Salzhauer Michael

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Salzhauer Michael reported 78 stock positions worth $225.5 million. Its top holding was Bank of America (BAC) at 34.4% of the portfolio, followed by Primis Financial (FRST, 4.6%) and Citigroup (C, 4.0%). Compared with Q3 2025, it opened 6 new positions, sold out of 10, added to 14 and reduced 10. The biggest buy was Synovus Financial (SNV, shares +0%) and the biggest sale an exit from SS SPDR S&P Og Exp & Prod (XOP).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001059543
Portfolio Value
$225.5M (Q4 2025)
SEC Filing
0001059543-26-000001 ↗ filed Feb 2, 2026

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 Q3 2025 Q4 2025: $225.5M $225.5M Q4 2025 Q1 2026: $212.2M Q1 2026 Q2 2026: $271.9M Q2 2026

Holdings 78 stocks · $225.5M
BAC Bank of America Corp. filed as BANK AMERICA CORP 34.42% 1,411,319 $77.6M Add +12.5%
FRST Primis Financial Corp. 4.59% 744,614 $10.4M Reduce -1.9%
C Citigroup Inc. 4.00% 77,302 $9.0M Reduce -19.6%
BANC Banc of California Inc. 3.87% 452,145 $8.7M Add +4.7%
SMBK Smartfinancial Inc. 3.71% 225,903 $8.4M No change
WFC Wells Fargo & Co. 3.41% 82,460 $7.7M Reduce -7.0%
SNV Synovus Financial Corp. 3.36% 151,523 $7.6M Add +0.1%
PGC Peapack Gladstone Finl Corp. 3.33% 269,242 $7.5M Add +5.7%
SBCF Seacoast Banking Corp. 2.71% 194,667 $6.1M Reduce -0.5%
FSUN Firstsun Capital Bancorp 2.35% 140,960 $5.3M Add +12.2%
WAL Western Alliance Bancorp 1.74% 46,671 $3.9M Add +4.1%
PNFP Pinnacle Financial Partners 1.56% 36,837 $3.5M No change
HTB Hometrust Bancshares Inc. 1.50% 78,525 $3.4M Add +11.4%
FBK FB Financial Corp. filed as FB FINL CORP 1.45% 58,694 $3.3M No change
COF Capital One Financial Corp. 1.38% 12,868 $3.1M Reduce -11.3%
FHN First Horizon Corp. 1.33% 125,773 $3.0M Add +179.5%
SSB Southstate Bank Corp. 1.32% 31,581 $3.0M No change
TFC Truist Financial Corp. 1.19% 54,327 $2.7M Reduce -5.2%
WBS Webster Financial Corp. 1.12% 40,289 $2.5M No change
PFS Provident Financial Services 1.12% 128,203 $2.5M Add +50.1%
CMA Comerica Inc. 1.03% 26,602 $2.3M Reduce -12.8%
HBAN Huntington Bancshares Inc. 0.89% 116,107 $2.0M Add +509.9%
PNC PNC Financial Services Group 0.89% 9,598 $2.0M No change
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.83% 62,202 $1.9M No change
MCB Metropolitan Bank Holding Co. 0.81% 23,955 $1.8M Reduce -40.8%
RF Regions Financial Corp. 0.80% 66,450 $1.8M No change
CNOB Connectone Bancorp Inc. 0.78% 67,091 $1.8M Add +0.3%
VABK Virginia National Bankshares 0.73% 41,033 $1.6M No change
TCBX Third Coast Bancshares Inc. 0.68% 40,275 $1.5M No change
HWC Hancock Whitney Corp. 0.65% 23,132 $1.5M No change
SHBI Shore Bancshares Inc. 0.56% 72,057 $1.3M No change
HAFC Hanmi Financial Corporation 0.56% 46,932 $1.3M Reduce -24.5%
