BannerBANR
13F holders, Q4 2025 (December 31)At the end of Q4 2025, 248 institutions reported holding Banner Corporation (BANR) in their 13F filings, up 23 from Q3 2025. 33 opened new positions and 15 sold out. The largest holders were BlackRock, Inc. ($310.8M), Vanguard Group Inc. ($240.4M) and Dimensional Fund Advisors LP ($135.3M). 7 famous investors held it, including Paul Tudor Jones (0.0% of Tudor Investment Corporation's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).
- Company
- Banner Corporation
- CUSIP
- 06652V208
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 33 | $39.1M |
| Exits | 15 | $3.1M |
All 13F filers, Q3 2025 → Q4 2025: 2,274,941 shares bought and 2,582,118 shares sold, net −307,177 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 248 holders
| BlackRock, Inc. | 0.01% | Add +0.9% | 4,960,241 | $310.8M |
| Vanguard Group Inc. | 0.00% | Add +1.2% | 3,837,199 | $240.4M |
| Dimensional Fund Advisors LP | 0.03% | Add +0.3% | 2,158,993 | $135.3M |
| State Street Corp. | 0.00% | Reduce -2.0% | 1,771,401 | $111.0M |
| Charles Schwab Investment Management Inc. | 0.01% | Add +0.5% | 1,448,700 | $90.8M |
| Victory Capital Management Inc. | 0.04% | Reduce -31.5% | 1,139,712 | $71.4M |
| Westwood Holdings Group Inc. | 0.59% | Reduce -1.6% | 1,135,362 | $71.1M |
| Manufacturers Life Insurance Company, The | 0.05% | Reduce -2.1% | 920,525 | $57.7M |
| Geode Capital Management, LLC | 0.00% | Reduce -0.5% | 840,454 | $52.7M |
| Nuveen, LLC | 0.01% | Add +17.9% | 749,083 | $46.9M |
| American Century Companies Inc. | 0.02% | Reduce -1.0% | 675,721 | $42.3M |
| William Blair Investment Management, LLC | 0.12% | Reduce -6.4% | 664,138 | $41.6M |
| Deprince Race & Zollo Inc. | 0.59% | Add +93.8% | 488,295 | $30.6M |
| UBS Group AG | 0.01% | Add +241.2% | 454,807 | $28.5M |
| Millennium Management | 0.02% | Add +31.4% | 446,882 | $28.0M |
| Northern Trust Corp. | 0.00% | Reduce -5.4% | 431,659 | $27.0M |
| Morgan Stanley | 0.00% | Add +37.1% | 369,120 | $23.1M |
| Fisher Asset Management | 0.01% | Reduce -6.2% | 367,148 | $23.0M |
| Goldman Sachs Group Inc. | 0.00% | Add +60.7% | 366,689 | $23.0M |
| Bank of New York Mellon Corp | 0.00% | Reduce -2.3% | 320,609 | $20.1M |
| Aberdeen Group plc | 0.03% | Reduce -4.8% | 287,398 | $18.0M |
| Bridgeway Capital Management, LLC | 0.37% | Add +8.9% | 278,771 | $17.5M |
| Raymond James Financial Inc. | 0.01% | Reduce -9.0% | 269,146 | $17.0M |
| FMR LLC | 0.00% | Add +53.1% | 255,661 | $16.0M |
| Citadel Advisors | 0.01% | New | 233,670 | $14.6M |
| Wellington Management Group LLP | 0.00% | Reduce -84.3% | 231,366 | $14.5M |
| Panagora Asset Management Inc. | 0.05% | Add +4.3% | 219,577 | $13.8M |
| Aristotle Capital Boston, LLC | 0.75% | Reduce -9.4% | 218,172 | $13.7M |
| Basswood Capital Management, L.L.C. | 0.60% | Reduce -35.6% | 216,813 | $13.6M |
| MetLife Investment Management, LLC | 0.06% | Reduce -0.7% | 212,945 | $13.3M |
