FIVE FIVE BELOW, INC
Executive Summary
In Q3 2025, 8 institutional buyers accumulated $309.3M in FIVE, while 6 sellers reduced holdings by $308.6M — near-equal dollar flows but starkly different conviction patterns. Buyers were dominated by multi-asset managers (Wellington doubled to $131.2M, Invesco quintupled to $65.9M) while sellers were quant-heavy (D.E. Shaw trimmed $57.2M, Two Sigma cut $61.9M) plus full exits by Norges Bank ($110.8M) and Capital Group ($41.9M). The mixed net reflects competing theses: active asset managers see value post-selloff, while systematic/sovereign funds are reducing risk into FIVE's recent weakness.
Key Financial Metrics
Institutional Positions
Net institutional flow: $748.3K
▲ Buyers (8)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Wells Fargo | DOUBLED | +108.2% | $5.4M | $3.2M |
| Invesco | DOUBLED | +336.2% | $65.9M | $53.1M |
| Morgan Stanley | ADD | +65.8% | $140.6M | $68.7M |
| Point72 | ADD | +81.3% | $17.6M | $9.3M |
| Wellington Management Group | DOUBLED | +149% | $131.2M | $86.5M |
| Barclays | ADD | +45.8% | $69.6M | $69.5M |
| Nuveen | ADD | +32.7% | $18.9M | $6.8M |
| Amundi | DOUBLED | +146.4% | $18.5M | $12.1M |
▼ Sellers (6)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| D.E. Shaw | TRIM | -28% | $378.4M | -$57.2M |
| Capital Group | EXIT | -100% | $41.9M | -$41.9M |
| Norges Bank | EXIT | -100% | $110.8M | -$110.8M |
| RenTech | TRIM | -59.2% | $55.1M | -$28.6M |
| Two Sigma | TRIM | -57.6% | $123.8M | -$61.9M |
| Barclays (sell side) | TRIM | -37.5% | $31.2M | -$8.2M |
Actionable Insight
The Norges Bank full exit ($110.8M) and Capital Group exit ($41.9M) are bearish signals that may have already been absorbed by the Q3 2025 disclosure lag. However, Wellington, Invesco, and Morgan Stanley adding aggressively suggests price-insensitive long-term capital stepping in. Watch next earnings for comparable-store sales and margin trajectory — the cluster battle is unresolved.
Key Facts
- 8 institutional buyers added $309.3M in new FIVE positions; 6 sellers reduced by $308.6M
- Norges Bank fully exited its $110.8M position; Capital Group exited $41.9M
- Wellington Management doubled its stake to $131.2M (now a top-10 holder inferred)
- Invesco quintupled from $12.8M to $65.9M; Morgan Stanley added 65.8% to $140.6M
- Quant funds D.E. Shaw, Two Sigma, and Renaissance trimmed a combined $147.6M
- Asset managers (Wellington, Barclays, Amundi, Nuveen) were net aggressive buyers
Financial Impact
Total institutional buying of $309.3M vs total selling of $308.6M — net flows essentially flat, but composition shifted from active quant to passive/asset-manager holders
Risk Factors
- Quant selling pressure could resume if FIVE continues to disappoint on comps
- Norges Bank and Capital Group full exits may presage broader institutional flight
- 13F data is 45+ days stale — positions may have already been reversed
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-FIVE-2025-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
3d ago
|
Institutional Cluster
| $198.97 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 3, 2026
11d ago
|
8-K
| $191.92 $189.19 | ▼ −1.42% | ▲ +1.18% | — |
|
Jun 3, 2026
11d ago
|
Press Release
| $191.92 $189.19 | ▼ −1.42% | ▲ +1.18% | — |
|
May 20, 2026
25d ago
|
Press Release
| $218.42 $219.14 | ▲ +0.33% | ▼ −0.12% | — |
|
Mar 20, 2026
12w ago
|
Insider Cluster
| $227.24 $229.23 | ▲ +0.88% | ▼ −0.23% | — |
|
Mar 20, 2026
12w ago
|
Insider Cluster
| $227.24 $229.23 | ▼ −0.88% | ▲ +0.23% | — |
|
Mar 18, 2026
12w ago
|
Press Release
| $233.75 $227.24 | ▼ −2.79% | ▼ −1.04% | — |
|
Mar 4, 2026
14w ago
|
Press Release
| $220.14 $215.10 | ▼ −2.29% | ▼ −0.98% | — |
|
Feb 28, 2026
15w ago
|
Institutional Cluster
| $222.69 $220.33 | ▼ −1.06% | ▼ −0.15% | — |
US Market Status
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