California Bancorp received a substantial shareholder disclosure showing that FJ Capital Management LLC, Financial Opportunity Fund LLC, and Martin Friedman together report beneficial ownership of 2,054,534 shares of common stock, or 6.34% of the company as of 01/29/2026.
All three reporting persons indicate shared power to vote and dispose of these shares, with no sole voting or dispositive power. The shares are held by Financial Opportunity Fund LLC, with FJ Capital Management LLC as its managing member. FJ Capital and Mr. Friedman state that they may be deemed beneficial owners but disclaim beneficial ownership and certify the holdings are not for the purpose of changing or influencing control of California Bancorp.
Positive
None.
Negative
None.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake in California Bancorp (BCAL) is reported in this Schedule 13G?
The Schedule 13G reports beneficial ownership of 2,054,534 California Bancorp common shares, representing 6.34% of the outstanding class as of 01/29/2026. This makes the reporting group a significant, but minority, shareholder in the bank.
Who are the reporting persons in the California Bancorp (BCAL) Schedule 13G?
The reporting persons are FJ Capital Management LLC, Financial Opportunity Fund LLC, and Martin Friedman. Financial Opportunity Fund LLC directly holds the shares, while FJ Capital is its managing member and Martin Friedman is the managing member of FJ Capital.
How much voting power do the reporting persons have in California Bancorp (BCAL)?
Each reporting person reports 0 shares with sole voting power and 2,054,534 shares with shared voting power. They similarly report shared dispositive power over the same number of shares, indicating coordinated control over how this stake is voted and disposed.
Do FJ Capital and Martin Friedman claim full beneficial ownership of BCAL shares?
The filing states the shares are held by Financial Opportunity Fund LLC. FJ Capital Management LLC and Martin Friedman may be deemed beneficial owners due to control relationships, but each disclaims beneficial ownership of the reported California Bancorp shares.
Is the 6.34% California Bancorp (BCAL) stake held to influence control of the company?
The certification explicitly states the securities were not acquired and are not held for the purpose of changing or influencing control of California Bancorp, and are not held in connection with any transaction having that control-related purpose or effect.
What type of securities are covered in this California Bancorp (BCAL) ownership report?
The report covers common stock of California Bancorp, identified by CUSIP 84252A106. All 2,054,534 reported shares are common shares held through Financial Opportunity Fund LLC, with shared voting and dispositive power disclosed.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
California Bancorp
(Name of Issuer)
Common Stock
(Title of Class of Securities)
84252A106
(CUSIP Number)
01/29/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
84252A106
1
Names of Reporting Persons
FJ Capital Management LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,054,534.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,054,534.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,054,534.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.34 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 2,054,534 shares of common stock of the Issuer held by Financial Opportunity Fund LLC of which FJ Capital Management LLC is the managing member; as such, the Reporting Person may be deemed to be a beneficial owner of reported shares but as to which the Reporting Person disclaims beneficial ownership.
SCHEDULE 13G
CUSIP No.
84252A106
1
Names of Reporting Persons
Financial Opportunity Fund LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,054,534.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,054,534.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,054,534.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.34 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 2,054,534 shares of common stock of the Issuer held by Financial Opportunity Fund LLC.
SCHEDULE 13G
CUSIP No.
84252A106
1
Names of Reporting Persons
Martin Friedman
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,054,534.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,054,534.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,054,534.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
6.34 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Relating to items 6, 8, and 9 of this page: Consists of 2,054,534 shares of common stock of the Issuer held by Financial Opportunity Fund of which FJ Capital Management LLC is the managing member. Martin Friedman is the Managing Member of FJ Capital Management LLC; as such, Mr. Friedman may be deemed to be a beneficial owner of reported shares but as to which Mr. Friedman disclaims beneficial ownership.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
California Bancorp
(b)
Address of issuer's principal executive offices:
12265 El Camino Real, Suite 210, San Diego, CA 92130
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed on behalf of the following Reporting Persons:
FJ Capital Management LLC
Financial Opportunity Fund LLC
Martin Friedman
(b)
Address or principal business office or, if none, residence:
FJ Capital Management, LLC
7901 Jones Branch Drive, Suite 210
McLean, VA 22102
Financial Opportunity Fund LLC
7901 Jones Branch Drive, Suite 210
McLean, VA 22102
Martin Friedman
7901 Jones Branch Drive, Suite 210
McLean, VA 22102
(c)
Citizenship:
Financial Opportunity Fund LLC and FJ Capital Management LLC - Delaware limited liability companies
Martin Friedman - United States citizen
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
84252A106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
FJ Capital Management LLC - 2,054,534 shares
Financial Opportunity Fund LLC - 2,054,534 shares
Martin Friedman - 2,054,534 shares
(b)
Percent of class:
FJ Capital Management LLC - 6.34%
Financial Opportunity Fund LLC - 6.34%
Martin Friedman - 6.34%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
FJ Capital Management LLC - 2,054,534 shares
Financial Opportunity Fund LLC - 2,054,534 shares
Martin Friedman - 2,054,534 shares
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
FJ Capital Management LLC - 2,054,534 shares
Financial Opportunity Fund LLC - 2,054,534 shares
Martin Friedman - 2,054,534 shares
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
