FC
FJ Capital Management LLC 13F Holdings Tracker (Q2 2026)
FJ Capital Management LLCCIK: 0001599170
Diversified strategySector-focusedMomentum follower
Total reported value
$770.4M
Reporting period: 2026-06-30 · Number of holdings: 121
FJ Capital Management LLC disclosed 121 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $770.4M and a quarterly turnover rate of 71.6%.
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Personality snowflake
- Concentration
- 14.8
- Portfolio Stability
- 71.59
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 81.37
FJ Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.037 — mathematically equivalent to about 27 equally-sized positions, well below its 121 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.86), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 30% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out EBC
Sold out RBB
New buy BOH
New buy TFC
Add TOWN
+80.1% $17.7M
Trim SSB
-43.6% -$28.2M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 120 holdings (of 121 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SFST | Southern First Bancshares | Stock-Other | 7.08% | +2.13% | +10.53% | |
| 2 | EQBK | Equity Bancshares Inc - Cl A | Stock-Other | 6.11% | +1.50% | +4.39% | |
| 3 | NIC | Nicolet Bankshares Inc | Stock-Other | 5.95% | +0.82% | -9.51% | |
| 4 | SSB | Southstate Bank CORP | Stock-Financials | 5.69% | -2.42% | -43.62% | |
| 5 | BCAL | California Bancorp | Stock-Other | 5.56% | +1.46% | — | |
| 6 | HTB | Hometrust Bancshares Inc | Stock-Other | 5.43% | -2.03% | -46.02% | |
| 7 | TOWN | Towne Bank | Stock-Other | 4.74% | +2.62% | +80.09% | |
| 8 | OSBC | Old Second Bancorp Inc | Stock-Other | 4.42% | +1.00% | -2.97% | |
| 9 | SBCF | Seacoast Banking Corp/fl | Stock-Other | 4.34% | +1.25% | +11.07% | |
| 10 | FRME | First Merchants CORP | Stock-Other | 4.03% | +0.93% | — | |
| 11 | CVBF | Cvb Financial CORP | Stock-Other | 3.79% | +1.93% | +52.14% | |
| 12 | BOH | Bank Of Hawaii CORP | Stock-Other | 3.31% | +3.31% | NEW | |
| 13 | HBNC | Horizon Bancorp Inc/in | Stock-Other | 3.23% | +0.82% | -3.46% | |
| 14 | HBAN | Huntington Bancshares Inc | Stock-Financials | 3.14% | +1.17% | +22.14% | |
| 15 | TFC | Truist Financial CORP | Stock-Financials | 2.89% | +2.89% | NEW | |
| 16 | UMBF | Umb Financial CORP | Stock-Financials | 2.36% | +1.80% | +191.46% | |
| 17 | CBNA | Chain Bridge Bancorp Inc-a | Stock-Other | 1.60% | +0.45% | — | |
| 18 | AVBC | Avidia Bancorp Inc | Stock-Other | 1.35% | +0.25% | — | |
| 19 | LPLA | Lpl Financial Holdings Inc | Stock-Financials | 1.10% | +1.10% | NEW | |
| 20 | NLY | Annaly Capital Management In | Stock-Real Estate | 1.07% | +0.68% | +127.56% | |
| 21 | HWBK | Hawthorn Bancshares Inc | Stock-Other | 0.97% | +0.25% | — | |
| 22 | IBCP | Independent Bank CORP - Mich | Stock-Other | 0.95% | +0.19% | — | |
| 23 | WFC | Wells Fargo & Co | Stock-Financials | 0.87% | +0.87% | NEW | |
| 24 | AHR | American Healthcare Reit Inc | Stock-Real Estate | 0.86% | +0.55% | +117.42% | |
| 25 | FAF | First American Financial | Stock-Financials | 0.82% | +0.82% | NEW | |
| 26 | SYBT | Stock Yards Bancorp Inc | Stock-Other | 0.81% | +0.12% | -12.37% | |
| 27 | JLL | Jones Lang Lasalle Inc | Stock-Real Estate | 0.76% | -0.33% | -40.87% | |