CFG Citizens Financial Group 0.55% 21,391 $1.2M No change
KEY Keycorp 0.51% 55,614 $1.1M No change
SSBI Summit State Bank 0.48% 92,499 $1.1M No change
WSFS WSFS Financial Corp. 0.47% 19,329 $1.1M No change
JPM JPMorgan Chase & Co. 0.46% 3,215 $1.0M No change
QCRH QCR Holdings Inc. 0.45% 12,197 $1.0M Add +12.4%
TOWN Towne Bank 0.43% 29,071 $970K No change
AAPL Apple Inc. 0.41% 3,418 $929K No change
SPFI South Plains Financial Inc. 0.39% 22,546 $875K Add +20.5%
USCB Uscb Financial Holdings Inc. 0.37% 45,729 $842K Add +44.1%
COSO Coastal South Bancshares Inc. 0.34% 32,746 $761K No change
MS Morgan Stanley 0.33% 4,131 $733K No change
BPOP Popular Inc. 0.30% 5,394 $672K No change
CFBK CF Bankshares Inc. 0.30% 26,764 $668K No change
CBFV CB Financial Services Inc. filed as CB FINL SVCS INC 0.29% 18,903 $659K No change
COLB Columbia Banking System Inc. 0.28% 22,686 $634K No change
AUB Atlantic Union Bankshares Co. 0.26% 16,578 $585K No change
ABCB Ameris Bancorp 0.24% 7,376 $548K No change
CARE Carter Bankshares Inc. 0.24% 27,744 $545K No change
MET Metlife Inc. 0.24% 6,886 $544K No change
XOM Exxon Mobil Corp. 0.24% 4,500 $542K No change
UCB United Community Banks 0.24% 17,032 $532K No change
SCHL Scholastic Corp. 0.23% 17,700 $524K New
UNTY Unity Bancorp Inc. 0.22% 9,424 $487K New
ORRF Orrstown Finl Services Inc. 0.22% 13,734 $486K No change
T AT&T Inc. 0.21% 19,498 $484K No change
LNKB Linkbancorp Inc. 0.20% 54,385 $449K New
CIVB Civista Bancshares Inc. 0.19% 19,420 $432K No change
BAFN Bayfirst Financial Corp. 0.19% 53,906 $423K Reduce -21.7%
AMTB Amerant Bancorp Inc. 0.17% 20,000 $390K New
UWMC Uwm Holdings Corp. 0.15% 77,244 $338K New
BMY Bristol-Myers Squibb Co. 0.14% 6,053 $326K No change
VBNK Versabank 0.14% 21,443 $321K No change
HIG Hartford Insurance Group Inc. 0.14% 2,246 $309K No change
AFBI Affinity Bancshares Inc. 0.14% 15,027 $307K No change
VZ Verizon Communications Inc. 0.14% 7,528 $307K No change
ZION Zions Bancorp NA 0.14% 5,200 $304K No change
V Visa Inc. Class A 0.12% 800 $281K No change
ALL Allstate Corp. 0.12% 1,287 $268K No change
INDB Independent Bank Corp. 0.11% 3,529 $258K No change
CB Chubb Ltd. 0.11% 824 $257K No change
MSGS Madison Square Garden Sports 0.11% 992 $257K No change
FDL First Trust Morn DVD Lead Inc. 0.09% 4,753 $211K No change
TRV The Travelers Cos Inc. 0.09% 700 $203K No change
BMNR Bitmine Immersion Technologi 0.06% 5,300 $144K No change
CRESY Cresud S.A.-Spons ADR 0.06% 10,000 $126K New

Options reported separately and not counted above: C calls ($10.0M), BAC calls ($5.9M), CMA calls ($1.2M), CFG calls ($451K), KEY calls ($290K), BANC calls ($220K), FHN calls ($195K), VLY calls ($188K), UWMC calls ($148K), GLD puts ($53K), BAC puts ($48K), AR calls ($42K), and 4 more.

