Fuller & Thaler Asset Management, Inc.
Fuller & Thaler Asset Management, Inc. is a 100% employee-owned asset management firm headquartered in San Mateo, California. Founded in 1993, the firm specializes in providing U.S. equity investment management services with a unique focus on behavioral finance, serving institutional clients such as pension funds, corporations, and intermediaries. As of 2025, it employs approximately 27 people.
Investment Strategy
Fuller & Thaler applies principles from behavioral finance to identify and exploit market inefficiencies in U.S. equity markets. The firm concentrates on long-only investment strategies, emphasizing the systematic application of behavioral insights rather than purely quantitative or traditional fundamental approaches. Strategies are customized to client requirements, such as investment restrictions or expanded security universes, aiming to provide measurable value by overcoming common behavioral biases in investment decision-making.
Latest 13F Filing Activity
Fuller & Thaler Asset Management, Inc. filed their most recent 13F report on Jun 30, 2025 disclosing 593 equity positions with a total 13F market value of $27B. The fund increased holdings in Amcor PLC, Hasbro Inc., Sterling Contruction Inc. among other positions. Fuller & Thaler Asset Management, Inc. reduced exposure to Berry Global Group Inc., Acuity Inc. Com, First Citizens Bancshares Inc. NC CL among others.
Top Holdings
Equity Positions (593)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
K KEY | Keycorp | 2.12% | $581.6M | 33,388,615 | $13.42 | $17.42 | +$93.7M |
C CFG | Citizens Financial Group Inc | 1.76% | $482.9M | 10,792,138 | $34.53 | $44.75 | +$57.7M |
D DOC | Healthpeak Properties Inc | 1.48% | $405.1M | 23,136,464 | $18.53 | $17.51 | +$33.1M |
E EXEL | Exelixis Inc | 1.41% | $386.8M | 8,775,572 | $27.54 | $44.08 | +$99.0M |
G GPK | Graphic Packaging Holding Co | 1.39% | $379.7M | 18,019,462 | $18.82 | $21.07 | +$248.9K |
Industry Allocation
Investment Team (7)
| Name | Role | Location | |
|---|---|---|---|
 | Portfolio Manager | San Francisco, CA , United States | |
 | Partner | CA , United States | |
 | Trading | CA , United States | |
 | Investment Analyst | CA , United States | |
 | Partner, Portfolio Manager | San Mateo, CA , United States | |
 | Associate Portfolio Manager | CA , United States | |
Y Yining Tung | Investment Analyst and Head of Risk Management | United States |