[SCHEDULE 13G/A] Blue Ridge Bankshares, Inc. SEC Filing
AllianceBernstein L.P. reports beneficial ownership of 4,528,592 shares of Blue Ridge Bankshares, representing 5.0% of the outstanding common stock. The filing states these shares are held solely for investment purposes in discretionary client accounts, with AllianceBernstein claiming sole voting and dispositive power over the reported shares. The filing also notes AllianceBernstein is a majority-owned subsidiary of Equitable Holdings but operates under independent management and reports beneficial ownership separately from Equitable.
This disclosure is a passive ownership report under Schedule 13G/A and includes a certification that the securities were not acquired to influence control of the issuer.
- Institutional ownership disclosed: AllianceBernstein beneficially owns 4,528,592 shares (5.0%), demonstrating institutional interest in BRBS.
- Passive intent certified: Filing is submitted on Schedule 13G/A with a certification that the stake was acquired and is held in the ordinary course of business and not to influence control.
- None.
Insights
TL;DR: An institutional manager holds a disclosed 5.0% stake, reported as passive and held in discretionary accounts.
The filing shows AllianceBernstein L.P. beneficially owns 4,528,592 shares (5.0%) with sole voting and dispositive power, and that the position was acquired for client discretionary investment accounts. Because the filing is a Schedule 13G/A with a certified passive intent, the disclosure signals institutional interest without an expressed intent to influence corporate control. For investors, the key facts are the size of the stake and the adviser’s control over voting and disposition of the shares.
TL;DR: A 5.0% beneficial holding is reportable and material for disclosure but the filer asserts passive intent.
The statement confirms sole voting and dispositive power by AllianceBernstein over the reported shares and includes the required certification that the securities were not acquired to change or influence control. The filing also clarifies parent-subsidiary reporting arrangements, noting AllianceBernstein’s operational independence from its majority owner. From a governance perspective, this is a material ownership disclosure that nevertheless characterizes the position as passive rather than an activist or control-seeking stake.