FS Bancorp, Inc.

FSBW • NASDAQ

FS Bancorp, Inc. is a banks - regional company in the financial services sector on NASDAQ, led by Matthew D. Mullet, with a market cap of $322.8M. As of Q3 2025, 63% of shares are held by 96 institutional investors, with T. Rowe Price Investment Management, Inc. as the largest holder at 13.49%.

CEOMatthew D. Mullet

Market Cap$322.8M

Banks - Regional

Financial Services

Employees570.0

Websitefsbwa.com

Country

United States of America

Overview

Overview of institutional ownership in FSBW as of Q3 2025 with a market cap of $303.2M

All Institutions

Institutions: 96
Value Held: $191.4M
Shares Held: 4.8M
Avg Position: $2.0M
Median Position: $316.3K

Hedge Funds

Hedge Funds: 13
Value Held: $15.8M
Shares Held: 394.7K
Avg Position: $1.2M
Median Position: $817.4K

Ownership Breakdown

Institutional (non-HF)

57.91%

$175.6M

Hedge Funds

5.2%

$15.8M

Retail & Other

36.9%

$111.9M

Based on market cap of $303.2M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in FSBW as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$40.9M 0.03% of portfolio	13.49% 1.0M shares	Q3 2022 Held for 3y 2m	$161.58B
B BlackRock, Inc. Institution	-	$17.6M 0.00% of portfolio	5.79% 439.9K shares	Q1 2017 Held for 8y 8m	$5.67T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$16.6M 0.00% of portfolio	5.48% 416.6K shares	Q2 2017 Held for 8y 5m	$466.32B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$15.8M 0.00% of portfolio	5.20% 395.0K shares	Q3 2013 Held for 12y 2m	$6.69T
D De Lisle Partners LLP Institution	-	$15.4M 1.89% of portfolio	5.07% 385.5K shares	Q1 2024 Held for 1y 8m	$815.6M
Pacific Ridge Capital Partners, LLC Long Only Manager	Mark Daniel Cooper President	$8.5M 1.85% of portfolio	2.81% 213.6K shares	Q1 2016 Held for 9y 8m	$460.6M
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$6.2M 0.00% of portfolio	2.05% 156.0K shares	Q3 2017 Held for 8y 2m	$1.57T
T TCW GROUP INC Institution	-	$6.1M 0.05% of portfolio	2.00% 152.0K shares	Q4 2016 Held for 8y 11m	$11.4B
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$5.8M 0.00% of portfolio	1.90% 144.4K shares	Q3 2017 Held for 8y 2m	$317.45B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$5.1M 0.00% of portfolio	1.70% 128.9K shares	Q1 2018 Held for 7y 8m	$2.88T

Net Capital Flow

Institutional buying and selling activity for FSBW in Q3 2025

Traded: −$2.1M
Buyers: 36
Sellers: 36
Total Bought: +$4.1M
Total Sold: −$6.2M
Avg Position: $1.9M

Biggest Buyers

Institution	Net Bought	Current Position
R ROYCE & ASSOCIATES LLC Institution	+$1.1M +26.8K shares	$4.1M 103.3K shares
Siena Capital Management, LLC Hedge Fund•Sector	+$817.4K +20.5K shares	$817.4K 20.5K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	+$454.5K +11.4K shares	$454.5K 11.4K shares
GOLDMAN SACHS GROUP INC Institution	+$381.9K +9.6K shares	$381.9K 9.6K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$317.0K +7.9K shares	$588.9K 14.8K shares
Q Quadrature Capital Ltd Institution	+$298.5K +7.5K shares	$298.5K 7.5K shares
T TCW GROUP INC Institution	+$139.7K +3.5K shares	$6.1M 152.0K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$133.0K +3.3K shares	$1.1M 26.3K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$131.7K +3.3K shares	$610.8K 15.3K shares
J JANE STREET GROUP, LLC Institution	+$96.3K +2.4K shares	$515.4K 12.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
ALLIANCEBERNSTEIN L.P. Long Only Manager	−$2.0M −49.2K shares	$5.8M 144.4K shares
B BlackRock, Inc. Institution	−$515.8K −12.9K shares	$17.6M 439.9K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$412.8K −10.5K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$372.1K −9.3K shares	$622.7K 15.6K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	−$314.4K −8.0K shares	Sold Off 0 shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$292.8K −7.3K shares	$6.2M 156.0K shares
Marshall Wace LLP Institution	−$261.8K −6.6K shares	Sold Off 0 shares
Pacific Ridge Capital Partners, LLC Long Only Manager	−$196.6K −4.9K shares	$8.5M 213.6K shares
VANGUARD GROUP INC Institution	−$193.5K −4.8K shares	$15.8M 395.0K shares
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	−$188.3K −4.7K shares	$3.3M 81.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited FSBW in Q3 2025