| Principal Financial Group Inc. | 0.01% | Add +6.0% | 206,075 | $12.9M |
| Stieven Capital Advisors, L.P. | 2.08% | Reduce -0.3% | 178,956 | $11.2M |
| Qube Research & Technologies Ltd | 0.01% | Add +231.7% | 152,158 | $9.5M |
| Invesco Ltd. | 0.00% | Reduce -3.6% | 149,389 | $9.4M |
| Empowered Funds, LLC | 0.15% | Add +24.0% | 144,226 | $9.0M |
| Bank of America Corp. | 0.00% | Reduce -7.1% | 136,760 | $8.6M |
| Two Sigma Investments, LP | 0.01% | Reduce -25.5% | 129,486 | $8.1M |
| Allspring Global Investments Holdings, LLC | 0.01% | Reduce -6.6% | 126,957 | $7.9M |
| Public Sector Pension Investment Board | 0.02% | Reduce -12.6% | 117,933 | $7.4M |
| Phocas Financial Corp. | 0.92% | Reduce -0.2% | 113,401 | $7.1M |
| Sei Investments Co. | 0.01% | Reduce -8.3% | 113,053 | $7.1M |
| Rhumbline Advisers | 0.00% | Reduce -3.0% | 97,217 | $6.1M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +3.3% | 94,281 | $5.9M |
| Peregrine Capital Management LLC | 0.18% | Reduce -4.7% | 93,357 | $5.8M |
| Russell Investments Group, Ltd. | 0.01% | Add +62.7% | 91,934 | $5.8M |
| Legal & General Group Plc | 0.00% | Reduce -5.7% | 84,727 | $5.3M |
| State of Wisconsin Investment Board | 0.01% | Add +3.0% | 82,588 | $5.2M |
| Trexquant Investment LP | 0.05% | New | 80,693 | $5.1M |
| F/m Investments LLC | 0.19% | Reduce -2.6% | 80,351 | $5.0M |
| Wells Fargo & Company | 0.00% | Add +7.3% | 79,417 | $5.0M |
| Point72 Asset Management | 0.01% | New | 78,038 | $4.9M |
| ExodusPoint Capital Management, LP | 0.05% | Add +87.3% | 77,259 | $4.8M |
| JPMorgan Chase & Co. | 0.00% | Add +8.4% | 75,880 | $4.8M |
| Swiss National Bank | 0.00% | Add +1.6% | 68,200 | $4.3M |
| Focus Partners Wealth | 0.00% | Reduce -2.5% | 65,137 | $4.1M |
| Ameriprise Financial Inc. | 0.00% | Reduce -4.4% | 63,773 | $4.0M |
| Barclays PLC | 0.00% | Reduce -2.3% | 63,754 | $4.0M |
| Tudor Investment Corporation | 0.02% | Reduce -35.3% | 62,393 | $3.9M |
| Siena Capital Partners GP, LLC | 1.03% | No change | 60,973 | $3.8M |
| Thrivent Financial for Lutherans | 0.01% | Reduce -5.4% | 55,160 | $3.5M |
| Allianz Asset Management GmbH | 0.00% | Reduce -41.5% | 50,538 | $3.2M |
| D. E. Shaw & Co. | 0.00% | New | 50,002 | $3.1M |
| Stifel Financial Corp. | 0.00% | Reduce -11.6% | 48,074 | $3.0M |
| AQR Capital Management | 0.00% | Add +39.1% | 45,838 | $2.9M |
| Public Employees Retirement System of Ohio | 0.01% | Reduce -0.0% | 42,146 | $2.6M |
| Campbell & CO Investment Adviser LLC | 0.13% | Add +213.7% | 41,715 | $2.6M |
| First Trust Advisors LP | 0.00% | Reduce -3.2% | 40,310 | $2.5M |
| Alliancebernstein L.P. | 0.00% | Reduce -0.6% | 39,709 | $2.5M |
| Jane Street Group, LLC | 0.00% | Reduce -55.1% | 36,777 | $2.3M |
| Y-Intercept (Hong Kong) Ltd | 0.05% | Add +339.9% | 35,585 | $2.2M |
| Voya Investment Management LLC | 0.00% | Add +1.3% | 34,283 | $2.1M |
| T. Rowe Price Associates Inc. | 0.00% | Add +6.0% | 33,787 | $2.1M |
| Petiole USA ltd | 1.35% | No change | 33,285 | $2.1M |
