FJ Capital Management LLC
Sector Allocation
- Financials84.6%$652.0M
- Real Estate6.8%$52.7M
- Other5.9%$45.6M
- Industrials1.0%$7.6M
- Consumer Discretionary0.8%$6.0M
- Technology0.8%$5.8M
- Healthcare0.1%$778,656
AUM History
13fpro.ai/research/fund/fj-capital-management-llc-1599170
Conviction and streaks
Concentrating · top 10 = 53.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
SFST
$54.5MEQBK
$47.1MNIC
$45.9MSSB
$43.9MBCAL
$42.8MHTB
$41.9M- TOWNEBANK$36.5M
OSBC
$34.1MSBCF
$33.5MFRME
$31.1MCVBF
$29.2MBOH
$25.5MHBNC
$24.9MHBAN
$24.2MTFC
$22.2MUMBF
$18.2MCBNA
$12.4MAVBC
$10.4MLPLA
$8.4MNLY
$8.2M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/fj-capital-management-llc-1599170
FJ Capital Management LLC 13F holdings — Q2 2026
$770.4M portfolio (-13.3% QoQ) · 120 holdings · Q2 2026 13F · top 10 are 53% of the stock portfolio
$54.5M
7.1% of stocks
+11%This quarter-4.5%Since filed10+ qtrsHeld$47.1M
6.1% of stocks
+4%This quarter-6.0%Since filed10+ qtrsHeld$45.9M
6.0% of stocks
-10%This quarter-3.3%Since filed4 qtrsHeld$43.9M
5.7% of stocks
-44%This quarter-5.3%Since filed4 qtrsHeld$42.8M
5.6% of stocks
No changeThis quarter+1.3%Since filed10+ qtrsHeld$41.9M
5.4% of stocks
-46%This quarter-5.7%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row- 7
TOWNEBANK - COM
$36.5M
4.7% of stocks
+80%This quarter—Since filed—HeldAIQuality—Est. buy— $34.1M
4.4% of stocks
-3%This quarter-5.1%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$33.5M
4.3% of stocks
+11%This quarter-6.6%Since filed6 qtrsHeld$31.1M
4.0% of stocks
No changeThis quarter-6.3%Since filed4 qtrsHeld
All holdings — FJ Capital Management LLC (Q2 2026)
120 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | CVB FINANCIAL CORP | Financials | $29.2M | 3.8% | 1.30M | +52% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | BANK OF HAWAII CORP | Financials | $25.5M | 3.3% | 313K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | HORIZON BANCORP INC /IN/ | Financials | $24.9M | 3.2% | 1.25M | -3% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | HUNTINGTON BANCSHARES INC /MD/ | Financials | $24.2M | 3.1% | 1.36M | +22% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | TRUIST FINANCIAL CORP | Financials | $22.2M | 2.9% | 446K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | UMB FINANCIAL CORP | Financials | $18.2M | 2.4% | 127K | +191% | 4 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | CHAIN BRIDGE BANCORP INC | Financials | $12.4M | 1.6% | 294K | — | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Avidia Bancorp, Inc. | Financials | $10.4M | 1.4% | 497K | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | LPL Financial Holdings Inc. | Financials | $8.4M | 1.1% | 30K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | ANNALY CAPITAL MANAGEMENT INC | Real Estate | $8.2M | 1.1% | 376K | +128% | 5 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | HAWTHORN BANCSHARES, INC. | Financials | $7.5M | 1.0% | 191K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | INDEPENDENT BANK CORP /MI/ | Financials | $7.3M | 0.9% | 204K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | WELLS FARGO & COMPANY/MN | Financials | $6.7M | 0.9% | 81K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | American Healthcare REIT, Inc. | Real Estate | $6.6M | 0.9% | 127K | +117% | 9 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | First American Financial Corp | Financials | $6.3M | 0.8% | 92K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $SYBT | Stock Yards Bancorp, Inc. | Financials | $6.2M | 0.8% | 81K | -12% | |||
