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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
PLMR icon
101
Palomar
PLMR
$3.58B
$521K 0.06%
+3,864
New +$472K
NTST
102
NETSTREIT Corp
NTST
$2.04B
$515K 0.06%
+29,197
New +$532K
PGR icon
103
Progressive
PGR
$123B
$502K 0.06%
+2,204
New +$498K
VTR icon
104
Ventas
VTR
$47.3B
$494K 0.05%
+6,390
New +$482K
SHOP icon
105
Shopify
SHOP
$192B
$489K 0.05%
+3,036
New +$487K
WPC icon
106
W.P. Carey
WPC
$16.3B
$456K 0.05%
7,091
-11,164
-61% -$743K
SYBT icon
107
Stock Yards Bancorp
SYBT
$2.63B
$412K 0.05%
+6,351
New +$427K
DAVE icon
108
Dave Inc
DAVE
$5.38B
$403K 0.04%
1,820
– –
SYF icon
109
Synchrony
SYF
$25.8B
$393K 0.04%
4,706
-11,164
-70% -$853K
PSTL
110
Postal Realty Trust
PSTL
$693M
$379K 0.04%
+23,481
New +$361K
FIS icon
111
Fidelity National Information Services
FIS
$22.2B
$373K 0.04%
5,609
– –
UHT
112
Universal Health Realty Income Trust
UHT
$584M
$369K 0.04%
9,409
– –
BX icon
113
Blackstone
BX
$109B
$317K 0.04%
+2,057
New +$313K
ARX
114
Accelerant Holdings
ARX
$2.68B
$294K 0.03%
+17,973
New +$253K
JXN icon
115
Jackson Financial
JXN
$9.36B
$292K 0.03%
2,737
-209
-7% -$20.8K
NP
116
Neptune Insurance Holdings
NP
$4.43B
$289K 0.03%
+9,923
New +$261K
COF icon
117
Capital One
COF
$136B
$289K 0.03%
+1,192
New +$265K
BNL icon
118
Broadstone Net Lease
BNL
$4.06B
$257K 0.03%
14,817
– –
ARES icon
119
Ares Management
ARES
$31.5B
$252K 0.03%
1,557
-6,736
-81% -$1.05M
BWIN
120
Baldwin Insurance Group
BWIN
$2.79B
$251K 0.03%
+10,454
New +$266K
EXR icon
121
Extra Space Storage
EXR
$31.5B
$245K 0.03%
1,884
-7,874
-81% -$1.07M
GEN icon
122
Gen Digital
GEN
$16.7B
$235K 0.03%
8,661
– –
FHI icon
123
Federated Hermes
FHI
$4.78B
$228K 0.03%
4,383
-496
-10% -$25.2K
FVCB icon
124
FVCBankcorp
FVCB
$342M
$224K 0.02%
16,116
-205,840
-93% -$2.63M
TPG icon
125
TPG
TPG
$7.68B
$217K 0.02%
3,405
-6,639
-66% -$392K
3 4
5
6 7

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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.