13F HOLDINGS REPORT
FJ Capital Management LLC
Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001420506-25-002176
Total Value
$943.0M
Positions
128
Other Managers
0
Confidential Omitted
No
Holdings (128)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | HOMETRUST BANCSHARES INC | HTB | 1,732,877 | $64.8M | 6.87% |
| 2 | SOUTHSTATE CORPORATION | SSB | 702,355 | $64.6M | 6.85% |
| 3 | EQUITY BANCSHARES INC | EQBK | 1,126,096 | $45.9M | 4.87% |
| 4 | WESTERN ALLIANCE BANCORP | WAL-PA | 549,146 | $42.8M | 4.54% |
| 5 | INDEPENDENT BK CORP MASS | 453836108 | 649,320 | $40.8M | 4.33% |
| 6 | AMERIS BANCORP | ABCB | 602,320 | $39.0M | 4.13% |
| 7 | WEBSTER FINL CORP | 947890109 | 679,914 | $37.1M | 3.94% |
| 8 | OLD SECOND BANCORP INC ILL | OSBC | 1,837,333 | $32.6M | 3.46% |
| 9 | SEACOAST BKG CORP FLA | SE | 1,154,434 | $31.9M | 3.38% |
| 10 | SOUTHERN FIRST BANCSHARES | SFST | 807,223 | $30.7M | 3.26% |
| 11 | RBB BANCORP | RBB | 1,766,083 | $30.4M | 3.22% |
| 12 | LINKBANCORP INC | LNKB | 3,728,660 | $27.3M | 2.89% |
| 13 | HERITAGE COMM CORP | HTBK | 2,344,722 | $23.3M | 2.47% |
| 14 | ZIONS BANCORPORATION N A | 989701107 | 442,549 | $23.0M | 2.44% |
| 15 | MIDWESTONE FINL GROUP INC NE | 598511103 | 766,202 | $22.0M | 2.34% |
| 16 | INDEPENDENT BK CORP MICH | 453838609 | 664,680 | $21.5M | 2.28% |
| 17 | QCR HOLDINGS INC | QCRH | 296,530 | $20.1M | 2.14% |
| 18 | CALIFORNIA BANCORP | BCAL | 1,271,636 | $20.0M | 2.13% |
| 19 | BANC OF CALIFORNIA INC | BANC-PF | 1,365,440 | $19.2M | 2.03% |
| 20 | SOUTHERN MO BANCORP INC | SOMN | 282,942 | $15.5M | 1.64% |
| 21 | COMMUNITY FINANCIAL SYSTEM I | CBU | 270,197 | $15.4M | 1.63% |
| 22 | ESSA BANCORP INC | 29667D104 | 684,979 | $13.3M | 1.41% |
| 23 | OLD NATL BANCORP IND | 680033107 | 617,226 | $13.2M | 1.40% |
| 24 | TOWNEBANK PORTSMOUTH VA | 89214P109 | 301,231 | $10.3M | 1.09% |
| 25 | FIRST BUSEY CORP | BUSEP | 410,186 | $9.4M | 1.00% |
| 26 | MID PENN BANCORP INC | MPB | 328,705 | $9.3M | 0.98% |
| 27 | WELLS FARGO CO NEW | 949746101 | 105,067 | $8.4M | 0.89% |
| 28 | MORGAN STANLEY | MS-PQ | 57,696 | $8.1M | 0.86% |
| 29 | MERCHANTS BANCORP IND | MBINN | 238,580 | $7.9M | 0.84% |
| 30 | JOHN MARSHALL BANCORP INC | JMSB | 413,353 | $7.7M | 0.81% |
| 31 | CHAIN BRIDGE BANCORP INC | CBNA | 293,788 | $7.6M | 0.80% |
| 32 | FIRST FNDTN INC | 32026V104 | 1,478,574 | $7.5M | 0.80% |
| 33 | FVCBANKCORP INC | FVCB | 632,902 | $7.5M | 0.79% |
| 34 | FIRST SVGS FINL GROUP INC | 33621E109 | 282,864 | $7.1M | 0.75% |
| 35 | US BANCORP DEL | USB-PS | 150,588 | $6.8M | 0.72% |
| 36 | HAWTHORN BANCSHARES INC | HWBK | 221,156 | $6.4M | 0.68% |
| 37 | JONES LANG LASALLE INC | JLL | 22,352 | $5.7M | 0.61% |
| 38 | WINTRUST FINL CORP | 97650W108 | 44,920 | $5.6M | 0.59% |
| 39 | CITIZENS CMNTY BANCORP INC M | CIA | 383,656 | $5.3M | 0.56% |
