Salzhauer Michael
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Salzhauer Michael reported 74 stock positions worth $158.6 million. Its top holding was Bank of America (BAC) at 23.2% of the portfolio, followed by Wells Fargo (WFC, 5.3%) and Primis Financial (FRST, 5.2%). Compared with Q1 2025, it opened 6 new positions, sold out of 9, added to 14 and reduced 33. The biggest buy was Western Alliance Bancorp (WAL, shares +106%) and the biggest sale Wells Fargo (WFC, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001059543
- Portfolio Value
- $158.6M (Q2 2025)
- SEC Filing
- 0001085146-25-005200 ↗ filed Aug 14, 2025
Holdings Value
Holdings 74 stocks · $158.6M
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 23.19% | 777,065 | $36.8M | Reduce -7.8% |
| WFC Wells Fargo & Co. | 5.29% | 104,707 | $8.4M | Reduce -19.6% |
| FRST Primis Financial Corp. | 5.19% | 758,851 | $8.2M | Add +0.1% |
| SNV Synovus Financial Corp. | 5.13% | 157,128 | $8.1M | Reduce -6.9% |
| SMBK Smartfinancial Inc. | 4.81% | 225,903 | $7.6M | Reduce -5.5% |
| BANC Banc of California Inc. | 4.06% | 458,534 | $6.4M | Reduce -6.5% |
| C Citigroup Inc. | 3.97% | 73,902 | $6.3M | Add +15.7% |
| SBCF Seacoast Banking Corp. | 3.23% | 185,667 | $5.1M | Add +0.6% |
| PNFP Pinnacle Financial Partners | 2.56% | 36,837 | $4.1M | Reduce -22.2% |
| PGC Peapack Gladstone Finl Corp. | 2.53% | 142,126 | $4.0M | Reduce -12.2% |
| WAL Western Alliance Bancorp | 2.20% | 44,663 | $3.5M | Add +105.9% |
| FSUN Firstsun Capital Bancorp | 1.90% | 86,553 | $3.0M | Add +52.4% |
| SSB Southstate Bank Corp. | 1.83% | 31,581 | $2.9M | Reduce -4.0% |
| MCB Metropolitan Bank Holding Co. | 1.79% | 40,568 | $2.8M | Reduce -10.2% |
| COF Capital One Financial Corp. | 1.78% | 13,304 | $2.8M | Add +71.9% |
| FBK FB Financial Corp. filed as FB FINL CORP | 1.68% | 58,694 | $2.7M | Reduce -4.6% |
| TFC Truist Financial Corp. | 1.55% | 57,327 | $2.5M | Reduce -20.8% |
| PNC PNC Financial Services Group | 1.43% | 12,156 | $2.3M | Reduce -16.1% |
| WBS Webster Financial Corp. | 1.39% | 40,289 | $2.2M | Reduce -3.4% |
| HTB Hometrust Bancshares Inc. | 1.21% | 51,088 | $1.9M | Add +11.6% |
| CMA Comerica Inc. | 1.15% | 30,599 | $1.8M | Reduce -27.8% |
| VBTX Veritex Holdings Inc. | 1.07% | 65,161 | $1.7M | Add +9.8% |
| DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC | 1.06% | 62,202 | $1.7M | Reduce -14.1% |
| RF Regions Financial Corp. | 1.01% | 67,950 | $1.6M | Reduce -4.1% |
| CNOB Connectone Bancorp Inc. | 0.97% | 66,696 | $1.5M | Reduce -13.0% |
| VABK Virginia National Bankshares | 0.96% | 41,033 | $1.5M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 0.85% | 4,668 | $1.4M | Reduce -9.7% |
| HWC Hancock Whitney Corp. | 0.84% | 23,132 | $1.3M | Reduce -4.4% |
| TCBX Third Coast Bancshares Inc. | 0.78% | 37,675 | $1.2M | No change |
| SHBI Shore Bancshares Inc. | 0.71% | 72,057 | $1.1M | No change |
| PFS Provident Financial Services | 0.71% | 64,449 | $1.1M | Reduce -8.2% |
