FULLER & THALER ASSET MANAGEMENT INC
Q1 2025 Form 13-F

SAN MATEO, CALIFORNIA
CIK 0001082327 · CRD 107033 · SEC-registered investment adviser
Holdings reported by PERSONAL CFO SOLUTIONS LLC since Q1 2026 , EXCHANGE TRADED CONCEPTS LLC since Q3 2026
$25.7B Reported Value Total

FULLER & THALER ASSET MANAGEMENT INC reports 4,709 total accounts under management (AUM). There are 4,709 discretionary accounts valued at $27,112,656,097, and 0 non-discretionary accounts.

Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
SEC Registered Discretionary Manager
Private funds (Form ADV)
1 fund · $21.6M gross asset value
Hedge Fund: $21.6M
Source: Form ADV filed 2026-03-30
Reported value
$25.7B
Quarter over quarter
-6.5%
Holdings
592
Top-10 concentration
13.9%

Filing Structure

Reports holdings for

Holdings reported by

Key People

Form ADV owners & control persons
Raife Brandon Giovinazzo
BOARD MEMBER/MANAGING PARTNER/PORTFOLIO MANAGER
David Michael Potter
BOARD MEMBER/PARTNER/PORTFOLIO MANAGER
Frederick William Stanske
BOARD MEMBER/PARTNER/PORTFOLIO MANAGER
Q4 2024
Q2 2025
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Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.

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Q1 2025 13F filing summary

Period of report March 31, 2025
Filed May 13, 2025
Form 13F-HR
Reported value $25.7B
Positions 592
Change in reported value -2.5%
New positions 50
Exited positions 66
Position turnover 17.6%
Top-10 concentration 13.9%

13F filings by quarter

Quarter Positions Value
Q2 2026 13F
Filed Aug 12, 2026
 504 $36.7B
Q1 2026 13F
Filed May 14, 2026
 497 $29.7B
Q4 2025 13F
Filed Feb 12, 2026
 498 $29.6B
Q3 2025 13F
Filed Nov 13, 2025
 494 $29.4B
Q2 2025 13F
Filed Aug 14, 2025
 607 $27.4B
Q1 2025 13F
Filed May 13, 2025
 592 $25.7B
Q4 2024 13F
Filed Feb 14, 2025
 603 $26.4B
Q3 2024 13F
Filed Nov 13, 2024
 567 $25.5B
Q2 2024 13F
Filed Aug 9, 2024
 561 $23.4B
Q1 2024 13F
Filed May 13, 2024
 544 $22.9B
Q4 2023 13F
Filed Feb 13, 2024
 522 $19.7B
Q3 2023 13F
Filed Nov 13, 2023
 517 $17.4B
Q2 2023 13F
Filed Aug 14, 2023
 504 $17.6B
Q1 2023 13F
Filed May 15, 2023
 512 $17.3B
Q4 2022 13F
Filed Feb 13, 2023
 505 $15.8B
Q3 2022 13F
Filed Nov 14, 2022
 465 $13.9B
Q2 2022 13F
Filed Aug 12, 2022
 482 $14.5B
Q1 2022 13F
Filed May 13, 2022
 474 $16.9B
Q4 2021 13F
Filed Feb 9, 2022
 533 $17.2B
Q3 2021 13F
Filed Nov 10, 2021
 518 $15.5B

33 earlier quarters on file — choose one from the quarter menu above.

Top 20 holdings · Q1 2025

# Holding Reported value % of portfolio
1 KEY Keycorp $487.9M 1.89%
2 CFG Citizens Financial Group Inc $425.3M 1.65%
3 ONB Old Natl Bancorp Ind $380.2M 1.48%
4 GPK Graphic Packaging Holding Co $379.4M 1.47%
5 PEAK Healthpeak Properties Inc $372.0M 1.44%
6 BERY Berry Global Group Inc $337.1M 1.31%
7 FNB Fnb Corp $326.8M 1.27%
8 AYI Acuity Inc Com $300.2M 1.17%
9 EXEL Exelixis Inc $287.8M 1.12%
10 DVN Devon Energy Corp $284.3M 1.1%
11 SAIC Science Applications Intl Corp $280.7M 1.09%
12 HRB H&R Block Inc $254.0M 0.99%
13 AGCO Agco Corp $253.8M 0.99%
14 ALSN Allison Transmission Holdings Inc $251.6M 0.98%
15 AXTA Axalta Coating Systems Ltd $240.5M 0.93%
16 AWI Armstrong World Industries Inc $239.0M 0.93%
17 KMPR Kemper Corp $237.4M 0.92%
18 UGI Ugi Corp $225.1M 0.87%
19 EME Emcor Group Inc $222.8M 0.87%
20 POR Portland Gen Elec Co New $217.0M 0.84%

Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.

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