| 27 | $JLL | JONES LANG LASALLE INC | Real Estate | $5.8M | 0.8% | 19K | -41% | |||
| 28 | $FCFS | FirstCash Holdings, Inc. | Consumer Discretionary | $4.9M | 0.6% | 23K | +313% | |||
| 29 | $SKY | Champion Homes, Inc. | Industrials | $4.4M | 0.6% | 50K | New | |||
| 30 | $MIAX | MIAMI INTERNATIONAL HOLDINGS, INC. | Financials | $4.4M | 0.6% | 119K | New | |||
| 31 | $HYNE | Hoyne Bancorp, Inc. | Financials | $4.4M | 0.6% | 261K | — | |||
| 32 | $WELL | WELLTOWER INC. | Real Estate | $4.3M | 0.6% | 19K | -0.9% | |||
| 33 | $MKTX | MARKETAXESS HOLDINGS INC | Financials | $4.2M | 0.6% | 37K | New | |||
| 34 | $CNO | CNO Financial Group, Inc. | Financials | $4.2M | 0.5% | 82K | -38% | |||
| 35 | $HCXY | Hercules Capital, Inc. | Other | $3.9M | 0.5% | 249K | -10% | |||
| 36 | $CME | CME GROUP INC. | Financials | $3.9M | 0.5% | 18K | New | |||
| 37 | $XZO | Exzeo Group, Inc. | Technology | $3.8M | 0.5% | 224K | -67% | |||
| 38 | $ECPG | ENCORE CAPITAL GROUP INC | Financials | $3.6M | 0.5% | 38K | -6% | |||
| 39 | $RGA | REINSURANCE GROUP OF AMERICA INC | Financials | $3.4M | 0.4% | 16K | +65% | |||
| 40 | $TOL | Toll Brothers, Inc. | Industrials | $3.1M | 0.4% | 19K | +60% | |||
| 41 | $ETOR | eToro Group Ltd. | Financials | $2.9M | 0.4% | 73K | New | |||
| 42 | $MAIN | Main Street Capital CORP | Other | $2.8M | 0.4% | 53K | -22% | |||
| 43 | $FR | FIRST INDUSTRIAL REALTY TRUST INC | Real Estate | $2.7M | 0.3% | 44K | +4% | |||
| 44 | $AJG | Arthur J. Gallagher & Co. | Financials | $2.7M | 0.3% | 12K | New | |||
| 45 | $CTO | CTO Realty Growth, Inc. | Real Estate | $2.6M | 0.3% | 121K | +4% | |||
| 46 | $MSIF | MSC INCOME FUND, INC. | Other | $2.4M | 0.3% | 206K | +21% | |||
| 47 | $ABCB | Ameris Bancorp | Financials | $2.4M | 0.3% | 26K | -80% | |||
| 48 | $UDR | UDR, Inc. | Real Estate | $2.4M | 0.3% | 59K | New | |||
| 49 | $IVT | InvenTrust Properties Corp. | Real Estate | $2.4M | 0.3% | 67K | -41% | |||
| 50 | $HLI | HOULIHAN LOKEY, INC. | Financials | $2.3M | 0.3% | 17K | New | |||
| 51 | $BRX | Brixmor Property Group Inc. | Real Estate | $2.2M | 0.3% | 71K | +52% | |||
| 52 | $SKWD | Skyward Specialty Insurance Group, Inc. | Financials | $2.2M | 0.3% | 37K | -61% | |||
| 53 | $TRTX | TPG RE Finance Trust, Inc. | Real Estate | $2.1M | 0.3% | 250K | New | |||
| 54 | $FHI | FEDERATED HERMES, INC. | Financials | $2.1M | 0.3% | 38K | +263% | |||
| 55 | $GL | GLOBE LIFE INC. | Financials | $2.1M | 0.3% | 12K | +12% | |||
| 56 | $ALLY | Ally Financial Inc. | Financials | $1.9M | 0.3% | 42K | New | |||
| 57 | $EGP | EASTGROUP PROPERTIES INC | Real Estate | $1.9M | 0.3% | 9,402 | +19% | |||
| 58 | $DAVE | Dave Inc./DE | Financials | $1.5M | 0.2% | 3,900 | -53% | |||
| 59 | $RWT | REDWOOD TRUST INC | Real Estate | $1.4M | 0.2% | 304K | New | |||
| 60 | $HCI | HCI Group, Inc. | Financials | $1.4M | 0.2% | 7,787 | -79% | |||
| 61 | $SYF | Synchrony Financial | Financials | $1.3M | 0.2% | 17K | +96% | |||
| 62 | $XYZ | Block, Inc. | Technology | $1.2M | 0.2% | 16K | New | |||
| 63 | $BEN | FRANKLIN TEMPLETON INC | Financials | $1.1M | 0.1% | 33K | -61% | |||
| 64 | $COF | CAPITAL ONE FINANCIAL CORP | Financials | $947K | 0.1% | 4,718 | +10% | |||
| 65 | $MA | Mastercard Inc | Financials | $930K | 0.1% | 1,810 | +19% | |||
| 66 | $PDM | Piedmont Realty Trust, Inc. | Real Estate | $917K | 0.1% | 100K | New | |||
| 67 | $DRH | DiamondRock Hospitality Co | Real Estate | $848K | 0.1% | 70K | New | |||