New Positions: 7
New Value: $1.3M
Exited Positions: 4
Exited Value: $1.0M

New Positions

Institution	Position Value
Siena Capital Management, LLC Hedge Fund•Sector	$817.4K 20.5K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$454.5K 11.4K shares
R Root Financial Partners, LLC RIA/Wealth	$49.4K 1.2K shares
O Optiver Holding B.V. Institution	$5.0K 126.0 shares
V Versant Capital Management, Inc RIA/Wealth	$200.0 5.0 shares
Sunbelt Securities, Inc. RIA/Wealth	$120.0 3.0 shares
ROTHSCHILD INVESTMENT LLC RIA/Wealth	$80.0 2.0 shares

Exited Positions

Institution	Previous Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$412.8K 10.5K shares
$DEUTSCHE BANK AG\ logo$ DEUTSCHE BANK AG\ Institution	$314.4K 8.0K shares
Marshall Wace LLP Institution	$261.8K 6.6K shares
K Knott David M Jr Institution	$57.5K 1.5K shares

Options Activity

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

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with FSBW as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
D De Lisle Partners LLP Institution	-	1.89% $15.4M	5.07% 385.5K shares	Q1 2024 Held for 1y 8m	$815.6M
Pacific Ridge Capital Partners, LLC Long Only Manager	Mark Daniel Cooper President	1.85% $8.5M	2.81% 213.6K shares	Q1 2016 Held for 9y 8m	$460.6M
S Stilwell Value LLC Hedge Fund•Activist	Ravi Bipin Shah CFO	1.11% $3.1M	1.03% 78.0K shares	Q1 2015 Held for 10y 8m	$280.8M
Angel Oak Capital Advisors, LLC Long Only Manager	Manmohan Singh CFO	0.56% $718.6K	0.24% 18.0K shares	Q4 2024 Held for 11 months	$127.6M
Siena Capital Management, LLC Hedge Fund•Sector	Daniel Kanter President	0.49% $817.4K	0.27% 20.5K shares	Q3 2025 Held for 2 months	$167.0M
Aristides Capital LLC Real Assets	Marc Jeffrey Rowan CEO	0.38% $1.3M	0.42% 31.7K shares	Q2 2021 Held for 4y 5m	$331.2M
CALDWELL SUTTER CAPITAL, INC. RIA/Wealth	John Caldwell Helmer Founder	0.26% $604.5K	0.20% 15.1K shares	Q4 2022 Held for 2y 11m	$234.1M
A Agate Pass Investment Management, LLC RIA/Wealth	Daniel Leverett Rutter Director	0.08% $209.2K	0.07% 5.2K shares	Q2 2024 Held for 1y 5m	$262.8M
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	John Noland Ryan Montgomery CEO	0.07% $3.3M	1.07% 81.6K shares	Q2 2022 Held for 3y 5m	$4.7B
T TCW GROUP INC Institution	-	0.05% $6.1M	2.00% 152.0K shares	Q4 2016 Held for 8y 11m	$11.4B

Hedge Fund Spotlight

Discover hedge funds investing in FSBW

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in FS Bancorp, Inc.

Market Value: $588.9K
Shares Held: 14.8K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

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