FJ Capital Management LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), FJ Capital Management LLC reported 120 stock positions worth $954.3 million. Its top holding was Hometrust Bancshares (HTB) at 6.1% of the portfolio, followed by Independent Bank (IBTX, 6.0%) and Equity Bancshares Class A (EQBK, 4.4%). Compared with Q2 2024, it opened 49 new positions, sold out of 38, added to 22 and reduced 38. The biggest buy was a new position in Brookline Bancorp and the biggest sale First Bancshares (FBMS, shares −87%).

Most Recent 13F
Q2 2026
Location
MCLEAN, VA
CIK
0001599170
Portfolio Value
$954.3M (Q3 2024)
SEC Filing
0001420506-24-002539 ↗ filed Nov 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $983.0M Q1 2024 Q2 2024: $956.5M Q2 2024 Q3 2024: $954.3M $954.3M Q3 2024 Q4 2024: $861.8M Q4 2024 Q1 2025: $966.2M Q1 2025 Q2 2025: $943.0M Q2 2025 Q3 2025: $936.6M Q3 2025 Q4 2025: $905.8M Q4 2025 Q1 2026: $888.1M Q1 2026 Q2 2026: $770.4M Q2 2026

Holdings 120 stocks · $954.3M
HTB Hometrust Bancshares Inc. 6.11% 1,711,539 $58.3M Reduce -0.2%
IBTX Independent Bank Group Inc. 5.96% 986,846 $56.9M Reduce -8.6%
EQBK Equity Bancshares Inc. Class A 4.40% 1,027,157 $42.0M Add +11.6%
RBB RBB Bancorp 4.16% 1,725,945 $39.7M Reduce -2.3%
HTBK Heritage Commerce Corp. 3.76% 3,635,570 $35.9M Reduce -39.3%
HBCP Home Bancorp Inc. 3.68% 788,106 $35.1M No change
BANC Banc of California Inc. 3.36% 2,179,722 $32.1M Reduce -35.8%
OSBC Old Second Bancorp Inc. 3.06% 1,870,988 $29.2M Add +7.5%
SFST Southern First Bancshares 2.88% 807,223 $27.5M No change
IBCP Independent Bank Corp. - Mich 2.81% 805,367 $26.9M Reduce -33.6%
ABCB Ameris Bancorp 2.63% 402,509 $25.1M Reduce -43.9%
QCRH QCR Holdings Inc. 2.60% 335,374 $24.8M Reduce -22.2%
SMBC Southern Missouri Bancorp 2.56% 431,687 $24.4M Reduce -13.0%
BROOKLINE BANCORP INC 2.42% 2,292,669 $23.1M New
WAL Western Alliance Bancorp 2.35% 259,290 $22.4M Reduce -58.0%
FVCB Fvcbankcorp Inc. 2.34% 1,710,099 $22.3M Add +1.9%
SBT Sterling Bancorp Inc. 2.04% 4,288,735 $19.5M Add +1.4%
EVBN Evans Bancorp Inc. 2.02% 493,510 $19.2M Reduce -8.7%
LNKB Linkbancorp Inc. 1.95% 2,902,289 $18.6M Reduce -7.7%
FSBC Five Star Bancorp 1.94% 622,469 $18.5M Reduce -4.9%
ESSA Essa Bancorp Inc. 1.90% 941,992 $18.1M No change
SFNC Simmons First Natl Corp. Class A 1.84% 817,386 $17.6M New
CMA Comerica Inc. 1.83% 291,940 $17.5M New
MOFG Midwestone Financial Group I 1.80% 602,875 $17.2M Add +343.0%
HWBK Hawthorn Bancshares Inc. 1.33% 506,624 $12.7M Add +0.2%
CZWI Citizens Community Bancorp I 1.22% 821,594 $11.6M Reduce -13.7%
HMNF HMN Financial Inc. 1.16% 396,944 $11.1M Reduce -6.4%
SSB Southstate Bank Corp. 1.10% 108,356 $10.5M Add +66.2%
