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FCM

FJ Capital Management Portfolio holdings

AUM $888M
1-Year Est. Return 18.97%
This Fund
S&P 500
This Quarter Est. Return
-0.08%
1 Year Est. Return
+18.97%
3 Year Est. Return
+63.88%
5 Year Est. Return
+48.18%
10 Year Est. Return
+191.97%
AUM
$836M
AUM Growth
-$205M
Cap. Flow
-$181M
Cap. Flow %
-21.61%
Top 10 Hldgs %
38.8%
Holding
111
New
16
Increased
13
Reduced
39
Closed
18

Top Buys

Rank Stock Value
1
FBMS
The First Bancshares, Inc.
FBMS
+$28.8M
2
CCNE icon
CNB Financial Corp
CCNE
+$13.1M
3
LNKB
LINKBANCORP
LNKB
+$10.7M
4
HTB
HomeTrust Bancshares
HTB
+$7.07M
5
RBB icon
RBB Bancorp
RBB
+$4.15M

Top Sells

Rank Stock Value
1
LBAI
Lakeland Bancorp Inc
LBAI
+$35.1M
2
STEL
Stellar Bancorp
STEL
+$32M
3
WTFC icon
Wintrust Financial
WTFC
+$28.7M
4
ONB icon
Old National Bancorp
ONB
+$28.5M
5
BANC icon
Banc of California
BANC
+$15.8M

Sector Composition

Rank Sector Weight
1 Financials 97.68%
2 Real Estate 0.74%
3 Technology 0.38%
4 Industrials 0.11%
5 Consumer Discretionary 0.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMNB
26
DELISTED
American National Bankshares Inc
AMNB
$12.6M 1.51%
394,000
– –
SBT
27
DELISTED
Sterling Bancorp, Inc. Common Stock
SBT
$12.5M 1.49%
2,072,000
+518,000
+33% +$3.08M
CCNE icon
28
CNB Financial Corp
CCNE
$1.04B
$12M 1.44%
+511,000
New +$13.1M
STEL
29
DELISTED
Stellar Bancorp
STEL
$12M 1.44%
411,000
-1,065,000
-72% -$32M
CHMG icon
30
Chemung Financial Corp
CHMG
$393M
$12M 1.44%
287,000
-21,000
-7% -$943K
CZWI icon
31
Citizens Community Bancorp
CZWI
$212M
$11.6M 1.38%
952,000
– –
EVBN
32
DELISTED
Evans Bancorp Inc
EVBN
$11M 1.31%
300,000
-205,000
-41% -$7.5M
LNKB
33
DELISTED
LINKBANCORP
LNKB
$10.7M 1.27%
+1,421,000
New +$10.7M
CSTR
34
DELISTED
CapStar Financial Holdings, Inc
CSTR
$10.5M 1.26%
568,000
-70,000
-11% -$1.42M
PFC
35
DELISTED
Premier Financial Corp. Common Stock
PFC
$10.5M 1.26%
409,000
– –
MYFW icon
36
First Western Financial
MYFW
$304M
$9.1M 1.09%
369,000
– –
SAL
37
DELISTED
Salisbury Bancorp, Inc.
SAL
$8.66M 1.04%
362,000
-20,000
-5% -$475K
KRE icon
38
PUT
State Street SPDR S&P Regional Banking ETF
KRE
$4.5B
$8.34M 1%
34,000
-53,000
-61% -$3.31M
SFBC
39
Sound Financial Bancorp
SFBC
$112M
$8.25M 0.99%
204,000
– –
LMST
40
DELISTED
Limestone Bancorp, Inc. Common Stock
LMST
$7.68M 0.92%
391,000
-11,000
-3% -$215K
FSFG
41
DELISTED
First Savings Financial Group
FSFG
$7.18M 0.86%
313,000
– –
HMNF
42
DELISTED
HMN Financial Inc
HMNF
$6.35M 0.76%
283,000
– –
SBFG icon
43
SB Financial Group
SBFG
$164M
$6.29M 0.75%
374,000
-7,000
-2% -$121K
NBHC icon
44
National Bank Holdings
NBHC
$1.92B
$6M 0.72%
162,000
– –
BSVN icon
45
Bank7 Corp
BSVN
$479M
$5.44M 0.65%
245,000
-171,000
-41% -$4.03M
UBFO
46
DELISTED
United Security Bancshares
UBFO
$4.01M 0.48%
615,000
– –
PGR icon
47
Progressive
PGR
$123B
$2.52M 0.3%
22,000
-4,000
-15% -$482K
ONB icon
48
Old National Bancorp
ONB
$10.2B
$2.26M 0.27%
137,000
-1,707,000
-93% -$28.5M
BCML icon
49
BayCom
BCML
$329M
$2M 0.24%
114,000
-299,000
-72% -$5.78M
MOFG
50
DELISTED
MidWestOne Financial Group
MOFG
$1.81M 0.22%
67,000
– –
1
2
3 4 5

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FJ Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, FJ Capital Management held 111 positions worth $836M, down 20% from $1.04B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

FJ Capital Management withdrew a net $181M in Q3 2022, closing 18 positions and reducing 39 holdings. Its most notable exit was Wintrust Financial, an estimated $28.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 98% of assets, up from 94% a quarter earlier, followed by Real Estate and Technology.

Against the trend, FJ Capital Management opened a new position in CNB Financial Corp worth $12M.

  • FJ Capital Management's largest Q3 2022 buy was CNB Financial Corp: 511,000 shares worth $12M.
  • FJ Capital Management added most to The First Bancshares, Inc. in Q3 2022, an estimated $28.8M increase.
  • FJ Capital Management's biggest Q3 2022 reduction was Lakeland Bancorp Inc, cutting an estimated $35.1M.
  • FJ Capital Management fully exited Wintrust Financial in Q3 2022, selling an estimated $28.7M.
  • FJ Capital Management's ten largest holdings make up 39% of its $836M portfolio in Q3 2022.
  • FJ Capital Management opened 16 new positions and closed 18 in Q3 2022.
  • FJ Capital Management's portfolio value fell 20% quarter-over-quarter to $836M.

Based on FJ Capital Management's 13F filing for Q3 2022, filed 9 Nov 2022.