FJ Capital Management LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), FJ Capital Management LLC reported 120 stock positions worth $770.4 million. Its top holding was Southern First Bancshares (SFST) at 7.1% of the portfolio, followed by Equity Bancshares Class A (EQBK, 6.1%) and Nicolet Bankshares (NIC, 6.0%). Compared with Q1 2026, it opened 47 new positions, sold out of 53, added to 30 and reduced 27. The biggest buy was a new position in Bank of Hawaii (BOH) and the biggest sale an exit from Eastern Bankshares (EBC).
- Most Recent 13F
- Q2 2026
- Location
- MCLEAN, VA
- CIK
- 0001599170
- Portfolio Value
- $770.4M (Q2 2026)
- SEC Filing
- 0001420506-26-001821 ↗ filed Aug 14, 2026
Holdings Value
Holdings 120 stocks · $770.4M
| SFST Southern First Bancshares | 7.08% | 892,223 | $54.5M | Add +10.5% |
| EQBK Equity Bancshares Inc. Class A | 6.11% | 961,492 | $47.1M | Add +4.4% |
| NIC Nicolet Bankshares Inc. | 5.95% | 277,243 | $45.9M | Reduce -9.5% |
| SSB Southstate Bank Corp. | 5.69% | 438,973 | $43.9M | Reduce -43.6% |
| BCAL California Bancorp | 5.56% | 2,054,534 | $42.8M | No change |
| HTB Hometrust Bancshares Inc. | 5.43% | 839,115 | $41.9M | Reduce -46.0% |
| TOWN Towne Bank | 4.74% | 1,008,071 | $36.5M | Add +80.1% |
| OSBC Old Second Bancorp Inc. | 4.42% | 1,460,413 | $34.1M | Reduce -3.0% |
| SBCF Seacoast Banking Corp. | 4.34% | 1,006,363 | $33.5M | Add +11.1% |
| FRME First Merchants Corp. | 4.03% | 711,425 | $31.1M | No change |
| CVBF CVB Financial Corp. | 3.79% | 1,295,322 | $29.2M | Add +52.1% |
| BOH Bank of Hawaii Corp. filed as BANK HAWAII CORP | 3.31% | 312,693 | $25.5M | New |
| HBNC Horizon Bancorp Inc. | 3.23% | 1,246,550 | $24.9M | Reduce -3.5% |
| HBAN Huntington Bancshares Inc. | 3.14% | 1,364,029 | $24.2M | Add +22.1% |
| TFC Truist Financial Corp. | 2.89% | 446,477 | $22.2M | New |
| UMBF Umb Financial Corp. | 2.36% | 127,486 | $18.2M | Add +191.5% |
| CBNA Chain Bridge Bancorp Inc. Class A | 1.60% | 293,788 | $12.4M | No change |
| AVBC Avidia Bancorp Inc. | 1.35% | 497,258 | $10.4M | No change |
| LPLA LPL Financial Holdings Inc. | 1.10% | 29,967 | $8.4M | New |
| NLY Annaly Capital Management Inc. | 1.07% | 376,036 | $8.2M | Add +127.6% |
| HWBK Hawthorn Bancshares Inc. | 0.97% | 190,710 | $7.5M | No change |
| IBCP Independent Bank Corp. - Mich | 0.95% | 203,607 | $7.3M | No change |
| WFC Wells Fargo & Co. | 0.87% | 80,810 | $6.7M | New |
| AHR American Healthcare REIT Inc. | 0.86% | 127,389 | $6.6M | Add +117.4% |
| FAF First American Financial | 0.82% | 91,643 | $6.3M | New |
| SYBT Stock Yards Bancorp Inc. | 0.81% | 81,359 | $6.2M | Reduce -12.4% |
| JLL Jones Lang Lasalle Inc. | 0.76% | 18,851 | $5.8M | Reduce -40.9% |
| FCFS Firstcash Holdings Inc. | 0.64% | 22,683 | $4.9M | Add +313.1% |