| Prudential Financial Inc. | 0.00% | Reduce -7.2% | 32,404 | $2.0M |
| Citigroup Inc. | 0.00% | Reduce -46.0% | 31,844 | $2.0M |
| California State Teachers Retirement System | 0.00% | Reduce -0.1% | 31,790 | $2.0M |
| CANADA LIFE ASSURANCE Co | 0.00% | Reduce -22.5% | 31,119 | $1.9M |
| Rosenthal | Henry Capital Advisors, Inc. | 1.79% | No change | 30,877 | $1.9M |
| Mirae Asset Global Investments Co., Ltd. | 0.01% | Reduce -4.5% | 30,815 | $1.9M |
| State of Tennessee, Department of Treasury | 0.01% | Add +265.5% | 30,827 | $1.9M |
| Rafferty Asset Management, LLC | 0.01% | Reduce -19.5% | 30,138 | $1.9M |
| Deutsche Bank AG | 0.00% | Add +4.4% | 29,844 | $1.9M |
| Caldwell Sutter Capital, Inc. | 0.75% | Reduce -4.2% | 28,261 | $1.8M |
| New York State Common Retirement Fund | 0.00% | Reduce -6.1% | 26,368 | $1.7M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.00% | Add +176.0% | 24,890 | $1.6M |
| SG Americas Securities, LLC | 0.00% | Add +836.0% | 22,605 | $1.4M |
| Cascade Investment Advisors, Inc. | 0.83% | Reduce -0.1% | 22,565 | $1.4M |
| Edgestream Partners, L.P. | 0.04% | Reduce -64.6% | 22,533 | $1.4M |
| Wesbanco Bank Inc. | 0.04% | No change | 22,169 | $1.4M |
| Brandywine Global Investment Management, LLC | 0.01% | New | 20,607 | $1.3M |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 0.00% | Reduce -0.2% | 20,187 | $1.3M |
| State of Alaska, Department of Revenue | 0.01% | Reduce -0.1% | 18,819 | $1.2M |
| Two Sigma Advisers, LP | 0.00% | Reduce -49.2% | 18,700 | $1.2M |
| Sovran Advisors, LLC | 0.10% | New | 17,382 | $1.1M |
| Illinois Municipal Retirement Fund | 0.01% | Reduce -3.1% | 17,673 | $1.1M |
| Royal Bank of Canada | 0.00% | Add +1.0% | 17,519 | $1.1M |
| Roehl & Yi Investment Advisors, LLC | 0.44% | No change | 17,378 | $1.1M |
| Arrowstreet Capital, Limited Partnership | 0.00% | New | 17,169 | $1.1M |
| Mercer Global Advisors Inc. | 0.00% | Add +0.4% | 16,959 | $1.1M |
| Numerai GP LLC | 0.13% | New | 16,909 | $1.1M |
| Engineers Gate Manager LP | 0.01% | Add +398.0% | 16,891 | $1.1M |
| Susquehanna International Group, LLP | 0.00% | Reduce -29.0% | 16,309 | $1.0M |
| Horizon Investments, LLC | 0.01% | Add +78.6% | 16,211 | $1.0M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +0.3% | 15,857 | $994K |
| Louisiana State Employees Retirement System | 0.02% | Reduce -1.9% | 15,600 | $977K |
| Natixis Advisors, LLC | 0.00% | Reduce -5.1% | 15,290 | $958K |
| Janus Henderson Group PLC | 0.00% | No change | 15,072 | $944K |
| HSBC Holdings PLC | 0.00% | New | 14,341 | $897K |
| Harbor Capital Advisors, Inc. | 0.07% | Add +7.2% | 14,242 | $892K |
| Intech Investment Management LLC | 0.01% | Reduce -43.5% | 14,154 | $887K |
| Susquehanna Fundamental Investments, LLC | 0.03% | New | 13,899 | $871K |
| New York State Teachers Retirement System | 0.00% | No change | 13,585 | $851K |
| Diversified Trust Co. | 0.01% | Add +4.4% | 12,726 | $797K |
| Envestnet Asset Management Inc. | 0.00% | Reduce -16.4% | 12,364 | $775K |