| HAFC Hanmi Financial Corporation | 0.71% | 45,546 | $1.1M | Reduce -33.2% |
| WSFS WSFS Financial Corp. | 0.67% | 19,329 | $1.1M | Reduce -9.3% |
| SSBI Summit State Bank | 0.63% | 92,499 | $1.0M | Reduce -3.7% |
| TOWN Towne Bank | 0.63% | 29,071 | $994K | Reduce -4.8% |
| KEY Keycorp | 0.61% | 55,614 | $969K | Add +0.5% |
| FHN First Horizon Corp. | 0.60% | 44,996 | $954K | Add +15.0% |
| CFG Citizens Financial Group | 0.52% | 18,591 | $832K | Reduce -3.7% |
| AAPL Apple Inc. | 0.44% | 3,418 | $701K | No change |
| SPFI South Plains Financial Inc. | 0.43% | 18,708 | $674K | No change |
| CFBK CF Bankshares Inc. | 0.40% | 26,764 | $642K | No change |
| BPOP Popular Inc. | 0.38% | 5,481 | $604K | Reduce -68.1% |
| BAFN Bayfirst Financial Corp. | 0.37% | 42,431 | $594K | Reduce -5.6% |
| MS Morgan Stanley | 0.37% | 4,131 | $582K | Reduce -2.2% |
| MET Metlife Inc. | 0.35% | 6,886 | $554K | No change |
| CBFV CB Financial Services Inc. filed as CB FINL SVCS INC | 0.35% | 19,203 | $547K | No change |
| COLB Columbia Banking System Inc. | 0.33% | 22,686 | $530K | No change |
| USCB Uscb Financial Holdings Inc. | 0.33% | 31,729 | $525K | Add +8.4% |
| AUB Atlantic Union Bankshares Co. | 0.33% | 16,578 | $519K | Reduce -27.0% |
| UCB United Community Banks | 0.32% | 17,032 | $507K | No change |
| XOM Exxon Mobil Corp. | 0.31% | 4,500 | $485K | No change |
| ABCB Ameris Bancorp | 0.30% | 7,376 | $477K | Reduce -40.4% |
| CIVB Civista Bancshares Inc. | 0.28% | 19,420 | $451K | No change |
| ORRF Orrstown Finl Services Inc. | 0.28% | 13,734 | $437K | Reduce -8.4% |
| QCRH QCR Holdings Inc. | 0.28% | 6,428 | $436K | No change |
| T AT&T Inc. | 0.27% | 14,998 | $434K | Add +21.0% |
| HBAN Huntington Bancshares Inc. | 0.20% | 19,037 | $319K | Add +32.8% |
| UWMC Uwm Holdings Corp. | 0.18% | 70,000 | $290K | New |
| HIG Hartford Insurance Group Inc. | 0.18% | 2,246 | $285K | No change |
| V Visa Inc. Class A | 0.18% | 800 | $284K | No change |
| BMY Bristol-Myers Squibb Co. | 0.18% | 6,117 | $283K | No change |
| AFBI Affinity Bancshares Inc. | 0.17% | 15,027 | $276K | New |
| ZION Zions Bancorp NA | 0.17% | 5,200 | $270K | No change |
| BOTJ Bank of the James Financial | 0.17% | 18,690 | $263K | No change |
| MSGS Madison Square Garden Sports | 0.16% | 2,306 | $260K | New |
| ALL Allstate Corp. | 0.16% | 1,287 | $259K | No change |
| VZ Verizon Communications Inc. | 0.15% | 5,628 | $244K | New |
| CB Chubb Ltd. | 0.15% | 824 | $239K | No change |
| INDB Independent Bank Corp. | 0.14% | 3,529 | $222K | No change |
| OPBK Op Bancorp | 0.12% | 15,084 | $196K | Reduce -17.2% |
| VBNK Versabank | 0.12% | 16,843 | $192K | Add +68.4% |
| CARE Carter Bankshares Inc. | 0.12% | 10,744 | $186K | New |
| UBFO United Security Bancshare | 0.10% | 18,181 | $157K | No change |
| CUE Cue Biopharma Inc. | 0.01% | 16,000 | $11K | New |
Options reported separately and not counted above: C calls ($5.9M), BAC calls ($4.4M), WFC calls ($917K), FHN calls ($583K), CMA calls ($347K), UWMC calls ($165K).