| SKY Champion Homes Inc. | 0.58% | 50,348 | $4.4M | New |
| MIAX Miami International Holdings | 0.58% | 119,299 | $4.4M | New |
| HYNE Hoyne Bancorp Inc. | 0.57% | 261,000 | $4.4M | No change |
| WELL Welltower Inc. | 0.56% | 19,095 | $4.3M | Reduce -0.9% |
| MKTX Marketaxess Holdings Inc. | 0.55% | 37,237 | $4.2M | New |
| CNO Cno Financial Group Inc. | 0.54% | 82,078 | $4.2M | Reduce -37.7% |
| HTGC Hercules Capital Inc. | 0.51% | 249,039 | $3.9M | Reduce -10.3% |
| CME Cme Group Inc. | 0.51% | 17,754 | $3.9M | New |
| XZO Exzeo Group Inc. | 0.49% | 223,788 | $3.8M | Reduce -67.2% |
| ECPG Encore Capital Group Inc. | 0.46% | 38,144 | $3.6M | Reduce -6.3% |
| RGA Reinsurance Group of America | 0.44% | 16,077 | $3.4M | Add +65.4% |
| TOL Toll Brothers Inc. | 0.41% | 19,047 | $3.1M | Add +60.4% |
| ETOR Etoro Group Ltd. Class A | 0.37% | 73,077 | $2.9M | New |
| MAIN Main Street Capital Corp. | 0.36% | 53,085 | $2.8M | Reduce -21.6% |
| FR First Industrial Realty TR | 0.35% | 44,161 | $2.7M | Add +3.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.34% | 11,571 | $2.7M | New |
| CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW | 0.34% | 120,922 | $2.6M | Add +3.9% |
| MSIF MSC Income Fund Inc. | 0.31% | 206,254 | $2.4M | Add +20.6% |
| ABCB Ameris Bancorp | 0.31% | 26,377 | $2.4M | Reduce -80.4% |
| UDR Udr Inc. | 0.31% | 59,259 | $2.4M | New |
| IVT Inventrust Properties Corp. | 0.31% | 66,542 | $2.4M | Reduce -40.6% |
| HLI Houlihan Lokey Inc. | 0.30% | 17,497 | $2.3M | New |
| BRX Brixmor Property Group Inc. | 0.29% | 71,166 | $2.2M | Add +52.1% |
| SKWD Skyward Specialty Insurance | 0.28% | 36,966 | $2.2M | Reduce -60.8% |
| TRTX TPG Re Finance Trust Inc. | 0.27% | 249,738 | $2.1M | New |
| FHI Federated Hermes Inc. | 0.27% | 37,556 | $2.1M | Add +262.5% |
| GL Globe Life Inc. | 0.27% | 11,558 | $2.1M | Add +11.7% |
| ALLY Ally Financial Inc. | 0.25% | 42,195 | $1.9M | New |
| EGP Eastgroup Properties Inc. | 0.25% | 9,402 | $1.9M | Add +18.6% |
| DAVE Dave Inc. | 0.19% | 3,900 | $1.5M | Reduce -52.9% |
| RWT Redwood Trust Inc. | 0.19% | 304,416 | $1.4M | New |
| HCI Hci Group Inc. | 0.18% | 7,787 | $1.4M | Reduce -79.1% |
| SYF Synchrony Financial | 0.17% | 16,838 | $1.3M | Add +96.0% |
| XYZ Block Inc. | 0.16% | 16,318 | $1.2M | New |
| BEN Franklin Templeton Inc. | 0.14% | 33,415 | $1.1M | Reduce -61.0% |
| COF Capital One Financial Corp. | 0.12% | 4,718 | $947K | Add +10.3% |
| MA Mastercard Inc. Class A | 0.12% | 1,810 | $930K | Add +19.2% |
| PDM Piedmont Realty Trust Inc. | 0.12% | 100,262 | $917K | New |
| DRH Diamondrock Hospitality Co. | 0.11% | 69,618 | $848K | New |
| THG Hanover Insurance Group Inc./ | 0.11% | 3,957 | $847K | Reduce -82.4% |
| AFRM Affirm Holdings Inc. | 0.11% | 10,378 | $846K | New |
| PSTL Postal Realty Trust Inc. Class A | 0.11% | 33,921 | $836K | No change |
