Salzhauer Michael
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 23, 2025), Salzhauer Michael reported 77 stock positions worth $156.6 million. Its top holding was Bank of America (BAC) at 22.5% of the portfolio, followed by Wells Fargo (WFC, 6.0%) and Synovus Financial (SNV, 5.0%). Compared with Q4 2024, it opened 2 new positions, sold out of 5, added to 18 and reduced 19. The biggest buy was Banc of California (BANC, shares +30%) and the biggest sale Bank of America (BAC, shares −52%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001059543
- Portfolio Value
- $156.6M (Q1 2025)
- SEC Filing
- 0001085146-25-002280 ↗ filed Apr 23, 2025
Holdings Value
Holdings 77 stocks · $156.6M
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 22.46% | 843,103 | $35.2M | Reduce -51.9% |
| WFC Wells Fargo & Co. | 5.97% | 130,233 | $9.3M | Reduce -2.6% |
| SNV Synovus Financial Corp. | 5.04% | 168,761 | $7.9M | Reduce -17.2% |
| SMBK Smartfinancial Inc. | 4.75% | 239,139 | $7.4M | Add +0.1% |
| FRST Primis Financial Corp. | 4.73% | 757,831 | $7.4M | Add +0.2% |
| BANC Banc of California Inc. | 4.44% | 490,200 | $7.0M | Add +29.8% |
| PNFP Pinnacle Financial Partners | 3.20% | 47,323 | $5.0M | No change |
| SBCF Seacoast Banking Corp. | 3.03% | 184,614 | $4.8M | Reduce -10.7% |
| PGC Peapack Gladstone Finl Corp. | 2.93% | 161,802 | $4.6M | Add +9.3% |
| C Citigroup Inc. | 2.89% | 63,855 | $4.5M | Reduce -83.8% |
| SSB Southstate Bank Corp. | 1.95% | 32,912 | $3.1M | No change |
| TFC Truist Financial Corp. | 1.90% | 72,384 | $3.0M | Add +0.2% |
| FBK FB Financial Corp. filed as FB FINL CORP | 1.82% | 61,520 | $2.9M | No change |
| PNC PNC Financial Services Group | 1.63% | 14,490 | $2.5M | No change |
| MCB Metropolitan Bank Holding Co. | 1.61% | 45,171 | $2.5M | Add +8.3% |
| CMA Comerica Inc. | 1.60% | 42,371 | $2.5M | Reduce -74.5% |
| WBS Webster Financial Corp. | 1.37% | 41,725 | $2.2M | Add +9.9% |
| FSUN Firstsun Capital Bancorp | 1.31% | 56,804 | $2.1M | Add +12.4% |
| DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC | 1.29% | 72,367 | $2.0M | Add +17.0% |
| CNOB Connectone Bancorp Inc. | 1.19% | 76,696 | $1.9M | Add +0.3% |
| WAL Western Alliance Bancorp | 1.06% | 21,690 | $1.7M | Add +21.2% |
| BPOP Popular Inc. | 1.01% | 17,194 | $1.6M | No change |
| HTB Hometrust Bancshares Inc. | 1.00% | 45,765 | $1.6M | Add +11.8% |
| HAFC Hanmi Financial Corporation | 0.99% | 68,143 | $1.5M | No change |
| RF Regions Financial Corp. | 0.98% | 70,833 | $1.5M | No change |
| VBTX Veritex Holdings Inc. | 0.95% | 59,361 | $1.5M | Add +20.7% |
| VABK Virginia National Bankshares | 0.95% | 41,052 | $1.5M | No change |
| COF Capital One Financial Corp. | 0.89% | 7,739 | $1.4M | Add +42.6% |
| HWC Hancock Whitney Corp. | 0.81% | 24,196 | $1.3M | Add +1.7% |
| JPM JPMorgan Chase & Co. | 0.81% | 5,168 | $1.3M | No change |
| TCBX Third Coast Bancshares Inc. | 0.80% | 37,675 | $1.3M | No change |
| PFS Provident Financial Services | 0.77% | 70,201 | $1.2M | Add +17.3% |
| WSFS WSFS Financial Corp. | 0.71% | 21,309 | $1.1M | No change |
| TOWN Towne Bank | 0.67% | 30,533 | $1.0M | No change |
| SHBI Shore Bancshares Inc. | 0.62% | 72,057 | $976K | No change |
| SSBI Summit State Bank | 0.57% | 96,046 | $887K | Reduce -5.9% |
| KEY Keycorp | 0.57% | 55,351 | $885K | Reduce -26.1% |
| CFG Citizens Financial Group | 0.50% | 19,301 | $791K | Reduce -89.2% |
