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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
HTB
1
HomeTrust Bancshares
HTB
$818M
$68.8M 7.35%
1,680,469
-52,408
-3% -$2.1M
SSB icon
2
SouthState Bank Corp
SSB
$10.4B
$52.2M 5.57%
527,942
-174,413
-25% -$17.1M
EQBK icon
3
Equity Bancshares
EQBK
$1.03B
$49.8M 5.31%
1,222,791
+96,695
+9% +$3.91M
WBS icon
4
Webster Financial
WBS
$12.3B
$37.1M 3.96%
624,464
-55,450
-8% -$3.3M
SBCF icon
5
Seacoast Banking Corp of Florida
SBCF
$3.26B
$36.8M 3.93%
1,209,996
+55,562
+5% +$1.65M
SFST icon
6
Southern First Bancshares
SFST
$582M
$35.6M 3.8%
807,223
– –
OSBC icon
7
Old Second Bancorp
OSBC
$1.24B
$33.2M 3.54%
1,919,934
+82,601
+4% +$1.49M
RBB icon
8
RBB Bancorp
RBB
$446M
$28.4M 3.03%
1,511,408
-254,675
-14% -$4.87M
INDB icon
9
Independent Bank
INDB
$4.05B
$26.2M 2.8%
378,739
-270,581
-42% -$18.4M
MOFG
10
DELISTED
MidWestOne Financial Group
MOFG
$22.5M 2.41%
796,883
+30,681
+4% +$895K
LNKB
11
DELISTED
LINKBANCORP
LNKB
$21.4M 2.28%
2,999,772
-728,888
-20% -$5.28M
BCAL icon
12
Southern California Bancorp
BCAL
$676M
$21.2M 2.26%
1,271,636
– –
WSBC icon
13
WesBanco
WSBC
$3.97B
$20.9M 2.23%
654,296
+579,211
+771% +$18.5M
EBC icon
14
Eastern Bankshares
EBC
$4.93B
$17.7M 1.89%
+976,342
New +$16.1M
ONB icon
15
Old National Bancorp
ONB
$10.1B
$17.1M 1.82%
777,226
+160,000
+26% +$3.54M
IBCP icon
16
Independent Bank Corp
IBCP
$776M
$17M 1.82%
550,194
-114,486
-17% -$3.7M
USB icon
17
US Bancorp
USB
$99.6B
$16.8M 1.8%
347,926
+197,338
+131% +$9.33M
QCRH icon
18
QCR Holdings
QCRH
$1.65B
$16.7M 1.78%
220,147
-76,383
-26% -$5.75M
SMBC icon
19
Southern Missouri Bancorp
SMBC
$855M
$15.8M 1.69%
300,944
+18,002
+6% +$1M
WAL icon
20
Western Alliance Bancorporation
WAL
$9.07B
$15.2M 1.62%
175,389
-373,757
-68% -$31.7M
ZION icon
21
Zions Bancorporation
ZION
$10.1B
$15.2M 1.62%
268,111
-174,438
-39% -$9.71M
THG icon
22
Hanover Insurance
THG
$7.63B
$12M 1.28%
65,817
+38,294
+139% +$6.56M
FFWM
23
DELISTED
First Foundation Inc
FFWM
$11.5M 1.22%
2,057,660
+579,086
+39% +$3.2M
BAC icon
24
Bank of America
BAC
$435B
$11.2M 1.19%
+216,409
New +$10.6M
FRME icon
25
First Merchants
FRME
$2.72B
$11.1M 1.19%
+294,718
New +$11.8M
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.