| RKT Rocket Cos Inc. Class A | 0.10% | 49,765 | $784K | New |
| SLDE Slide Insurance Holdings Inc. | 0.10% | 39,757 | $770K | New |
| EG Everest Group Ltd. | 0.10% | 2,147 | $767K | New |
| CHYM Chime Financial Inc. Class A | 0.10% | 36,618 | $750K | New |
| NP Neptune Insurance Holdi Class A | 0.09% | 22,993 | $724K | Add +5.6% |
| V Visa Inc. Class A | 0.09% | 2,020 | $693K | No change |
| AMH American Homes 4 Rent- A | 0.09% | 20,264 | $679K | New |
| SPNT Siriuspoint Ltd. | 0.09% | 28,197 | $677K | Reduce -36.1% |
| EFSC Enterprise Financial Service | 0.09% | 10,182 | $671K | No change |
| AFG American Financial Group Inc. | 0.09% | 4,782 | $669K | New |
| JAN Janus Living Inc. Class-A-1 | 0.08% | 21,522 | $619K | New |
| ACIW Aci Worldwide Inc. | 0.08% | 11,949 | $601K | No change |
| ELV Elevance Health Inc. | 0.07% | 1,433 | $554K | New |
| BFH Bread Financial Holdings Inc. | 0.07% | 5,007 | $543K | Add +44.5% |
| XHR Xenia Hotels & Resorts Inc. | 0.07% | 26,301 | $535K | Add +12.1% |
| RPC Ridgepost Capital Inc. Class A | 0.07% | 66,926 | $527K | Add +502.6% |
| RHP Ryman Hospitality Properties | 0.07% | 4,078 | $524K | Reduce -23.5% |
| CPT Camden Property Trust | 0.07% | 4,539 | $520K | New |
| CG The Carlyle Group Inc. | 0.07% | 12,149 | $512K | Add +72.2% |
| CDP Copt Defense Properties | 0.07% | 13,900 | $506K | No change |
| MCY Mercury General Corp. | 0.06% | 4,682 | $499K | New |
| KLAR Klarna Group PLC | 0.06% | 24,539 | $497K | New |
| LXP LXP Industrial Trust | 0.06% | 9,150 | $493K | New |
| RLJ RLJ Lodging Trust | 0.06% | 41,508 | $492K | New |
| MKL Markel Group Inc. | 0.06% | 251 | $490K | Add +24.3% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.06% | 3,814 | $482K | New |
| TRU Transunion | 0.06% | 6,113 | $441K | Reduce -50.8% |
| AIZ Assurant Inc. | 0.05% | 1,576 | $423K | New |
| UHT Universal Health RLTY Income | 0.05% | 9,409 | $413K | No change |
| GSHD Goosehead Insurance Inc. Class A | 0.05% | 7,925 | $384K | New |
Portfolio Sells Q1 2026 → Q2 2026
| EBC Eastern Bankshares Inc. | Sold out | 0.00% | −3.84 |
| RBB RBB Bancorp | Sold out | 0.00% | −3.64 |
| SSB Southstate Bank Corp. | Reduce -43.6% | 5.69% | −2.42 |
| HTB Hometrust Bancshares Inc. | Reduce -46.0% | 5.43% | −2.03 |
| BKU Bankunited Inc. | Sold out | 0.00% | −1.94 |
| ONB Old National Bancorp | Sold out | 0.00% | −1.78 |
| SMBC Southern Missouri Bancorp | Sold out | 0.00% | −1.46 |
| INDB Independent Bank Corp. | Sold out | 0.00% | −1.40 |
| NTRS Northern Trust Corp. | Sold out | 0.00% | −1.24 |
| BAC Bank of America Corp. | Sold out | 0.00% | −1.04 |
| MS Morgan Stanley | Sold out | 0.00% | −1.04 |
| WSBC Wesbanco Inc. | Sold out | 0.00% | −0.95 |
| JMSB John Marshall Bancorp Inc. | Sold out | 0.00% | −0.94 |