WSBC Wesbanco Inc. 1.09% 349,747 $10.4M New
RVSB Riverview Bancorp Inc. 1.07% 2,173,569 $10.2M No change
ONB Old National Bancorp 1.07% 546,959 $10.2M Add +7.8%
FSFG First Savings Financial Grp 0.98% 394,472 $9.4M No change
COLB Columbia Banking System Inc. 0.98% 358,878 $9.4M New
PBFS Pioneer Bancorp Inc. 0.92% 803,529 $8.8M Reduce -41.4%
PB Prosperity Bancshares Inc. 0.88% 116,598 $8.4M Reduce -14.1%
FCCO First Community Corp. 0.87% 389,061 $8.3M No change
SBFG SB Financial Group Inc. filed as SB FINL GROUP INC 0.80% 373,521 $7.7M No change
EBC Eastern Bankshares Inc. 0.76% 440,186 $7.2M Reduce -77.7%
SFBC Sound Financial Bancorp Inc. 0.67% 118,866 $6.4M Reduce -41.6%
FDSB Fifth District Bancorp Inc. 0.60% 553,783 $5.7M New
OPOF Old Point Financial Corp. 0.56% 278,673 $5.4M No change
FBMS First Bancshares Inc. 0.56% 167,274 $5.4M Reduce -86.9%
TMHC Taylor Morrison Home Corp. 0.51% 69,235 $4.9M Add +8.2%
COOP Mr Cooper Group Inc. 0.45% 46,683 $4.3M New
TFSL TFS Financial Corp. 0.44% 328,573 $4.2M New
JLL Jones Lang Lasalle Inc. 0.43% 15,333 $4.1M Reduce -1.5%
ESNT Essent Group Ltd. 0.42% 62,852 $4.0M New
HCI Hci Group Inc. 0.42% 37,568 $4.0M Add +61.4%
MHO M/I Homes Inc. 0.39% 21,463 $3.7M New
SF Stifel Financial Corp. 0.37% 37,688 $3.5M New
ELV Elevance Health Inc. 0.35% 6,472 $3.4M Add +75.6%
WTW Willis Towers Watson PLC 0.35% 11,399 $3.4M Add +64.7%
ENVA Enova International Inc. 0.31% 35,405 $3.0M New
ALL Allstate Corp. 0.30% 15,285 $2.9M Add +24.0%
BRO Brown & Brown Inc. 0.30% 27,929 $2.9M Reduce -5.4%
FNF Fidelity National Financial 0.28% 43,754 $2.7M New
WELL Welltower Inc. 0.28% 20,642 $2.6M Reduce -6.6%
PLMR Palomar Holdings Inc. 0.28% 27,783 $2.6M New
PWP Perella Weinberg Partners 0.27% 135,700 $2.6M New
GSHD Goosehead Insurance Inc. Class A 0.25% 26,519 $2.4M Add +273.1%
FOR Forestar Group Inc. 0.25% 72,337 $2.3M Add +40.6%
ACGL Arch Capital Group Ltd. 0.24% 20,442 $2.3M Reduce -25.7%
JMSB John Marshall Bancorp Inc. 0.23% 111,083 $2.2M Reduce -56.1%
RGA Reinsurance Group of America 0.22% 9,843 $2.1M Add +16.8%
MYFW First Western Financial Inc. 0.22% 105,611 $2.1M Reduce -68.7%
BCAL California Bancorp 0.22% 142,252 $2.1M Reduce -73.8%
KMPR Kemper Corp. 0.22% 34,171 $2.1M Reduce -11.7%
PGR Progressive Corp. 0.21% 7,948 $2.0M Reduce -27.9%
NLY Annaly Capital Management Inc. 0.19% 91,280 $1.8M Reduce -52.4%
AKR Acadia Realty Trust 0.18% 73,086 $1.7M Reduce -45.1%
GL Globe Life Inc. 0.17% 15,255 $1.6M Add +297.8%
BCML Baycom Corp. 0.16% 64,836 $1.5M No change
ARES Ares Management Corp. Class A 0.16% 9,805 $1.5M Add +111.5%
GBDC Golub Capital BDC Inc. 0.15% 93,061 $1.4M Reduce -23.0%