| 40 | SB FINL GROUP INC | 78408D105 | 265,791 | $5.1M | 0.54% |
| 41 | HANOVER INS GROUP INC | 410867105 | 27,523 | $4.7M | 0.50% |
| 42 | WELLTOWER INC | WELL | 28,454 | $4.4M | 0.46% |
| 43 | TAYLOR MORRISON HOME CORP | TMHC | 69,594 | $4.3M | 0.45% |
| 44 | PULTE GROUP INC | 745867101 | 40,391 | $4.3M | 0.45% |
| 45 | BROWN & BROWN INC | BRO | 35,958 | $4.0M | 0.42% |
| 46 | P10 INC | 69376K106 | 365,657 | $3.7M | 0.40% |
| 47 | SYNCHRONY FINANCIAL | SYF-PB | 54,295 | $3.6M | 0.38% |
| 48 | CINCINNATI FINL CORP | 172062101 | 22,656 | $3.4M | 0.36% |
| 49 | RIVERVIEW BANCORP INC | RVSB | 606,634 | $3.3M | 0.35% |
| 50 | REINSURANCE GRP OF AMERICA I | 759351604 | 16,488 | $3.3M | 0.35% |
| 51 | FIFTH DIST BANCORP INC | 316926104 | 247,691 | $3.1M | 0.32% |
| 52 | RITHM CAPITAL CORP | RITM-PF | 246,278 | $2.8M | 0.29% |
| 53 | HERCULES CAPITAL INC | HCXY | 150,435 | $2.7M | 0.29% |
| 54 | NMI HLDGS INC | NMIH | 63,610 | $2.7M | 0.28% |
| 55 | MERCURY GENL CORP NEW | 589400100 | 38,074 | $2.6M | 0.27% |
| 56 | NASDAQ INC | NDAQ | 27,803 | $2.5M | 0.26% |
| 57 | MAREX GROUP PLC | MRX | 62,696 | $2.5M | 0.26% |
| 58 | LADDER CAP CORP | LADR | 228,343 | $2.5M | 0.26% |
| 59 | MID-AMER APT CMNTYS INC | 59522J103 | 16,574 | $2.5M | 0.26% |
| 60 | PALOMAR HLDGS INC | PLMR | 15,810 | $2.4M | 0.26% |
| 61 | WESBANCO INC | WSBCO | 75,085 | $2.4M | 0.25% |
| 62 | AMERICAN HEALTHCARE REIT INC | AHR | 62,994 | $2.3M | 0.25% |
| 63 | GOOSEHEAD INS INC | GSHD | 21,705 | $2.3M | 0.24% |
| 64 | AGREE RLTY CORP | 008492100 | 30,114 | $2.2M | 0.23% |
| 65 | HOULIHAN LOKEY INC | HLI | 12,082 | $2.2M | 0.23% |
| 66 | CME GROUP INC | CME | 7,795 | $2.1M | 0.23% |
| 67 | NORTHPOINTE BANCSHARES INC. | NPB | 155,000 | $2.1M | 0.23% |
| 68 | UNITED CMNTY BKS BLAIRSVLE G | UNTCW | 67,695 | $2.0M | 0.21% |
| 69 | MILLROSE PPTYS INC | 601137102 | 66,444 | $1.9M | 0.20% |
| 70 | PHILLIPS EDISON & CO INC | PECO | 49,464 | $1.7M | 0.18% |
| 71 | HCI GROUP INC | HCIIP | 11,211 | $1.7M | 0.18% |
| 72 | ACADIA RLTY TR | 004239109 | 89,739 | $1.7M | 0.18% |
| 73 | APOLLO COML REAL EST FIN INC | 03762U105 | 165,317 | $1.6M | 0.17% |
| 74 | JEFFERSON CAPITAL INC | JCAP | 86,387 | $1.6M | 0.17% |
| 75 | SKYWARD SPECIALTY INS GROUP | 830940102 | 26,678 | $1.5M | 0.16% |
| 76 | LAKELAND FINL CORP | 511656100 | 21,793 | $1.3M | 0.14% |
| 77 | GLOBE LIFE INC | GL-PD | 10,751 | $1.3M | 0.14% |
| 78 | HOME BANCORP INC | HBCP | 24,269 | $1.3M | 0.13% |
| 79 | ARES MANAGEMENT CORPORATION | ARES-PB | 6,911 | $1.2M | 0.13% |
| 80 | EZCORP INC | EZPW | 83,575 | $1.2M | 0.12% |
| 81 | ANNALY CAPITAL MANAGEMENT IN | NLY-PJ | 52,796 | $993,621 | 0.11% |
| 82 | ALLY FINL INC | 02005N100 | 23,885 | $930,321 | 0.10% |
| 83 | VORNADO RLTY TR | 929042109 | 23,492 | $898,334 | 0.10% |
| 84 | JANUS HENDERSON GROUP PLC | JHG | 21,887 | $850,091 | 0.09% |
