Q3 2025 · 13F-HR
FJ Capital Management LLCholdings as filed
Filed 2025-11-14 · accession 0001420506-25-003437
$936.6M
Reported value
142
Positions
2025-09-30
Period end
The Brief · FJ Capital Management LLC · Q3 2025
AI · grounded in 13F
FJ Capital Management LLC closed its position in SOUTHSTATE CORPORATION SSBUSD, reducing exposure by $64.6M. The fund established a new position in SOUTHSTATE BK CORP SSB worth $52.2M and added EASTERN BANKSHARES INC EBC with a $17.7M investment. Other notable activity includes closing positions in AMERIS BANCORP ABCB and HERITAGE COMM CORP XHC, while increasing its share count in WESBANCO INC WSBC by 771.4%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 437872104 | HTB | HOMETRUST BANCSHARES INC | $68.8M | 7.35% | 1,680,469 | Common | SOLE |
| 84472E102 | SSB | SOUTHSTATE BK CORP | $52.2M | 5.57% | 527,942 | Common | SOLE |
| 29460X109 | EQBK | EQUITY BANCSHARES INC | $49.8M | 5.31% | 1,222,791 | Common | SOLE |
| 947890109 | WBS | WEBSTER FINL CORP | $37.1M | 3.96% | 624,464 | Common | SOLE |
| 811707801 | SBCF | SEACOAST BKG CORP FLA | $36.8M | 3.93% | 1,209,996 | Common | SOLE |
| 842873101 | SFST | SOUTHERN FIRST BANCSHARES | $35.6M | 3.80% | 807,223 | Common | SOLE |
| 680277100 | OSBC | OLD SECOND BANCORP INC ILL | $33.2M | 3.54% | 1,919,934 | Common | SOLE |
| 74930B105 | RBB | RBB BANCORP | $28.4M | 3.03% | 1,511,408 | Common | SOLE |
| 453836108 | INDB | INDEPENDENT BK CORP MASS | $26.2M | 2.80% | 378,739 | Common | SOLE |
| 598511103 | MOFG | MIDWESTONE FINL GROUP INC NE | $22.5M | 2.41% | 796,883 | Common | SOLE |
| 53578P105 | LNKB | LINKBANCORP INC | $21.4M | 2.28% | 2,999,772 | Common | SOLE |
| 84252A106 | BCAL | CALIFORNIA BANCORP | $21.2M | 2.26% | 1,271,636 | Common | SOLE |
| 950810101 | WSBC | WESBANCO INC | $20.9M | 2.23% | 654,296 | Common | SOLE |
| 27627N105 | EBC | EASTERN BANKSHARES INC | $17.7M | 1.89% | 976,342 | Common | SOLE |
| 680033107 | ONB | OLD NATL BANCORP IND | $17.1M | 1.82% | 777,226 | Common | SOLE |
| 453838609 | IBCP | INDEPENDENT BK CORP MICH | $17.0M | 1.82% | 550,194 | Common | SOLE |
| 902973304 | USB | U S BANCORP DEL | $16.8M | 1.80% | 347,926 | Common | SOLE |
| 74727A104 | QCRH | QCR HOLDINGS INC | $16.7M | 1.78% | 220,147 | Common | SOLE |
| 843380106 | SMBC | SOUTHERN MO BANCORP INC | $15.8M | 1.69% | 300,944 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $15.2M | 1.62% | 175,389 | Common | SOLE |
| 989701107 | ZION | ZIONS BANCORPORATION N A | $15.2M | 1.62% | 268,111 | Common | SOLE |
| 410867105 | THG | HANOVER INS GROUP INC | $12.0M | 1.28% | 65,817 | Common | SOLE |
| 32026V104 | FFWM | FIRST FNDTN INC | $11.5M | 1.22% | 2,057,660 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $11.2M | 1.19% | 216,409 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS CORP | $11.1M | 1.19% | 294,718 | Common | SOLE |
| 743606105 | PB | PROSPERITY BANCSHARES INC | $9.6M | 1.03% | 144,985 | Common | SOLE |
| 15746L100 | CBNA | CHAIN BRIDGE BANCORP INC | $9.6M | 1.03% | 293,788 | Common | SOLE |
| 58844R108 | MBIN | MERCHANTS BANCORP IND | $9.4M | 1.01% | 297,156 | Common | SOLE |
| 47805L101 | JMSB | JOHN MARSHALL BANCORP INC | $8.5M | 0.91% | 429,908 | Common | SOLE |