RPC Ridgepost Capital Inc. Class A filed as P10 INC 0.14% 127,233 $1.4M Add +244.5%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.14% 40,378 $1.3M New
JEF Jefferies Financial Group Inc. 0.14% 21,841 $1.3M New
RKT Rocket Cos Inc. Class A 0.14% 70,052 $1.3M New
MFIC Midcap Financial Investment 0.13% 92,316 $1.2M New
FR First Industrial Realty TR 0.12% 20,709 $1.2M New
SKWD Skyward Specialty Insurance 0.12% 27,802 $1.1M New
MAIN Main Street Capital Corp. 0.11% 21,664 $1.1M New
SLF Sun Life Financial Inc. 0.11% 18,607 $1.1M New
PECO Phillips Edison & Company Inc. 0.11% 28,485 $1.1M Reduce -49.7%
VOYA Voya Financial Inc. 0.11% 12,866 $1.0M Add +191.8%
JPM JPMorgan Chase & Co. 0.11% 4,767 $1.0M New
SPGI S&P Global Inc. 0.11% 1,943 $1.0M Add +64.0%
SHBI Shore Bancshares Inc. 0.10% 69,706 $975K No change
DX Dynex Capital Inc. 0.10% 73,507 $938K New
EFX Equifax Inc. 0.10% 3,127 $919K New
AMP Ameriprise Financial Inc. 0.10% 1,937 $910K Reduce -10.7%
STEP Stepstone Group Inc. Class A 0.10% 15,968 $907K New
O Realty Income Corp. 0.09% 13,138 $833K New
THG Hanover Insurance Group Inc./ 0.09% 5,491 $813K New
JHG Janus Henderson Group PLC 0.08% 21,172 $806K New
ACIW Aci Worldwide Inc. 0.08% 15,831 $806K New
BXMT Blackstone Mortgage Tru Class A 0.08% 42,279 $804K New
FOUR SHIFT4 Payments Inc. Class A 0.08% 8,399 $744K New
MA Mastercard Inc. Class A 0.07% 1,353 $668K New
KKR KKR & Co. Inc. 0.07% 4,899 $640K New
BRDG Bridge Investment Grp HDS-A 0.07% 64,689 $638K New
BPOP Popular Inc. 0.07% 6,221 $624K New
QNST Quinstreet Inc. 0.06% 32,036 $613K New
HLNE Hamilton Lane Inc. Class A 0.06% 3,572 $601K Reduce -61.6%
APO Apollo Global Management Inc. 0.06% 4,781 $597K New
FDS Factset Research Systems Inc. 0.06% 1,282 $590K New
AHR American Healthcare REIT Inc. 0.06% 22,063 $576K Add +49.6%
EVER Everquote Inc. Class A 0.06% 25,708 $542K Reduce -60.5%
INVH Invitation Homes Inc. 0.06% 15,017 $529K New
IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L 0.05% 23,825 $453K New
PSA Public Storage 0.05% 1,208 $440K Reduce -19.7%
HFBL Home Federal Bancorp Inc. 0.05% 34,866 $439K No change
CIM Chimera Investment Corp. 0.05% 27,196 $431K New
AMG Affiliated Managers Group 0.04% 2,301 $409K Reduce -43.5%
TRTX TPG Re Finance Trust Inc. 0.04% 43,910 $375K New
GTY Getty Realty Corp. 0.04% 11,581 $368K New
MSCI MSCI Inc. 0.03% 485 $283K New
HIW Highwoods Properties Inc. 0.03% 7,126 $239K New
COLD Americold Realty Trust Inc. 0.02% 7,388 $209K New
GLPI Gaming and Leisure Propertie 0.02% 3,924 $202K New

Portfolio Sells Q2 2024 → Q3 2024
FBMS First Bancshares Inc. Reduce -86.9% 0.56% −2.90
MSBI Midland States Bancorp Inc. Sold out 0.00% −2.59
