Five Below, Inc. (NASDAQ: FIVE) is a value focused specialty retailer best known for its low price point merchandise aimed primarily at younger consumers. Shares recently traded around $190 per share, giving Five Below a market value of roughly $10.5 billion.
After navigating margin pressure and execution challenges over the past few years, Five Below’s stock has rebounded meaningfully. Looking at who owns the company today and how insiders have been trading helps provide insight into how large investors may be viewing the durability of this recovery.
Who Are Five Below’s Top Shareholders?
Five Below’s shareholder base is led by large institutional investors. These firms typically hold through market cycles, which can help stabilize ownership, while shifts among active managers can highlight changing views on valuation and execution.
- The Vanguard Group, Inc.: 5,363,563 shares (9.72%), $1.02B value. Added 68,637 shares (+1.30%).
- BlackRock Institutional Trust Company, N.A.: 4,390,683 shares (7.96%), $834M value. Cut 142,704 shares (-3.15%).
- Fidelity Management & Research Company LLC: 2,113,577 shares (3.83%), $401M value. Added 88,550 shares (+4.37%).
- D. E. Shaw & Co., L.P.: 2,076,318 shares (3.76%), $394M value. Cut 807,980 shares (-28.01%).
- American Century Investment Management, Inc.: 1,873,116 shares (3.40%), $356M value. Added 332,615 shares (+21.59%).
- UBS Financial Services, Inc.: 1,707,843 shares (3.10%), $324M value. Added 69,795 shares (+4.26%).
- State Street Investment Management (US): 1,674,172 shares (3.04%), $318M value. Cut 20,561 shares (-1.21%).
- Wasatch Global Investors Inc.: 1,492,641 shares (2.71%), $283M value. Cut 140,909 shares (-8.63%).
- Federated MDTA LLC: 1,431,724 shares (2.60%), $272M value. Cut 43,894 shares (-2.97%).
- Capital World Investors: 1,353,928 shares (2.45%), $257M value. Added 12,583 shares (+0.94%).
- Marshall Wace LLP: 1,154,259 shares (2.09%), $219M value. Added 114,711 shares (+11.03%).
For investors, this ownership mix shows a stable base anchored by passive institutions, while active managers appear split, with some adding exposure into the recovery and others trimming after the stock’s strong rebound.
Hedge Fund Highlights
One notable move came from Squarepoint Ops LLC, founded by Louis Bacon, which increased its Five Below position by 934%. The firm now holds roughly $18M value of the stock, which appears to reflect growing interest following improvements in execution.
Point72 Asset Management, founded by Steven Cohen, also raised its stake by 81% to about $18M value, suggesting the firm may be leaning more positively on Five Below’s recovery after a volatile period for specialty retail.
Shellback Capital, led by founder Jon Hilsabeck, increased its position by 71%, bringing total holdings to approximately $21M value, which may point to confidence in store level performance improvements.
Meanwhile, Samlyn Capital, founded by Robert Pohly, lifted its stake by 26% and now holds roughly $146M value of Five Below shares, making it one of the more meaningful hedge fund holders in the stock.
For investors, these moves suggest hedge fund interest is building, though conviction levels still vary across managers.
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Five Below’s Recent Insider Trades
Insider filings over the past month leaned toward selling, with transactions spread across several executives and directors. All disclosed trades were small relative to Five Below’s total shares outstanding.
- Winifred Park (Officer & Director): Sold 1,509 shares for ~$267K.
- Kathleen S. Barclay (Director): Sold 2,200 shares for ~$400K.
- George S. Hill (Officer): Sold a combined 7,500 shares for ~$1.36M.
- Michael F. Devine III (Director): Sold 6,000 shares for ~$1.09M.
- Kenneth R. Bull (Officer): Sold multiple lots totaling ~25,000 shares for ~$4.4M.
Several Form 144 filings appeared alongside these transactions, which may relate to reporting or administrative considerations rather than a coordinated signal.
For investors, the insider activity appears cautious but measured, with selling clustered after the stock’s rebound and no material change to overall insider ownership levels.
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What the Ownership & Insider Trade Data Tell Us
Five Below remains firmly institutionally owned, supported by large passive funds that provide stability. Hedge fund activity points to growing engagement, while insider transactions suggest management may be managing personal exposure following a strong share price recovery.
For investors, the combined data suggest the market appears more comfortable with Five Below’s turnaround, but conviction remains selective as valuation and longer term earnings durability continue to be evaluated.
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