| 85 | AMERIPRISE FINL INC | 03076C106 | 1,508 | $804,865 | 0.09% |
| 86 | ARTISAN PARTNERS ASSET MGMT | 04316A108 | 17,540 | $777,548 | 0.08% |
| 87 | CAPITAL SOUTHWEST CORP | CSWC | 35,067 | $772,877 | 0.08% |
| 88 | EXTRA SPACE STORAGE INC | EXR | 5,225 | $770,374 | 0.08% |
| 89 | SMARTSTOP SELF STORAG REIT I | 83192D402 | 20,922 | $758,004 | 0.08% |
| 90 | BRIGHTHOUSE FINL INC | 10922N103 | 12,719 | $683,901 | 0.07% |
| 91 | COUSINS PPTYS INC | 222795502 | 21,941 | $658,888 | 0.07% |
| 92 | SABRA HEALTH CARE REIT INC | SBRA | 35,284 | $650,637 | 0.07% |
| 93 | VISA INC | V | 1,806 | $641,220 | 0.07% |
| 94 | HIGHWOODS PPTYS INC | 431284108 | 19,833 | $616,608 | 0.07% |
| 95 | CAMDEN PPTY TR | 133131102 | 5,438 | $612,808 | 0.06% |
| 96 | TRAVELERS COMPANIES INC | TRV | 2,199 | $588,320 | 0.06% |
| 97 | REDWOOD TRUST INC | RWTQ | 92,924 | $549,181 | 0.06% |
| 98 | CRESCENT CAP BDC INC | 225655109 | 37,640 | $530,724 | 0.06% |
| 99 | ACI WORLDWIDE INC | ACIW | 9,306 | $427,238 | 0.05% |
| 100 | VOYA FINANCIAL INC | VOYA-PB | 5,640 | $400,440 | 0.04% |
| 101 | Q2 HLDGS INC | QTWO | 4,236 | $396,447 | 0.04% |
| 102 | DIGITAL RLTY TR INC | 253868103 | 2,247 | $391,720 | 0.04% |
| 103 | FRANKLIN RESOURCES INC | BEN | 16,375 | $390,544 | 0.04% |
| 104 | AMERICAN TOWER CORP NEW | 03027X100 | 1,758 | $388,553 | 0.04% |
| 105 | UNUM GROUP | UNMA | 4,799 | $387,567 | 0.04% |
| 106 | BLUE OWL CAPITAL INC | OWL | 20,130 | $386,697 | 0.04% |
| 107 | FISERV INC | FISV | 2,098 | $361,716 | 0.04% |
| 108 | HOME FED BANCORP INC LA NEW | 43708L108 | 24,866 | $338,178 | 0.04% |
| 109 | UNIVERSAL HEALTH RLTY INCOME | 91359E105 | 8,277 | $330,832 | 0.04% |
| 110 | CNB FINL CORP PA | 126128107 | 13,910 | $317,983 | 0.03% |
| 111 | FIDELITY NATL INFORMATION SV | 31620M106 | 3,600 | $293,076 | 0.03% |
| 112 | BLACKROCK INC | BLK | 279 | $292,741 | 0.03% |
| 113 | SOUND FINL BANCORP INC | 83607A100 | 6,199 | $285,154 | 0.03% |
| 114 | ALLSTATE CORP | ALL-PJ | 1,414 | $284,652 | 0.03% |
| 115 | DAVE INC | 23834J201 | 1,046 | $280,757 | 0.03% |
| 116 | TOAST INC | TOST | 6,214 | $275,218 | 0.03% |
| 117 | SL GREEN RLTY CORP | 78440X887 | 4,329 | $267,965 | 0.03% |
| 118 | MSCI INC | MSCI | 456 | $262,993 | 0.03% |
| 119 | UNITEDHEALTH GROUP INC | UNH | 835 | $260,495 | 0.03% |
| 120 | STEPSTONE GROUP INC | STEP | 4,651 | $258,131 | 0.03% |
| 121 | ESSENTIAL PPTYS RLTY TR INC | 29670E107 | 7,520 | $239,963 | 0.03% |
| 122 | KKR & CO INC | KKRT | 1,761 | $234,266 | 0.02% |
| 123 | NETSTREIT CORP | NTST | 13,747 | $232,737 | 0.02% |
| 124 | GERMAN AMERN BANCORP INC | 373865104 | 5,917 | $227,864 | 0.02% |
| 125 | WP CAREY INC | 92936U109 | 3,476 | $216,833 | 0.02% |
| 126 | BROADSTONE NET LEASE INC | BNL | 12,754 | $204,702 | 0.02% |
| 127 | CARLYLE GROUP INC | CGABL | 3,946 | $202,824 | 0.02% |
| 128 | AMBAC FINL GROUP INC | OSG | 24,677 | $175,207 | 0.02% |