Fourthstone LLC
Long book
$590.0M
Q1 2026
Positions
62
Top-10 weight
46%
concentration
Last quarter
+13.9%
SPY +14.8%
Turnover
37%
of book per quarter
Strategy in plain words
auto-generated from filingsFourthstone LLC is a diversified fundamental manager, specialised in financials (100% of the long book), running a $590.0M US long book across 62 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: COLONY BANKCORP, CARTER BANKSHARES INC, COMMUNITY WEST BANCSHARES, AVIDBANK HOLDINGS INC, COASTAL SOUTH BANCSHARES INC.
Over the last 9 quarters its long book ran on average 1.7pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-0.7%
Q2 2024
+17.1%
Q3 2024
+7.5%
Q4 2024
-8.0%
Q1 2025
+2.9%
Q2 2025
+8.9%
Q3 2025
+7.9%
Q4 2025
+6.2%
Q1 2026
+13.9%
Sector allocation
Financials 95%
Other 5%
Long book by quarter
What does Fourthstone LLC own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CBAN COLONY BANKCORP | Financials | 2.1M | $41.2M | 7.0% | +20.7% |
| CARE CARTER BANKSHARES INC | Financials | 1.5M | $35.0M | 5.9% | +21.5% |
| CWBC COMMUNITY WEST BANCSHARES | Financials | 1.4M | $31.7M | 5.4% | +3.9% |
| AVBH AVIDBANK HOLDINGS INC | Financials | 1.0M | $29.8M | 5.1% | -4.1% |
| COSO COASTAL SOUTH BANCSHARES INC | Financials | 1.1M | $27.1M | 4.6% | +14.7% |
| ISTR INVESTAR HOLDING CORP | Financials | 827.4K | $22.6M | 3.8% | +18.9% |
| MRBK MERIDIAN CORP | Financials | 1.2M | $22.3M | 3.8% | +4.8% |
| FXNC FIRST NATIONAL CORP/VA | Financials | 774.1K | $20.8M | 3.5% | -12.9% |
| PKBK PARKE BANCORP INC | Financials | 700.3K | $19.9M | 3.4% | +12.8% |
| FVCB FVCBANKCORP INC | Financials | 1.3M | $19.4M | 3.3% | +17.1% |
| ATLO AMES NATIONAL CORP | Financials | 683.3K | $19.3M | 3.3% | +55.7% |
| EFSI EAGLE FINANCIAL SERVICES INC | Financials | 532.2K | $18.6M | 3.2% | +17.2% |
| CFBK CF BANKSHARES INC | Financials | 639.4K | $17.8M | 3.0% | +0.8% |
| FCCO FIRST COMMUNITY CORP | Financials | 595.5K | $17.4M | 3.0% | +10.9% |
| BHRB BURKE & HERBERT FINANCIAL SE | Financials | 246.4K | $15.3M | 2.6% | +239.1% |
| LNKB LINKBANCORP INC | — | 1.8M | $14.9M | 2.5% | +67.0% |
| OVLY OAK VALLEY BANCORP | Financials | 411.2K | $13.3M | 2.3% | +34.6% |
| MPB MID PENN BANCORP INC | Financials | 367.4K | $11.8M | 2.0% | +26.1% |
| EBMT EAGLE BANCORP MONTANA INC | Financials | 552.0K | $11.4M | 1.9% | +61.0% |
| HNVR HANOVER BANCORP INC | Financials | 521.7K | $11.3M | 1.9% | +1.0% |
| NKSH NATIONAL BANKSHARES INC/VA | Financials | 288.6K | $10.5M | 1.8% | +27.6% |
| MCB METROPOLITAN BANK HOLDING CO | Financials | 125.6K | $10.5M | 1.8% | New |
| FRST PRIMIS FINANCIAL CORP | Financials | 731.4K | $9.7M | 1.6% | -21.6% |
| OVBC OHIO VALLEY BANC CORP | Financials | 219.7K | $9.6M | 1.6% | +10.5% |
| TSBK TIMBERLAND BANCORP INC | Financials | 230.3K | $9.1M | 1.5% | +110.0% |
| MNSB MAINSTREET BANCSHARES INC | Financials | 384.8K | $8.5M | 1.4% | -49.9% |
| FNWB FIRST NORTHWEST BANCORP | Financials | 924.3K | $8.0M | 1.4% | -1.6% |
| BOTJ BANK OF THE JAMES FINANCIAL | Financials | 385.5K | $7.9M | 1.3% | +19.8% |
| SHBI SHORE BANCSHARES INC | Financials | 421.5K | $7.9M | 1.3% | -54.1% |
| PEBK PEOPLES BANCORP OF NC | Financials | 194.9K | $7.6M | 1.3% | +26.1% |
| PLBC PLUMAS BANCORP | Financials | 148.2K | $7.2M | 1.2% | +44.4% |
| TFC TRUIST FINANCIAL CORP | Financials | 153.1K | $7.0M | 1.2% | New |
| UBFO UNITED SECURITY BANCSHARE/CA | — | 664.3K | $7.0M | 1.2% | +4.1% |
| TOWN TOWNE BANK | — | 200.9K | $6.8M | 1.1% | New |
| BFST BUSINESS FIRST BANCSHARES | Financials | 231.1K | $6.2M | 1.1% | +74.8% |
| PROV PROVIDENT FINANCIAL HLDGS | Financials | 365.6K | $5.9M | 1.0% | +3.8% |
| EGBN EAGLE BANCORP INC | Financials | 212.3K | $5.3M | 0.9% | New |
| WSBF WATERSTONE FINANCIAL INC | Financials | 291.2K | $5.3M | 0.9% | +45.8% |
| CCNE CNB FINANCIAL CORP/PA | Financials | 163.5K | $4.7M | 0.8% | -41.5% |
| PB PROSPERITY BANCSHARES INC | Financials | 69.5K | $4.7M | 0.8% | New |
| PNFP PINNACLE FINANCIAL PARTNERS | Financials | 25.6K | $2.2M | 0.4% | New |
| JMSB JOHN MARSHALL BANCORP INC | Financials | 108.2K | $2.2M | 0.4% | -3.3% |
| WNEB WESTERN NEW ENGLAND BANCORP | Financials | 129.4K | $1.7M | 0.3% | -59.6% |
| BPRN PRINCETON BANCORP INC | Financials | 42.5K | $1.4M | 0.2% | +12.4% |
| UMBF UMB FINANCIAL CORP | Financials | 10.5K | $1.2M | 0.2% | New |
| SSB SOUTHSTATE BANK CORP | Financials | 12.6K | $1.2M | 0.2% | New |
| HBAN HUNTINGTON BANCSHARES INC | Financials | 70.1K | $1.1M | 0.2% | New |
| BMRC BANK OF MARIN BANCORP/CA | Financials | 41.8K | $1.1M | 0.2% | +359.7% |
| ONB OLD NATIONAL BANCORP | Financials | 47.0K | $1.0M | 0.2% | New |
| WSBC WESBANCO INC | Financials | 30.1K | $1.0M | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 62 | $590.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 54 | $534.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 83 | $557.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 98 | $509.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 75 | $403.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 68 | $512.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 66 | $448.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 46 | $314.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 29 | $307.0M | canonical | SEC ↗ |