M3F, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), M3F, Inc. reported 31 stock positions worth $363.8 million. Its top holding was Willis Lease Finance (WLFC) at 23.2% of the portfolio, followed by Ponce Financial (PDLB, 7.9%) and Pioneer Bancorp (PBFS, 7.5%). Compared with Q4 2024, it opened 4 new positions, sold out of 2, added to 15 and reduced 11. The biggest buy was a new position in Sumisho Air Lease (AL) and the biggest sale an exit from BM Technologies (BMTX).
- Most Recent 13F
- Q2 2026
- Location
- SALT LAKE CITY, UT
- CIK
- 0001511291
- Portfolio Value
- $363.8M (Q1 2025)
- SEC Filing
- 0001511291-25-000002 ↗ filed May 14, 2025
Holdings Value
Holdings 31 stocks · $363.8M
| WLFC Willis Lease Finance Corp. | 23.20% | 534,261 | $84.4M | Add +6.0% |
| PDLB Ponce Financial Group Inc. | 7.89% | 2,266,821 | $28.7M | Add +0.1% |
| PBFS Pioneer Bancorp Inc. | 7.47% | 2,320,442 | $27.2M | Add +0.1% |
| SNFCA Security Natl Finl Corp. Class A | 6.71% | 2,016,765 | $24.4M | Add +0.1% |
| ASLE Aersale Corp. | 6.42% | 3,119,698 | $23.4M | Add +97.7% |
| NODK Ni Holdings Inc. filed as NI HLDGS INC | 5.53% | 1,409,844 | $20.1M | Add +5.5% |
| AL Sumisho Air Lease Corp. filed as AIR LEASE CORP | 5.44% | 409,350 | $19.8M | New |
| AER Aercap Holdings NV | 4.84% | 172,500 | $17.6M | New |
| SWKH SWK Holdings Corp. filed as SWK HLDGS CORP | 3.78% | 791,733 | $13.8M | Reduce -1.1% |
| BFIN Bankfinancial Corp. | 3.63% | 1,043,888 | $13.2M | Reduce -8.3% |
| PVBC Provident Bancorp Inc. | 3.59% | 1,138,538 | $13.1M | Reduce -5.0% |
| RBKB Rhinebeck Bancorp Inc. | 2.79% | 1,030,104 | $10.1M | Reduce -4.2% |
| EBC Eastern Bankshares Inc. | 2.28% | 505,971 | $8.3M | Reduce -19.5% |
| PKBK Parke Bancorp Inc. | 2.27% | 437,909 | $8.3M | No change |
| PROV Provident Financial Hldgs | 1.76% | 438,215 | $6.4M | Add +0.5% |
| MGYR Magyar Bancorp Inc. | 1.65% | 433,189 | $6.0M | Reduce -0.0% |
| BROOKLINE BANCORP INC | 1.44% | 481,183 | $5.2M | Add +0.8% |
| TSBK Timberland Bancorp Inc. | 1.41% | 170,473 | $5.1M | Reduce -8.6% |
| FBIZ First Business Financial Ser | 1.21% | 93,618 | $4.4M | Reduce -3.6% |
| BSBK Bogota Financial Corp. | 1.04% | 494,605 | $3.8M | Reduce -0.4% |
| ALRS Alerus Financial Corp. | 0.95% | 187,447 | $3.5M | Add +4.4% |
| OVLY Oak Valley Bancorp filed as OAK VY BANCORP OAKDALE CALIF | 0.84% | 122,436 | $3.1M | Add +0.8% |
| SSBI Summit State Bank | 0.76% | 301,433 | $2.8M | Add +0.5% |
| CBFV CB Financial Services Inc. filed as CB FINL SVCS INC | 0.76% | 97,549 | $2.8M | Add +204.3% |
| LSBK Lake Shore Bancorp Inc. | 0.56% | 129,125 | $2.0M | Add +17.4% |
| AIR Aar Corp. | 0.53% | 34,462 | $1.9M | New |
| BYFC Broadway Financial Corp. | 0.53% | 267,207 | $1.9M | Add +7.1% |
| SHF HOLDINGS INC | 0.33% | 278,342 | $1.2M | Reduce -95.0% |
| CPBI Central Plains Bancshares Inc. | 0.23% | 55,477 | $828K | Reduce -69.0% |
| NSTS NSTS Bancorp Inc. | 0.12% | 40,115 | $453K | Add +0.9% |
| FBLA FB Bancorp Inc. | 0.04% | 11,573 | $130K | New |
Portfolio Sells Q4 2024 → Q1 2025
| BMTX BM Technologies Inc. | Sold out | 0.00% | −1.60 |
| EBC Eastern Bankshares Inc. | Reduce -19.5% | 2.28% | −0.85 |
| BFIN Bankfinancial Corp. | Reduce -8.3% | 3.63% | −0.55 |
| CPBI Central Plains Bancshares Inc. | Reduce -69.0% | 0.23% | −0.55 |
| BCOW 1895 Bancorp of Wisconsin Inc. | Sold out | 0.00% | −0.43 |
| SHF HOLDINGS INC | Reduce -95.0% | 0.33% | −0.39 |
| PVBC Provident Bancorp Inc. | Reduce -5.0% | 3.59% | −0.36 |
| TSBK Timberland Bancorp Inc. | Reduce -8.6% | 1.41% | −0.23 |
| RBKB Rhinebeck Bancorp Inc. | Reduce -4.2% | 2.79% | −0.22 |
| MGYR Magyar Bancorp Inc. | Reduce -0.0% | 1.65% | −0.17 |
| FBIZ First Business Financial Ser | Reduce -3.6% | 1.21% | −0.09 |
| BSBK Bogota Financial Corp. | Reduce -0.4% | 1.04% | −0.04 |
| SWKH SWK Holdings Corp. | Reduce -1.1% | 3.78% | +0.12 |
Portfolio Buys Q4 2024 → Q1 2025
| AL Sumisho Air Lease Corp. | New | 5.44% | +5.44 |
| AER Aercap Holdings NV | New | 4.84% | +4.84 |
| ASLE Aersale Corp. | Add +97.7% | 6.42% | +3.55 |
| AIR Aar Corp. | New | 0.53% | +0.53 |
| CBFV CB Financial Services Inc. | Add +204.3% | 0.76% | +0.50 |
| LSBK Lake Shore Bancorp Inc. | Add +17.4% | 0.56% | +0.12 |
| SSBI Summit State Bank | Add +0.5% | 0.76% | +0.10 |
| FBLA FB Bancorp Inc. | New | 0.04% | +0.04 |
| BYFC Broadway Financial Corp. | Add +7.1% | 0.53% | +0.03 |
| NSTS NSTS Bancorp Inc. | Add +0.9% | 0.12% | −0.01 |
| ALRS Alerus Financial Corp. | Add +4.4% | 0.95% | −0.05 |
| BROOKLINE BANCORP INC | Add +0.8% | 1.44% | −0.19 |
| OVLY Oak Valley Bancorp | Add +0.8% | 0.84% | −0.19 |
| PROV Provident Financial Hldgs | Add +0.5% | 1.76% | −0.25 |
| PBFS Pioneer Bancorp Inc. | Add +0.1% | 7.47% | −0.26 |
| SNFCA Security Natl Finl Corp. Class A | Add +0.1% | 6.71% | −0.30 |
| NODK Ni Holdings Inc. | Add +5.5% | 5.53% | −0.54 |
| PDLB Ponce Financial Group Inc. | Add +0.1% | 7.89% | −0.62 |
| WLFC Willis Lease Finance Corp. | Add +6.0% | 23.20% | −7.06 |
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 |