| 319383204 | BUSE | FIRST BUSEY CORP | $8.5M | 0.90% | 366,020 | Common | SOLE |
| 857477103 | STT | STATE STR CORP | $7.9M | 0.84% | 68,000 | Common | SOLE |
| 55305B101 | MHO | M/I HOMES INC | $7.7M | 0.83% | 53,553 | Common | SOLE |
| 89214P109 | TOWN | TOWNEBANK PORTSMOUTH VA | $7.7M | 0.82% | 222,459 | Common | SOLE |
| 31847R102 | FAF | FIRST AMERICAN FINL CORP | $7.6M | 0.81% | 118,691 | Common | SOLE |
| 48020Q107 | JLL | JONES LANG LASALLE INC | $7.6M | 0.81% | 25,312 | Common | SOLE |
| 05369T100 | AVBC | AVIDIA BANCORP INC | $7.4M | 0.79% | 497,258 | Common | SOLE |
| 808513105 | SCHW | CHARLES SCHWAB CORP | $7.3M | 0.78% | 76,650 | Common | SOLE |
| 589400100 | MCY | MERCURY GENL CORP NEW | $7.1M | 0.76% | 83,592 | Common | SOLE |
| 172062101 | CINF | CINCINNATI FINL CORP | $7.1M | 0.75% | 44,671 | Common | SOLE |
| 03027X100 | AMT | AMERICAN TOWER CORP NEW | $6.7M | 0.72% | 3,507 | Common | SOLE |
| 70932M107 | PFSI | PENNYMAC FINL SVCS INC NEW | $6.4M | 0.68% | 51,559 | Common | SOLE |
| 87724P106 | TMHC | TAYLOR MORRISON HOME CORP | $5.9M | 0.63% | 89,887 | Common | SOLE |
| 420476103 | HWBK | HAWTHORN BANCSHARES INC | $5.9M | 0.63% | 190,710 | Common | SOLE |
| 40416E103 | HCI | HCI GROUP INC | $5.7M | 0.61% | 29,567 | Common | SOLE |
| 93148P102 | WD | WALKER & DUNLOP INC | $5.2M | 0.56% | 62,168 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER INC | $5.1M | 0.55% | 28,845 | Common | SOLE |
| 115236101 | BRO | BROWN & BROWN INC | $4.5M | 0.48% | 47,837 | Common | SOLE |
| 373865104 | GABC | GERMAN AMERN BANCORP INC | $4.4M | 0.47% | 112,580 | Common | SOLE |
| 759351604 | RGA | REINSURANCE GRP OF AMERICA I | $4.3M | 0.46% | 22,466 | Common | SOLE |
| 440407104 | HBNC | HORIZON BANCORP INC | $4.2M | 0.45% | 264,651 | Common | SOLE |
| 004239109 | AKR | ACADIA RLTY TR | $4.1M | 0.44% | 205,209 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS INC | $4.0M | 0.43% | 29,258 | Common | SOLE |
| 45866F104 | ICE | INTERCONTINENTAL EXCHANGE IN | $3.9M | 0.42% | 23,146 | Common | SOLE |
| 427096508 | HTGC | HERCULES CAPITAL INC | $3.9M | 0.41% | 203,991 | Common | SOLE |
| 035710839 | NLY | ANNALY CAPITAL MANAGEMENT IN | $3.7M | 0.40% | 185,233 | Common | SOLE |
| 37959E102 | GL | GLOBE LIFE INC | $3.7M | 0.39% | 25,828 | Common | SOLE |
| 46124J201 | IVT | INVENTRUST PPTYS CORP | $3.6M | 0.38% | 124,373 | Common | SOLE |
| 750236101 | RDN | RADIAN GROUP INC | $3.6M | 0.38% | 98,159 | Common | SOLE |
| 529043101 | LXPUSD | LXP INDUSTRIAL TRUST | $3.5M | 0.38% | 394,529 | Common | SOLE |
| 038923108 | ABR | ARBOR REALTY TRUST INC | $3.3M | 0.35% | 268,673 | Common | SOLE |
| 398182303 | AHR | AMERICAN HEALTHCARE REIT | $3.3M | 0.35% | 77,881 | Common | SOLE |
| 929089100 | VOYA | VOYA FINANCIAL INC | $3.3M | 0.35% | 43,507 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $3.2M | 0.35% | 31,975 | Common | SOLE |
| G5S37H101 | MRX | MAREX GROUP PLC | $3.2M | 0.34% | 95,683 | Common | SOLE |
| 902788108 | UMBF | UMB FINL CORP | $3.1M | 0.34% | 26,549 | Common | SOLE |
| 03762U105 | ARI | APOLLO COML REAL EST FIN INC | $3.0M | 0.32% | 299,904 | Common | SOLE |
| 860630102 | SF | STIFEL FINL CORP | $2.9M | 0.31% | 25,978 | Common | SOLE |