| 28 | FCFS | Firstcash Holdings Inc | Stock-Financials | 0.64% | +0.52% | +313.09% | |
| 29 | SKY | Champion Homes Inc | Stock-Consumer Disc | 0.58% | +0.58% | NEW | |
| 30 | MIAX | Miami International Holdings | Stock-Other | 0.58% | +0.58% | NEW | |
| 31 | HYNE | Hoyne Bancorp Inc | Stock-Other | 0.57% | +0.14% | — | |
| 32 | WELL | Welltower Inc | Stock-Real Estate | 0.56% | +0.13% | -0.94% | |
| 33 | MKTX | Marketaxess Holdings Inc | Stock-Financials | 0.55% | +0.55% | NEW | |
| 34 | CNO | Cno Financial Group Inc | Stock-Financials | 0.54% | -0.07% | -37.67% | |
| 35 | HTGC | Hercules Capital Inc | Stock-Financials | 0.51% | +0.05% | -10.31% | |
| 36 | CME | Cme Group Inc | Stock-Financials | 0.51% | +0.51% | NEW | |
| 37 | XZO | Exzeo Group Inc | Stock-Other | 0.49% | -0.64% | -67.21% | |
| 38 | ECPG | Encore Capital Group Inc | Stock-Other | 0.46% | +0.14% | -6.35% | |
| 39 | RGA | Reinsurance Group Of America | Stock-Financials | 0.44% | +0.22% | +65.37% | |
| 40 | TOL | Toll Brothers Inc | Stock-Consumer Disc | 0.41% | +0.23% | +60.41% | |
| 41 | ETOR | eToro Group Ltd. | Stock-Other | 0.37% | +0.37% | NEW | |
| 42 | MAIN | Main Street Capital CORP | Stock-Financials | 0.36% | -0.04% | -21.55% | |
| 43 | FR | First Industrial Realty Tr | Stock-Real Estate | 0.35% | +0.07% | +3.91% | |
| 44 | AJG | Arthur J Gallagher & Co | Stock-Financials | 0.34% | +0.34% | NEW | |
| 45 | CTO | Cto Realty Growth Inc | Stock-Other | 0.34% | +0.10% | +3.94% | |
| 46 | MSIF | Msc Income Fund Inc | Stock-Other | 0.31% | +0.08% | +20.58% | |
| 47 | ABCB | Ameris Bancorp | Stock-Financials | 0.31% | -0.87% | -80.44% | |
| 48 | UDR | Udr Inc | Stock-Real Estate | 0.31% | +0.31% | NEW | |
| 49 | IVT | Inventrust Properties CORP | Stock-Other | 0.31% | -0.07% | -40.56% | |
| 50 | HLI | Houlihan Lokey Inc | Stock-Financials | 0.30% | +0.30% | NEW |
1–50 of 120
Portfolio Performance
Performance for Q3 2026
+11.1%
Performance Last 4 Quarters
+22.3%
- Stdev
- +21.5%
- Beta
- +0.84
- Alpha
- +6.8%
- Max Drawdown
- -15.4%
- Annualized Perf
- +23.6%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.51
- Stutzer
- +0.34
- Treynor
- +0.28
- Sterling
- +1.18
- Calmar
- +1.54
- Information Ratio
- +0.19
- Tracking Error
- +18.7%
- Stdev Down
- +9.4%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +52.2%
- Worst 12 Months
- +0.4%
- Efficiency Ratio
- +0.51
- Sharpe
- +1.1
- Stdev Sectors
- +30.4%
- Skewness
- +0.78
- Kurtosis
- +0.6
- Upside Potential
- +4.33
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 121 | $770.4M | 72 | ||
| 2026 Q1 | 126 | $888.1M | 69 | ||
| 2025 Q4 | 128 | $905.8M | 53 | ||
| 2025 Q3 | 142 | $930.5M | 89 | ||
| 2025 Q2 | 128 | $943.0M | 0 | ||
| 2025 Q1 | 111 | $966.2M | 100 | ||
| 2024 Q4 | 111 | $861.8M | 0 | ||
| 2024 Q3 | 120 | $954.3M | 0 | ||
| 2024 Q2 | 109 | $956.5M | 0 | ||
| 2024 Q1 | 98 | $983.0M | 0 | ||
| 2023 Q4 | 102 | $996.3M | 0 | ||
| 2023 Q3 | 108 | $883.6M | 0 | ||
| 2023 Q2 | 104 | $784.2M | 0 | ||
| 2023 Q1 | 98 | $807.6M | 0 | ||
| 2022 Q4 | 89 | $844.5M | 0 | ||
| 2022 Q3 | 93 | $836.2M | 0 | ||
| 2022 Q2 | 95 | $1.0B | 0 | ||
| 2022 Q1 | 98 | $1.2B | 0 | ||
| 2021 Q4 | 103 | $1.2B | 0 | ||
| 2021 Q3 | 94 | $1.2B | 0 | ||
