M3F, Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), M3F, Inc. reported 37 stock positions worth $282.5 million. Its top holding was Willis Lease Finance (WLFC) at 11.1% of the portfolio, followed by Ponce Financial (PDLB, 6.8%) and Pioneer Bancorp (PBFS, 6.6%). Compared with Q4 2023, it opened 3 new positions, sold out of 3, added to 15 and reduced 17. The biggest buy was a new position in Columbia Banking System (COLB) and the biggest sale National Western Life Grou-A (NWLI, shares −48%).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001511291
- Portfolio Value
- $282.5M (Q1 2024)
- SEC Filing
- 0001511291-24-000002 ↗ filed May 14, 2024
Holdings Value
Holdings 37 stocks · $282.5M
| WLFC Willis Lease Finance Corp. | 11.12% | 632,827 | $31.4M | Add +1.0% |
| PDLB Ponce Financial Group Inc. | 6.81% | 2,163,165 | $19.3M | Add +2.5% |
| PBFS Pioneer Bancorp Inc. | 6.58% | 1,894,732 | $18.6M | Add +4.7% |
| NWLI National Western Life Grou-A | 5.54% | 31,821 | $15.7M | Reduce -47.6% |
| WFC Wells Fargo & Co. | 5.33% | 260,000 | $15.1M | Reduce -22.4% |
| SNFCA Security Natl Finl Corp. Class A | 5.19% | 1,853,804 | $14.7M | Add +3.0% |
| PVBC Provident Bancorp Inc. | 4.91% | 1,525,247 | $13.9M | Reduce -0.5% |
| EBC Eastern Bankshares Inc. | 4.79% | 981,575 | $13.5M | Add +5.8% |
| SWKH SWK Holdings Corp. filed as SWK HLDGS CORP | 4.40% | 713,319 | $12.4M | Reduce -7.5% |
| BFIN Bankfinancial Corp. | 4.30% | 1,156,552 | $12.1M | Add +0.1% |
| PKBK Parke Bancorp Inc. | 3.31% | 543,426 | $9.4M | Reduce -0.8% |
| RBKB Rhinebeck Bancorp Inc. | 3.20% | 1,071,095 | $9.1M | Add +1.7% |
| COLB Columbia Banking System Inc. | 3.12% | 455,000 | $8.8M | New |
| FBIZ First Business Financial Ser | 2.93% | 220,674 | $8.3M | Add +0.6% |
| PROV Provident Financial Hldgs | 2.90% | 611,838 | $8.2M | Reduce -5.1% |
| SPFI South Plains Financial Inc. | 2.78% | 293,513 | $7.9M | Reduce -0.6% |
| NODK Ni Holdings Inc. filed as NI HLDGS INC | 2.73% | 509,778 | $7.7M | Reduce -2.2% |
| HMNF HMN Financial Inc. | 2.47% | 331,009 | $7.0M | Reduce -0.0% |
| MGYR Magyar Bancorp Inc. | 2.25% | 571,292 | $6.4M | Add +0.1% |
| TSBK Timberland Bancorp Inc. | 2.08% | 218,268 | $5.9M | Reduce -0.1% |
| SHF HOLDINGS INC | 1.83% | 5,343,989 | $5.2M | Add +6.9% |
| NECB Northeast Community Bancorp | 1.80% | 323,822 | $5.1M | Reduce -23.3% |
| SFBC Sound Financial Bancorp Inc. | 1.40% | 97,307 | $4.0M | Reduce -0.5% |
| BSBK Bogota Financial Corp. | 1.25% | 497,390 | $3.5M | Reduce -0.8% |
| OVLY Oak Valley Bancorp filed as OAK VY BANCORP OAKDALE CALIF | 1.16% | 132,245 | $3.3M | No change |
| ISTR Investar Holding Corp. | 0.96% | 166,464 | $2.7M | Reduce -25.4% |
| EBTC Enterprise Bancorp Inc. | 0.90% | 97,429 | $2.5M | Add +11.1% |
| FSEA First Seacoast Bancorp Inc. | 0.75% | 253,098 | $2.1M | Reduce -38.5% |
| ICCH Icc Holdings Inc. filed as ICC HLDGS INC | 0.61% | 108,403 | $1.7M | Add +6.2% |
| LSBK Lake Shore Bancorp Inc. | 0.52% | 125,572 | $1.5M | Add +22.8% |
| CWBC Community West Bancshares | 0.45% | 82,250 | $1.3M | Reduce -63.6% |
| CPBI Central Plains Bancshares Inc. | 0.45% | 123,792 | $1.3M | Add +88.4% |
| PBHC Pathfinder Bancorp Inc. | 0.34% | 77,265 | $957K | No change |
