UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
09-30-2025
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
EJF Capital LLC
Address:
2107 Wilson Boulevard
Suite 410
Arlington, VA 22201
Form 13F File Number:
028-11792

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Thomas Davison
Title:
General Counsel
Phone:
571-982-7314


Signature, Place, and Date of Signing:

/s/ Thomas Davison
                         [Signature]
Arlington, VIRGINIA
                 [City, State]
11-12-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
0
Form 13F Information table Entry Total:
73
Form 13F Information table Value Total:
172166683
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

  
NONE


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ACADIAN ASSET MANAGEMENT INCCOM10948W1035,588,631116,043SHSOLE116,043 0 0
ALGOMA STL GROUP INCCOM01565810739,10511,000SHSOLE11,000 0 0
AMERANT BANCORP INCCL A023576101501,61726,031SHSOLE14,69911,332 0
AMERIS BANCORPCOM03076K108421,8265,754SHSOLE3,2452,509 0
AVIDBANK HLDGS INCCOM05368J1032,826,803110,855SHSOLE110,855 0 0
AXOS FINANCIAL INCCOM05465C100609,0577,195SHSOLE4,0433,152 0
BANC OF CALIFORNIA INCCOM05990K1063,304,423199,663SHSOLE171,81227,851 0
BANKUNITED INCCOM06652K1032,381,71862,414SHSOLE62,414 0 0
BARCLAYS PLCADR06738E2041,947,11494,200SHSOLE94,200 0 0
BEACON FINANCIAL CORP.COM0846801073,109,187131,134SHSOLE116,55514,579 0
BLUE RIDGE BANKSHARES INC VACOM0958251051,488,245351,831SHSOLE351,831 0 0
BRIDGEWATER BANCSHARES INCCOM1086211033,443,299195,642SHSOLE175,01220,630 0
BURKE HERBERT FINL SVCS CORPCOM12135Y1083,075,24749,850SHSOLE44,5215,329 0
CADENCE BANKCOM12740C1031,450,47138,638SHSOLE38,638 0 0
CALIFORNIA BANCORPCOM84252A1061,590,58895,359SHSOLE77,75217,607 0
CANNAE HLDGS INCCOM13765N1073,021,150165,000SHSOLE165,000 0 0
CAPITAL ONE FINL CORPCOM14040H1054,217,16219,838SHSOLE17,2352,603 0
CARTER BANKSHARES INCCOM NEW1461031063,115,402160,505SHSOLE142,20118,304 0
CHAIN BRIDGE BANCORP INCCL A15746L1002,042,12362,393SHSOLE62,393 0 0
CITIGROUP INCCOM NEW1729674241,759,50317,335SHSOLE17,335 0 0
CIVISTA BANCSHARES INCCOM NO PAR1788671071,762,64486,787SHSOLE86,787 0 0
COASTAL FINL CORP WACOM NEW19046P2091,513,94713,996SHSOLE7,8256,171 0
COASTALSOUTH BANCSHARES INCCOM NEW19058X20720,287,030930,171SHSOLE930,171 0 0
COCA COLA CONS INCCOM1910981021,435,21012,250SHSOLE12,250 0 0
COMERICA INCCOM200340107653,5449,538SHSOLE5,3134,225 0
CONNECTONE BANCORP INCCOM20786W107749,60930,214SHSOLE17,12813,086 0
COREBRIDGE FINL INCCOM21871X1092,185,39368,187SHSOLE68,187 0 0
CUSTOMERS BANCORP INCCOM23204G1001,711,25626,178SHSOLE26,178 0 0
DESIGNER BRANDS INCCL A250565108343,38097,000SHSOLE97,000 0 0
EAGLE FINL SVCS INCCOM26951R1044,451,305117,666SHSOLE103,38514,281 0
ENCORE CAP GROUP INCCOM2925541021,887,48345,220SHSOLE45,220 0 0