| 2021 Q2 | 98 | $1.2B | 100 | ||
| 2021 Q1 | 101 | $1.2B | 48 | ||
| 2020 Q4 | 86 | $897.9M | 61 | ||
| 2020 Q3 | 85 | $635.6M | 30 | ||
| 2020 Q2 | 74 | $644.7M | 41 | ||
| 2020 Q1 | 70 | $566.0M | 66 | ||
| 2019 Q4 | 80 | $934.8M | 41 | ||
| 2019 Q3 | 92 | $963.9M | 33 | ||
| 2019 Q2 | 90 | $1.0B | 26 | ||
| 2019 Q1 | 95 | $968.4M | 40 | ||
| 2018 Q4 | 107 | $855.8M | 33 | ||
| 2018 Q3 | 105 | $899.9M | 28 | ||
| 2018 Q2 | 96 | $900.9M | 38 | ||
| 2018 Q1 | 108 | $812.2M | 29 | ||
| 2017 Q4 | 104 | $798.4M | 27 | ||
| 2017 Q3 | 103 | $824.4M | 15 | ||
| 2017 Q2 | 100 | $791.9M | 35 | ||
| 2017 Q1 | 84 | $726.6M | 16 | ||
| 2016 Q4 | 80 | $673.4M | 37 | ||
| 2016 Q3 | 77 | $522.2M | 33 | ||
| 2016 Q2 | 80 | $504.5M | 29 | ||
| 2016 Q1 | 85 | $509.3M | 23 | ||
| 2015 Q4 | 102 | $548.9M | 22 | ||
| 2015 Q3 | 96 | $457.3M | 22 | ||
| 2015 Q2 | 92 | $419.0M | 25 | ||
| 2015 Q1 | 85 | $356.0M | 100 | ||
| 2014 Q4 | 88 | $318.7M | 0 | ||
| 2014 Q3 | 84 | $270.1M | 37 | ||
| 2014 Q2 | 78 | $261.4M | 67 | ||
| 2014 Q1 | 67 | $174.9M | 35 | ||
| 2013 Q4 | 69 | $148.0M | 0 |
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Holding changes this quarter
FJ Capital Management LLC's most significant position changes for 2026-06-30: Sold out: Eastern Bankshares Inc (EBC); Sold out: Rbb Bancorp (RBB); New buy: Bank Of Hawaii CORP (BOH); New buy: Truist Financial CORP (TFC); Sold out: Bankunited Inc (BKU).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BOH | Bank Of Hawaii CORP | +3.3% | NEW | New buy |
| 2 | TFC | Truist Financial CORP | +2.9% | NEW | New buy |
| 3 | TOWN | Towne Bank | +2.6% | +80.09% | Add |
| 4 | SFST | Southern First Bancshares | +2.1% | +10.53% | Add |
| 5 | CVBF | Cvb Financial CORP | +1.9% | +52.14% | Add |
| 6 | UMBF | Umb Financial CORP | +1.8% | +191.46% | Add |
| 7 | EQBK | Equity Bancshares Inc - Cl A | +1.5% | +4.39% | Add |
| 8 | BCAL | California Bancorp | +1.5% | — | Unchanged |
| 9 | SBCF | Seacoast Banking Corp/fl | +1.3% | +11.07% | Add |
| 10 | HBAN | Huntington Bancshares Inc | +1.2% | +22.14% | Add |
| 11 | LPLA | Lpl Financial Holdings Inc | +1.1% | NEW | New buy |
| 12 | OSBC | Old Second Bancorp Inc | +1% | -2.97% | Trim |
| 13 | FRME | First Merchants CORP | +0.9% | — | Unchanged |
| 14 | WFC | Wells Fargo & Co | +0.9% | NEW | New buy |
| 15 | FAF | First American Financial | +0.8% | NEW | New buy |
| 16 | HBNC | Horizon Bancorp Inc/in | +0.8% | -3.46% | Trim |
| 17 | NIC | Nicolet Bankshares Inc | +0.8% | -9.51% | Trim |
| 18 | NLY | Annaly Capital Management In | +0.7% | +127.56% | Add |
| 19 | SKY | Champion Homes Inc | +0.6% | NEW | New buy |
| 20 | MIAX | Miami International Holdings | +0.6% | NEW | New buy |
| 21 | MKTX | Marketaxess Holdings Inc | +0.6% | NEW | New buy |
| 22 | AHR | American Healthcare Reit Inc | +0.6% | +117.42% | Add |
| 23 | FCFS | Firstcash Holdings Inc | +0.5% | +313.09% | Add |
| 24 | CME | Cme Group Inc | +0.5% | NEW | New buy |
| 25 | CBNA | Chain Bridge Bancorp Inc-a | +0.5% | — | Unchanged |
| 26 | ETOR | eToro Group Ltd. | +0.4% | NEW | New buy |
| 27 | AJG | Arthur J Gallagher & Co | +0.3% | NEW | New buy |
| 28 | UDR | Udr Inc | +0.3% | NEW | New buy |
| 29 | HLI | Houlihan Lokey Inc | +0.3% | NEW | New buy |
