate	$476.3M	1.62%	+$33.2M Bought	3.58% 24.9M shares	Q1 2022 Held for 3y 8m
2 KeyCorp KEY	Banks - Regional Financial Services	$468.1M	1.59%	-$155.9M Sold	2.28% 25.0M shares	Q1 2016 Held for 9y 8m
3 Amcor AMCR	Packaging & Containers Consumer Cyclical	$459.5M	1.56%	+$162.1M Bought	2.43% 56.2M shares	Q2 2025 Held for 5 months
4 Primoris Services PRIM	Engineering & Construction Industrials	$419.6M	1.43%	+$106.0M Bought	5.66% 3.1M shares	Q3 2020 Held for 5y 2m
5 Old National Bancorp ONB	Banks - Regional Financial Services	$380.2M	1.29%	+$4.6M Bought	4.42% 17.3M shares	Q3 2021 Held for 4y 2m
6 F.N.B. Corporation FNB	Banks - Regional Financial Services	$375.6M	1.28%	-$14.1M Sold	6.49% 23.3M shares	Q3 2018 Held for 7y 2m
7 Sterling Infrastructure, Inc. STRL	Engineering & Construction Industrials	$375.2M	1.28%	-$115.5M Sold	3.63% 1.1M shares	Q4 2023 Held for 1y 11m
8 Graphic Packaging Holding GPK	Packaging & Containers Consumer Cyclical	$366.6M	1.25%	+$13.9M Bought	6.32% 18.7M shares	Q2 2014 Held for 11y 5m
9 Citizens Financial Group CFG	Banks - Regional Financial Services	$361.4M	1.23%	-$212.3M Sold	1.58% 6.8M shares	Q2 2022 Held for 3y 5m
10 Exelixis EXEL	Biotechnology Healthcare	$343.6M	1.17%	-$18.8M Sold	3.09% 8.3M shares	Q3 2019 Held for 6y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in FULLER & THALER ASSET MANAGEMENT, INC.'s latest filing

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Market Value

$29.4B

Prior: $27.4B

Q/Q Change

+7.33%

+$2.0B

Net Flows % of MV

-4.42%

Turnover Ratio

10.95%

New Purchases

13 stocks

$498.4M

Added To

172 stocks

+$1.8B

Sold Out Of

157 stocks

$893.4M

Reduced Holdings

242 stocks

-$2.7B

Increased Positions

Position	Shares Δ	Change
1 BBT BB&T Corporation BBT	New	0 → 5.3M +$125.2M
2 Indivior INDV	New	0 → 3.2M +$76.4M
3 Zurn Elkay Water Solutions ZWS	New	0 → 1.5M +$71.9M
4 Teleflex TFX	New	0 → 574.5K +$70.3M
5 RadNet RDNT	New	0 → 705.7K +$53.8M

Decreased Positions

Position	Shares Δ	Change
1 ATI ATI	Sold	911.1K → 0 −$78.7M
2 Berkshire Hills Bancorp BHLB	Sold	2.7M → 0 −$68.5M
3 Regal Rexnord RRX	Sold	459.8K → 0 −$66.7M
4 Verint Systems VRNT	Sold	3.3M → 0 −$65.2M
5 Ovintiv OVV	Sold	1.4M → 0 −$54.1M

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Analytics

Portfolio insights and performance metrics for FULLER & THALER ASSET MANAGEMENT, INC.

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Sector Allocation

Industrials

20.80%

Consumer Cyclical

16.90%

Financial Services

16.90%

Technology

14.20%

Healthcare

11.20%

Real Estate

4.20%

Basic Materials

3.90%

Energy

3.60%

Utilities

2.80%

Consumer Defensive

2.30%

Communication Services

1.80%

ETF

0.10%

Market Cap Distribution

Mega Cap (> $200B)

0.17%

Large Cap ($10B - $200B)

25.20%

Mid Cap ($2B - $10B)

66.94%

Small Cap ($300M - $2B)

6.16%

Micro Cap ($50M - $300M)

0.01%

Nano Cap (< $50M)

1.43%

N/A (ETF or Unknown)

0.09%

Portfolio Concentration

Top 10 Holdings %

13.68%

Top 20 Holdings %

22.79%

Top 50 Holdings %

42.44%

Top 100 Holdings %

65.4%