Q1 2026 · 13F-HR
FJ Capital Management LLCholdings as filed
Filed 2026-05-15 · accession 0001420506-26-001153
$888.1M
Reported value
126
Positions
2026-03-31
Period end
The Brief · FJ Capital Management LLC · Q1 2026
AI · grounded in 13F
FJ Capital Management LLC closed its position in Western Alliance Bancorp WAL, reducing exposure by $36.37M. The fund also exited positions in MidwestOne Financial Group Inc NE MOFG and Webster Financial Corp WBS, totaling over $54M in combined sales. To offset these exits, the fund established new positions in Huntington Bancshares HBAN and BankUnited BKU, investing $17.48M and $17.19M respectively. Additionally, the fund increased its holdings in Nicolet Bankshares NIC by 1,400.32%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 84472E102 | SSB | SOUTHSTATE BANK | $72.0M | 8.11% | 778,627 | Common | SOLE |
| 437872104 | HTB | HOMETRUST BANCSHARES | $66.3M | 7.46% | 1,554,425 | Common | SOLE |
| 65406E102 | NIC | NICOLET BANKSHARES | $45.5M | 5.13% | 306,381 | Common | SOLE |
| 842873101 | SFST | SOUTHERN FIRST BANCSHARES | $44.0M | 4.95% | 807,223 | Common | SOLE |
| 29460X109 | EQBK | EQUITY BANCSHARES CL A | $40.9M | 4.61% | 921,074 | Common | SOLE |
| 84252A106 | BCAL | CALIFORNIA BANCORP | $36.4M | 4.10% | 2,054,534 | Common | SOLE |
| 27627N105 | EBC | EASTERN BANKSHARES | $34.1M | 3.84% | 1,741,864 | Common | SOLE |
| 74930B105 | RBB | RBB BANCORP | $32.3M | 3.64% | 1,511,408 | Common | SOLE |
| 680277100 | OSBC | OLD SECOND BANCORP | $30.3M | 3.42% | 1,505,102 | Common | SOLE |
| 320817109 | FRME | FIRST MERCHANTS | $27.6M | 3.10% | 711,425 | Common | SOLE |
| 811707801 | SBCF | SEACOAST BANKING OF FLORIDA | $27.4M | 3.09% | 906,053 | Common | SOLE |
| 440407104 | HBNC | HORIZON BANCORP | $21.4M | 2.41% | 1,291,208 | Common | SOLE |
| 89214P109 | TOWN | TOWNEBANK | $18.8M | 2.12% | 559,772 | Common | SOLE |
| 446150104 | HBAN | HUNTINGTON BANCSHARES | $17.5M | 1.97% | 1,116,816 | Common | SOLE |
| 06652K103 | BKU | BANKUNITED | $17.2M | 1.94% | 380,554 | Common | SOLE |
| 126600105 | CVBF | CVB FINL | $16.5M | 1.86% | 851,426 | Common | SOLE |
| 680033107 | ONB | OLD NATIONAL BANCORP | $15.8M | 1.78% | 717,018 | Common | SOLE |
| 843380106 | SMBC | SOUTHERN MISSOURI BANCORP | $12.9M | 1.46% | 202,427 | Common | SOLE |
| 453836108 | INDB | INDEPENDENT BANK GROUP MA | $12.5M | 1.40% | 165,653 | Common | SOLE |
| 665859104 | NTRS | NORTHERN TR | $11.0M | 1.24% | 79,026 | Common | SOLE |
| 03076K108 | ABCB | AMERIS BANCORP | $10.5M | 1.18% | 134,868 | Common | SOLE |
| 15746L100 | CBNA | CHAIN BRIDGE BANCORP CL A | $10.3M | 1.15% | 293,788 | Common | SOLE |
| 30234F101 | XZO | EXZEO GROUP | $10.0M | 1.13% | 682,440 | Common | SOLE |
| 05369T100 | AVBC | AVIDIA BANCORP | $9.8M | 1.10% | 497,258 | Common | SOLE |