| 68 | $THG | HANOVER INSURANCE GROUP, INC. | Financials | $847K | 0.1% | 3,957 | -82% | |||
| 69 | $AFRM | Affirm Holdings, Inc. | Financials | $846K | 0.1% | 10K | New | |||
| 70 | $PSTL | Postal Realty Trust, Inc. | Real Estate | $836K | 0.1% | 34K | — | |||
| 71 | $RKT | Rocket Companies, Inc. | Financials | $784K | 0.1% | 50K | New | |||
| 72 | $SLDE | Slide Insurance Holdings, Inc. | Financials | $770K | 0.1% | 40K | New | |||
| 73 | $EG | EVEREST GROUP, LTD. | Financials | $767K | 0.1% | 2,147 | New | |||
| 74 | $CHYM | Chime Financial, Inc. | Financials | $750K | 0.1% | 37K | New | |||
| 75 | $NP | Neptune Insurance Holdings Inc. | Financials | $724K | 0.1% | 23K | +6% | |||
| 76 | $V | VISA INC. | Financials | $693K | 0.1% | 2,020 | — | |||
| 77 | $AMH | American Homes 4 Rent | Real Estate | $679K | 0.1% | 20K | New | |||
| 78 | $SPNT | SiriusPoint Ltd | Financials | $677K | 0.1% | 28K | -36% | |||
| 79 | $EFSC | ENTERPRISE FINANCIAL SERVICES CORP | Financials | $671K | 0.1% | 10K | — | |||
| 80 | $AFG | AMERICAN FINANCIAL GROUP INC | Financials | $669K | 0.1% | 4,782 | New | |||
| 81 | $JAN | Janus Living, Inc. | Real Estate | $619K | 0.1% | 22K | New | |||
| 82 | $ACIW | ACI WORLDWIDE, INC. | Technology | $601K | 0.1% | 12K | — | |||
| 83 | $ELV | Elevance Health, Inc. | Healthcare | $554K | 0.1% | 1,433 | New | |||
| 84 | $BFH | BREAD FINANCIAL HOLDINGS, INC. | Financials | $543K | 0.1% | 5,007 | +44% | |||
| 85 | $XHR | Xenia Hotels & Resorts, Inc. | Consumer Discretionary | $535K | 0.1% | 26K | +12% | |||
| 86 | $RPC | Ridgepost Capital, Inc. | Financials | $527K | 0.1% | 67K | +503% | |||
| 87 | $RHP | Ryman Hospitality Properties, Inc. | Real Estate | $524K | 0.1% | 4,078 | -24% | |||
| 88 | $CPT | CAMDEN PROPERTY TRUST | Real Estate | $520K | 0.1% | 4,539 | New | |||
| 89 | $CG | Carlyle Group Inc. | Financials | $512K | 0.1% | 12K | +72% | |||
| 90 | $CDP | COPT DEFENSE PROPERTIES | Real Estate | $506K | 0.1% | 14K | — | |||
| 91 | $MCY | MERCURY GENERAL CORP | Financials | $499K | 0.1% | 4,682 | New | |||
| 92 | $KLAR | Klarna Group plc | Financials | $497K | 0.1% | 25K | New | |||
| 93 | $LXP | LXP Industrial Trust | Real Estate | $493K | 0.1% | 9,150 | New | |||
| 94 | $RLJ | RLJ Lodging Trust | Real Estate | $492K | 0.1% | 42K | New | |||
| 95 | $MKL | MARKEL GROUP INC. | Financials | $490K | 0.1% | 251 | +24% | |||
| 96 | $IRM | IRON MOUNTAIN INC | Real Estate | $482K | 0.1% | 3,814 | New | |||
| 97 | $TRU | TransUnion | Financials | $441K | 0.1% | 6,113 | -51% | |||
| 98 | $AIZ | ASSURANT, INC. | Financials | $423K | 0.1% | 1,576 | New | |||
| 99 | $UHT | UNIVERSAL HEALTH REALTY INCOME TRUST | Real Estate | $413K | 0.1% | 9,409 | — | |||
| 100 | $GSHD | Goosehead Insurance, Inc. | Financials | $384K | 0.1% | 7,925 | New | |||
| 101 | $JHG | Janus Henderson Group Ltd. | Financials | $375K | 0.1% | 7,224 | — | |||
| 102 | $FVR | FrontView REIT, Inc. | Real Estate | $374K | 0.1% | 18K | New | |||
| 103 | $OSG | OCTAVE SPECIALTY GROUP INC | Financials | $362K | 0.1% | 58K | New | |||
| 104 | $CURB | Curbline Properties Corp. | Real Estate | $359K | 0.1% | 12K | -52% | |||
| 105 | $SHO | Sunstone Hotel Investors, Inc. | Consumer Discretionary | $330K | 0.0% | 29K | +118% | |||
| 106 | $EPRT | ESSENTIAL PROPERTIES REALTY TRUST, INC. | Real Estate | $315K | 0.0% | 11K | -40% | |||
| 107 | $BNL | Broadstone Net Lease, Inc. | Real Estate | $306K | 0.0% | 15K | — | |||
| 108 | $BOW | Bowhead Specialty Holdings Inc. | Financials | $252K | 0.0% | 8,405 | New | |||
