HoldCo Asset Management Urges Columbia Banking System Board to Adopt Protective Covenants
Fort Lauderdale, FL – October 29, 2025 – HoldCo Asset Management, LP today released a presentation to the Board of Directors of Columbia Banking System, Inc., calling for the implementation of protective covenants to safeguard shareholder value.
The investment firm, which manages approximately $2.6 billion in regulatory assets, shared a follow-up presentation titled “Failed Gambles Borne Solely By Owners – Protective Covenants Needed,” originally provided to the board on September 14, 2025. The presentation is available for review on HoldCo’s website. HoldCo disclosed it owns common stock in Columbia Banking System, Inc. (NASDAQ: COLB) and therefore has a financial interest in the company’s performance.
HoldCo Asset Management, founded by Vik Ghei and Misha Zaitzeff, argues that protective covenants are necessary to mitigate risks associated with potential strategic decisions. This move comes as investors increasingly scrutinize bank leadership following regional banking challenges earlier in the year. The firm’s presentation details concerns about past decisions and advocates for measures to protect shareholders from future unfavorable outcomes.
HoldCo stated in its release that all content represents its opinions and is for discussion purposes only, and that it may change its investment positions at any time without obligation. The firm indicated it will continue to monitor the situation and engage with the Columbia Banking System board as needed.
