Salzhauer Michael

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 20, 2025), Salzhauer Michael reported 82 stock positions worth $195.1 million. Its top holding was Bank of America (BAC) at 33.2% of the portfolio, followed by Citigroup (C, 5.0%) and Primis Financial (FRST, 4.1%). Compared with Q2 2025, it opened 11 new positions, sold out of 3, added to 20 and reduced 13. The biggest buy was Bank of America (BAC, shares +61%) and the biggest sale Synovus Financial (SNV, shares −4%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001059543
Portfolio Value
$195.1M (Q3 2025)
SEC Filing
0001059543-25-000003 ↗ filed Oct 20, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $124.6M Q1 2024 Q2 2024: $123.9M Q2 2024 Q3 2024: $157.3M Q3 2024 Q4 2024: $195.4M Q4 2024 Q1 2025: $156.6M Q1 2025 Q2 2025: $158.6M Q2 2025 Q3 2025: $195.1M $195.1M Q3 2025 Q4 2025: $225.5M Q4 2025 Q1 2026: $212.2M Q1 2026 Q2 2026: $271.9M Q2 2026

Holdings 82 stocks · $195.1M
BAC Bank of America Corp. filed as BANK AMERICA CORP 33.17% 1,254,265 $64.7M Add +61.4%
C Citigroup Inc. 5.00% 96,133 $9.8M Add +30.1%
FRST Primis Financial Corp. 4.09% 758,851 $8.0M No change
WAL Western Alliance Bancorp 3.84% 44,815 $7.5M Add +0.3%
TCBX Third Coast Bancshares Inc. 3.75% 40,275 $7.3M Add +6.9%
BANC Banc of California Inc. 3.66% 431,804 $7.1M Reduce -5.8%
PGC Peapack Gladstone Finl Corp. 3.60% 254,630 $7.0M Add +79.2%
SBCF Seacoast Banking Corp. 3.05% 195,667 $6.0M Add +5.4%
FSUN Firstsun Capital Bancorp 2.50% 125,601 $4.9M Add +45.1%
WSFS WSFS Financial Corp. 1.92% 19,329 $3.7M No change
PNFP Pinnacle Financial Partners 1.77% 36,837 $3.5M No change
FBK FB Financial Corp. filed as FB FINL CORP 1.68% 58,694 $3.3M No change
XOP SS SPDR S&P Og Exp & Prod 1.60% 774 $3.1M New
COF Capital One Financial Corp. 1.58% 14,504 $3.1M Add +9.0%
MCB Metropolitan Bank Holding Co. 1.55% 40,455 $3.0M Reduce -0.3%
HTB Hometrust Bancshares Inc. 1.48% 70,505 $2.9M Add +38.0%
TXNM TXNM Energy Inc. 1.31% 2,250 $2.6M New
WFC Wells Fargo & Co. 1.25% 88,707 $2.4M Reduce -15.3%
CMA Comerica Inc. 1.07% 30,520 $2.1M Reduce -0.3%
VZ Verizon Communications Inc. 1.06% 7,528 $2.1M Add +33.8%
PNC PNC Financial Services Group 0.99% 9,598 $1.9M Reduce -21.0%
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.95% 62,202 $1.9M No change
RF Regions Financial Corp. 0.90% 66,450 $1.8M Reduce -2.2%
CNOB Connectone Bancorp Inc. 0.85% 66,891 $1.7M Add +0.3%
PFS Provident Financial Services 0.84% 85,398 $1.6M Add +32.5%
VOD Vodafone Group PLC-SP ADR 0.81% 118 $1.6M New
HAFC Hanmi Financial Corporation 0.79% 62,163 $1.5M Add +36.5%
TOWN Towne Bank 0.78% 29,071 $1.5M No change
HWC Hancock Whitney Corp. 0.74% 23,132 $1.4M No change
SNV Synovus Financial Corp. 0.62% 151,335 $1.2M Reduce -3.7%
CFG Citizens Financial Group 0.58% 21,391 $1.1M Add +15.1%
KEY Keycorp 0.53% 55,614 $1.0M No change
ZION Zions Bancorp NA 0.53% 5,200 $1.0M No change
FHN First Horizon Corp. 0.52% 44,996 $1.0M No change
JPM JPMorgan Chase & Co. 0.52% 3,215 $1.0M Reduce -31.1%
TRV The Travelers Cos Inc. 0.52% 700 $1.0M New
AAPL Apple Inc. 0.45% 3,418 $870K No change
QCRH QCR Holdings Inc. 0.42% 10,847 $820K Add +68.8%
BAFN Bayfirst Financial Corp. 0.37% 68,876 $720K Add +62.3%
COSO Coastal South Bancshares Inc. 0.37% 32,746 $714K New
SSB Southstate Bank Corp. 0.36% 31,581 $699K No change