EBC Eastern Bankshares Inc. Reduce -77.7% 0.76% −2.13
WAL Western Alliance Bancorp Reduce -58.0% 2.35% −1.71
HTBK Heritage Commerce Corp. Reduce -39.3% 3.76% −1.68
MBIN Merchants Bancorp Sold out 0.00% −1.17
BANC Banc of California Inc. Reduce -35.8% 3.36% −1.17
VBTX Veritex Holdings Inc. Sold out 0.00% −1.17
ABCB Ameris Bancorp Reduce -43.9% 2.63% −1.15
WTFC Wintrust Financial Corp. Sold out 0.00% −0.91
CBSH Commerce Bancshares Inc. Sold out 0.00% −0.75
IBCP Independent Bank Corp. - Mich Reduce -33.6% 2.81% −0.61
STEL Stellar Bancorp Inc. Sold out 0.00% −0.59
BCAL California Bancorp Reduce -73.8% 0.22% −0.54
PBFS Pioneer Bancorp Inc. Reduce -41.4% 0.92% −0.51
UBFO United Security Bancshare Sold out 0.00% −0.46
MYFW First Western Financial Inc. Reduce -68.7% 0.22% −0.38
PFSI Pennymac Financial Services Sold out 0.00% −0.38
BZH Beazer Homes USA Inc. Sold out 0.00% −0.31
JMSB John Marshall Bancorp Inc. Reduce -56.1% 0.23% −0.23
SFBC Sound Financial Bancorp Inc. Reduce -41.6% 0.67% −0.23
BGC BGC Group Inc. Class A Sold out 0.00% −0.22
GS Goldman Sachs Group Inc. Sold out 0.00% −0.21
TSLX Sixth Street Specialty Lendi Sold out 0.00% −0.21
IBKR Interactive Brokers Gro Class A Sold out 0.00% −0.20
LADR Ladder Capital Corp.-REIT Sold out 0.00% −0.20
SLM SLM Corp. Sold out 0.00% −0.19
NLY Annaly Capital Management Inc. Reduce -52.4% 0.19% −0.19
FBRT Franklin BSP Realty Trust Inc. Sold out 0.00% −0.19
EPRT Essential Properties Realty Sold out 0.00% −0.18
FDUS Fidus Investment Corp. Sold out 0.00% −0.17
ABR Arbor Realty Trust Inc. Sold out 0.00% −0.15
COMP Compass Inc. Class A Sold out 0.00% −0.15
CBOE Cboe Global Markets Inc. Sold out 0.00% −0.15
HOV Hovnanian Enterprises-A Sold out 0.00% −0.14
SIGI Selective Insurance Group Sold out 0.00% −0.13
EZPW Ezcorp Inc. Class A Sold out 0.00% −0.12
EGP Eastgroup Properties Inc. Sold out 0.00% −0.11
NMRK Newmark Group Inc. Class A Sold out 0.00% −0.11
QCRH QCR Holdings Inc. Reduce -22.2% 2.60% −0.10
PFS Provident Financial Services Sold out 0.00% −0.09
OMF Onemain Holdings Inc. Sold out 0.00% −0.09
CFG Citizens Financial Group Sold out 0.00% −0.09
EVER Everquote Inc. Class A Reduce -60.5% 0.06% −0.09
PECO Phillips Edison & Company Inc. Reduce -49.7% 0.11% −0.08
AKR Acadia Realty Trust Reduce -45.1% 0.18% −0.07
CCAP Crescent Capital BDC Inc. Sold out 0.00% −0.07
MKTX Marketaxess Holdings Inc. Sold out 0.00% −0.07
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.06
LNKB Linkbancorp Inc. Reduce -7.7% 1.95% −0.06

Portfolio Buys Q2 2024 → Q3 2024
BROOKLINE BANCORP INC New 2.42% +2.42
SFNC Simmons First Natl Corp. Class A New 1.84% +1.84
CMA Comerica Inc. New 1.83% +1.83
