Norwood Financial

NWFL • NASDAQ

Norwood Financial is a banks - regional company in the financial services sector on NASDAQ, led by James O. Donnelly, with a market cap of $277.6M. As of Q3 2025, 36% of shares are held by 86 institutional investors, with WELLINGTON MANAGEMENT CO LLP as the largest holder at 6.85%.

President and Chief Executive OfficerJames O. Donnelly

Market Cap$277.6M

Banks - Regional

Financial Services

Employees265.0

Websitewayne.bank

Country

United States of America

Overview

Overview of institutional ownership in NWFL as of Q3 2025 with a market cap of $235.4M

All Institutions

Institutions: 86
Value Held: $85.8M
Shares Held: 3.4M
Avg Position: $997.1K
Median Position: $155.8K

Hedge Funds

Hedge Funds: 8
Value Held: $5.5M
Shares Held: 216.9K
Avg Position: $689.3K
Median Position: $341.1K

Ownership Breakdown

Institutional (non-HF)

34.08%

$80.2M

Hedge Funds

2.34%

$5.5M

Retail & Other

63.58%

$149.7M

Based on market cap of $235.4M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NWFL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$16.1M 0.00% of portfolio	6.85% 634.6K shares	Q4 2024 Held for 11 months	$571.21B
B BlackRock, Inc. Institution	-	$14.6M 0.00% of portfolio	6.20% 574.2K shares	Q1 2017 Held for 8y 8m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$11.2M 0.00% of portfolio	4.75% 440.0K shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$5.1M 0.00% of portfolio	2.17% 201.0K shares	Q4 2016 Held for 8y 11m	$1.57T
Cornerstone Wealth Group, LLC RIA/Wealth	Craig Alan Rubrecht CEO	$4.7M 0.32% of portfolio	1.99% 184.1K shares	Q3 2025 Held for 2 months	$1.5B
M MANUFACTURERES LIFE INSURANCE CO Institution	-	$4.5M 0.00% of portfolio	1.92% 177.5K shares	Q4 2024 Held for 11 months	$120.17B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$3.4M 0.00% of portfolio	1.44% 133.3K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$3.1M 0.00% of portfolio	1.32% 122.5K shares	Q2 2017 Held for 8y 5m	$2.88T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$2.3M 0.00% of portfolio	1.00% 92.4K shares	Q4 2024 Held for 11 months	$310.43B
Fourthstone LLC Hedge Fund•Long/Short	Amy Morris Stone CEO	$2.1M 0.38% of portfolio	0.90% 83.8K shares	Q2 2025 Held for 5 months	$557.6M

Net Capital Flow

Institutional buying and selling activity for NWFL in Q3 2025

Traded: +$8.5M
Buyers: 44
Sellers: 26
Total Bought: +$11.8M
Total Sold: −$3.3M
Avg Position: $942.4K

Biggest Buyers

Institution	Net Bought	Current Position
Cornerstone Wealth Group, LLC RIA/Wealth	+$4.7M +184.1K shares	$4.7M 184.1K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$2.0M +79.4K shares	$16.1M 634.6K shares
Fourthstone LLC Hedge Fund•Long/Short	+$1.6M +64.0K shares	$2.1M 83.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$604.9K +23.8K shares	$604.9K 23.8K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$334.3K +13.2K shares	$334.3K 13.2K shares
GOLDMAN SACHS GROUP INC Institution	+$293.2K +11.5K shares	$293.2K 11.5K shares
Q Quadrature Capital Ltd Institution	+$292.4K +11.5K shares	$292.4K 11.5K shares
A Alliance Wealth Advisors, LLC RIA/Wealth	+$288.7K +11.4K shares	$288.7K 11.4K shares
Marshall Wace LLP Institution	+$258.4K +10.2K shares	$897.7K 35.3K shares
Bulldog Investors, LLC Hedge Fund•Activist	+$237.2K +9.3K shares	$237.2K 9.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
JACOBS ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	−$1.3M −50.7K shares	Sold Off 0 shares
VANGUARD GROUP INC Institution	−$387.3K −15.2K shares	$11.2M 440.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$310.0K −12.0K shares	Sold Off 0 shares
F Fisher Asset Management, LLC Institution	−$304.6K −11.8K shares	Sold Off 0 shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	−$261.8K −10.2K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$163.0K −6.4K shares	$357.8K 14.1K shares
B BlackRock, Inc. Institution	−$157.1K −6.2K shares	$14.6M 574.2K shares
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	−$83.9K −3.3K shares	$1.1M 44.2K shares
BARCLAYS PLC Institution	−$63.6K −2.5K shares	$308.5K 12.1K shares
T Tower Research Capital LLC Institution	−$30.7K −1.2K shares	$14.3K 564.0 shares