| FHN First Horizon Corp. | 0.48% | 39,119 | $760K | Reduce -84.9% |
| AAPL Apple Inc. | 0.48% | 3,418 | $759K | No change |
| BAFN Bayfirst Financial Corp. | 0.48% | 44,932 | $752K | Reduce -18.4% |
| ABCB Ameris Bancorp | 0.45% | 12,376 | $712K | No change |
| AUB Atlantic Union Bankshares Co. | 0.45% | 22,713 | $707K | No change |
| SPFI South Plains Financial Inc. | 0.40% | 18,708 | $620K | No change |
| CFBK CF Bankshares Inc. | 0.38% | 26,764 | $590K | No change |
| COLB Columbia Banking System Inc. | 0.36% | 22,686 | $566K | Add +48.4% |
| MNSB Mainstreet Bancshares Inc. | 0.36% | 33,448 | $559K | Reduce -20.4% |
| MET Metlife Inc. | 0.35% | 6,886 | $553K | No change |
| CBFV CB Financial Services Inc. filed as CB FINL SVCS INC | 0.35% | 19,203 | $546K | Reduce -43.9% |
| USCB Uscb Financial Holdings Inc. | 0.35% | 29,269 | $543K | No change |
| XOM Exxon Mobil Corp. | 0.34% | 4,500 | $535K | No change |
| AR Antero Resources Corp. | 0.34% | 13,000 | $526K | Reduce -50.0% |
| AMTB Amerant Bancorp Inc. | 0.33% | 24,988 | $516K | Reduce -28.6% |
| MS Morgan Stanley | 0.31% | 4,225 | $493K | No change |
| UCB United Community Banks | 0.31% | 17,032 | $479K | No change |
| QCRH QCR Holdings Inc. | 0.29% | 6,428 | $458K | Add +1.6% |
| ORRF Orrstown Finl Services Inc. | 0.29% | 15,000 | $450K | No change |
| DVN Devon Energy Corp. | 0.26% | 10,700 | $400K | No change |
| CIVB Civista Bancshares Inc. | 0.24% | 19,420 | $379K | No change |
| BMY Bristol-Myers Squibb Co. | 0.24% | 6,117 | $373K | No change |
| T AT&T Inc. | 0.22% | 12,398 | $351K | New |
| V Visa Inc. Class A | 0.18% | 800 | $280K | No change |
| HIG Hartford Insurance Group Inc. | 0.18% | 2,246 | $278K | No change |
| BOTJ Bank of the James Financial | 0.18% | 18,690 | $276K | Reduce -1.6% |
| ALL Allstate Corp. | 0.17% | 1,287 | $266K | No change |
| CBNK Capital Bancorp Inc. | 0.17% | 9,208 | $261K | Reduce -46.5% |
| ZION Zions Bancorp NA | 0.17% | 5,200 | $259K | No change |
| CB Chubb Ltd. | 0.16% | 824 | $249K | No change |
| INDB Independent Bank Corp. | 0.14% | 3,529 | $221K | No change |
| OPBK Op Bancorp | 0.14% | 18,210 | $219K | No change |
| HBAN Huntington Bancshares Inc. | 0.14% | 14,337 | $215K | Reduce -12.2% |
| ONB Old National Bancorp | 0.14% | 10,000 | $212K | No change |
| FDL First Trust Morn DVD Lead Inc. | 0.13% | 4,675 | $203K | New |
| UBFO United Security Bancshare | 0.10% | 18,181 | $163K | No change |
| FVCB Fvcbankcorp Inc. | 0.07% | 10,000 | $106K | No change |
| VBNK Versabank | 0.07% | 10,000 | $103K | No change |
| QS Quantumscape Corp. | 0.06% | 21,700 | $90K | Reduce -56.3% |
Other holdings (9): bonds, preferreds, convertibles and warrants · $7.1M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BAC Bank of America Corp. | COM · principal | 1,096,900 | $2.8M | New |
| C Citigroup Inc. | COM NEW · principal | 407,100 | $2.6M | New |
| CMA Comerica Inc. | COM · principal | 123,700 | $458K | New |
| FHN First Horizon Corp. | COM · principal | 220,000 | $440K | New |
| WFC Wells Fargo & Co. | COM · principal | 73,700 | $425K | New |
| AR Antero Resources Corp. | COM · principal | 50,000 | $233K | New |
| UWMC Uwm Holdings Corp. | COM CL A · principal | 150,000 | $128K | New |
| KEY Keycorp | COM · principal | 40,500 | $25K | New |
| QS Quantumscape Corp. | COM CL A · principal | 28,000 | $840 | New |
Total filed on the 13F, all lines: $163.7M.