| 48020Q107 | JLL | JONES LANG LASALLE | $9.7M | 1.09% | 31,881 | Common | SOLE |
| 060505104 | BAC | BANK OF AMERICA | $9.2M | 1.04% | 189,376 | Common | SOLE |
| 617446448 | MS | MORGAN STANLEY | $9.2M | 1.04% | 56,089 | Common | SOLE |
| 950810101 | WSBC | WESBANCO | $8.4M | 0.95% | 243,843 | Common | SOLE |
| 47805L101 | JMSB | JOHN MARSHALL BANCORP | $8.4M | 0.94% | 412,273 | Common | SOLE |
| 174610105 | CFG | CITIZENS FINL GROUP | $7.6M | 0.85% | 125,939 | Common | SOLE |
| 453838609 | IBCP | INDEPENDENT BANK MICH | $6.8M | 0.76% | 203,607 | Common | SOLE |
| 420476103 | HWBK | HAWTHORN BANCSHARES | $6.4M | 0.72% | 190,710 | Common | SOLE |
| 861025104 | SYBT | STOCK YARDS BANCORP | $6.2M | 0.69% | 92,849 | Common | SOLE |
| 81768T108 | SFBS | SERVISFIRST BANCSHARES | $5.8M | 0.66% | 79,906 | Common | SOLE |
| 808513105 | SCHW | CHARLES SCHWAB | $5.8M | 0.65% | 61,883 | Common | SOLE |
| 40416E103 | HCI | HCI GROUP | $5.8M | 0.65% | 37,287 | Common | SOLE |
| 928254101 | VIRT | VIRTU FINL CL A | $5.5M | 0.62% | 125,790 | Common | SOLE |
| 69753M105 | PLMR | PALOMAR HLDGS | $5.4M | 0.61% | 45,433 | Common | SOLE |
| 023576101 | AMTB | AMERANT BANCORP CL A | $5.4M | 0.61% | 245,913 | Common | SOLE |
| 12621E103 | CNO | CNO FINL GROUP | $5.4M | 0.61% | 131,679 | Common | SOLE |
| 902973304 | USB | U S BANCORP | $5.1M | 0.57% | 98,115 | Common | SOLE |
| 902788108 | UMBF | UMB FINL | $4.9M | 0.56% | 43,740 | Common | SOLE |
| G3198U102 | ESNT | ESSENT GROUP | $4.4M | 0.49% | 75,024 | Common | SOLE |
| 745867101 | PHM | PULTEGROUP | $4.2M | 0.47% | 35,719 | Common | SOLE |
| 830940102 | SKWD | SKYWARD SPECIALTY INSURANCE GROUP | $4.1M | 0.46% | 94,379 | Common | SOLE |
| 427096508 | HTGC | HERCULES CAPITAL | $4.1M | 0.46% | 277,666 | Common | SOLE |
| 68268W103 | OMF | ONEMAIN HLDGS | $4.1M | 0.46% | 75,795 | Common | SOLE |
| 410867105 | THG | HANOVER INSURANCE GROUP | $3.9M | 0.44% | 22,535 | Common | SOLE |
| 95040Q104 | WELL | WELLTOWER | $3.8M | 0.43% | 19,277 | Common | SOLE |
| 44326H107 | HYNE | HOYNE BANCORP | $3.8M | 0.43% | 261,000 | Common | SOLE |
| 253868103 | DLR | DIGITAL RLTY TR | $3.8M | 0.42% | 20,829 | Common | SOLE |
| 631103108 | NDAQ | NASDAQ | $3.6M | 0.40% | 42,372 | Common | SOLE |
| 56035L104 | MAIN | MAIN STREET CAPITAL | $3.6M | 0.40% | 67,667 | Common | SOLE |
| 035710839 | NLY | ANNALY CAPITAL MGMT | $3.5M | 0.39% | 165,250 | Common | SOLE |
| 29444U700 | EQIX | EQUINIX | $3.5M | 0.39% | 3,563 | Common | SOLE |
| 46124J201 | IVT | INVENTRUST PPTYS | $3.4M | 0.38% | 111,953 | Common | SOLE |
| 268948106 | EGBN | EAGLE BANCORP | $3.2M | 0.36% | 126,895 | Common | SOLE |
| 09257W100 | BXMT | BLACKSTONE MORTGAGE TR CL A | $3.1M | 0.35% | 160,596 | Common | SOLE |
| 292554102 | ECPG | ENCORE CAPITAL GROUP | $2.9M | 0.32% | 40,732 | Common | SOLE |
