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Fourthstone LLC
Fourthstone LLC is an SEC-registered investment adviser based in St. Louis, Missouri. Founded in 2013, the firm is led by L. Phillip Stone, IV as the Managing Member and majority owner. The firm serves institutional clients and private investors, actively managing dedicated investment strategies. Fourthstone specializes in niche, research-driven asset management, employing a team of around a dozen professionals.
Investment Strategy
Fourthstone LLC focuses on active management of investments primarily in the financial services sector, especially regional and community banks and related financial institutions. The firm conducts intensive, bottom-up fundamental research to identify undervalued companies, often taking activist positions to engage constructively with management. Their philosophy emphasizes identifying mispriced securities based on deep sector expertise and hands-on due diligence to deliver outperformance over time.
Latest 13F Filing Activity
Fourthstone LLC filed their most recent 13F report on Jun 30, 2025 disclosing 97 equity positions with a total 13F market value of $510M. The fund increased holdings in First CMNTY Corp. S C, CF Bankshares Inc., Atlantic Un Bankshares Corp. among other positions. Fourthstone LLC reduced exposure to Orrstown Finl SVCS Inc., Old PT Financial Corporation, Choiceone Finl SVCS Inc. among others.
Top Holdings
Equity Positions (97)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
O ORRF | ORRSTOWN FINL SVCS INC | 7.86% | $40.1M | 1,258,740 | $32.72 | $31.83 | -$12.7M |
B BCAL | CALIFORNIA BANCORP | 6.77% | $34.5M | 2,189,671 | $14.34 | $15.76 | -$14.3K |
C COFS | CHOICEONE FINL SVCS INC | 6.44% | $32.8M | 1,142,959 | $29.95 | $28.70 | -$6.2M |
C CWBC | COMMUNITY WEST BANCSHARES NE | 6.02% | $30.7M | 1,573,924 | $18.10 | $19.51 | -$2.5M |
F FISI | FINANCIAL INSTNS INC | 4.27% | $21.7M | 846,661 | $26.05 | $25.68 | +$8.1M |
Industry Allocation
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