| 36120Q101 | FVCB | FVCBANKCORP INC | $2.9M | 0.31% | 221,956 | Common | SOLE |
| 33621E109 | FSFG | FIRST SVGS FINL GROUP INC | $2.9M | 0.31% | 91,479 | Common | SOLE |
| 78351F107 | RYAN | RYAN SPECIALTY HOLDINGS INC | $2.7M | 0.29% | 47,822 | Common | SOLE |
| 441593100 | HLI | HOULIHAN LOKEY INC | $2.4M | 0.26% | 11,860 | Common | SOLE |
| 59522J103 | MAA | MID-AMER APT CMNTYS INC | $2.2M | 0.24% | 15,874 | Common | SOLE |
| 78442P106 | SLM | SLM CORP | $2.2M | 0.23% | 79,309 | Common | SOLE |
| 06211J100 | BFC | BANK FIRST CORP | $2.1M | 0.23% | 17,662 | Common | SOLE |
| 65406E102 | NIC | NICOLET BANKSHARES INC | $2.1M | 0.23% | 15,753 | Common | SOLE |
| 83012A109 | TSLX | SIXTH STREET SPECIALTY LENDING | $2.1M | 0.22% | 91,827 | Common | SOLE |
| 12621E103 | CNO | CNO FINL GROUP INC | $2.1M | 0.22% | 52,008 | Common | SOLE |
| 008492100 | ADC | AGREE RLTY | $2.0M | 0.21% | 27,707 | Common | SOLE |
| 32054K103 | FR | FIRST INDL RLTY TR INC | $1.7M | 0.18% | 33,615 | Common | SOLE |
| 69376K106 | RPC | P10 INC | $1.7M | 0.18% | 155,835 | Common | SOLE |
| 71844V201 | PECO | PHILLIPS EDISON & CO INC | $1.6M | 0.18% | 47,768 | Common | SOLE |
| 756109104 | O | REALTY INCOME CORP | $1.6M | 0.17% | 26,865 | Common | SOLE |
| 65158N102 | NMRK | NEWMARK GROUP INC | $1.6M | 0.17% | 83,379 | Common | SOLE |
| G0403H108 | AON | AON PLC | $1.5M | 0.16% | 4,176 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC | $1.5M | 0.16% | 5,393 | Common | SOLE |
| G4474Y214 | JHG | JANUS HENDERSON GROUP PLC | $1.4M | 0.15% | 32,041 | Common | SOLE |
| 30225T102 | EXR | EXTRA SPACE STORAGE INC | $1.4M | 0.15% | 9,758 | Common | SOLE |
| 03990B101 | ARES | ARES MANAGEMENT CORPORATION | $1.3M | 0.14% | 8,293 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.2M | 0.13% | 3,625 | Common | SOLE |
| 92936U109 | WPC | WP CAREY INC | $1.2M | 0.13% | 18,255 | Common | SOLE |
| G8192H106 | SPNT | SIRIUSPOINT LTD | $1.2M | 0.13% | 67,270 | Common | SOLE |
| 830940102 | SKWD | SKYWARD SPECIALTY INS GROUP | $1.2M | 0.13% | 25,467 | Common | SOLE |
| 436893200 | HOMB | HOME BANCSHARES INC | $1.2M | 0.13% | 42,191 | Common | SOLE |
| 29476L107 | EQR | EQUITY RESIDENTIAL | $1.2M | 0.12% | 17,935 | Common | SOLE |
| 75605Y106 | — | ANYWHERE REAL ESTATE INC | $1.1M | 0.12% | 107,971 | Common | SOLE |
| 29670E107 | EPRT | ESSENTIAL PPTYS RLTY TR INC | $1.1M | 0.12% | 37,997 | Common | SOLE |
| 87165B103 | SYF | SYNCHRONY FINANCIAL | $1.1M | 0.12% | 15,870 | Common | SOLE |
| 04316A108 | APAM | ARTISAN PARTNERS ASSET MGMT | $1.1M | 0.12% | 25,129 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $1.1M | 0.12% | 1,894 | Common | SOLE |
| 90984P303 | UCB | UNITED CMNTY BKS BLAIRSVLE G | $1.0M | 0.11% | 33,214 | Common | SOLE |
| 74340W103 | PLD | PROLOGIS INC. | $995,522 | 0.11% | 8,693 | Common | SOLE |
| 222795502 | CUZ | COUSINS PPTYS INC | $991,542 | 0.11% | 34,262 | Common | SOLE |
| 601137102 | MRP | MILLROSE PPTYS INC | $987,966 | 0.11% | 29,395 | Common | SOLE |
| 866796105 | SLF | SUN LIFE FINANCIAL INC. | $979,930 | 0.10% | 16,324 | Common | SOLE |
| 42727J102 | HRTG | HERITAGE INSURANCE HLDGS INC | $950,419 | 0.10% | 37,745 | Common | SOLE |