Entry and Exit Activity

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

New Positions: 11
New Value: $5.9M
Exited Positions: 5
Exited Value: $2.2M

New Positions

Institution	Position Value
Cornerstone Wealth Group, LLC RIA/Wealth	$4.7M 184.1K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	$334.3K 13.2K shares
Q Quadrature Capital Ltd Institution	$292.4K 11.5K shares
A Alliance Wealth Advisors, LLC RIA/Wealth	$288.7K 11.4K shares
Bulldog Investors, LLC Hedge Fund•Activist	$237.2K 9.3K shares
Triumph Capital Management RIA/Wealth	$12.7K 500.0 shares
SRS Capital Advisors, Inc. RIA/Wealth	$10.7K 420.0 shares
A Advisory Services Network, LLC RIA/Wealth	$7.6K 300.0 shares
O Optiver Holding B.V. Institution	$3.3K 128.0 shares
Hartland & Co., LLC RIA/Wealth	$26.0 1.0 shares

Exited Positions

Institution	Previous Position
JACOBS ASSET MANAGEMENT, LLC Hedge Fund•Long/Short	$1.3M 50.7K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$310.0K 12.0K shares
F Fisher Asset Management, LLC Institution	$304.6K 11.8K shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	$261.8K 10.2K shares
Riggs Asset Managment Co. Inc. RIA/Wealth	$9.7K 375.0 shares

Options Activity

Institutions with the largest Call and Put options positions in NWFL 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 NWFL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Fourthstone LLC Hedge Fund•Long/Short	Amy Morris Stone CEO	0.38% $2.1M	0.90% 83.8K shares	Q2 2025 Held for 5 months	$557.6M
Cornerstone Wealth Group, LLC RIA/Wealth	Craig Alan Rubrecht CEO	0.32% $4.7M	1.99% 184.1K shares	Q3 2025 Held for 2 months	$1.5B
R RAFFLES ASSOCIATES LP Hedge Fund•Value	Paul H. O'Leary Managing Partner	0.31% $327.0K	0.14% 12.9K shares	Q4 2024 Held for 11 months	$103.8M
EAGLE WEALTH STRATEGIES LLC RIA/Wealth	Christopher Thomas Tully President	0.30% $598.1K	0.25% 23.5K shares	Q4 2023 Held for 1y 11m	$201.0M
M Minerva Advisors LLC Hedge Fund•Value	David Peter Cohen President	0.22% $347.8K	0.15% 13.7K shares	≤ Q2 2013 Held for 12y 5m+	$157.5M
A Alliance Wealth Advisors, LLC RIA/Wealth	Patrick Neal Clark Managing Partner	0.15% $288.7K	0.12% 11.4K shares	Q3 2025 Held for 2 months	$198.6M
EMERALD MUTUAL FUND ADVISERS TRUST Long Only Manager	Stacey Lynn Sears President	0.06% $1.1M	0.48% 44.2K shares	Q4 2024 Held for 11 months	$1.9B
Bulldog Investors, LLC Hedge Fund•Activist	Phillip Franklin Goldstein Managing Partner	0.06% $237.2K	0.10% 9.3K shares	Q3 2025 Held for 2 months	$409.9M
JOHN G ULLMAN & ASSOCIATES INC RIA/Wealth	John Guy Ullman CEO	0.04% $320.3K	0.14% 12.6K shares	Q4 2023 Held for 1y 11m	$743.1M
PEOPLES FINANCIAL SERVICES CORP. Institution	Gerard A. Champi CEO	0.04% $90.3K	0.04% 3.6K shares	Q4 2013 Held for 11y 11m	$221.4M

Hedge Fund Spotlight

Discover hedge funds investing in NWFL

RAFFLES ASSOCIATES LP

Hedge Fund • Value

Portfolio ManagerPaul H. O'Leary

Portfolio Value: $103.8M
Positions: 48
Last Reported: Q3 2025

Sector Allocation

Position in Norwood Financial

Market Value: $327.0K
Shares Held: 12.9K
Portfolio Weight: 0.31%
Owned Since: 2024-Q4

Top Holding	Sector	Market Value	Weight
1 Southern Missouri Bancorp SMBC	Banks - Regional Financial Services	$12.0M	11.60%
2 Lineage Cell Therapeutics LCTX	Biotechnology Healthcare	$9.1M	8.77%
3 Ivanhoe Electric IE	Software - Application Technology	$8.1M	7.83%