FJ Capital Management LLC

CIK

1599170

Location

MCLEAN, VA

Portfolio Value

Small $869,801,440

Diversification

Diversified

Filing Date

Global Rank

#1,913 / 8,605 ▲ 66 · as of Mar 2026

Top Industry

Banks - Regional 78.4%

3Y Alpha vs SPY

+5.5%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+100.0%

SPY

+76.5%

Annualised alpha

+5.1%

Max drawdown

−23.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

125 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

8.3%

−0.6 pts

Top 5

30.9%

−2.5 pts

Top 10

49.4%

−1.5 pts

HHI

329

Diversified−29

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	92.4%	$803,590,893	83
Real Estate	6.4%	$55,849,413	35
Consumer Cyclical	0.7%	$5,821,355	2
Healthcare	0.3%	$2,403,291	2
Technology	0.2%	$1,931,493	2
Industrials	0.0%	$204,995	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
EBC	Eastern Bankshares, Inc.	+815,023	1,741,864	$34,070,859
BCAL	California BanCorp \ CA	+782,898	2,054,534	$36,406,342
CVBF	Cvb Financial Corp	+576,294	851,426	$16,509,150
XZO	Exzeo Group, Inc.	+444,584	682,440	$10,011,394
NIC	Nicolet Bankshares Inc	+285,960	306,381	$45,534,344
HBNC	Horizon Bancorp Inc /In/	+207,368	1,291,208	$21,395,316
BXMT	Blackstone Mortgage Trust, Inc.	+128,911	160,596	$3,075,413
HTGC	Hercules Capital, Inc.	+107,682	277,666	$4,101,126
NLY	Annaly Capital Management Inc	+92,764	165,250	$3,495,037
CNO	CNO Financial Group, Inc.	+92,616	131,679	$5,406,739
SYBT	Stock Yards Bancorp, Inc.	+86,498	92,849	$6,154,960
FRME	First Merchants Corp	+77,757	711,425	$27,553,490
PLMR	Palomar Holdings, Inc.	+41,569	45,433	$5,429,243
CTO	CTO Realty Growth, Inc.	+26,634	116,343	$2,151,182
JLL	Jones Lang Lasalle Inc	+20,107	31,881	$9,702,025
HCI	HCI Group, Inc.	+18,268	37,287	$5,764,943
UMBF	Umb Financial Corp	+17,191	43,740	$4,933,434
DLR	Digital Realty Trust, Inc.	+15,438	20,829	$3,753,594
AXS	Axis Capital Holdings Ltd	+14,911	19,825	$2,010,453
NP	Neptune Insurance Holdings Inc.	+11,846	21,769	$526,592
PSTL	Postal Realty Trust, Inc.	+10,440	33,921	$629,573
AHR	American Healthcare REIT, Inc.	+7,794	58,592	$2,763,198
DAVE	Dave Inc./DE	+6,460	8,280	$1,441,465
FHI	Federated Hermes, Inc.	+5,976	10,359	$587,458
PHM	Pultegroup Inc/Mi/	+4,644	35,719	$4,200,911
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SBCF	Seacoast Banking Corp Of Florida	−455,624	906,053	$27,444,345
RPC	Ridgepost Capital, Inc.	−446,367	11,107	$80,636
OSBC	Old Second Bancorp Inc	−324,563	1,505,102	$30,342,856
EQBK	Equity Bancshares Inc	−304,613	921,074	$40,904,896
USB	US Bancorp De	−275,318	98,115	$5,102,961
IBCP	Independent Bank Corp /Mi/	−181,481	203,607	$6,780,113
AKR	Acadia Realty Trust	−140,945	106,677	$2,039,664
HTB	HomeTrust Bancshares, Inc.	−139,128	1,554,425	$66,296,226
WSBC	Wesbanco Inc	−103,293	243,843	$8,410,145
QCRH	Qcr Holdings Inc	−100,297	32,601	$2,785,755
SMBC	Southern Missouri Bancorp, Inc.	−98,517	202,427	$12,943,182
INDB	Independent Bank Corp	−64,880	165,653	$12,458,762
SKWD	Skyward Specialty Insurance Group, Inc.	−50,357	94,379	$4,122,474
SSB	SouthState Bank Corp	−34,406	778,627	$72,038,570
