Managers / Q4 2019 · view latest →

FSI GROUP, LLC

CIK 0001041241 · 441 VINE STREET, SUITE 1300, CINCINNATI, OH, 45202 · 5132416166

Reported Value

$78M

Q4 2019

Positions

Filings on Record

2019–present window

Filed

Jan 29, 2020

original filing

Summary

Fsi Group, LLC reported $78M in U.S.-listed holdings across 37 positions for Q4 2019.

Its largest position, STT, represents 10.2% of the portfolio.

Compared with Q3 2019, the fund opened 7 new positions and exited 3.

Portfolio Metrics

Turnover

+41.9%

vs prior filed quarter

Top-10 Concentration

+80.0%

share of reported value

Largest Position

+10.2%

State Str

New / Exited

7 / 3

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

Common Stock · 94.5% · $74M
Other · 5.5% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
STT STATE STR CORP	NEW	+100.7K	100.7K	+$8M	$8M
BNY BANK NEW YORK MELLON CORP	NEW	+144.5K	144.5K	+$7M	$7M
AXA EQUITABLE HLDGS INC	NEW	+200.0K	200.0K	+$5M	$5M
ATHENE HLDG LTD	NEW	+85.0K	85.0K	+$4M	$4M
IVZ INVESCO LTD	NEW	+200.0K	200.0K	+$4M	$4M
SLM SLM CORP	NEW	+300.0K	300.0K	+$3M	$3M
ETRA E TRADE FINANCIAL CORP	NEW	+10.0K	10.0K	+$454,000	$454,000
BLACKROCK INC	SOLD OUT	−11.7K	0	−$5M	$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2019

37 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	STT STATE STR CORP history →	COM	10.22%	$8M	100.7K
2	CFG CITIZENS FINL GROUP INC history →	COM	9.71%	$8M	186.5K
3	GS GOLDMAN SACHS GROUP INC history →	COM	9.49%	$7M	32.2K
4	BNY BANK NEW YORK MELLON CORP history →	COM	9.33%	$7M	144.5K
5	C CITIGROUP INC history →	COM NEW	8.91%	$7M	87.0K
6	AXP AMERICAN EXPRESS CO history →	COM	8.62%	$7M	54.0K
7	BAC BANK AMER CORP history →	COM	7.59%	$6M	168.0K
8	AXA EQUITABLE HLDGS INC	COM	6.36%	$5M	200.0K
9	ATHENE HLDG LTD	CL A	5.13%	$4M	85.0K
10	IVZ INVESCO LTD history →	SHS	4.61%	$4M	200.0K
11	RPAY REPAY HLDGS CORP history →	COM CL A	3.73%	$3M	198.5K
12	SLM SLM CORP history →	COM	3.43%	$3M	300.0K
13	SOUTHERN NATL BANCORP OF VA	COM	2.38%	$2M	113.4K
14	WAL WESTERN ALLIANCE BANCORP	COM	0.74%	$578,000	10.1K
15	KEY KEYCORP NEW	COM	0.70%	$546,000	27.0K
16	FITB FIFTH THIRD BANCORP	COM	0.68%	$527,000	17.1K
17	FHN FIRST HORIZON NATL CORP	COM	0.67%	$520,000	31.4K
18	JPM JPMORGAN CHASE & CO	COM	0.62%	$483,000	3.5K
19	SYNOVUS FINL CORP	COM NEW	0.61%	$478,000	12.2K
20	SVB FINL GROUP	COM	0.61%	$477,000	1.9K
21	WFC WELLS FARGO CO NEW	COM	0.59%	$462,000	8.6K
22	UCB UNITED CMNTY BKS BLAIRSVLE G	COM	0.59%	$459,000	14.9K
23	ETRA E TRADE FINANCIAL CORP	COM NEW	0.58%	$454,000	10.0K
24	EWBC EAST WEST BANCORP INC	COM	0.56%	$438,000	9.0K
25	CMA COMERICA INC	COM	0.50%	$393,000	5.5K
26	COF CAPITAL ONE FINL CORP	COM	0.46%	$356,000	3.5K
27	ZION ZIONS BANCORPORATION N A	COM	0.43%	$339,000	6.5K
28	OSBC OLD SECOND BANCORP INC ILL	COM	0.39%	$306,000	22.7K
29	PINNACLE FINL PARTNERS INC	COM	0.33%	$259,000	4.0K
30	STL STERLING BANCORP DEL	COM	0.31%	$245,000	11.6K
31	FBNC FIRST MIDWEST BANCORP DEL	COM	0.30%	$237,000	10.3K
32	BANR BANNER CORP	COM NEW	0.30%	$232,000	4.1K
33	HTB HOMETRUST BANCSHARES INC	COM	0.24%	$186,000	6.9K
34	SHBI SHORE BANCSHARES INC	COM	0.15%	$117,000	6.7K
35	RF REGIONS FINL CORP NEW	COM	0.05%	$38,000	2.2K
36	PACWEST BANCORP DEL	COM	0.04%	$33,000	864
37	FRBKQ REPUBLIC FIRST BANCORP INC	COM	0.01%	$10,000	2.5K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q3 2020	Under review	1	Oct 16, 2020	13F-HR	changes · EDGAR ↗
Q2 2020	$25M	6	Aug 5, 2020	13F-HR	changes · EDGAR ↗
Q1 2020	$4M	22	Apr 23, 2020	13F-HR	changes · EDGAR ↗
Q4 2019	$78M	37	Jan 29, 2020	13F-HR	changes · EDGAR ↗
Q3 2019	$72M	33	Oct 23, 2019	13F-HR	changes · EDGAR ↗
Q2 2019	$84M	30	Jul 25, 2019	13F-HR	changes · EDGAR ↗
Q1 2019	$93M	33	May 14, 2019	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.