Portfolio Sells Q1 2025 → Q2 2025
| WFC Wells Fargo & Co. | Reduce -19.6% | 5.29% | −0.68 |
| PNFP Pinnacle Financial Partners | Reduce -22.2% | 2.56% | −0.64 |
| BPOP Popular Inc. | Reduce -68.1% | 0.38% | −0.63 |
| CMA Comerica Inc. | Reduce -27.8% | 1.15% | −0.45 |
| PGC Peapack Gladstone Finl Corp. | Reduce -12.2% | 2.53% | −0.40 |
| BANC Banc of California Inc. | Reduce -6.5% | 4.06% | −0.38 |
| MNSB Mainstreet Bancshares Inc. | Sold out | 0.00% | −0.36 |
| TFC Truist Financial Corp. | Reduce -20.8% | 1.55% | −0.35 |
| AR Antero Resources Corp. | Sold out | 0.00% | −0.34 |
| AMTB Amerant Bancorp Inc. | Sold out | 0.00% | −0.33 |
| HAFC Hanmi Financial Corporation | Reduce -33.2% | 0.71% | −0.28 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.26 |
| DCOM Dime Commercial Bancshares I | Reduce -14.1% | 1.06% | −0.23 |
| CNOB Connectone Bancorp Inc. | Reduce -13.0% | 0.97% | −0.22 |
| PNC PNC Financial Services Group | Reduce -16.1% | 1.43% | −0.20 |
| CBNK Capital Bancorp Inc. | Sold out | 0.00% | −0.17 |
| ABCB Ameris Bancorp | Reduce -40.4% | 0.30% | −0.15 |
| FBK FB Financial Corp. | Reduce -4.6% | 1.68% | −0.14 |
| ONB Old National Bancorp | Sold out | 0.00% | −0.14 |
| FDL First Trust Morn DVD Lead Inc. | Sold out | 0.00% | −0.13 |
| AUB Atlantic Union Bankshares Co. | Reduce -27.0% | 0.33% | −0.12 |
| SSB Southstate Bank Corp. | Reduce -4.0% | 1.83% | −0.12 |
| BAFN Bayfirst Financial Corp. | Reduce -5.6% | 0.37% | −0.11 |
| FVCB Fvcbankcorp Inc. | Sold out | 0.00% | −0.07 |
| QS Quantumscape Corp. | Sold out | 0.00% | −0.06 |
| PFS Provident Financial Services | Reduce -8.2% | 0.71% | −0.06 |
| TOWN Towne Bank | Reduce -4.8% | 0.63% | −0.04 |
| WSFS WSFS Financial Corp. | Reduce -9.3% | 0.67% | −0.04 |
| OPBK Op Bancorp | Reduce -17.2% | 0.12% | −0.02 |
| ORRF Orrstown Finl Services Inc. | Reduce -8.4% | 0.28% | −0.01 |
| VABK Virginia National Bankshares | Reduce -0.1% | 0.96% | +0.01 |
| WBS Webster Financial Corp. | Reduce -3.4% | 1.39% | +0.01 |
| CFG Citizens Financial Group | Reduce -3.7% | 0.52% | +0.02 |
| RF Regions Financial Corp. | Reduce -4.1% | 1.01% | +0.03 |
| HWC Hancock Whitney Corp. | Reduce -4.4% | 0.84% | +0.03 |
| JPM JPMorgan Chase & Co. | Reduce -9.7% | 0.85% | +0.04 |
| MS Morgan Stanley | Reduce -2.2% | 0.37% | +0.05 |
| SSBI Summit State Bank | Reduce -3.7% | 0.63% | +0.07 |
| SMBK Smartfinancial Inc. | Reduce -5.5% | 4.81% | +0.07 |
| SNV Synovus Financial Corp. | Reduce -6.9% | 5.13% | +0.09 |