BPOP Popular Inc. 0.35% 5,394 $685K Reduce -1.6%
MS Morgan Stanley 0.34% 4,131 $657K No change
CFBK CF Bankshares Inc. 0.33% 26,764 $641K No change
CBFV CB Financial Services Inc. filed as CB FINL SVCS INC 0.32% 18,903 $628K Reduce -1.6%
SMBK Smartfinancial Inc. 0.31% 225,903 $608K No change
AUB Atlantic Union Bankshares Co. 0.30% 16,578 $585K No change
COLB Columbia Banking System Inc. 0.30% 22,686 $584K No change
MET Metlife Inc. 0.29% 6,886 $567K No change
VIG Vanguard Dividend Apprec ETF 0.28% 300 $554K New
T AT&T Inc. 0.28% 19,498 $551K Add +30.0%
ABCB Ameris Bancorp 0.28% 7,376 $541K No change
CARE Carter Bankshares Inc. 0.28% 27,744 $539K Add +158.2%
UPS United Parcel Service Class B 0.27% 369 $534K New
XOM Exxon Mobil Corp. 0.26% 4,500 $507K No change
ORRF Orrstown Finl Services Inc. 0.24% 13,734 $467K No change
USCB Uscb Financial Holdings Inc. 0.24% 31,729 $466K No change
CIVB Civista Bancshares Inc. 0.20% 19,420 $394K No change
SPFI South Plains Financial Inc. 0.19% 18,708 $377K No change
VBNK Versabank 0.17% 21,443 $331K Add +27.3%
HBAN Huntington Bancshares Inc. 0.17% 19,037 $329K No change
UCB United Community Banks 0.16% 17,032 $304K No change
HIG Hartford Insurance Group Inc. 0.15% 2,246 $300K No change
AFBI Affinity Bancshares Inc. 0.15% 15,027 $296K No change
ZTS Zoetis Inc. 0.15% 12 $294K New
BOTJ Bank of the James Financial 0.15% 18,690 $292K No change
ALL Allstate Corp. 0.14% 1,287 $276K No change
BMNR Bitmine Immersion Technologi 0.14% 5,300 $275K New
TFC Truist Financial Corp. 0.14% 57,327 $274K No change
V Visa Inc. Class A 0.14% 800 $273K No change
BMY Bristol-Myers Squibb Co. 0.14% 6,053 $273K Reduce -1.1%
VIR Vir Biotechnology Inc. 0.13% 4,300 $262K New
INDB Independent Bank Corp. 0.13% 3,529 $244K No change
CB Chubb Ltd. 0.12% 824 $233K No change
MSGS Madison Square Garden Sports 0.12% 992 $225K Reduce -57.0%
FDL First Trust Morn DVD Lead Inc. 0.11% 4,753 $206K New
SSBI Summit State Bank 0.05% 92,499 $95K No change
VBTX Veritex Holdings Inc. 0.03% 61,680 $65K Reduce -5.3%
WBS Webster Financial Corp. 0.03% 40,289 $49K No change
UBFO United Security Bancshare 0.02% 27,985 $39K Add +53.9%
VABK Virginia National Bankshares 0.02% 41,033 $38K No change
SHBI Shore Bancshares Inc. 0.00% 72,057 $6K No change

Options reported separately and not counted above: C calls ($6.4M), BAC calls ($5.0M), CMA calls ($577K), UWMC calls ($541K), FHN calls ($457K), WFC calls ($146K), VLY calls ($120K), AR calls ($72K), EGBN calls ($21K), FLG calls ($16K), VIR calls ($2K).

Portfolio Sells Q2 2025 → Q3 2025
SNV Synovus Financial Corp. Reduce -3.7% 0.62% −4.51
WFC Wells Fargo & Co. Reduce -15.3% 1.25% −4.04
VBTX Veritex Holdings Inc. Reduce -5.3% 0.03% −1.04
PNC PNC Financial Services Group Reduce -21.0% 0.99% −0.44
BANC Banc of California Inc. Reduce -5.8% 3.66% −0.40
JPM JPMorgan Chase & Co. Reduce -31.1% 0.52% −0.33
MCB Metropolitan Bank Holding Co. Reduce -0.3% 1.55% −0.24
UWMC Uwm Holdings Corp. Sold out 0.00% −0.18
OPBK Op Bancorp Sold out 0.00% −0.12
RF Regions Financial Corp. Reduce -2.2% 0.90% −0.11
CMA Comerica Inc. Reduce -0.3% 1.07% −0.08
MSGS Madison Square Garden Sports Reduce -57.0% 0.12% −0.05
BMY Bristol-Myers Squibb Co. Reduce -1.1% 0.14% −0.04
BPOP Popular Inc. Reduce -1.6% 0.35% −0.03
CBFV CB Financial Services Inc. Reduce -1.6% 0.32% −0.02
CUE Cue Biopharma Inc. Sold out 0.00% −0.01