Portfolio Sells Q4 2024 → Q1 2025
| BAC Bank of America Corp. | Reduce -51.9% | 22.46% | −9.21 |
| C Citigroup Inc. | Reduce -83.8% | 2.89% | −1.40 |
| CFG Citizens Financial Group | Reduce -89.2% | 0.50% | −0.44 |
| SNV Synovus Financial Corp. | Reduce -17.2% | 5.04% | −0.31 |
| FHN First Horizon Corp. | Reduce -84.9% | 0.48% | −0.19 |
| CBFV CB Financial Services Inc. | Reduce -43.9% | 0.35% | −0.15 |
| AR Antero Resources Corp. | Reduce -50.0% | 0.34% | −0.13 |
| CMA Comerica Inc. | Reduce -74.5% | 1.60% | −0.12 |
| MSGS Madison Square Garden Sports | Sold out | 0.00% | −0.11 |
| PPBI Pacific Premier Bancorp Inc. | Sold out | 0.00% | −0.11 |
| FXNC First National Corp. | Sold out | 0.00% | −0.10 |
| UWMC Uwm Holdings Corp. | Sold out | 0.00% | −0.10 |
| SPY SS SPDR S&P 500 ETF Trust-US | Sold out | 0.00% | −0.09 |
| CBNK Capital Bancorp Inc. | Reduce -46.5% | 0.17% | −0.08 |
| AMTB Amerant Bancorp Inc. | Reduce -28.6% | 0.33% | −0.07 |
| MNSB Mainstreet Bancshares Inc. | Reduce -20.4% | 0.36% | −0.03 |
| QS Quantumscape Corp. | Reduce -56.3% | 0.06% | −0.01 |
| HBAN Huntington Bancshares Inc. | Reduce -12.2% | 0.14% | +0.00 |
| BOTJ Bank of the James Financial | Reduce -1.6% | 0.18% | +0.02 |
| KEY Keycorp | Reduce -26.1% | 0.57% | +0.06 |
| BAFN Bayfirst Financial Corp. | Reduce -18.4% | 0.48% | +0.10 |
| SBCF Seacoast Banking Corp. | Reduce -10.7% | 3.03% | +0.12 |
| SSBI Summit State Bank | Reduce -5.9% | 0.57% | +0.17 |
| WFC Wells Fargo & Co. | Reduce -2.6% | 5.97% | +1.80 |
Portfolio Buys Q4 2024 → Q1 2025
| BANC Banc of California Inc. | Add +29.8% | 4.44% | +1.45 |
| SMBK Smartfinancial Inc. | Add +0.1% | 4.75% | +0.96 |
| PGC Peapack Gladstone Finl Corp. | Add +9.3% | 2.93% | +0.50 |
| COF Capital One Financial Corp. | Add +42.6% | 0.89% | +0.39 |
| MCB Metropolitan Bank Holding Co. | Add +8.3% | 1.61% | +0.37 |
| DCOM Dime Commercial Bancshares I | Add +17.0% | 1.29% | +0.32 |
| WBS Webster Financial Corp. | Add +9.9% | 1.37% | +0.30 |
| WAL Western Alliance Bancorp | Add +21.2% | 1.06% | +0.30 |
| TFC Truist Financial Corp. | Add +0.2% | 1.90% | +0.30 |
| HTB Hometrust Bancshares Inc. | Add +11.8% | 1.00% | +0.30 |
| CNOB Connectone Bancorp Inc. | Add +0.3% | 1.19% | +0.29 |
| FSUN Firstsun Capital Bancorp | Add +12.4% | 1.31% | +0.28 |
| VBTX Veritex Holdings Inc. | Add +20.7% | 0.95% | +0.26 |
| T AT&T Inc. | New | 0.22% | +0.22 |
| FRST Primis Financial Corp. | Add +0.2% | 4.73% | +0.21 |
| PFS Provident Financial Services | Add +17.3% | 0.77% | +0.19 |
| COLB Columbia Banking System Inc. | Add +48.4% | 0.36% | +0.15 |
| HWC Hancock Whitney Corp. | Add +1.7% | 0.81% | +0.14 |
| FDL First Trust Morn DVD Lead Inc. | New | 0.13% | +0.13 |
| QCRH QCR Holdings Inc. | Add +1.6% | 0.29% | +0.03 |
Notes & Other Activity Q4 2024 → Q1 2025
| BAC Bank of America Corp. | COM · principal | New | 1,096,900 | $2.8M |
| C Citigroup Inc. | COM NEW · principal | New | 407,100 | $2.6M |
| CMA Comerica Inc. | COM · principal | New | 123,700 | $458K |
| FHN First Horizon Corp. | COM · principal | New | 220,000 | $440K |
| WFC Wells Fargo & Co. | COM · principal | New | 73,700 | $425K |
| AR Antero Resources Corp. | COM · principal | New | 50,000 | $233K |
| UWMC Uwm Holdings Corp. | COM CL A · principal | New | 150,000 | $128K |
| KEY Keycorp | COM · principal | New | 40,500 | $25K |
| QS Quantumscape Corp. | COM CL A · principal | New | 28,000 | $840 |
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 | 79 | $271.9M | BAC, C, PNFP, PGC, COF |
| Q1 2026 | 75 | $212.2M | BAC, C, FRST, PGC, SMBK |
| Q4 2025 | 78 | $225.5M | BAC, FRST, C, BANC, SMBK |
| Q3 2025 | 82 | $195.1M | BAC, C, FRST, WAL, TCBX |
| Q2 2025 | 74 | $158.6M | BAC, WFC, FRST, SNV, SMBK |
| Q1 2025 | 77 | $156.6M | BAC, WFC, SNV, SMBK, FRST |
| Q4 2024Amended | 80 | $195.4M | BAC, SNV, FRST, C, WFC |
| Q3 2024 | 78 | $157.3M | BAC, SNV, FRST, SMBK, WFC |
| Q2 2024 | 72 | $123.9M | BAC, SNV, FRST, WFC, SBCF |
| Q1 2024 | 78 | $124.6M | BAC, FRST, SNV, WFC, SBCF |