FJ Capital Management LLC

CIK 0001599170 · Q2 2026

13F Equity AUM

$770.4M

-13.3% QoQ

Positions

120

-6 QoQ

AUM Rank

#2,828

Top 33%

Skill Alpha (FF)

+10.8%/yr

Alpha Generator

Rank #335 · Top 4%

vs S&P +0.1%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 30.4%Top 10: 53.4%Top 20: 77.2%

SFST7.1%

EQBK6.1%

NIC6.0%

SSB5.7%

BCAL5.6%

HTB5.4%

TOWN4.7%

OSBC4.4%

SBG14.3%

FRME4.0%

Others (110)46.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services86.7%

Real Estate6.9%

Financials4.4%

Other2.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 120Median: 0.17%Avg: 0.83%

0–0.5%

84(11.7%)

0.5–1%

16(11.1%)

1–3%

6(10.4%)

3–5%

8(31.0%)

5%+

6(35.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 120vs 20 funds

0%Low

120

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New47Increased30Decreased27Exited53

New Positions

BOH3.3%

+313K

TFC2.9%

+446K

LPLA1.1%

+30K

WFC0.9%

+81K

FAF0.8%

+92K

MIAX0.6%

+119K

SKY0.6%

+50K

MKTX0.6%

+37K

CME0.5%

+18K

ETOR0.4%

+73K

Increased

TOWN4.7%

+448K(+80%)

CVBF3.8%

+444K(+52%)

HBAN3.1%

+247K(+22%)

NLY1.1%

+211K(+128%)

SBG14.3%

+100K(+11%)

SFST7.1%

+85K(+11%)

UMBF2.4%

+84K(+191%)

AHR0.9%

+69K(+117%)

RPC0.1%

+56K(+503%)

EQBK6.1%

+40K(+4%)

Decreased

HTB5.4%

-715,310(-46%)

XZO0.5%

-458,652(-67%)

SSB5.7%

-339,654(-44%)

ABCB0.3%

-108,491(-80%)

SKWD0.3%

-57,413(-61%)

BEN0.1%

-52,309(-61%)

COS0.5%

-49,601(-38%)

IVT0.3%

-45,411(-41%)

OSBC4.4%

-44,689(-3%)

HBNC3.2%

-44,658(-3%)

Exited

-1,741,864

-1,511,408

-380,554

-717,018

-202,427

-165,653

-79,026

-56,089

-189,376

-243,843

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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