| Sippican Capital Advisors | 0.50% | Reduce -0.9% | 12,360 | $774K |
| Occudo Quantitative Strategies LP | 0.05% | New | 11,873 | $744K |
| Comerica Bank | 0.00% | Reduce -17.5% | 10,370 | $650K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | No change | 10,094 | $632K |
| BNP Paribas Financial Markets | 0.00% | Add +23.3% | 10,024 | $628K |
| Hennessy Advisors Inc. | 0.02% | Reduce -50.0% | 10,000 | $627K |
| Amalgamated Bank | 0.00% | Reduce -0.3% | 9,907 | $621K |
| Voloridge Investment Management, LLC | 0.00% | New | 9,805 | $614K |
| Arizona State Retirement System | 0.00% | Reduce -5.9% | 9,635 | $604K |
| Sequoia Financial Advisors, LLC | 0.00% | Add +6.9% | 9,610 | $602K |
| Yousif Capital Management, LLC | 0.01% | Reduce -13.9% | 9,217 | $592K |
| Police & Firemen's Retirement System of New Jersey | 0.00% | No change | 9,434 | $591K |
| State Board of Administration of Florida Retirement System | 0.00% | No change | 9,291 | $582K |
| Amundi | 0.00% | Add +31.1% | 9,020 | $565K |
| Teachers Retirement System of the State of Kentucky | 0.00% | Reduce -11.6% | 8,665 | $543K |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.00% | Reduce -4.2% | 8,439 | $529K |
| Verition Fund Management LLC | 0.00% | Add +18.0% | 8,179 | $512K |
| CSM Advisors, LLC | 0.01% | Add +21.1% | 7,994 | $501K |
| Oregon Public Employees Retirement Fund | 0.01% | No change | 7,757 | $486K |
| Franklin Resources Inc. | 0.00% | Add +17.3% | 7,707 | $483K |
| Brevan Howard Capital Management LP | 0.01% | New | 7,678 | $481K |
| KLP Kapitalforvaltning As | 0.00% | Add +5.7% | 7,400 | $464K |
| Princeton Capital Management LLC | 0.12% | Add +37.9% | 7,281 | $456K |
| Keybank National Association | 0.00% | Reduce -8.4% | 7,197 | $451K |
| Tradewinds Capital Management, LLC | 0.09% | No change | 6,992 | $438K |
| Handelsbanken Fonder AB | 0.00% | No change | 6,944 | $435K |
| Tidal Investments LLC | 0.00% | Reduce -11.4% | 6,703 | $420K |
| ProShare Advisors LLC | 0.00% | Add +3.1% | 6,628 | $415K |
| DRW Securities, LLC | 0.03% | New | 6,122 | $384K |
| Paradigm Capital Management Inc. | 0.02% | No change | 6,000 | $376K |
| Wood Tarver Financial Group, LLC | 0.10% | No change | 5,863 | $367K |
| Cerity Partners LLC | 0.00% | Add +66.3% | 5,844 | $366K |
| Profund Advisors LLC | 0.01% | Add +88.5% | 5,772 | $362K |
| Schonfeld Strategic Advisors LLC | 0.00% | New | 5,761 | $361K |
| Quantinno Capital Management LP | 0.00% | Add +19.0% | 5,709 | $358K |
| Captrust Financial Advisors | 0.00% | Add +1.4% | 5,498 | $345K |
| Hancock Whitney Corp. | 0.01% | Add +1.3% | 5,424 | $340K |
| Natixis | 0.00% | New | 5,200 | $326K |
| EntryPoint Capital, LLC | 0.13% | New | 5,194 | $325K |
| Aquatic Capital Management LLC | 0.01% | Add +834.5% | 5,177 | $324K |
| Pictet Asset Management Holding SA | 0.00% | Add +18.7% | 5,093 | $319K |
| Neuberger Berman Group LLC | 0.00% | Reduce -2.1% | 5,083 | $319K |
