[SCHEDULE 13G] Berkshire Hills Bancorp, Inc. SEC Filing
Fuller & Thaler Asset Management, Inc. reports beneficial ownership of 2,734,139.58 shares of Berkshire Hills Bancorp Inc. common stock, representing 5.90% of the class. The filer states it is a California investment adviser and holds sole voting power over 2,703,668.58 shares and sole dispositive power over 2,734,139.58 shares as investment adviser to certain clients. Fuller & Thaler says the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer; the filing clarifies that clients retain the right to receive dividends or sale proceeds.
- Disclosure of a material stake: The filer reports a 5.90% ownership position, meeting regulatory disclosure thresholds
- Clear voting and dispositive authority: The filing specifies sole voting power (2,703,668.58) and sole dispositive power (2,734,139.58), indicating direct portfolio control by the adviser
- Passive intent stated: The filer certifies the securities are held in the ordinary course of business and not to change or influence control
- None.
Insights
TL;DR: A 5.90% stake by an investment adviser is material and signals sizable institutional exposure without an expressed intent to seek control.
Fuller & Thaler's reported position of 2,734,139.58 shares equals 5.90% of Berkshire Hills Bancorp's common stock, which meets the regulatory threshold requiring disclosure. The filing classifies the filer as an investment adviser and shows nearly all disclosed shares are under sole voting and dispositive power, indicating direct portfolio control on behalf of advisory clients. The certification states the holdings are in the ordinary course of business and not intended to change control, which frames the position as passive from a control standpoint. For investors, a >5% institutional stake can affect liquidity and may influence market perceptions, but the filer does not declare activist intentions.
TL;DR: Ownership surpasses 5% disclosure threshold but the filer asserts no control intent; governance impact appears limited based on the filing.
The Schedule 13G identifies Fuller & Thaler as an investment adviser with sole voting power over 2,703,668.58 shares and sole dispositive power over 2,734,139.58 shares, representing 5.90% of the class. Because the filer uses the Schedule 13G format and certifies no intent to influence control, this suggests a passive investor profile rather than an activist posture. From a governance perspective, the stake is large enough to warrant monitoring for potential engagement, but the filing contains no statements about nominations, proposals, or coordinated action that would indicate near-term governance changes.