Five Below
FIVE
409 hedge funds and large institutions have $4.27B invested in Five Below in 2025 Q1 according to their latest regulatory filings, with 67 funds opening new positions, 159 increasing their positions, 119 reducing their positions, and 80 closing their positions.
88% more call options, than puts
Call options by funds: $305M | Put options by funds: $162M
34% more repeat investments, than reductions
Existing positions increased: 159 | Existing positions reduced: 119
2.17% less ownership
Funds ownership: 105.92% → 103.75% (-2.2%)
3% less funds holding
Funds holding: 423 → 409 (-14)
16% less first-time investments, than exits
New positions opened: 67 | Existing positions closed: 80
30% less capital invested
Capital invested by funds: $6.11B → $4.27B (-$1.84B)
50% less funds holding in top 10
Funds holding in top 10: 8 → 4 (-4)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Federated Hermes
Pittsburgh,
Pennsylvania
|
+$130M |
| 2 |
American Century Companies
Kansas City,
Missouri
|
+$85.9M |
| 3 |
AQR Capital Management
Greenwich,
Connecticut
|
+$55M |
| 4 |
CSS
Cubist Systematic Strategies
Stamford,
Connecticut
|
+$48.8M |
| 5 |
Two Sigma Investments
New York
|
+$48.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$378M |
| 2 |
SCM
Steadfast Capital Management
New York
|
-$124M |
| 3 |
Holocene Advisors
New York
|
-$116M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
-$103M |
| 5 |
Marshall Wace
London,
United Kingdom
|
-$89.8M |
FIVE Hedge Fund Activity: Q1 2025 in Review
409 of the 7,458 institutional investors tracked by Wall St. Rank reported a position in Five Below (FIVE) for Q1 2025, worth a combined $4.27B — down 30% from $6.11B a quarter earlier.
Sellers outnumbered buyers: 80 funds closed out of FIVE and 67 opened new positions — a net loss of 13 holders — while 119 trimmed existing stakes and 159 added.
The largest buyer was Federated Hermes, adding an estimated $130M. The largest seller was T. Rowe Price Investment Management, exiting entirely with an estimated $378M sold.
- 409 institutional investors held Five Below (FIVE) as of Q1 2025, down from 423 in Q4 2024.
- Funds reported $4.27B of Five Below stock for Q1 2025, down 30% quarter-over-quarter.
- 67 funds opened new Five Below positions in Q1 2025 and 80 closed out, a net change of -13 holders.
- The largest Five Below buyer in Q1 2025 was Federated Hermes, an estimated $130M added.
- The largest Five Below seller in Q1 2025 was T. Rowe Price Investment Management, an estimated $378M sold.
Based on aggregated 13F filings for Q1 2025.