| ABCB Ameris Bancorp | Reduce -80.4% | 0.31% | −0.88 |
| CFG Citizens Financial Group | Sold out | 0.00% | −0.85 |
| SFBS Servisfirst Bancshares Inc. | Sold out | 0.00% | −0.66 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −0.65 |
| XZO Exzeo Group Inc. | Reduce -67.2% | 0.49% | −0.64 |
| VIRT Virtu Financial Inc. Class A | Sold out | 0.00% | −0.62 |
| PLMR Palomar Holdings Inc. | Sold out | 0.00% | −0.61 |
| AMTB Amerant Bancorp Inc. | Sold out | 0.00% | −0.61 |
| USB US Bancorp | Sold out | 0.00% | −0.57 |
| ESNT Essent Group Ltd. | Sold out | 0.00% | −0.49 |
| PHM Pultegroup Inc. | Sold out | 0.00% | −0.47 |
| HCI Hci Group Inc. | Reduce -79.1% | 0.18% | −0.47 |
| OMF Onemain Holdings Inc. | Sold out | 0.00% | −0.46 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.42 |
| NDAQ Nasdaq Inc. | Sold out | 0.00% | −0.41 |
| EQIX Equinix Inc. | Sold out | 0.00% | −0.39 |
| EGBN Eagle Bancorp Inc. | Sold out | 0.00% | −0.36 |
| BXMT Blackstone Mortgage Tru Class A | Sold out | 0.00% | −0.35 |
| JLL Jones Lang Lasalle Inc. | Reduce -40.9% | 0.76% | −0.33 |
| THG Hanover Insurance Group Inc./ | Reduce -82.4% | 0.11% | −0.33 |
| QCRH QCR Holdings Inc. | Sold out | 0.00% | −0.31 |
| PNC PNC Financial Services Group | Sold out | 0.00% | −0.29 |
| AUB Atlantic Union Bankshares Co. | Sold out | 0.00% | −0.29 |
| ADC Agree Realty Corp. | Sold out | 0.00% | −0.27 |
| AKR Acadia Realty Trust | Sold out | 0.00% | −0.23 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.23 |
| AXS Axis Capital Holdings Ltd. | Sold out | 0.00% | −0.23 |
| UNM Unum Group | Sold out | 0.00% | −0.22 |
| SKWD Skyward Specialty Insurance | Reduce -60.8% | 0.28% | −0.18 |
| SNDA Sonida Senior Living Inc. | Sold out | 0.00% | −0.17 |
| MAA Mid-America Apartment Comm | Reduce -84.3% | 0.03% | −0.12 |
| EFC Ellington Financial Inc. | Sold out | 0.00% | −0.11 |
| HQY Healthequity Inc. | Sold out | 0.00% | −0.11 |
| ELS Equity Lifestyle Properties | Sold out | 0.00% | −0.09 |
| BEN Franklin Templeton Inc. | Reduce -61.0% | 0.14% | −0.08 |
| SBRA Sabra Health Care REIT Inc. | Sold out | 0.00% | −0.08 |
| IVT Inventrust Properties Corp. | Reduce -40.6% | 0.31% | −0.08 |
Portfolio Buys Q1 2026 → Q2 2026
| BOH Bank of Hawaii Corp. | New | 3.31% | +3.31 |
| TFC Truist Financial Corp. | New | 2.89% | +2.89 |
| TOWN Towne Bank | Add +80.1% | 4.74% | +2.62 |
| SFST Southern First Bancshares | Add +10.5% | 7.08% | +2.12 |
| CVBF CVB Financial Corp. | Add +52.1% | 3.79% | +1.93 |
| UMBF Umb Financial Corp. | Add +191.5% | 2.36% | +1.81 |
| EQBK Equity Bancshares Inc. Class A | Add +4.4% | 6.11% | +1.51 |
| SBCF Seacoast Banking Corp. | Add +11.1% | 4.34% | +1.25 |
| HBAN Huntington Bancshares Inc. | Add +22.1% | 3.14% | +1.17 |
| LPLA LPL Financial Holdings Inc. | New | 1.10% | +1.10 |
| WFC Wells Fargo & Co. | New | 0.87% | +0.87 |