VOYA	Voya Financial, Inc.	−31,814	3,501	$239,188
SPNT	SiriusPoint Ltd	−26,698	44,143	$950,840
GL	Globe Life Inc.	−24,718	10,347	$1,439,991
CURB	Curbline Properties Corp.	−23,721	24,653	$635,800
MS	Morgan Stanley	−18,670	56,089	$9,230,566
NTST	NETSTREIT Corp.	−18,231	10,966	$206,489
THG	Hanover Insurance Group, Inc.	−14,892	22,535	$3,906,442
EQR	Equity Residential	−14,165	3,770	$222,995
RGA	Reinsurance Group Of America Inc	−13,639	9,722	$1,984,843
IVT	InvenTrust Properties Corp.	−12,420	111,953	$3,410,088
ACIW	Aci Worldwide, Inc.	−6,050	11,949	$490,028
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
HBAN	Huntington Bancshares Inc /Md/	1,116,816	$17,478,170
BKU	BankUnited, Inc.	380,554	$17,185,818
NTRS	Northern Trust Corp	79,026	$11,029,658
ABCB	Ameris Bancorp	134,868	$10,518,355
BAC	Bank Of America Corp /De/	189,376	$9,232,080
CFG	Citizens Financial Group Inc/Ri	125,939	$7,552,561
SFBS	ServisFirst Bancshares, Inc.	79,906	$5,819,553
SCHW	Schwab Charles Corp	61,883	$5,815,764
VIRT	Virtu Financial, Inc.	125,790	$5,532,244
AMTB	Amerant Bancorp Inc.	245,913	$5,419,922
ESNT	Essent Group Ltd.	75,024	$4,384,402
OMF	OneMain Holdings, Inc.	75,795	$4,054,274
NDAQ	Nasdaq, Inc.	42,372	$3,596,959
MAIN	Main Street Capital CORP	67,667	$3,583,644
EQIX	Equinix Inc	3,563	$3,492,595
EGBN	Eagle Bancorp Inc	126,895	$3,155,878
ECPG	Encore Capital Group Inc	40,732	$2,856,127
PNC	Pnc Financial Services Group, Inc.	12,467	$2,594,258
AUB	Atlantic Union Bankshares Corp	72,243	$2,581,964
MSIF	Msc Income Fund, Inc.	171,058	$2,083,486
HOOD	Robinhood Markets, Inc.	29,263	$2,027,925
BEN	Franklin Resources Inc	85,724	$2,024,800
UNM	Unum Group	26,346	$1,924,048
TOL	Toll Brothers, Inc.	11,874	$1,620,444
SNDA	Sonida Senior Living, Inc.	45,472	$1,466,472
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
WAL	Western Alliance Bancorporation	432,672	$36,374,735
WBS	Webster Financial Corp	384,743	$24,215,724
ZION	Zions Bancorporation, National Association /Ut/	239,124	$13,998,318
NMRK	Newmark Group, Inc.	418,973	$7,264,991
CINF	Cincinnati Financial Corp	32,836	$5,362,775
CME	Cme Group Inc.	19,187	$5,239,585
LNKB	LINKBANCORP, Inc.	596,930	$4,930,641
SF	Stifel Financial Corp	58,497	$4,883,329
TCBK	Trico Bancshares /	92,492	$4,381,346
GABC	German American Bancorp, Inc.	109,019	$4,271,364
WLTH	Wealthfront Corp	314,187	$4,269,801
LXP	LXP Industrial Trust	83,499	$4,139,880
PFSI	PennyMac Financial Services, Inc.	28,562	$3,765,614
ETOR	eToro Group Ltd.	104,861	$3,683,766
MKTX	Marketaxess Holdings Inc	20,252	$3,670,675
AII	American Integrity Insurance Group, Inc.	153,491	$3,197,217
MRX	Marex Group plc	81,199	$3,114,793
SKY	Champion Homes, Inc.	35,462	$2,996,539
EZPW	Ezcorp Inc	133,526	$2,593,074
CSWC	Capital Southwest Corp	92,685	$2,052,972
MRP	Millrose Properties, Inc.	53,978	$1,612,322
ALRS	Alerus Financial Corp	67,134	$1,511,857
FBP	First Bancorp /Pr/	66,625	$1,381,136
KINS	Kingstone Companies, Inc.	78,256	$1,317,048
TSLX	Sixth Street Specialty Lending, Inc.	58,423	$1,268,947
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