| 74727A104 | QCRH | QCR HLDGS | $2.8M | 0.31% | 32,601 | Common | SOLE |
| 398182303 | AHR | AMERICAN HEALTHCARE REIT | $2.8M | 0.31% | 58,592 | Common | SOLE |
| 693475105 | PNC | PNC FINL SERVICES GROUP | $2.6M | 0.29% | 12,467 | Common | SOLE |
| 04911A107 | AUB | ATLANTIC UNION BANKSHARES | $2.6M | 0.29% | 72,243 | Common | SOLE |
| 32054K103 | FR | FIRST INDL RLTY TR | $2.5M | 0.28% | 42,501 | Common | SOLE |
| 008492100 | ADC | AGREE RLTY | $2.4M | 0.27% | 31,696 | Common | SOLE |
| 22948Q101 | CTO | CTO RLTY GROWTH | $2.2M | 0.24% | 116,343 | Common | SOLE |
| 55374X208 | MSIF | MSC INCOME FUND | $2.1M | 0.23% | 171,058 | Common | SOLE |
| 004239109 | AKR | ACADIA RLTY TR | $2.0M | 0.23% | 106,677 | Common | SOLE |
| 770700102 | HOOD | ROBINHOOD MARKETS CL A | $2.0M | 0.23% | 29,263 | Common | SOLE |
| 354613101 | BEN | FRANKLIN RES | $2.0M | 0.23% | 85,724 | Common | SOLE |
| G0692U109 | AXS | AXIS CAPITAL HLDGS | $2.0M | 0.23% | 19,825 | Common | SOLE |
| 759351604 | RGA | REINSURANCE GROUP OF AMERICA | $2.0M | 0.22% | 9,722 | Common | SOLE |
| 91529Y106 | UNM | UNUM GROUP | $1.9M | 0.22% | 26,346 | Common | SOLE |
| 889478103 | TOL | TOLL BROTHERS | $1.6M | 0.18% | 11,874 | Common | SOLE |
| 277276101 | EGP | EASTGROUP PPTYS | $1.5M | 0.17% | 7,930 | Common | SOLE |
| 140475203 | SNDA | SONIDA SENIOR LIVING | $1.5M | 0.17% | 45,472 | Common | SOLE |
| 23834J201 | DAVE | DAVE CL A | $1.4M | 0.16% | 8,280 | Common | SOLE |
| 37959E102 | GL | GLOBE LIFE | $1.4M | 0.16% | 10,347 | Common | SOLE |
| 11120U105 | BRX | BRIXMOR PPTY GROUP | $1.3M | 0.15% | 46,798 | Common | SOLE |
| 59522J103 | MAA | MID-AMERICA APARTMENT COMMUNITIES | $1.3M | 0.15% | 10,932 | Common | SOLE |
| 33768G107 | FCFS | FIRSTCASH HLDGS | $1.0M | 0.12% | 5,491 | Common | SOLE |
| 28852N109 | EFC | ELLINGTON FINL | $967,991 | 0.11% | 81,687 | Common | SOLE |
| G8192H106 | SPNT | SIRIUSPOINT | $950,840 | 0.11% | 44,143 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY | $936,820 | 0.11% | 11,210 | Common | SOLE |
| 89400J107 | TRU | TRANSUNION | $859,617 | 0.10% | 12,424 | Common | SOLE |
| 29472R108 | ELS | EQUITY LIFESTYLE PPTYS | $826,378 | 0.09% | 13,239 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL | $780,071 | 0.09% | 4,276 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD CL A | $758,484 | 0.09% | 1,518 | Common | SOLE |
| 78573L106 | SBRA | SABRA HEALTH CARE REIT | $735,067 | 0.08% | 38,225 | Common | SOLE |
| 23128Q101 | CURB | CURBLINE PPTYS | $635,801 | 0.07% | 24,653 | Common | SOLE |
| 73757R102 | PSTL | POSTAL RLTY TR CL A | $629,574 | 0.07% | 33,921 | Common | SOLE |
| 92826C839 | V | VISA CL A | $610,525 | 0.07% | 2,020 | Common | SOLE |
| 314211103 | FHI | FEDERATED HERMES CL B | $587,459 | 0.07% | 10,359 | Common | SOLE |