MOFG Midwestone Financial Group I Add +343.0% 1.80% +1.48
WSBC Wesbanco Inc. New 1.09% +1.09
EQBK Equity Bancshares Inc. Class A Add +11.6% 4.40% +1.01
COLB Columbia Banking System Inc. New 0.98% +0.98
FDSB Fifth District Bancorp Inc. New 0.60% +0.60
SSB Southstate Bank Corp. Add +66.2% 1.10% +0.58
COOP Mr Cooper Group Inc. New 0.45% +0.45
TFSL TFS Financial Corp. New 0.44% +0.44
FVCB Fvcbankcorp Inc. Add +1.9% 2.34% +0.42
ESNT Essent Group Ltd. New 0.42% +0.42
MHO M/I Homes Inc. New 0.39% +0.39
SF Stifel Financial Corp. New 0.37% +0.37
OSBC Old Second Bancorp Inc. Add +7.5% 3.06% +0.36
ENVA Enova International Inc. New 0.31% +0.31
FNF Fidelity National Financial New 0.28% +0.28
HWBK Hawthorn Bancshares Inc. Add +0.2% 1.33% +0.28
PLMR Palomar Holdings Inc. New 0.28% +0.28
PWP Perella Weinberg Partners New 0.27% +0.27
GSHD Goosehead Insurance Inc. Class A Add +273.1% 0.25% +0.21
HCI Hci Group Inc. Add +61.4% 0.42% +0.20
WTW Willis Towers Watson PLC Add +64.7% 0.35% +0.16
ONB Old National Bancorp Add +7.8% 1.07% +0.16
ELV Elevance Health Inc. Add +75.6% 0.35% +0.14
JEF Jefferies Financial Group Inc. New 0.14% +0.14
RKT Rocket Cos Inc. Class A New 0.14% +0.14
VICI Vici Properties Inc. New 0.14% +0.14
TMHC Taylor Morrison Home Corp. Add +8.2% 0.51% +0.14
GL Globe Life Inc. Add +297.8% 0.17% +0.14
MFIC Midcap Financial Investment New 0.13% +0.13
FR First Industrial Realty TR New 0.12% +0.12
SKWD Skyward Specialty Insurance New 0.12% +0.12
MAIN Main Street Capital Corp. New 0.11% +0.11
SLF Sun Life Financial Inc. New 0.11% +0.11
RPC Ridgepost Capital Inc. Class A Add +244.5% 0.14% +0.11
JPM JPMorgan Chase & Co. New 0.11% +0.11
DX Dynex Capital Inc. New 0.10% +0.10
ALL Allstate Corp. Add +24.0% 0.30% +0.10
EFX Equifax Inc. New 0.10% +0.10
ARES Ares Management Corp. Class A Add +111.5% 0.16% +0.10
STEP Stepstone Group Inc. Class A New 0.10% +0.10
O Realty Income Corp. New 0.09% +0.09
THG Hanover Insurance Group Inc./ New 0.09% +0.09
JHG Janus Henderson Group PLC New 0.08% +0.08
ACIW Aci Worldwide Inc. New 0.08% +0.08
BXMT Blackstone Mortgage Tru Class A New 0.08% +0.08
FOUR SHIFT4 Payments Inc. Class A New 0.08% +0.08
VOYA Voya Financial Inc. Add +191.8% 0.11% +0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 120$770.4MSFST, EQBK, NIC, SSB, BCAL
Q1 2026 126$888.1MSSB, HTB, NIC, SFST, EQBK
Q4 2025 128$905.8MSSB, HTB, EQBK, SBCF, SFST
Q3 2025 142$936.6MHTB, SSB, EQBK, WBS, SBCF
Q2 2025 128$943.0MHTB, SSB, EQBK, WAL, INDB
Q1 2025 111$966.2MHTB, SSB, EQBK, ABCB, WAL
Q4 2024 111$861.8MHTB, EQBK, RBB, SFST, OSBC
Q3 2024 120$954.3MHTB, IBTX, EQBK, RBB, HTBK
Q2 2024 109$956.5MHTBK, HTB, IBTX, BANC, WAL
Q1 2024 98$983.0MIBTX, HTB, FBMS, IBCP, WAL