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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
+6.59%
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
$937M
AUM Growth
-$6.38M
Cap. Flow
-$63.8M
Cap. Flow %
-6.82%
Top 10 Hldgs %
41.7%
Holding
194
New
66
Increased
45
Reduced
27
Closed
52

Top Buys

Rank Stock Value
1
WSBC icon
WesBanco
WSBC
+$18.5M
2
EBC icon
Eastern Bankshares
EBC
+$16.1M
3
FRME icon
First Merchants
FRME
+$11.8M
4
BAC icon
Bank of America
BAC
+$10.6M
5
PB icon
Prosperity Bancshares
PB
+$9.96M

Top Sells

Rank Stock Value
1
ABCB icon
Ameris Bancorp
ABCB
+$39M
2
WAL icon
Western Alliance Bancorporation
WAL
+$31.7M
3
HTBK
Heritage Commerce
HTBK
+$23.3M
4
BANC icon
Banc of California
BANC
+$19.2M
5
INDB icon
Independent Bank
INDB
+$18.4M

Sector Composition

Rank Sector Weight
1 Financials 90.42%
2 Real Estate 7.25%
3 Consumer Discretionary 1.89%
4 Technology 0.24%
5 Healthcare 0.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AKR icon
51
Acadia Realty Trust
AKR
$2.97B
$4.13M 0.44%
205,209
+115,470
+129% +$2.23M
TOL icon
52
Toll Brothers
TOL
$14.3B
$4.04M 0.43%
+29,258
New +$3.82M
ICE icon
53
Intercontinental Exchange
ICE
$83.8B
$3.9M 0.42%
+23,146
New +$4.14M
HTGC icon
54
Hercules Capital
HTGC
$3.16B
$3.86M 0.41%
203,991
+53,556
+36% +$1.03M
NLY icon
55
Annaly Capital Management
NLY
$17.1B
$3.74M 0.4%
185,233
+132,437
+251% +$2.75M
GL icon
56
Globe Life
GL
$14.3B
$3.69M 0.39%
25,828
+15,077
+140% +$2.04M
IVT icon
57
InvenTrust Properties
IVT
$2.66B
$3.56M 0.38%
+124,373
New +$3.52M
RDN icon
58
Radian Group
RDN
$5.27B
$3.56M 0.38%
+98,159
New +$3.42M
LXP icon
59
LXP Industrial Trust
LXP
$3.57B
$3.53M 0.38%
+78,906
New +$3.39M
ABR icon
60
Arbor Realty Trust
ABR
$974M
$3.28M 0.35%
+268,673
New +$3.13M
AHR icon
61
American Healthcare REIT
AHR
$10.5B
$3.27M 0.35%
77,881
+14,887
+24% +$598K
VOYA icon
62
Voya Financial
VOYA
$9.13B
$3.25M 0.35%
43,507
+37,867
+671% +$2.79M
C icon
63
Citigroup
C
$230B
$3.25M 0.35%
+31,975
New +$3.03M
MRX
64
Marex Group Limited Ordinary Shares
MRX
$4.61B
$3.22M 0.34%
95,683
+32,987
+53% +$1.19M
UMBF icon
65
UMB Financial
UMBF
$11.3B
$3.14M 0.34%
+26,549
New +$3.06M
ARI
66
Apollo Commercial Real Estate
ARI
$889M
$3.04M 0.32%
299,904
+134,587
+81% +$1.37M
SF
67
Stifel
SF
$12.7B
$2.95M 0.31%
+38,967
New +$2.92M
FVCB icon
68
FVCBankcorp
FVCB
$342M
$2.88M 0.31%
221,956
-410,946
-65% -$5.4M
FSFG
69
DELISTED
First Savings Financial Group
FSFG
$2.88M 0.31%
91,479
-191,385
-68% -$5.14M
RYAN icon
70
Ryan Specialty Holdings
RYAN
$5.77B
$2.7M 0.29%
+47,822
New +$2.83M
HLI icon
71
Houlihan Lokey
HLI
$8.96B
$2.44M 0.26%
11,860
-222
-2% -$43.5K
MAA icon
72
Mid-America Apartment Communities
MAA
$15.5B
$2.22M 0.24%
15,874
-700
-4% -$101K
SLM icon
73
SLM Corp
SLM
$5.24B
$2.2M 0.23%
+79,309
New +$2.48M
BFC icon
74
Bank First Corp
BFC
$1.73B
$2.14M 0.23%
+17,662
New +$2.2M
NIC icon
75
Nicolet Bankshares
NIC
$3.67B
$2.12M 0.23%
+15,753
New +$2.09M
1 2
3
4 5

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FJ Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, FJ Capital Management held 194 positions worth $937M, down 0.68% from $943M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

FJ Capital Management withdrew a net $63.8M in Q3 2025, closing 52 positions and reducing 27 holdings. Its most notable exit was Ameris Bancorp, an estimated $39M position sold in full.

By sector, the portfolio is most concentrated in Financials at 90% of assets, down from 95% a quarter earlier, followed by Real Estate and Consumer Discretionary.

Against the trend, FJ Capital Management opened a new position in Eastern Bankshares worth $17.7M.

  • FJ Capital Management's largest Q3 2025 buy was Eastern Bankshares: 976,342 shares worth $17.7M.
  • FJ Capital Management added most to WesBanco in Q3 2025, an estimated $18.5M increase.
  • FJ Capital Management's biggest Q3 2025 reduction was Western Alliance Bancorporation, cutting an estimated $31.7M.
  • FJ Capital Management fully exited Ameris Bancorp in Q3 2025, selling an estimated $39M.
  • FJ Capital Management's ten largest holdings make up 42% of its $937M portfolio in Q3 2025.
  • FJ Capital Management opened 66 new positions and closed 52 in Q3 2025.
  • FJ Capital Management's portfolio value fell 0.68% quarter-over-quarter to $937M.

Based on FJ Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.