| BCOW 1895 Bancorp of Wisconsin Inc. | 0.31% | 130,425 | $889K | Add +41.3% |
| SRBK Sr Bancorp Inc. | 0.26% | 77,115 | $728K | Reduce -49.6% |
| FINW Finwise Bancorp | 0.20% | 55,326 | $556K | New |
| BYFC Broadway Financial Corp. | 0.07% | 34,382 | $189K | New |
Portfolio Sells Q4 2023 → Q1 2024
| NWLI National Western Life Grou-A | Reduce -47.6% | 5.54% | −3.78 |
| CMA Comerica Inc. | Sold out | 0.00% | −1.77 |
| MTB M & T Bank Corp. | Sold out | 0.00% | −1.52 |
| CWBC Community West Bancshares | Reduce -63.6% | 0.45% | −0.80 |
| NECB Northeast Community Bancorp | Reduce -23.3% | 1.80% | −0.58 |
| FSEA First Seacoast Bancorp Inc. | Reduce -38.5% | 0.75% | −0.25 |
| PKBK Parke Bancorp Inc. | Reduce -0.8% | 3.31% | −0.21 |
| SRBK Sr Bancorp Inc. | Reduce -49.6% | 0.26% | −0.21 |
| TSBK Timberland Bancorp Inc. | Reduce -0.1% | 2.08% | −0.10 |
| ISTR Investar Holding Corp. | Reduce -25.4% | 0.96% | −0.09 |
| NSTS NSTS Bancorp Inc. | Sold out | 0.00% | −0.07 |
| BSBK Bogota Financial Corp. | Reduce -0.8% | 1.25% | −0.04 |
| PVBC Provident Bancorp Inc. | Reduce -0.5% | 4.91% | +0.01 |
| HMNF HMN Financial Inc. | Reduce -0.0% | 2.47% | +0.05 |
| SPFI South Plains Financial Inc. | Reduce -0.6% | 2.78% | +0.07 |
| WFC Wells Fargo & Co. | Reduce -22.4% | 5.33% | +0.10 |
| SWKH SWK Holdings Corp. | Reduce -7.5% | 4.40% | +0.11 |
| SFBC Sound Financial Bancorp Inc. | Reduce -0.5% | 1.40% | +0.19 |
| PROV Provident Financial Hldgs | Reduce -5.1% | 2.90% | +0.32 |
| NODK Ni Holdings Inc. | Reduce -2.2% | 2.73% | +0.58 |
Portfolio Buys Q4 2023 → Q1 2024
| COLB Columbia Banking System Inc. | New | 3.12% | +3.12 |
| WLFC Willis Lease Finance Corp. | Add +1.0% | 11.12% | +1.39 |
| PBFS Pioneer Bancorp Inc. | Add +4.7% | 6.58% | +0.83 |
| EBC Eastern Bankshares Inc. | Add +5.8% | 4.79% | +0.61 |
| BFIN Bankfinancial Corp. | Add +0.1% | 4.30% | +0.54 |
| RBKB Rhinebeck Bancorp Inc. | Add +1.7% | 3.20% | +0.51 |
| PDLB Ponce Financial Group Inc. | Add +2.5% | 6.81% | +0.27 |
| CPBI Central Plains Bancshares Inc. | Add +88.4% | 0.45% | +0.23 |
| MGYR Magyar Bancorp Inc. | Add +0.1% | 2.25% | +0.22 |
| FINW Finwise Bancorp | New | 0.20% | +0.20 |
| FBIZ First Business Financial Ser | Add +0.6% | 2.93% | +0.14 |
| LSBK Lake Shore Bancorp Inc. | Add +22.8% | 0.52% | +0.14 |
| ICCH Icc Holdings Inc. | Add +6.2% | 0.61% | +0.12 |
| BCOW 1895 Bancorp of Wisconsin Inc. | Add +41.3% | 0.31% | +0.11 |
| BYFC Broadway Financial Corp. | New | 0.07% | +0.07 |
| SNFCA Security Natl Finl Corp. Class A | Add +3.0% | 5.19% | +0.05 |
| EBTC Enterprise Bancorp Inc. | Add +11.1% | 0.90% | −0.00 |
| SHF HOLDINGS INC | Add +6.9% | 1.83% | −0.43 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 22 | $422.2M | WLFC, PDLB, PBFS, AER, ASLE |
| Q1 2026 | 28 | $403.5M | WLFC, PDLB, AER, PBFS, ASLE |
| Q4 2025 | 25 | $364.1M | WLFC, PDLB, AER, AL, PBFS |
| Q3 2025 | 28 | $352.9M | WLFC, PDLB, AL, AER, PBFS |
| Q2 2025 | 30 | $354.5M | WLFC, PDLB, AL, PBFS, SNFCA |
| Q1 2025 | 31 | $363.8M | WLFC, PDLB, PBFS, SNFCA, ASLE |
| Q4 2024 | 29 | $345.9M | WLFC, PDLB, PBFS, SNFCA, NODK |
| Q3 2024 | 29 | $324.6M | WLFC, PDLB, PBFS, SNFCA, NODK |
| Q2 2024 | 34 | $270.2M | WLFC, PBFS, PDLB, SNFCA, SWKH |
| Q1 2024 | 37 | $282.5M | WLFC, PDLB, PBFS, NWLI, WFC |