| 109 | $MAC | MACERICH CO | Real Estate | $245K | 0.0% | 9,738 | New | |||
| 110 | $CB | Chubb Ltd | Financials | $243K | 0.0% | 712 | New | |||
| 111 | $MAA | MID AMERICA APARTMENT COMMUNITIES INC. | Real Estate | $238K | 0.0% | 1,713 | -84% | |||
| 112 | $PFG | PRINCIPAL FINANCIAL GROUP INC | Financials | $235K | 0.0% | 2,181 | New | |||
| 113 | $BXP | BXP, Inc. | Real Estate | $234K | 0.0% | 3,533 | New | |||
| 114 | $CUBE | CubeSmart | Real Estate | $231K | 0.0% | 5,806 | -52% | |||
| 115 | $CNC | CENTENE CORP | Healthcare | $224K | 0.0% | 3,497 | New | |||
| 116 | $PK | Park Hotels & Resorts Inc. | Consumer Discretionary | $222K | 0.0% | 16K | New | |||
| 117 | $JXN | Jackson Financial Inc. | Financials | $220K | 0.0% | 2,148 | — | |||
| 118 | $GEN | Gen Digital Inc. | Technology | $216K | 0.0% | 8,661 | New | |||
| 119 | $SBAC | SBA COMMUNICATIONS CORP | Real Estate | $212K | 0.0% | 1,200 | New | |||
| 120 | $BHR | Braemar Hotels & Resorts Inc. | Real Estate | $97K | 0.0% | 45K | +8% |
What changed in Q2 2026
Against the previous quarter's 13F: 47 new, 30 added to, 27 trimmed, 53 sold out. Share-count changes; largest moves by dollar size first.
New positions (47)
first bought this quarter
first bought this quarter
first bought this quarter
$WFCWELLS FARGO & COMPANY/MN$6.7M
first bought this quarter
$FAFFirst American Financial Corp$6.3M
first bought this quarter
$SKYChampion Homes, Inc.$4.4M
first bought this quarter
+41 more in the Excel export
Added to (30)
- TOWNEBANK - COM+80%
now $36.5M
now $18.2M · held 4 qtrs, 2 adds in a row
now $29.2M · held 3 qtrs, 3 adds in a row
now $54.5M · held 10+ qtrs
now $8.2M · held 5 qtrs, 2 adds in a row
now $24.2M · held 2 qtrs, 2 adds in a row
+24 more in the Excel export
Trimmed (27)
now $41.9M · held 10+ qtrs, 2 trims in a row
now $43.9M · held 4 qtrs, 2 trims in a row
$ABCBAmeris Bancorp-80%
now $2.4M · held 2 qtrs
$XZOExzeo Group, Inc.-67%
now $3.8M · held 3 qtrs
$HCIHCI Group, Inc.-79%
now $1.4M · held 10+ qtrs
now $45.9M · held 4 qtrs
+21 more in the Excel export
Sold out (53)
$EBCEastern Bankshares, Inc.was $34.1M
held 3 qtrs
$RBBRBB Bancorpwas $32.3M
held 9+ qtrs
$BKUBankUnited, Inc.was $17.2M
held 1 qtr
$ONBOLD NATIONAL BANCORP /IN/was $15.8M
held 8 qtrs
$SMBCSOUTHERN MISSOURI BANCORP, INC.was $12.9M
held 9+ qtrs
$INDBINDEPENDENT BANK CORPwas $12.5M
+47 more in the Excel export
Holdings by quarter
Every 13F FJ Capital Management LLC has filed, 40 earlier quarters. Pick one to see what it held then.
Is it too late to follow FJ Capital Management?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 27, 2026.
Average quality of FJ Capital Management's top 20 holdings: 62/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
-4.3%
Value-weighted move of the 10 largest stock positions
Turnover
23%
Last quarter; 111% over the last 4
Top 10 weight
53%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
70%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
FJ Capital Management LLC disclosed 120 positions worth $770.4M in its Form 13F-HR for Q2 2026, led by $SFST (SOUTHERN FIRST BANCSHARES INC) at 7.1% of the equity portfolio, followed by $EQBK and $NIC. During the quarter the fund opened 47 new positions and exited 53 — including a new stake in $BOH and a full exit from $EBC. The portfolio is most concentrated in Financials (84.6% of disclosed assets). All figures are sourced directly from FJ Capital Management LLC’s Form 13F-HR filing with the SEC under CIK 1599170.
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