| Capstone Investment Advisors, LLC | 0.00% | New | 5,005 | $314K |
| Maryland State Retirement & Pension System | 0.01% | No change | 4,972 | $312K |
| Balyasny Asset Management L.P. | 0.00% | Add +8.5% | 4,909 | $308K |
| United Capital Financial Advisors, LLC | 0.00% | New | 4,813 | $302K |
| Financial Planning Hawaii, Inc. | 0.17% | — | 4,714 | $295K |
| Entropy Technologies, LP | 0.02% | New | 4,605 | $289K |
| Man Group plc | 0.00% | New | 4,527 | $284K |
| HighTower Advisors, LLC | 0.00% | Reduce -1.5% | 4,360 | $273K |
| Canada Pension Plan Investment Board | 0.00% | New | 4,100 | $257K |
| Badgley Phelps Wealth Managers, LLC | 0.00% | No change | 4,099 | $257K |
| Great Lakes Advisors, LLC | 0.00% | Reduce -1.2% | 3,951 | $248K |
| Mutual of America Capital Management LLC | 0.00% | Add +0.6% | 3,896 | $244K |
| ZWJ Investment Counsel Inc. | 0.01% | No change | 3,592 | $225K |
| LPL Financial LLC | 0.00% | Reduce -32.6% | 3,363 | $211K |
| CIBC Asset Management Inc | 0.00% | New | 3,346 | $210K |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -0.2% | 3,108 | $195K |
| Ameritas Investment Partners, Inc. | 0.01% | No change | 2,848 | $178K |
| Osaic Holdings, Inc. | 0.00% | Reduce -0.2% | 2,269 | $142K |
| US Bancorp \de | 0.00% | No change | 2,154 | $135K |
| Ensign Peak Advisors, Inc | 0.00% | Reduce -67.4% | 2,080 | $130K |
| Sterling Capital Management LLC | 0.00% | Reduce -16.5% | 1,971 | $124K |
| Gould Capital, LLC | 0.07% | No change | 1,933 | $121K |
| Cwm, LLC | 0.00% | Add +12.9% | 1,828 | $115K |
| Nisa Investment Advisors, LLC | 0.00% | Reduce -2.8% | 1,703 | $107K |
| Global Retirement Partners, LLC | 0.00% | Add +0.8% | 1,197 | $75K |
| Lodestone Wealth Management LLC | 0.03% | New | 1,058 | $66K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -36.9% | 1,048 | $66K |
| KBC Group NV | 0.00% | No change | 986 | $62K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | Add +38.6% | 818 | $51K |
| GAMMA Investing LLC | 0.00% | Reduce -30.1% | 795 | $50K |
| Pinnacle Wealth Planning Services, Inc. | 0.01% | New | 758 | $47K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 746 | $47K |
| Smartleaf Asset Management LLC | 0.00% | No change | 665 | $42K |
| Jones Financial Companies LLLP | 0.00% | Add +38.0% | 621 | $39K |
| EverSource Wealth Advisors, LLC | 0.00% | Reduce -21.4% | 617 | $39K |
| Rothschild Investment LLC | 0.00% | Add +3.9% | 509 | $32K |
| Kemnay Advisory Services Inc. | 0.00% | New | 492 | $31K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | No change | 392 | $25K |
| Rockefeller Capital Management L.P. | 0.00% | Add +126.3% | 353 | $22K |
| Nomura Asset Management Co. Ltd. | 0.00% | No change | 350 | $22K |
| Bessemer Group Inc. | 0.00% | Add +16.1% | 317 | $20K |
| Versant Capital Management, Inc | 0.00% | Add +7.3% | 295 | $18K |
| Salomon & Ludwin, LLC | 0.00% | Reduce -15.9% | 244 | $16K |
| Arax Advisory Partners | 0.00% | Reduce -17.3% | 225 | $14K |
| Maseco LLP | 0.00% | Add +0.9% | 215 | $13K |
