Bel Fuse

BELFB and BELFA • NASDAQ

Bel Fuse is a hardware, equipment & parts company in the technology sector on NASDAQ, led by Daniel Bernstein, with a market cap of $2.2B. As of Q3 2025, 80% of shares are held by 202 institutional investors, with VANGUARD GROUP INC as the largest holder at 7.59%.

Chief Executive OfficerDaniel Bernstein

Market Cap$2.2B

Hardware, Equipment & Parts

Technology

Employees5.3K

Websitebelfuse.com

Country

United States of America

Overview

Overview of institutional ownership in BELFB and BELFA as of Q3 2025 with a market cap of $1.8B

All Institutions

Institutions: 202
Value Held: $1.4B
Shares Held: 10.2M
Avg Position: $5.5M
Median Position: $574.5K

Hedge Funds

Hedge Funds: 29
Value Held: $131.6M
Shares Held: 948.5K
Avg Position: $3.9M
Median Position: $1.2M

Ownership Breakdown

Institutional (non-HF)

72.2%

$1.3B

Hedge Funds

7.37%

$131.6M

Retail & Other

20.43%

$364.9M

Based on market cap of $1.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in BELFB and BELFA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$134.2M 0.00% of portfolio	7.59% 960.6K shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$128.3M 0.00% of portfolio	7.31% 925.2K shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
FMR LLC Institution	-	$96.4M 0.01% of portfolio	5.52% 699.1K shares	Q1 2022 Held for 3y 8m	$1.92T
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$73.3M 0.03% of portfolio	4.10% 519.5K shares	Q3 2023 Held for 2y 2m	$218.74B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$67.5M 0.01% of portfolio	3.78% 478.7K shares	Q2 2024 Held for 1y 5m	$912.31B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$54.6M 0.01% of portfolio	3.14% 398.1K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$50.4M 0.03% of portfolio	2.82% 357.3K shares	Q2 2025 Held for 5 months	$161.58B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$41.5M 0.00% of portfolio	2.37% 300.1K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$40.6M 0.05% of portfolio	2.33% 295.6K shares	≤ Q2 2013 Held for 12y 5m+	$75.8B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$36.5M 0.00% of portfolio	2.07% 262.5K shares	≤ Q2 2013 Held for 12y 5m+	$2.88T

Net Capital Flow

Institutional buying and selling activity for BELFB and BELFA in Q3 2025

Traded: −$22.9M
Buyers: 104
Sellers: 93
Total Bought: +$247.9M
Total Sold: −$270.8M
Avg Position: $6.3M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$49.7M +356.0K shares	$96.4M 699.1K shares
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$45.9M +325.7K shares	$67.5M 478.7K shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$26.1M +185.0K shares	$50.4M 357.3K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$16.2M +117.1K shares	$16.2M 117.1K shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	+$13.8M +98.2K shares	$34.6M 245.2K shares
HENDERSON GROUP PLC Institution	+$13.0M +92.1K shares	$73.3M 519.5K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$11.5M +83.4K shares	$15.1M 109.4K shares
J JANE STREET GROUP, LLC Institution	+$10.7M +76.7K shares	$10.7M 76.7K shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	+$8.6M +61.2K shares	$17.5M 123.8K shares
Invesco Ltd. ETF Provider	+$5.2M +37.2K shares	$24.6M 174.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$45.5M −325.0K shares	$54.6M 398.1K shares
ADVISORY RESEARCH INC Long Only Manager	−$27.8M −197.3K shares	$30.6M 221.8K shares
R ROYCE & ASSOCIATES LLC Institution	−$27.4M −201.0K shares	$28.2M 200.3K shares
Makaira Partners LLC Hedge Fund•Value	−$20.6M −146.0K shares	$14.6M 104.0K shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	−$19.9M −141.3K shares	$34.5M 244.5K shares
B BESSEMER GROUP INC Institution	−$16.9M −119.5K shares	$29.1M 206.3K shares
A AMERICAN CENTURY COMPANIES INC Institution	−$13.8M −98.6K shares	$27.3M 198.4K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$8.2M −58.3K shares	$41.5M 300.1K shares
WASATCH ADVISORS INC Long Only Manager	−$6.8M −48.5K shares	$33.2M 235.5K shares
R Roubaix Capital, LLC Hedge Fund•Long/Short	−$6.3M −64.6K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BELFB and BELFA in Q3 2025