| 87165B103 | SYF | SYNCHRONY FINL | $584,360 | 0.07% | 8,591 | Common | SOLE |
| 293712105 | EFSC | ENTERPRISE FINL SERVICES | $550,948 | 0.06% | 10,182 | Common | SOLE |
| 29670E107 | EPRT | ESSENTIAL PPTYS RLTY TR | $536,309 | 0.06% | 17,665 | Common | SOLE |
| 64073B103 | NP | NEPTUNE INSURANCE HLDGS CL A | $526,592 | 0.06% | 21,769 | Common | SOLE |
| 828806109 | SPG | SIMON PPTY GROUP | $492,253 | 0.06% | 2,639 | Common | SOLE |
| 78377T107 | RHP | RYMAN HOSPITALITY PPTYS | $492,076 | 0.06% | 5,333 | Common | SOLE |
| 004498101 | ACIW | ACI WORLDWIDE | $490,028 | 0.06% | 11,949 | Common | SOLE |
| 554489104 | VRE | VERIS RESIDENTIAL | $457,522 | 0.05% | 24,246 | Common | SOLE |
| 229663109 | CUBE | CUBESMART | $443,062 | 0.05% | 12,089 | Common | SOLE |
| 816300107 | SIGI | SELECTIVE INSURANCE GROUP | $426,934 | 0.05% | 5,663 | Common | SOLE |
| 22002T108 | CDP | COPT DEFENSE PPTYS | $425,340 | 0.05% | 13,900 | Common | SOLE |
| 570535104 | MKL | MARKEL GROUP | $386,642 | 0.04% | 202 | Common | SOLE |
| 91359E105 | UHT | UNIVERSAL HEALTH RLTY INCOME TR | $380,782 | 0.04% | 9,409 | Common | SOLE |
| 37247D106 | GNW | GENWORTH FINL | $374,478 | 0.04% | 46,118 | Common | SOLE |
| G4474Y214 | JHG | JANUS HENDERSON GROUP PLC | $371,097 | 0.04% | 7,224 | Common | SOLE |
| 407497106 | HLNE | HAMILTON LANE CL A | $361,220 | 0.04% | 3,634 | Common | SOLE |
| 984017103 | XHR | XENIA HOTELS & RESORTS | $347,941 | 0.04% | 23,462 | Common | SOLE |
| 14316J108 | CG | CARLYLE GROUP | $341,391 | 0.04% | 7,055 | Common | SOLE |
| 11135E203 | BNL | BROADSTONE NET LEASE | $270,707 | 0.03% | 14,817 | Common | SOLE |
| 018581108 | BFH | BREAD FINL HLDGS | $259,569 | 0.03% | 3,466 | Common | SOLE |
| 929089100 | VOYA | VOYA FINL | $239,188 | 0.03% | 3,501 | Common | SOLE |
| 92276F100 | VTR | VENTAS | $232,419 | 0.03% | 2,842 | Common | SOLE |
| 46817M107 | JXN | JACKSON FINL CL A | $227,087 | 0.03% | 2,148 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS | $225,110 | 0.03% | 4,977 | Common | SOLE |
| 29476L107 | EQR | EQUITY RESIDENTIAL | $222,996 | 0.03% | 3,770 | Common | SOLE |
| 89417E109 | TRV | TRAVELERS COMPANIES | $219,927 | 0.02% | 754 | Common | SOLE |
| 64119V303 | NTST | NETSTREIT | $206,490 | 0.02% | 10,966 | Common | SOLE |
| 37940X102 | GPN | GLOBAL PAYMENTS | $204,996 | 0.02% | 3,046 | Common | SOLE |
| 36831E108 | GCMG | GCM GROSVENOR CL A | $173,921 | 0.02% | 17,747 | Common | SOLE |
| 81761L102 | SVC | SERVICE PPTYS TR | $127,492 | 0.01% | 94,090 | Common | SOLE |
| 867892101 | SHO | SUNSTONE HOTEL INVESTORS | $118,932 | 0.01% | 13,200 | Common | SOLE |
| 10482B101 | BHR | BRAEMAR HOTELS & RESORTS | $97,789 | 0.01% | 41,436 | Common | SOLE |
| 69376K106 | RPC | RIDGEPOST CAPITAL CL A | $80,637 | 0.01% | 11,107 | 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.