125 positions · $869,801,440 total · as of Mar 31, 2026

All sectors Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 125 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SSB	SouthState Bank Corp Financial Services	Reduced	778,627	-34,406	$72,038,570	−5.8%	8.28%
HTB	HomeTrust Bancshares, Inc. Financial Services	Reduced	1,554,425	-139,128	$66,296,226	−8.8%	7.62%
NIC	Nicolet Bankshares Inc Financial Services	Added	306,381	+285,960	$45,534,344	+1738.2%	5.24%
SFST	Southern First Bancshares Inc Financial Services	Held	807,223	0	$43,993,653	+5.8%	5.06%
EQBK	Equity Bancshares Inc Financial Services	Reduced	921,074	-304,613	$40,904,896	−25.3%	4.70%
BCAL	California BanCorp \ CA Financial Services	Added	2,054,534	+782,898	$36,406,342	+53.3%	4.19%
EBC	Eastern Bankshares, Inc. Financial Services	Added	1,741,864	+815,023	$34,070,859	+99.5%	3.92%
RBB	RBB Bancorp Financial Services	Held	1,511,408	0	$32,298,788	+3.5%	3.71%
OSBC	Old Second Bancorp Inc Financial Services	Reduced	1,505,102	-324,563	$30,342,856	−15.0%	3.49%
FRME	First Merchants Corp Financial Services	Added	711,425	+77,757	$27,553,490	+16.0%	3.17%
SBCF	Seacoast Banking Corp Of Florida Financial Services	Reduced	906,053	-455,624	$27,444,345	−35.9%	3.16%
HBNC	Horizon Bancorp Inc /In/ Financial Services	Added	1,291,208	+207,368	$21,395,316	+16.4%	2.46%
HBAN	Huntington Bancshares Inc /Md/ Financial Services	NEW	1,116,816	NEW	$17,478,170	NEW	2.01%
BKU	BankUnited, Inc. Financial Services	NEW	380,554	NEW	$17,185,818	NEW	1.98%
CVBF	Cvb Financial Corp Financial Services	Added	851,426	+576,294	$16,509,150	+222.6%	1.90%
ONB	Old National Bancorp /In/ Financial Services	Held	717,018	0	$15,846,097	−0.9%	1.82%
SMBC	Southern Missouri Bancorp, Inc. Financial Services	Reduced	202,427	-98,517	$12,943,182	−27.3%	1.49%
INDB	Independent Bank Corp Financial Services	Reduced	165,653	-64,880	$12,458,762	−26.0%	1.43%
NTRS	Northern Trust Corp Financial Services	NEW	79,026	NEW	$11,029,658	NEW	1.27%
ABCB	Ameris Bancorp Financial Services	NEW	134,868	NEW	$10,518,355	NEW	1.21%
CBNA	Chain Bridge Bancorp Inc Financial Services	Held	293,788	0	$10,253,201	+0.8%	1.18%
XZO	Exzeo Group, Inc. Financial Services	Added	682,440	+444,584	$10,011,394	+73.6%	1.15%
AVBC	Avidia Bancorp, Inc. Financial Services	Held	497,258	0	$9,781,064	+17.0%	1.12%
JLL	Jones Lang Lasalle Inc Real Estate	Added	31,881	+20,107	$9,702,025	+144.9%	1.12%
BAC	Bank Of America Corp /De/ Financial Services	NEW	189,376	NEW	$9,232,080	NEW	1.06%
MS	Morgan Stanley Financial Services	Reduced	56,089	-18,670	$9,230,566	−30.5%	1.06%
WSBC	Wesbanco Inc Financial Services	Reduced	243,843	-103,293	$8,410,145	−27.1%	0.97%
JMSB	John Marshall Bancorp, Inc. Financial Services	Reduced	412,273	-672	$8,360,896	+1.3%	0.96%
CFG	Citizens Financial Group Inc/Ri Financial Services	NEW	125,939	NEW	$7,552,561	NEW	0.87%
IBCP	Independent Bank Corp /Mi/ Financial Services	Reduced	203,607	-181,481	$6,780,113	−45.9%	0.78%
HWBK	Hawthorn Bancshares, Inc. Financial Services	Held	190,710	0	$6,425,019	−3.4%	0.74%
SYBT	Stock Yards Bancorp, Inc. Financial Services	Added	92,849	+86,498	$6,154,960	+1392.1%	0.71%
SFBS	ServisFirst Bancshares, Inc. Financial Services	NEW	79,906	NEW	$5,819,553	NEW	0.67%
SCHW	Schwab Charles Corp Financial Services	NEW	61,883	NEW	$5,815,764	NEW	0.67%
HCI	HCI Group, Inc. Financial Services	Added	37,287	+18,268	$5,764,943	+58.1%	0.66%
VIRT	Virtu Financial, Inc. Financial Services	NEW	125,790	NEW	$5,532,244	NEW	0.64%
PLMR	Palomar Holdings, Inc. Financial Services	Added	45,433	+41,569	$5,429,243	+942.7%	0.62%
AMTB	Amerant Bancorp Inc. Financial Services	NEW	245,913	NEW	$5,419,922	NEW	0.62%
CNO	CNO Financial Group, Inc. Financial Services	Added	131,679	+92,616	$5,406,739	+225.9%	0.62%
USB	US Bancorp De Financial Services	Reduced	98,115	-275,318	$5,102,961	−74.4%	0.59%
UMBF	Umb Financial Corp Financial Services	Added	43,740	+17,191	$4,933,434	+61.5%	0.57%
ESNT	Essent Group Ltd. Financial Services	NEW	75,024	NEW	$4,384,402	NEW	0.50%
PHM	Pultegroup Inc/Mi/ Consumer Cyclical	Added	35,719	+4,644	$4,200,911	+15.3%	0.48%
SKWD	Skyward Specialty Insurance Group, Inc. Financial Services	Reduced	94,379	-50,357	$4,122,474	−44.3%	0.47%
HTGC	Hercules Capital, Inc. Financial Services	Added	277,666	+107,682	$4,101,126	+28.2%	0.47%
OMF	OneMain Holdings, Inc. Financial Services	NEW	75,795	NEW	$4,054,274	NEW	0.47%
THG	Hanover Insurance Group, Inc. Financial Services	Reduced	22,535	-14,892	$3,906,442	−42.9%	0.45%
WELL	Welltower Inc. Real Estate	Reduced	19,277	-1,698	$3,811,255	−2.1%	0.44%
HYNE	Hoyne Bancorp, Inc. Financial Services	Held	261,000	0	$3,777,975	−0.1%	0.43%
DLR	Digital Realty Trust, Inc. Real Estate	Added	20,829	+15,438	$3,753,594	+350.0%	0.43%