Banc Funds Co LLC Amends Avidbank Holdings Stake

TL;DR

**Banc Funds Co LLC updated its Avidbank Holdings stake, signaling continued institutional interest.**

AI Summary

Banc Funds Co LLC, a Chicago-based investment firm, filed an amended SC 13G/A on February 8, 2024, indicating a change in its ownership of Avidbank Holdings, Inc. common stock as of December 31, 2023. This filing, an amendment to a previous Schedule 13G, shows that Banc Funds Co LLC, along with its group members Banc Fund IX L.P. and TBFC Financial Technologies Fund L.P., continues to hold a significant stake in Avidbank. This matters to investors because large institutional holdings can influence stock stability and signal confidence (or lack thereof) in the company's future.

Why It Matters

This filing updates the public on a major institutional investor's position in Avidbank Holdings, Inc., which can impact investor sentiment and stock liquidity.

Risk Assessment

Risk Level: low — This is a routine amendment to an existing filing, indicating no immediate significant risk or change in company fundamentals.

Analyst Insight

Investors should note that a significant institutional holder, Banc Funds Co LLC, continues to maintain its position in Avidbank Holdings, Inc. This suggests ongoing confidence, but the filing itself doesn't indicate a new buying or selling spree, so further research into the company's financials and news is warranted.

Key Players & Entities

• Banc Funds Co LLC (company) — the investment firm filing the SC 13G/A
• Avidbank Holdings, Inc. (company) — the subject company whose stock is being reported
• Banc Fund IX L.P. (company) — a group member of Banc Funds Co LLC
• TBFC Financial Technologies Fund L.P. (company) — a group member of Banc Funds Co LLC
• December 31, 2023 (date) — the date of the event requiring the filing

FAQ

Filing Documents

• doc1.htm (SC 13G/A) — 94KB
• 0001567619-24-000074.txt ( ) — 96KB

From the Filing

SC 13G/A 1 doc1.htm NONE Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1 )* Avidbank Holdings, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 05368J103 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: o Rule 13d-1(b) x Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 05368J103 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Banc Fund X L.P. 82-5185037 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 300539 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 300539 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 300539 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.1% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) N/A FOOTNOTES CUSIP No. 05368J103 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Banc Fund IX L.P. 37-1755531 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 395158 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 395158 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 395158 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 3.9% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) N/A FOOTNOTES CUSIP No. 05368J103 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) TBFC Financial Technologies Fund L.P. 88-1405404 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) x 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 0 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 0 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0% 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) N/A FOOTNOTES Item 1. (a) Name of Issuer Avidbank Holdings, Inc. (b) Address of Issuer's Principal Executive Offices 1732 N. 1ST STREET, 6TH FLOOR SAN JOSE CA 95112 Item 2. (a) Name of Person Filing The Banc Funds Company, L.L.C. This Schedule 13G/A is being filed jointly by Banc Fund IX L.P. ("BF IX"), an Illinois Limited Partnership, Banc Fund X L.P. ("BF X"), an Illinois Limited Partnership, and TBFC Financial Technologies Fund L.P. (collectively, the "Reporting Persons"). The general partner of BF IX is MidBan IX L.P. ("MidBan IX"), whose principal business is to be a general partner of BF IX. The general partner of BF X is MidBan X L.P. ("MidBan X"), whose principal business is to be a general partner of BF X. The general partner of TBFC Financial Technologies Fund L.P. is MidBan XI L.P. ("MidBan XI"), whose principal business is to be a general partner of TBFC Financial Technologies Fund L.P. The general partner of MidBan IX, MidBan X, and MidBan XI is The Banc Funds Company, L.L.C., ("TBFC"), whose principal business is to be a general partner of MidBan IX, MidBan X, and MidBan XI. TBFC is an Illinois corporation whose principal shareholder is Charles J. Moore. Mr. Moore has been the manager of BF IX, BF X and TBFC Financial Technologies Fund L.P., since their respective inceptions. As manager, Mr. Moore has voting and dispositive power over the securities of the issuer held by each of those entities. As the controlling member of TBFC, Mr. Moore will control TBFC

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