| 004498101 | ACIW | ACI WORLDWIDE | $807,592 | 0.09% | 15,304 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY INC | $793,794 | 0.08% | 8,376 | Common | SOLE |
| 354613101 | BEN | FRANKLIN RESOURCES INC | $722,489 | 0.08% | 31,236 | Common | SOLE |
| 14316J108 | CG | CARLYLE GROUP INC | $670,639 | 0.07% | 10,696 | Common | SOLE |
| 229663109 | CUBE | CUBESMART | $619,049 | 0.07% | 15,225 | Common | SOLE |
| 36831E108 | GCMG | GCM GROSVENOR INC | $612,287 | 0.07% | 50,728 | Common | SOLE |
| 008252108 | AMG | AFFILIATED MANAGERS GROUP IN | $609,665 | 0.07% | 2,557 | Common | SOLE |
| 496719105 | KINS | KINGSTONE COS INC | $607,536 | 0.06% | 41,329 | Common | SOLE |
| 23128Q101 | CURB | CURBLINE PPTYS CORP | $603,550 | 0.06% | 27,065 | Common | SOLE |
| 872657101 | TPG | TPG INC | $577,028 | 0.06% | 10,044 | Common | SOLE |
| 10922N103 | BHF | BRIGHTHOUSE FINL INC | $539,187 | 0.06% | 10,158 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $514,264 | 0.05% | 30,502 | Common | SOLE |
| 637417106 | NNN | NNN REIT INC | $492,450 | 0.05% | 11,568 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $446,452 | 0.05% | 1,716 | Common | SOLE |
| 363576109 | AJG | GALLAGHER ARTHUR J & CO | $424,654 | 0.05% | 1,371 | Common | SOLE |
| 31620M106 | FIS | FIDELITY NATL INFORMATION SV | $369,857 | 0.04% | 5,609 | Common | SOLE |
| 91359E105 | UHT | UNIVERSAL HEALTH RLTY INCOME | $368,551 | 0.04% | 9,409 | Common | SOLE |
| 23834J201 | DAVE | DAVE INC | $362,817 | 0.04% | 1,820 | Common | SOLE |
| 43708L108 | HFBL | HOME FED BANCORP INC LA NEW | $342,405 | 0.04% | 24,866 | Common | SOLE |
| 69924R108 | 6PM | PARAMOUNT GROUP INC | $307,217 | 0.03% | 46,975 | Common | SOLE |
| 46817M107 | JXN | JACKSON FINANCIAL INC | $298,224 | 0.03% | 2,946 | Common | SOLE |
| 11135E203 | BNL | BROADSTONE NET LEASE INC | $264,780 | 0.03% | 14,817 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $263,857 | 0.03% | 3,409 | Common | SOLE |
| 700517105 | PK | PARK HOTELS & RESORTS INC | $260,591 | 0.03% | 23,519 | Common | SOLE |
| 910710102 | ACIC | AMERICAN COASTAL INS CORP | $259,190 | 0.03% | 22,756 | Common | SOLE |
| 11120U105 | BRX | BRIXMOR PPTY GROUP INC | $253,660 | 0.03% | 9,164 | Common | SOLE |
| 314211103 | FHI | FEDERATED HERMES INC | $253,367 | 0.03% | 4,879 | Common | SOLE |
| 026948109 | AII | AMERICAN INTEGRITY INSURANCE GROUP | $251,501 | 0.03% | 11,273 | Common | SOLE |
| 668771108 | GEN | GEN DIGITAL INC | $245,886 | 0.03% | 8,661 | Common | SOLE |
| 49427F108 | KRC | KILROY RLTY CORP | $232,333 | 0.02% | 5,499 | Common | SOLE |
| 053015103 | ADP | AUTOMATIC DATA PROCESSING IN | $230,985 | 0.02% | 787 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $222,028 | 0.02% | 643 | Common | SOLE |
| 407497106 | HLNE | HAMILTON LANE INC | $217,281 | 0.02% | 1,612 | Common | SOLE |
| 37940X102 | GPN | GLOBAL PMTS INC | $195,487 | 0.02% | 2,353 | Common | SOLE |
| 74874Q100 | QNST | QUINSTREET INC | $134,898 | 0.01% | 8,720 | Common | SOLE |
| 867892101 | SHO | SUNSTONE HOTEL INVS INC NEW | $122,897 | 0.01% | 13,116 | Common | SOLE |
| 105368203 | BDN | BRANDYWINE RLTY TR | $113,762 | 0.01% | 27,281 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.