Jacobs Asset Management, LLC In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Jacobs Asset Management, LLC reported 31 stock positions worth $182.7 million . Its top holding was Sprott (SII) at 9.1% of the portfolio, followed by Popular (BPOP, 6.6% ) and Allstate (ALL, 5.7% ). Compared with Q2 2025, it opened 9 new positions, sold out of 7, added to 4 and reduced 16. The biggest buy was a new position in Simmons First Natl Class A (SFNC) and the biggest sale First Citizens Bcshs Class A (FCNCA, shares −50% ).
Location NEW YORK, NY
CIK 0001351063
Portfolio Value $182.7M (Q3 2025) Holdings 31 stocks · $182.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 SII Sprott Inc. 200,000 $16.6M Reduce -11.1% BPOP Popular Inc. 95,153 $12.1M Reduce -30.9% ALL Allstate Corp. 48,500 $10.4M No change QNST Quinstreet Inc. 648,700 $10.0M Reduce -8.9% QCRH QCR Holdings Inc. 125,000 $9.5M Reduce -8.7% MAX Mediaalpha Inc. Class A 819,026 $9.3M Add +2.5% OSBC Old Second Bancorp Inc. 478,217 $8.3M Add +3.4% GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC 317,500 $8.2M Reduce -11.8% CCB Coastal Financial Corp. 75,000 $8.1M Reduce -25.0% NPB Northpointe Bancshares Inc. 462,500 $7.9M Reduce -25.9% MYFW First Western Financial Inc. 314,959 $7.3M Reduce -7.4% SFNC Simmons First Natl Corp. Class A 350,000 $6.7M New NBHC National Bank Hold Class A 170,000 $6.6M New FCNCA First Citizens Bcshs Class A 3,500 $6.3M Reduce -50.0% FBK FB Financial Corp. filed as FB FINL CORP 100,000 $5.6M Reduce -20.0% EVER Everquote Inc. Class A 195,516 $4.5M Reduce -6.6% MOFG Midwestone Financial Group I 156,787 $4.4M Add +4.5% HBNC Horizon Bancorp Inc. 275,000 $4.4M New COFS Choiceone Financial SVCS Inc. 149,870 $4.3M Reduce -6.5% CIVB Civista Bancshares Inc. 200,000 $4.1M New CNCK Coincheck Group NV 855,334 $4.0M New BBT Beacon Financial Corp. 162,931 $3.9M Add +18.1% AVBH Avidbank Holdings Inc. 146,123 $3.7M New OFG Ofg Bancorp 83,895 $3.6M Reduce -18.1% PBBK PB Bankshares Inc. 160,593 $3.1M New TCBK Trico Bancshares 55,000 $2.4M New AOMR Angel Oak Mortgage REIT Inc. 200,000 $1.9M Reduce -25.9% PGR Progressive Corp. 7,500 $1.9M Reduce -40.0% BRBS Blue Ridge Bankshares Inc. 407,484 $1.7M Reduce -30.9% PB Prosperity Bancshares Inc. 16,864 $1.1M New SBCF Seacoast Banking Corp. 28,000 $852K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $40K (not counted above) Security Class Shares / Principal Value Change CNCKW Coincheck Group NV *W EXP 12/11/202 55,111 $40K New
Total filed on the 13F, all lines: $182.7M.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ FCNCA First Citizens Bcshs Class A Reduce -50.0% 3.43% −4.38 TREE Lendingtree Inc. Sold out 0.00% −2.27 BPOP Popular Inc. Reduce -30.9% 6.62% −2.03 SFBS Servisfirst Bancshares Inc. Sold out 0.00% −1.62 CCB Coastal Financial Corp. Reduce -25.0% 4.44% −1.08 QNST Quinstreet Inc. Reduce -8.9% 5.49% −1.04 TRMK Trustmark Corp. Sold out 0.00% −0.99 FSUN Firstsun Capital Bancorp Sold out 0.00% −0.99 PGR Progressive Corp. Reduce -40.0% 1.01% −0.89 NWFL Norwood Financial Corp. Sold out 0.00% −0.75 FISI Financial Institutions Inc. Sold out 0.00% −0.63 NPB Northpointe Bancshares Inc. Reduce -25.9% 4.32% −0.55 OFG Ofg Bancorp Reduce -18.1% 2.00% −0.50 EVER Everquote Inc. Class A Reduce -6.6% 2.45% −0.44 AOMR Angel Oak Mortgage REIT Inc. Reduce -25.9% 1.03% −0.42 MYFW First Western Financial Inc. Reduce -7.4% 3.97% −0.40 AGNC AGNC Investment Corp. Sold out 0.00% −0.39 BRBS Blue Ridge Bankshares Inc. Reduce -30.9% 0.94% −0.26 COFS Choiceone Financial SVCS Inc. Reduce -6.5% 2.38% −0.25 FBK FB Financial Corp. Reduce -20.0% 3.05% −0.18 QCRH QCR Holdings Inc. Reduce -8.7% 5.18% −0.12 GOLD Gold.com Inc. Reduce -11.8% 4.50% −0.05 SII Sprott Inc. Reduce -11.1% 9.11% +0.25
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ SFNC Simmons First Natl Corp. Class A New 3.67% +3.67 NBHC National Bank Hold Class A New 3.60% +3.60 HBNC Horizon Bancorp Inc. New 2.41% +2.41 CIVB Civista Bancshares Inc. New 2.22% +2.22 CNCK Coincheck Group NV New 2.17% +2.17 AVBH Avidbank Holdings Inc. New 2.04% +2.04 PBBK PB Bankshares Inc. New 1.69% +1.69 TCBK Trico Bancshares New 1.34% +1.34 PB Prosperity Bancshares Inc. New 0.61% +0.61 BBT Beacon Financial Corp. Add +18.1% 2.12% +0.15 MAX Mediaalpha Inc. Class A Add +2.5% 5.10% +0.12 MOFG Midwestone Financial Group I Add +4.5% 2.43% −0.03 OSBC Old Second Bancorp Inc. Add +3.4% 4.53% −0.15
Notes & Other Activity Q2 2025 → Q3 2025 Security Class Change vs Q2 2025 Shares / Principal Value ▼ CNCKW Coincheck Group NV *W EXP 12/11/202 New 55,111 $40K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 21 $132.8M SII, QNST, MAX, GOLD, SFBS Q1 2026 28 $167.1M SII, QNST, SFBS, GOLD, MAX Q4 2025 32 $179.5M SII, QNST, GOLD, CCB, ALL Q3 2025 31 $182.7M SII, BPOP, ALL, QNST, QCRH Q2 2025 29 $175.5M SII, BPOP, FCNCA, QNST, ALL Q1 2025 30 $158.0M FCNCA, SII, BPOP, ALL, NPB Q4 2024 29 $156.5M BPOP, FCNCA, SII, ALL, CCB Q3 2024 30 $151.1M SII, GOLD, FCNCA, ALL, CCB Q2 2024 35 $157.3M SII, GOLD, ALL, BPOP, FCNCA Q1 2024 27 $130.6M SII, GOLD, ALL, BPOP, QCRH