Portfolio Sells Q3 2025 → Q4 2025
XOP SS SPDR S&P Og Exp & Prod Sold out 0.00% −1.60
TXNM TXNM Energy Inc. Sold out 0.00% −1.31
C Citigroup Inc. Reduce -19.6% 4.00% −1.00
VOD Vodafone Group PLC-SP ADR Sold out 0.00% −0.81
MCB Metropolitan Bank Holding Co. Reduce -40.8% 0.81% −0.74
SBCF Seacoast Banking Corp. Reduce -0.5% 2.71% −0.34
VIG Vanguard Dividend Apprec ETF Sold out 0.00% −0.28
UPS United Parcel Service Class B Sold out 0.00% −0.27
HAFC Hanmi Financial Corporation Reduce -24.5% 0.56% −0.22
COF Capital One Financial Corp. Reduce -11.3% 1.38% −0.20
BAFN Bayfirst Financial Corp. Reduce -21.7% 0.19% −0.18
ZTS Zoetis Inc. Sold out 0.00% −0.15
BOTJ Bank of the James Financial Sold out 0.00% −0.15
VIR Vir Biotechnology Inc. Sold out 0.00% −0.13
CMA Comerica Inc. Reduce -12.8% 1.03% −0.05
VBTX Veritex Holdings Inc. Sold out 0.00% −0.03
UBFO United Security Bancshare Sold out 0.00% −0.02
FRST Primis Financial Corp. Reduce -1.9% 4.59% +0.50
TFC Truist Financial Corp. Reduce -5.2% 1.19% +1.05
WFC Wells Fargo & Co. Reduce -7.0% 3.41% +2.16

Portfolio Buys Q3 2025 → Q4 2025
SNV Synovus Financial Corp. Add +0.1% 3.36% +2.74
BAC Bank of America Corp. Add +12.5% 34.42% +1.25
FHN First Horizon Corp. Add +179.5% 1.33% +0.81
HBAN Huntington Bancshares Inc. Add +509.9% 0.89% +0.72
PFS Provident Financial Services Add +50.1% 1.12% +0.28
SCHL Scholastic Corp. New 0.23% +0.23
UNTY Unity Bancorp Inc. New 0.22% +0.22
BANC Banc of California Inc. Add +4.7% 3.87% +0.20
LNKB Linkbancorp Inc. New 0.20% +0.20
SPFI South Plains Financial Inc. Add +20.5% 0.39% +0.19
AMTB Amerant Bancorp Inc. New 0.17% +0.17
UWMC Uwm Holdings Corp. New 0.15% +0.15
USCB Uscb Financial Holdings Inc. Add +44.1% 0.37% +0.13
CRESY Cresud S.A.-Spons ADR New 0.06% +0.06
QCRH QCR Holdings Inc. Add +12.4% 0.45% +0.03
HTB Hometrust Bancshares Inc. Add +11.4% 1.50% +0.02
CNOB Connectone Bancorp Inc. Add +0.3% 0.78% −0.07
FSUN Firstsun Capital Bancorp Add +12.2% 2.35% −0.14
PGC Peapack Gladstone Finl Corp. Add +5.7% 3.33% −0.28
WAL Western Alliance Bancorp Add +4.1% 1.74% −2.10

Options Activity Q3 2025 → Q4 2025
C Citigroup Inc. call Add +1.2% 366,900 $10.0M
BAC Bank of America Corp. call Reduce -3.1% 387,500 $5.9M
CMA Comerica Inc. call Reduce -6.9% 50,000 $1.2M
CFG Citizens Financial Group call New 55,000 $451K
KEY Keycorp call New 120,000 $290K
BANC Banc of California Inc. call New 100,000 $220K
FHN First Horizon Corp. call Reduce -51.6% 150,000 $195K
GLD SPDR Gold Shares put New 30,000 $53K
BAC Bank of America Corp. put New 50,000 $48K
BMNR Bitmine Immersion Technologi call New 10,500 $39K
BMY Bristol-Myers Squibb Co. call New 20,000 $38K
WFC Wells Fargo & Co. call Reduce -76.3% 5,800 $31K
FLG Flagstar Bank NA call Sold out 80,000 $16Kbefore exit
VIR Vir Biotechnology Inc. call Sold out 8,600 $2Kbefore exit

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