| FAF First American Financial | New | 0.82% | +0.82 |
| NLY Annaly Capital Management Inc. | Add +127.6% | 1.07% | +0.67 |
| SKY Champion Homes Inc. | New | 0.58% | +0.58 |
| MIAX Miami International Holdings | New | 0.58% | +0.58 |
| AHR American Healthcare REIT Inc. | Add +117.4% | 0.86% | +0.55 |
| MKTX Marketaxess Holdings Inc. | New | 0.55% | +0.55 |
| FCFS Firstcash Holdings Inc. | Add +313.1% | 0.64% | +0.52 |
| CME Cme Group Inc. | New | 0.51% | +0.51 |
| ETOR Etoro Group Ltd. Class A | New | 0.37% | +0.37 |
| AJG Arthur J Gallagher & Co. | New | 0.34% | +0.34 |
| UDR Udr Inc. | New | 0.31% | +0.31 |
| HLI Houlihan Lokey Inc. | New | 0.30% | +0.30 |
| TRTX TPG Re Finance Trust Inc. | New | 0.27% | +0.27 |
| ALLY Ally Financial Inc. | New | 0.25% | +0.25 |
| TOL Toll Brothers Inc. | Add +60.4% | 0.41% | +0.22 |
| RGA Reinsurance Group of America | Add +65.4% | 0.44% | +0.22 |
| FHI Federated Hermes Inc. | Add +262.5% | 0.27% | +0.20 |
| RWT Redwood Trust Inc. | New | 0.19% | +0.19 |
| XYZ Block Inc. | New | 0.16% | +0.16 |
| BRX Brixmor Property Group Inc. | Add +52.1% | 0.29% | +0.14 |
| PDM Piedmont Realty Trust Inc. | New | 0.12% | +0.12 |
| DRH Diamondrock Hospitality Co. | New | 0.11% | +0.11 |
| AFRM Affirm Holdings Inc. | New | 0.11% | +0.11 |
| GL Globe Life Inc. | Add +11.7% | 0.27% | +0.11 |
| RKT Rocket Cos Inc. Class A | New | 0.10% | +0.10 |
| SYF Synchrony Financial | Add +96.0% | 0.17% | +0.10 |
| SLDE Slide Insurance Holdings Inc. | New | 0.10% | +0.10 |
| EG Everest Group Ltd. | New | 0.10% | +0.10 |
| CHYM Chime Financial Inc. Class A | New | 0.10% | +0.10 |
| CTO Cto Realty Growth Inc. | Add +3.9% | 0.34% | +0.10 |
| AMH American Homes 4 Rent- A | New | 0.09% | +0.09 |
| AFG American Financial Group Inc. | New | 0.09% | +0.09 |
| EGP Eastgroup Properties Inc. | Add +18.6% | 0.25% | +0.08 |
| JAN Janus Living Inc. Class-A-1 | New | 0.08% | +0.08 |
| MSIF MSC Income Fund Inc. | Add +20.6% | 0.31% | +0.08 |
| FR First Industrial Realty TR | Add +3.9% | 0.35% | +0.07 |
| ELV Elevance Health Inc. | New | 0.07% | +0.07 |
| CPT Camden Property Trust | New | 0.07% | +0.07 |
| MCY Mercury General Corp. | New | 0.06% | +0.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 120 | $770.4M | SFST, EQBK, NIC, SSB, BCAL |
| Q1 2026 | 126 | $888.1M | SSB, HTB, NIC, SFST, EQBK |
| Q4 2025 | 128 | $905.8M | SSB, HTB, EQBK, SBCF, SFST |
| Q3 2025 | 142 | $936.6M | HTB, SSB, EQBK, WBS, SBCF |
| Q2 2025 | 128 | $943.0M | HTB, SSB, EQBK, WAL, INDB |
| Q1 2025 | 111 | $966.2M | HTB, SSB, EQBK, ABCB, WAL |
| Q4 2024 | 111 | $861.8M | HTB, EQBK, RBB, SFST, OSBC |
| Q3 2024 | 120 | $954.3M | HTB, IBTX, EQBK, RBB, HTBK |
| Q2 2024 | 109 | $956.5M | HTBK, HTB, IBTX, BANC, WAL |
| Q1 2024 | 98 | $983.0M | IBTX, HTB, FBMS, IBCP, WAL |