M3F, Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), M3F, Inc. reported 29 stock positions worth $345.9 million. Its top holding was Willis Lease Finance (WLFC) at 30.3% of the portfolio, followed by Ponce Financial (PDLB, 8.5%) and Pioneer Bancorp (PBFS, 7.7%). Compared with Q3 2024, it opened 6 new positions, sold out of 6, added to 7 and reduced 13. The biggest buy was a new position in Aersale (ASLE) and the biggest sale an exit from Wells Fargo (WFC).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001511291
- Portfolio Value
- $345.9M (Q4 2024)
- SEC Filing
- 0001511291-25-000001 ↗ filed Feb 13, 2025
Holdings Value
Holdings 29 stocks · $345.9M
| WLFC Willis Lease Finance Corp. | 30.25% | 504,229 | $104.7M | Reduce -11.4% |
| PDLB Ponce Financial Group Inc. | 8.51% | 2,265,395 | $29.4M | Add +0.1% |
| PBFS Pioneer Bancorp Inc. | 7.72% | 2,319,023 | $26.7M | Add +0.1% |
| SNFCA Security Natl Finl Corp. Class A | 7.00% | 2,013,862 | $24.2M | Reduce -1.8% |
| NODK Ni Holdings Inc. filed as NI HLDGS INC | 6.07% | 1,336,330 | $21.0M | Add +21.8% |
| BFIN Bankfinancial Corp. | 4.18% | 1,137,983 | $14.4M | Reduce -6.2% |
| PVBC Provident Bancorp Inc. | 3.95% | 1,198,910 | $13.7M | Reduce -3.6% |
| SWKH SWK Holdings Corp. filed as SWK HLDGS CORP | 3.67% | 800,151 | $12.7M | Add +2.5% |
| EBC Eastern Bankshares Inc. | 3.14% | 628,767 | $10.8M | Reduce -7.2% |
| RBKB Rhinebeck Bancorp Inc. | 3.01% | 1,075,698 | $10.4M | No change |
| ASLE Aersale Corp. | 2.87% | 1,577,974 | $9.9M | New |
| PKBK Parke Bancorp Inc. | 2.60% | 437,909 | $9.0M | Reduce -11.8% |
| PROV Provident Financial Hldgs | 2.01% | 436,000 | $6.9M | Reduce -12.8% |
| MGYR Magyar Bancorp Inc. | 1.83% | 433,289 | $6.3M | Reduce -6.4% |
| TSBK Timberland Bancorp Inc. | 1.65% | 186,589 | $5.7M | Reduce -12.4% |
| BROOKLINE BANCORP INC | 1.63% | 477,183 | $5.6M | Reduce -39.9% |
| BMTX BM Technologies Inc. | 1.60% | 1,130,898 | $5.5M | New |
| FBIZ First Business Financial Ser | 1.30% | 97,152 | $4.5M | Reduce -37.0% |
| BSBK Bogota Financial Corp. | 1.08% | 496,605 | $3.7M | Add +0.3% |
| OVLY Oak Valley Bancorp filed as OAK VY BANCORP OAKDALE CALIF | 1.03% | 121,436 | $3.6M | Reduce -9.4% |
| ALRS Alerus Financial Corp. | 1.00% | 179,563 | $3.5M | New |
| CPBI Central Plains Bancshares Inc. | 0.78% | 179,269 | $2.7M | No change |
| SHF HOLDINGS INC | 0.72% | 5,549,701 | $2.5M | Add +0.3% |
| SSBI Summit State Bank | 0.66% | 300,000 | $2.3M | New |
| BYFC Broadway Financial Corp. | 0.49% | 249,450 | $1.7M | Add +56.7% |
| LSBK Lake Shore Bancorp Inc. | 0.44% | 109,985 | $1.5M | Reduce -0.1% |
| BCOW 1895 Bancorp of Wisconsin Inc. | 0.43% | 148,249 | $1.5M | No change |
| CBFV CB Financial Services Inc. filed as CB FINL SVCS INC | 0.26% | 32,055 | $916K | New |
| NSTS NSTS Bancorp Inc. | 0.14% | 39,769 | $469K | New |
Portfolio Sells Q3 2024 → Q4 2024
| WFC Wells Fargo & Co. | Sold out | 0.00% | −3.48 |
| HMNF HMN Financial Inc. | Sold out | 0.00% | −2.82 |
| FINW Finwise Bancorp | Sold out | 0.00% | −1.29 |
| FBIZ First Business Financial Ser | Reduce -37.0% | 1.30% | −0.87 |
| BROOKLINE BANCORP INC | Reduce -39.9% | 1.63% | −0.84 |
| PKBK Parke Bancorp Inc. | Reduce -11.8% | 2.60% | −0.60 |
| SPFI South Plains Financial Inc. | Sold out | 0.00% | −0.41 |
| BFIN Bankfinancial Corp. | Reduce -6.2% | 4.18% | −0.38 |
| TSBK Timberland Bancorp Inc. | Reduce -12.4% | 1.65% | −0.34 |
| EBC Eastern Bankshares Inc. | Reduce -7.2% | 3.14% | −0.29 |
| CLST Catalyst Bancorp Inc. | Sold out | 0.00% | −0.24 |
| SRBK Sr Bancorp Inc. | Sold out | 0.00% | −0.22 |
| PROV Provident Financial Hldgs | Reduce -12.8% | 2.01% | −0.21 |
| PVBC Provident Bancorp Inc. | Reduce -3.6% | 3.95% | −0.18 |
| OVLY Oak Valley Bancorp | Reduce -9.4% | 1.03% | −0.07 |
| LSBK Lake Shore Bancorp Inc. | Reduce -0.1% | 0.44% | −0.02 |
| MGYR Magyar Bancorp Inc. | Reduce -6.4% | 1.83% | +0.07 |
| SNFCA Security Natl Finl Corp. Class A | Reduce -1.8% | 7.00% | +1.19 |
| WLFC Willis Lease Finance Corp. | Reduce -11.4% | 30.25% | +4.16 |
Portfolio Buys Q3 2024 → Q4 2024
| ASLE Aersale Corp. | New | 2.87% | +2.87 |
| BMTX BM Technologies Inc. | New | 1.60% | +1.60 |
| ALRS Alerus Financial Corp. | New | 1.00% | +1.00 |
| NODK Ni Holdings Inc. | Add +21.8% | 6.07% | +0.77 |
| SSBI Summit State Bank | New | 0.66% | +0.66 |
| PDLB Ponce Financial Group Inc. | Add +0.1% | 8.51% | +0.36 |
| CBFV CB Financial Services Inc. | New | 0.26% | +0.26 |
| BYFC Broadway Financial Corp. | Add +56.7% | 0.49% | +0.18 |
| NSTS NSTS Bancorp Inc. | New | 0.14% | +0.14 |
| PBFS Pioneer Bancorp Inc. | Add +0.1% | 7.72% | −0.11 |
| BSBK Bogota Financial Corp. | Add +0.3% | 1.08% | −0.19 |
| SHF HOLDINGS INC | Add +0.3% | 0.72% | −0.22 |
| SWKH SWK Holdings Corp. | Add +2.5% | 3.67% | −0.49 |
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 |