EQUITABLE HLDGS INCCOM29452E1011,899,17237,400SHSOLE37,400 0 0
FIRST BUSEY CORPCOM NEW3193832042,567,914110,925SHSOLE96,54414,381 0
FIRST CTZNS BANCSHARES INC DCL A31946M1034,066,7612,273SHSOLE1,995278 0
FIRST FINL BANCORP OHCOM3202091091,314,28852,051SHSOLE52,051 0 0
FIRST FNDTN INCCOM32026V1043,683,486661,308SHSOLE578,58682,722 0
FIRST HORIZON CORPORATIONCOM3205171054,200,961185,801SHSOLE157,92427,877 0
FIRST MERCHANTS CORPCOM3208171091,119,57729,697SHSOLE24,3205,377 0
FIVE STAR BANCORPCOM33830T1032,065,88864,158SHSOLE58,0836,075 0
GENWORTH FINL INCCOM SHS37247D1064,467,800502,000SHSOLE502,000 0 0
HERITAGE COMM CORPCOM4269271092,031,072204,539SHSOLE174,56329,976 0
HILLTOP HOLDINGS INCCOM432748101848,86825,400SHSOLE25,400 0 0
HOMETRUST BANCSHARES INCCOM4378721042,673,58765,305SHSOLE55,7079,598 0
HORIZON BANCORP INCCOM4404071042,135,542133,388SHSOLE125,8837,505 0
JEFFERSON CAPITAL INCCOM47248R1032,337,004135,400SHSOLE119,51315,887 0
LINKBANCORP INCCOM53578P105663,58993,070SHSOLE93,070 0 0
MERCHANTS BANCORP INDCOM58844R1081,154,24536,297SHSOLE36,297 0 0
NB BANCORP INCCOM63945M1073,049,973172,803SHSOLE151,88920,914 0
NORTHPOINTE BANCSHARES INC.COM SHS66661N8863,591,053210,249SHSOLE210,249 0 0
OLD NATL BANCORP INDCOM6800331073,341,756152,244SHSOLE140,82911,415 0
OLD SECOND BANCORP INC ILLCOM6802771003,004,721173,834SHSOLE149,67624,158 0
ONESPAN INCCOM68287N1002,065,716130,001SHSOLE130,001 0 0
OPPENHEIMER HLDGS INCCL A NON VTG6837971041,478,20020,000SHSOLE20,000 0 0
ORANGE CNTY BANCORP INCCOM68417L1072,945,133116,824SHSOLE110,5046,320 0
PAMT CORPCOM693149106285,00025,000SHSOLE25,000 0 0
PINNACLE FINL PARTNERS INCCOM72346Q104498,3065,313SHSOLE2,9672,346 0
POPULAR INCCOM NEW7331747001,024,8448,069SHSOLE4,5353,534 0
PROVIDENT FINL SVCS INCCOM74386T1053,437,528178,295SHSOLE161,36116,934 0
REDROCK RESORTS INCCL A75700L108791,03212,955SHSOLE12,955 0 0
RENASANT CORPCOM75970E1072,485,24267,369SHSOLE61,7095,660 0
SIMMONS 1ST NATL CORPCL A $1 PAR8287302004,328,682225,805SHSOLE206,30919,496 0
STELLAR BANCORP INCCOM858927106532,89217,564SHSOLE9,9127,652 0
SYNOVUS FINL CORPCOM NEW87161C501405,4018,260SHSOLE4,6383,622 0
THIRD COAST BANCSHARES INCCOM88422P109525,42913,838SHSOLE7,1176,721 0
TOWNEBANK PORTSMOUTH VACOM89214P1091,860,59253,821SHSOLE53,821 0 0
TRUIST FINL CORPCOM89832Q1092,134,48446,686SHSOLE40,6975,989 0
VALLEY NATL BANCORPCOM9197941074,503,463424,855SHSOLE381,65743,198 0
WEBSTER FINL CORPCOM9478901091,913,55232,193SHSOLE27,2494,944 0
WESBANCO INCCOM9508101014,525,950141,746SHSOLE128,70013,046 0
WEST FRASER TIMBER CO LTDCOM952845105679,80010,000SHSOLE10,000 0 0
WESTERN ALLIANCE BANCORPCOM957638109558,9976,446SHSOLE3,6172,829 0
WEX INCCOM96208T1041,465,0299,300SHSOLE9,300 0 0
WINTRUST FINL CORPCOM97650W108590,6824,460SHSOLE2,5081,952 0