EJF Capital LLC's Recent 13F Filing: Analysis of Holdings Changes in Q4 2021 and Q4 2022

EJF Capital LLC is a financial services company that has been in operation since 2005. The company is focused on making investments in banks and other financial institutions. EJF Capital LLC recently filed a 13F form with the SEC, which disclosed the company's holdings as of Q4 2021 and Q4 2022. The following is an analysis of the changes in the company's holdings over the period.

The first thing to note is that there were a lot of significant changes in the company's holdings. For example, the company sold all of its shares in Jackson Financial Inc. during the period. This is a notable move since the company held 1,290,796 shares of the stock at the end of Q4 2021. The company also sold all of its shares of PAGAYA TECHNOLOGIES LTD in Q4 2022. These moves indicate that the company was not interested in holding onto these stocks any longer.

On the other hand, the company increased its holdings in LINKBANCORP INC significantly. At the end of Q4 2021, the company held no shares of the stock. However, in Q4 2022, the company purchased 445,500 shares of the stock valued at $4,165,000. This indicates that the company has confidence in the future prospects of LINKBANCORP INC.

There were also several other noteworthy changes in the company's holdings. For example, the company sold its entire holdings in Coastal Financial Corporation and Old Second Bancorp Inc. This could be because the company did not see much potential for growth in these companies in the future.

The company also added several new stocks to its portfolio. Notably, the company purchased 516,6667 call options for shares of PAGAYA TECHNOLOGIES LTD. The options were valued at $6,406,000. The company also purchased 20,000 shares of APA Corporation and 10,000 shares of Bill.com Holdings Inc.

In terms of the overall value of the company's holdings, there was a slight decrease from $155,123,000 at the end of Q4 2021 to $149,823,000 at the end of Q4 2022. This can be attributed to the company's decision to sell off some of its holdings and the decrease in the value of some of its other holdings.

It is important to note that 13F filings only show the long positions held by investment firms. They do not show short positions, options, or other investment vehicles. Therefore, the picture provided in the filing is incomplete. It is also possible that EJF Capital LLC made changes to its holdings outside of what is required to be disclosed in the 13F filing.

In conclusion, the changes in EJF Capital LLC's holdings over the period highlight the company's strategy of making investments in banks and financial institutions. The significant changes in the company's holdings, including the sales of Jackson Financial Inc. and Coastal Financial Corporation, indicate that the company is not afraid to make bold moves and take risks. The increase in the company's holdings in LINKBANCORP INC shows that the company has confidence in the future prospects of the bank. However, it is important to note that 13F filings only provide a limited view of an investment firm's holdings, and other factors may have influenced the firm's decisions.