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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
+6%
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
$906M
AUM Growth
-$30.8M
Cap. Flow
-$82.7M
Cap. Flow %
-9.13%
Top 10 Hldgs %
49.3%
Holding
182
New
40
Increased
29
Reduced
40
Closed
54

Top Buys

Rank Stock Value
1
SSB icon
SouthState Bank Corp
SSB
+$26.4M
2
WAL icon
Western Alliance Bancorporation
WAL
+$20.9M
3
HBNC icon
Horizon Bancorp
HBNC
+$13.6M
4
FRME icon
First Merchants
FRME
+$12.6M
5
MS icon
Morgan Stanley
MS
+$12.5M

Top Sells

Rank Stock Value
1
LNKB
LINKBANCORP
LNKB
+$18.1M
2
WBS icon
Webster Financial
WBS
+$14.2M
3
FFWM
First Foundation Inc
FFWM
+$11.5M
4
BAC icon
Bank of America
BAC
+$11.2M
5
INDB icon
Independent Bank
INDB
+$10.5M

Sector Composition

Rank Sector Weight
1 Financials 92.33%
2 Real Estate 5.97%
3 Technology 0.83%
4 Consumer Discretionary 0.73%
5 Healthcare 0.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JMSB icon
26
John Marshall Bancorp
JMSB
$334M
$8.25M 0.91%
412,945
-16,963
-4% -$334K
SKWD icon
27
Skyward Specialty Insurance
SKWD
$2.47B
$7.4M 0.82%
144,736
+119,269
+468% +$5.73M
SF
28
Stifel
SF
$12.7B
$7.32M 0.81%
87,746
+48,779
+125% +$3.9M
NMRK icon
29
Newmark Group
NMRK
$2.72B
$7.26M 0.8%
418,973
+335,594
+402% +$5.88M
THG icon
30
Hanover Insurance
THG
$8.09B
$6.84M 0.76%
37,427
-28,390
-43% -$5.11M
HWBK icon
31
Hawthorn Bancshares
HWBK
$271M
$6.65M 0.73%
190,710
– –
TOWN icon
32
Towne Bank
TOWN
$3.48B
$6.09M 0.67%
182,586
-39,873
-18% -$1.34M
XZO
33
Exzeo Group
XZO
$1.45B
$5.77M 0.64%
+237,856
New +$4.52M
CINF icon
34
Cincinnati Financial
CINF
$27.3B
$5.36M 0.59%
32,836
-11,835
-26% -$1.92M
CME icon
35
CME Group
CME
$95.7B
$5.24M 0.58%
19,187
+13,794
+256% +$3.75M
CVBF icon
36
CVB Financial
CVBF
$4.03B
$5.12M 0.57%
+275,132
New +$5.26M
AKR icon
37
Acadia Realty Trust
AKR
$3.07B
$5.09M 0.56%
247,622
+42,413
+21% +$845K
LNKB
38
DELISTED
LINKBANCORP
LNKB
$4.93M 0.54%
596,930
-2,402,842
-80% -$18.1M
GL icon
39
Globe Life
GL
$14.3B
$4.9M 0.54%
35,065
+9,237
+36% +$1.25M
RGA icon
40
Reinsurance Group of America
RGA
$15.5B
$4.75M 0.52%
23,361
+895
+4% +$173K
RPC
41
Ridgepost Capital
RPC
$1B
$4.49M 0.5%
457,474
+301,639
+194% +$3.06M
TCBK icon
42
TriCo Bancshares
TCBK
$1.85B
$4.38M 0.48%
+92,492
New +$4.24M
GABC icon
43
German American Bancorp
GABC
$1.92B
$4.27M 0.47%
109,019
-3,561
-3% -$140K
WLTH
44
Wealthfront Corp
WLTH
$1.44B
$4.27M 0.47%
+314,187
New +$4.17M
LXP icon
45
LXP Industrial Trust
LXP
$3.56B
$4.14M 0.46%
83,499
+4,593
+6% +$220K
JLL icon
46
Jones Lang LaSalle
JLL
$16.8B
$3.96M 0.44%
11,774
-13,538
-53% -$4.24M
WELL icon
47
Welltower
WELL
$168B
$3.89M 0.43%
20,975
-7,870
-27% -$1.47M
HYNE
48
Hoyne Bancorp
HYNE
$121M
$3.78M 0.42%
+261,000
New +$3.62M
PFSI icon
49
PennyMac Financial
PFSI
$3.97B
$3.77M 0.42%
28,562
-22,997
-45% -$2.93M
ETOR
50
eToro Group
ETOR
$2.9B
$3.68M 0.41%
+104,861
New +$4.05M
1
2
3 4 5

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FJ Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, FJ Capital Management held 182 positions worth $906M, down 3.3% from $937M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

FJ Capital Management withdrew a net $82.7M in Q4 2025, closing 54 positions and reducing 40 holdings. Its most notable exit was First Foundation Inc, an estimated $11.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 92% of assets, up from 90% a quarter earlier, followed by Real Estate and Technology.

Against the trend, FJ Capital Management opened a new position in Morgan Stanley worth $13.3M.

  • FJ Capital Management's largest Q4 2025 buy was Morgan Stanley: 74,759 shares worth $13.3M.
  • FJ Capital Management added most to SouthState Bank Corp in Q4 2025, an estimated $26.4M increase.
  • FJ Capital Management's biggest Q4 2025 reduction was LINKBANCORP, cutting an estimated $18.1M.
  • FJ Capital Management fully exited First Foundation Inc in Q4 2025, selling an estimated $11.5M.
  • FJ Capital Management's ten largest holdings make up 49% of its $906M portfolio in Q4 2025.
  • FJ Capital Management opened 40 new positions and closed 54 in Q4 2025.
  • FJ Capital Management's portfolio value fell 3.3% quarter-over-quarter to $906M.

Based on FJ Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.