Portfolio Buys Q2 2025 → Q3 2025
BAC Bank of America Corp. Add +61.4% 33.17% +9.98
TCBX Third Coast Bancshares Inc. Add +6.9% 3.75% +2.98
WAL Western Alliance Bancorp Add +0.3% 3.84% +1.65
XOP SS SPDR S&P Og Exp & Prod New 1.60% +1.60
TXNM TXNM Energy Inc. New 1.31% +1.31
PGC Peapack Gladstone Finl Corp. Add +79.2% 3.60% +1.07
C Citigroup Inc. Add +30.1% 5.00% +1.04
VZ Verizon Communications Inc. Add +33.8% 1.06% +0.91
VOD Vodafone Group PLC-SP ADR New 0.81% +0.81
FSUN Firstsun Capital Bancorp Add +45.1% 2.50% +0.60
TRV The Travelers Cos Inc. New 0.52% +0.52
COSO Coastal South Bancshares Inc. New 0.37% +0.37
VIG Vanguard Dividend Apprec ETF New 0.28% +0.28
HTB Hometrust Bancshares Inc. Add +38.0% 1.48% +0.27
UPS United Parcel Service Class B New 0.27% +0.27
CARE Carter Bankshares Inc. Add +158.2% 0.28% +0.16
ZTS Zoetis Inc. New 0.15% +0.15
QCRH QCR Holdings Inc. Add +68.8% 0.42% +0.15
BMNR Bitmine Immersion Technologi New 0.14% +0.14
VIR Vir Biotechnology Inc. New 0.13% +0.13
PFS Provident Financial Services Add +32.5% 0.84% +0.13
FDL First Trust Morn DVD Lead Inc. New 0.11% +0.11
HAFC Hanmi Financial Corporation Add +36.5% 0.79% +0.08
CFG Citizens Financial Group Add +15.1% 0.58% +0.06
VBNK Versabank Add +27.3% 0.17% +0.05
T AT&T Inc. Add +30.0% 0.28% +0.01
BAFN Bayfirst Financial Corp. Add +62.3% 0.37% −0.01
UBFO United Security Bancshare Add +53.9% 0.02% −0.08
CNOB Connectone Bancorp Inc. Add +0.3% 0.85% −0.12
SBCF Seacoast Banking Corp. Add +5.4% 3.05% −0.18
COF Capital One Financial Corp. Add +9.0% 1.58% −0.20

Options Activity Q2 2025 → Q3 2025
C Citigroup Inc. call Reduce -27.5% 362,400 $6.4M
BAC Bank of America Corp. call Reduce -42.9% 400,000 $5.0M
UWMC Uwm Holdings Corp. call Add +30.8% 425,000 $541K
FHN First Horizon Corp. call Add +40.9% 310,000 $457K
WFC Wells Fargo & Co. call Reduce -68.2% 24,500 $146K
VLY Valley National Bancorp call New 150,000 $120K
AR Antero Resources Corp. call New 35,000 $72K
EGBN Eagle Bancorp Inc. call New 20,000 $21K
FLG Flagstar Bank NA call New 80,000 $16K
VIR Vir Biotechnology Inc. call New 8,600 $2K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 79$271.9MBAC, C, PNFP, PGC, COF
Q1 2026 75$212.2MBAC, C, FRST, PGC, SMBK
Q4 2025 78$225.5MBAC, FRST, C, BANC, SMBK
Q3 2025 82$195.1MBAC, C, FRST, WAL, TCBX
Q2 2025 74$158.6MBAC, WFC, FRST, SNV, SMBK
Q1 2025 77$156.6MBAC, WFC, SNV, SMBK, FRST
Q4 2024Amended 80$195.4MBAC, SNV, FRST, C, WFC
Q3 2024 78$157.3MBAC, SNV, FRST, SMBK, WFC
Q2 2024 72$123.9MBAC, SNV, FRST, WFC, SBCF
Q1 2024 78$124.6MBAC, FRST, SNV, WFC, SBCF