| 30 | TRTX | Tpg Re Finance Trust Inc | +0.3% | NEW | New buy |
| 31 | ALLY | Ally Financial Inc | +0.3% | NEW | New buy |
| 32 | HWBK | Hawthorn Bancshares Inc | +0.3% | — | Unchanged |
| 33 | AVBC | Avidia Bancorp Inc | +0.3% | — | Unchanged |
| 34 | TOL | Toll Brothers Inc | +0.2% | +60.41% | Add |
| 35 | RGA | Reinsurance Group Of America | +0.2% | +65.37% | Add |
| 36 | FHI | Federated Hermes Inc | +0.2% | +262.54% | Add |
| 37 | RWT | Redwood Trust Inc | +0.2% | NEW | New buy |
| 38 | IBCP | Independent Bank CORP - Mich | +0.2% | — | Unchanged |
| 39 | XYZ | Block Inc | +0.2% | NEW | New buy |
| 40 | BRX | Brixmor Property Group Inc | +0.1% | +52.07% | Add |
| 41 | ECPG | Encore Capital Group Inc | +0.1% | -6.35% | Trim |
| 42 | HYNE | Hoyne Bancorp Inc | +0.1% | — | Unchanged |
| 43 | WELL | Welltower Inc | +0.1% | -0.94% | Trim |
| 44 | PDM | Piedmont Realty Trust Inc | +0.1% | NEW | New buy |
| 45 | SYBT | Stock Yards Bancorp Inc | +0.1% | -12.37% | Trim |
| 46 | DRH | Diamondrock Hospitality Co | +0.1% | NEW | New buy |
| 47 | AFRM | Affirm Holdings Inc | +0.1% | NEW | New buy |
| 48 | GL | Globe Life Inc | +0.1% | +11.70% | Add |
| 49 | RKT | Rocket Cos Inc-class A | +0.1% | NEW | New buy |
| 50 | SLDE | Slide Insurance Holdings Inc | +0.1% | NEW | New buy |
1–50 of 173
Filing History
FAQ
What is FJ Capital Management LLC and what type of investor is it?
FJ Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $770.4M, spread across 121 disclosed positions.
What are FJ Capital Management LLC's largest equity positions?
Based on the latest 13F filing, FJ Capital Management LLC's top holdings by market value are:
1. Southern First Bancshares (SFST) — $54.5M (7.1%)
2. Equity Bancshares Inc - Cl A (EQBK) — $47.1M (6.1%)
3. Nicolet Bankshares Inc (NIC) — $45.9M (6.0%)
4. Southstate Bank CORP (SSB) — $43.9M (5.7%)
5. California Bancorp (BCAL) — $42.8M (5.6%)
What changes did FJ Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, FJ Capital Management LLC made 157 notable position adjustments: 47 new positions were initiated, 30 existing holdings were added to, 27 positions were partially reduced, and 53 were completely exited. The largest of these moves: Sold out: Eastern Bankshares Inc (EBC); Sold out: Rbb Bancorp (RBB); New buy: Bank Of Hawaii CORP (BOH); New buy: Truist Financial CORP (TFC); Sold out: Bankunited Inc (BKU)
What sectors does FJ Capital Management LLC focus on?
FJ Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 79.5%
• Real Estate: 16.5%
• Consumer Discretionary: 3.3%
• Information Technology: 0.3%
• Health Care: 0.3%
Investment Profile
FJ Capital Management LLC returned an annualized 23.6% over the trailing 36 months — outperforming the S&P 500 by 6.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.84 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 79.5% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 72 over the past 4 quarters — a shift toward more active trading.
It has added to its NIC position over the past two quarters (+$43.4M, now $45.9M), while trimming SSB over the same stretch (-$32.7M, still holding $43.9M).
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Developer Access
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