New Positions: 25
New Value: $15.8M
Exited Positions: 22
Exited Value: $31.9M

New Positions

Institution	Position Value
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$4.4M 31.5K shares
CASTLEARK MANAGEMENT LLC Long Only Manager	$3.4M 24.2K shares
C CREDIT AGRICOLE S A Institution	$1.2M 8.5K shares
ARISTEIA CAPITAL LLC Hedge Fund•Multi-Strategy	$1.1M 9.1K shares
C CAXTON ASSOCIATES LLP Institution	$962.6K 6.8K shares
D DARK FOREST CAPITAL MANAGEMENT LP Pension/Endowment	$864.7K 6.1K shares
T TD ASSET MANAGEMENT INC Institution	$837.4K 5.9K shares
Semanteon Capital Management, LP Hedge Fund•Long/Short	$563.5K 4.0K shares
BECK MACK & OLIVER LLC Long Only Manager	$493.6K 3.5K shares
GLOBALT Investments LLC / GA Long Only Manager	$455.2K 3.2K shares

Exited Positions

Institution	Previous Position
R Roubaix Capital, LLC Hedge Fund•Long/Short	$6.3M 64.6K shares
L LSV ASSET MANAGEMENT Long Only Manager	$4.2M 43.1K shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$3.8M 39.1K shares
APIS CAPITAL ADVISORS, LLC Hedge Fund•Long/Short	$3.0M 30.8K shares
Hodges Capital Management Inc. Long Only Manager	$2.3M 23.3K shares
SG Capital Management LLC Hedge Fund•Event Driven	$2.1M 21.2K shares
O OPTIONS SOLUTIONS, LLC Hedge Fund•Sector	$2.0M 20.4K shares
FRANKLIN RESOURCES INC Institution	$1.7M 17.2K shares
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$1.5M 15.5K shares
SIERRA SUMMIT ADVISORS LLC RIA/Wealth	$906.0K 9.3K shares

Options Activity

Institutions with the largest Call and Put options positions in BELFB and BELFA as of Q3 2025

Call Positions: 4
Call Value: $9.2M
Put Positions: 1
Put Value: $747.4K

Call Positions

Institution	Position Value
FRANKLIN RESOURCES INC Institution	$4.1M 217.0 contracts
P PEAK6 LLC Institution	$2.8M 200.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.3M 93.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.0M 74.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$747.4K 53.0 contracts

Most Committed Institutions

Institutions with BELFB and BELFA as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Makaira Partners LLC Hedge Fund•Value	Thomas Moore Bancroft CIO	7.48% $14.6M	0.82% 104.0K shares	Q1 2025 Held for 8 months	$194.7M
S SANTA MONICA PARTNERS LP Institution	-	7.48% $12.3M	0.72% 91.1K shares	Q4 2017 Held for 7y 11m	$164.0M
ADVISORY RESEARCH INC Long Only Manager	Matthew Kent Swaim CEO	4.02% $30.6M	1.75% 221.8K shares	Q2 2023 Held for 2y 5m	$761.4M
Ballast Asset Management, LP Long Only Manager	Ragen R Stienke Managing Partner	3.29% $7.2M	0.40% 51.1K shares	Q1 2024 Held for 1y 8m	$219.1M
E Expect Equity LLC Institution	-	3.23% $3.3M	0.19% 23.5K shares	Q4 2024 Held for 11 months	$102.4M
INVESTORS ASSET MANAGEMENT OF GEORGIA INC /GA/ /ADV RIA/Wealth	Timothy Michael Rigby President	2.80% $6.6M	0.40% 51.1K shares	Q4 2014 Held for 10y 11m	$234.4M
P PARAGON ASSOCIATES & PARAGON ASSOCIATES II JOINT VENTURE Institution	-	2.52% $1.4M	0.08% 10.0K shares	Q1 2024 Held for 1y 8m	$56.1M
Dean Capital Management Long Only Manager	Jessica Lynn Skinner CCO	1.77% $4.5M	0.25% 32.2K shares	Q2 2024 Held for 1y 5m	$256.5M
PERRITT CAPITAL MANAGEMENT INC Long Only Manager	Mark J Buh President	0.95% $2.0M	0.11% 14.2K shares	Q3 2014 Held for 11y 2m	$211.0M
Portolan Capital Management, LLC Hedge Fund•Long/Short	George Frederic Mccabe CIO	0.94% $17.5M	0.98% 123.8K shares	Q3 2022 Held for 3y 2m	$1.8B

Hedge Fund Spotlight

Discover hedge funds investing in BELFB and BELFA

Makaira Partners LLC

Hedge Fund • Value

Portfolio ManagerThomas Moore Bancroft

Portfolio Value: $194.7M
Positions: 12
Last Reported: Q3 2025

Sector Allocation

Position in Bel Fuse

BELFB and BELFA

Market Value: $57.7M
Shares Held: 604.0K
Portfolio Weight: 21.17%
Owned Since: 2025-Q1

Top Holding	Sector	Market Value	Weight
1 Charter Communications, Inc. CHTR	Telecommunications Services Communication Services	$45.1M	23.17%
2 Bath & Body Works BBWI	Specialty Retail Consumer Cyclical	$35.3M	18.12%
3 Lamar Advertising LAMR	REIT - Specialty Real Estate	$20.8M	10.69%