| MCB Metropolitan Bank Holding Co. | Reduce -10.2% | 1.79% | +0.18 |
| BAC Bank of America Corp. | Reduce -7.8% | 23.19% | +0.73 |
Portfolio Buys Q1 2025 → Q2 2025
| WAL Western Alliance Bancorp | Add +105.9% | 2.20% | +1.13 |
| C Citigroup Inc. | Add +15.7% | 3.97% | +1.07 |
| COF Capital One Financial Corp. | Add +71.9% | 1.78% | +0.90 |
| FSUN Firstsun Capital Bancorp | Add +52.4% | 1.90% | +0.59 |
| FRST Primis Financial Corp. | Add +0.1% | 5.19% | +0.47 |
| HTB Hometrust Bancshares Inc. | Add +11.6% | 1.21% | +0.20 |
| SBCF Seacoast Banking Corp. | Add +0.6% | 3.23% | +0.20 |
| UWMC Uwm Holdings Corp. | New | 0.18% | +0.18 |
| AFBI Affinity Bancshares Inc. | New | 0.17% | +0.17 |
| MSGS Madison Square Garden Sports | New | 0.16% | +0.16 |
| VZ Verizon Communications Inc. | New | 0.15% | +0.15 |
| VBTX Veritex Holdings Inc. | Add +9.8% | 1.07% | +0.13 |
| CARE Carter Bankshares Inc. | New | 0.12% | +0.12 |
| FHN First Horizon Corp. | Add +15.0% | 0.60% | +0.12 |
| HBAN Huntington Bancshares Inc. | Add +32.8% | 0.20% | +0.06 |
| VBNK Versabank | Add +68.4% | 0.12% | +0.06 |
| T AT&T Inc. | Add +21.0% | 0.27% | +0.05 |
| KEY Keycorp | Add +0.5% | 0.61% | +0.05 |
| CUE Cue Biopharma Inc. | New | 0.01% | +0.01 |
| USCB Uscb Financial Holdings Inc. | Add +8.4% | 0.33% | −0.02 |
Options Activity Q1 2025 → Q2 2025
| C Citigroup Inc. | call | New | 499,900 | $5.9M |
| BAC Bank of America Corp. | call | New | 700,000 | $4.4M |
| WFC Wells Fargo & Co. | call | New | 77,000 | $917K |
| FHN First Horizon Corp. | call | New | 220,000 | $583K |
| CMA Comerica Inc. | call | New | 53,700 | $347K |
| UWMC Uwm Holdings Corp. | call | New | 325,000 | $165K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025
| BAC Bank of America Corp. | COM · principal | Sold out | 1,096,900 | $2.8Mbefore exit |
| C Citigroup Inc. | COM NEW · principal | Sold out | 407,100 | $2.6Mbefore exit |
| CMA Comerica Inc. | COM · principal | Sold out | 123,700 | $458Kbefore exit |
| FHN First Horizon Corp. | COM · principal | Sold out | 220,000 | $440Kbefore exit |
| WFC Wells Fargo & Co. | COM · principal | Sold out | 73,700 | $425Kbefore exit |
| AR Antero Resources Corp. | COM · principal | Sold out | 50,000 | $233Kbefore exit |
| UWMC Uwm Holdings Corp. | COM CL A · principal | Sold out | 150,000 | $128Kbefore exit |
| KEY Keycorp | COM · principal | Sold out | 40,500 | $25Kbefore exit |
| QS Quantumscape Corp. | COM CL A · principal | Sold out | 28,000 | $840before exit |
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 |