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FJ Capital Management LLC
FJ Capital Management LLC is a private investment management firm headquartered in McLean, Virginia. Founded by Martin Friedman in 2007, the firm specializes in investment management, primarily through hedge funds and other pooled investment vehicles. FJ Capital focuses on the financial services sector, particularly small- and mid-cap community and regional banks and other financial companies. The firm has approximately 18 employees, mainly engaged in investment activities, and serves institutional and high-net-worth clients.
Investment Strategy
FJ Capital Management LLC employs a long/short equity strategy with a primary focus on the financial services sector, including community and regional banks, thrifts, and other financial companies. The firm seeks to identify undervalued and promising investment opportunities using a deep fundamental research process and actively manages risk. Its investment philosophy involves bottom-up analysis and capitalizing on structural inefficiencies in the sector, aiming for strong risk-adjusted returns over time.
Latest 13F Filing Activity
FJ Capital Management LLC filed their most recent 13F report on Jun 30, 2025 disclosing 126 equity positions with a total 13F market value of $943M. The fund increased holdings in Seacoast BKG Corp. Fla, Banc of California Inc., Southstate Corporation among other positions. FJ Capital Management LLC reduced exposure to First Intst Bancsystem Inc., Comerica Inc., Sterling Bancorp Inc. among others.
Top Holdings
Equity Positions (126)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SSB | SOUTHSTATE CORPORATION | 6.85% | $64.6M | 702,355 | $91.68 | $92.03 | +$13.0M |
E EQBK | EQUITY BANCSHARES INC | 4.87% | $45.9M | 1,126,096 | $33.61 | $40.80 | -$1.6M |
W WAL | WESTERN ALLIANCE BANCORP | 4.54% | $42.8M | 549,146 | $74.89 | $77.98 | +$8.8M |
I INDB | INDEPENDENT BK CORP MASS | 4.33% | $40.8M | 649,320 | $62.70 | $62.89 | +$8.7M |
A ABCB | AMERIS BANCORP | 4.13% | $39.0M | 602,320 | $53.29 | $64.70 | -$6.2M |
Industry Allocation
Investment Team (9)
| Name | Role | Location | |
|---|---|---|---|
 | Co-Portfolio Manager | NY , United States | |
 | Co-Portfolio Manager | Arlington, VA , United States | |
J Jin Huang | Co-Portfolio Manager & Director of Research, Director of Research | Arlington, VA , United States | |
 | Co-Portfolio Manager | Falls Church, VA , United States | |
V Vaibhav Vish | Portfolio Manager | United States | |
 | Capital Markets Analyst | Washington, DC , United States | |
J Jessica Lee | Senior Economic and Regulatory Analyst | Ashburn, VA , United States | |
 | Executive Vice President of Finance | Washington, DC , United States | |
 | 2025 Summer Analyst | Atlanta, GA , United States |
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