| Atlantic Union Bankshares Corp | 0.00% | No change | 200 | $13K |
| Quarry LP | 0.00% | Add +565.5% | 193 | $12K |
| Eurizon Capital SGR S.p.A. | 0.00% | — | 191 | $12K |
| Los Angeles Capital Management LLC | 0.00% | New | 180 | $11K |
| Steward Partners Investment Advisory, LLC | 0.00% | No change | 160 | $10K |
| UMB Bank, n.a. | 0.00% | Reduce -20.9% | 155 | $10K |
| Quantbot Technologies LP | 0.00% | New | 153 | $10K |
| Fifth Third Bancorp | 0.00% | Add +35.9% | 144 | $9K |
| Bellevue Asset Management, LLC | 0.00% | No change | 142 | $9K |
| McIlrath & Eck, LLC | 0.00% | No change | 128 | $8K |
| Root Financial Partners, LLC | 0.00% | Add +11.6% | 125 | $8K |
| Cheviot Value Management, LLC | 0.00% | No change | 110 | $7K |
| Bare Financial Services, Inc | 0.00% | Add +17.5% | 94 | $6K |
| LRI Investments, LLC | 0.00% | No change | 93 | $6K |
| Parkside Financial Bank & Trust | 0.00% | No change | 69 | $4K |
| Farther Finance Advisors, LLC | 0.00% | Add +300.0% | 52 | $3K |
| Quadrant Capital Group LLC | 0.00% | No change | 50 | $3K |
| Spire Wealth Management | 0.00% | No change | 43 | $3K |
| Sunbelt Securities, Inc. | 0.00% | No change | 39 | $2K |
| Huntington National Bank | 0.00% | No change | 37 | $2K |
| Elyxium Wealth, LLC | 0.00% | New | 35 | $2K |
| Larson Financial Group LLC | 0.00% | No change | 33 | $2K |
| Allworth Financial LP | 0.00% | Add +17.9% | 33 | $2K |
| Ares Financial Consulting, LLC | 0.00% | — | 30 | $2K |
| MAI Capital Management | 0.00% | New | 27 | $2K |
| Glen Eagle Advisors, LLC | 0.00% | No change | 25 | $2K |
| JFS Wealth Advisors, LLC | 0.00% | Add +46.7% | 22 | $1K |
| Farmers & Merchants Investments Inc. | 0.00% | No change | 21 | $1K |
| Picton Mahoney Asset Management | 0.00% | No change | 20 | $1K |
| IFP Advisors, Inc | 0.00% | No change | 18 | $1K |
| Hantz Financial Services, Inc. | 0.00% | Reduce -86.8% | 20 | $1K |
| Keating Financial Advisory Services, Inc. | 0.00% | — | 15 | $940 |
| Torren Management, LLC | 0.00% | — | 12 | $721 |
| Bruce G. Allen Investments, LLC | 0.00% | Add +83.3% | 11 | $689 |
| CIBC Private Wealth Group LLC | 0.00% | New | 8 | $501 |
| Fortitude Family Office, LLC | 0.00% | Reduce -25.0% | 6 | $376 |
| Assetmark, Inc. | 0.00% | New | 6 | $376 |
| DiNuzzo Private Wealth, Inc. | 0.00% | No change | 6 | $376 |
| Bay Harbor Wealth Management, LLC | 0.00% | No change | 4 | $250 |
| SJS Investment Consulting Inc. | 0.00% | No change | 3 | $188 |
| Rialto Wealth Management, LLC | 0.00% | Reduce -25.0% | 3 | $188 |
| Gilpin Wealth Management, LLC | 0.00% | — | 2 | $126 |
| HFM Investment Advisors, LLC | 0.00% | No change | 2 | $126 |
| Ankerstar Wealth, LLC | 0.00% | — | 2 | $125 |
| AlphaQuest LLC | 0.00% | Reduce -99.6% | 1 | $63 |
| Dunhill Financial, LLC | 0.00% | New | 1 | $43 |
| Covestor Ltd | 0.00% | Add +100.0% | 4 | $0 |
"% of holder's portfolio" is BANR's weight in each manager's 13F, not the share of Banner Corporation the manager owns.