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Salzhauer Michael Portfolio holdings

AUM $292M
1-Year Est. Return 30%
This Fund
S&P 500
This Quarter Est. Return
-18.34%
1 Year Est. Return
+30%
3 Year Est. Return
+106.71%
5 Year Est. Return
+50.52%
10 Year Est. Return
+271.97%
AUM
$182M
AUM Growth
-$80.2M
Cap. Flow
-$34.6M
Cap. Flow %
-19.05%
Top 10 Hldgs %
48.95%
Holding
178
New
8
Increased
17
Reduced
72
Closed
28

Top Buys

Rank Stock Value
1
MTB icon
M&T Bank
MTB
+$12.2M
2
COWN
Cowen Inc. Class A Common Stock
COWN
+$7.94M
3
JPM icon
JPMorgan Chase
JPM
+$7.48M
4
CMA
Comerica
CMA
+$4.2M
5
COF icon
Capital One
COF
+$3.95M

Top Sells

Rank Stock Value
1
BAC icon
Bank of America
BAC
+$14.7M
2
JPM.WS
JPMorgan Chase
JPM.WS
+$9.37M
3
MTB.WS
M&T Bank Corporation
MTB.WS
+$8.94M
4
CMA.WS
Comerica Incorporated Ws
CMA.WS
+$7.09M
5
COF.WS
Capital One Financial Corp
COF.WS
+$6.34M

Sector Composition

Rank Sector Weight
1 Financials 85.44%
2 Healthcare 1.26%
3 Communication Services 0.45%
4 Real Estate 0.39%
5 Consumer Staples 0.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBFV icon
51
CB Financial Services
CBFV
$192M
$725K 0.4%
29,273
– –
STBZ
52
DELISTED
State Bank Financial Corporation. Common Stock
STBZ
$718K 0.4%
33,236
– –
BPOP icon
53
Popular Inc
BPOP
$11B
$707K 0.39%
14,964
-3,899
-21% -$201K
BBDC icon
54
Barings BDC
BBDC
$869M
$680K 0.37%
75,387
-2,000
-3% -$19.7K
SVBI
55
DELISTED
Severn Bancorp Inc/MD
SVBI
$676K 0.37%
84,700
-300
-0.4% -$2.57K
MS icon
56
Morgan Stanley
MS
$319B
$665K 0.37%
16,779
-200
-1% -$8.73K
WFC icon
57
Wells Fargo
WFC
$254B
$664K 0.37%
14,406
+10,543
+273% +$540K
TOWN icon
58
Towne Bank
TOWN
$3.54B
$648K 0.36%
27,065
-1,000
-4% -$27.5K
SLCT
59
DELISTED
Select Bancorp, Inc.
SLCT
$622K 0.34%
50,270
– –
ALL icon
60
Allstate
ALL
$70.6B
$606K 0.33%
7,338
-11
-0.1% -$988
MET icon
61
MetLife
MET
$62.4B
$600K 0.33%
14,611
-668
-4% -$28.7K
STND
62
DELISTED
Standard AVB Financial Corp. Common Stock
STND
$568K 0.31%
19,000
-1,000
-5% -$30.2K
CZFC
63
DELISTED
Citizens First Corporation
CZFC
$536K 0.3%
25,000
– –
CNOB icon
64
Center Bancorp
CNOB
$1.65B
$533K 0.29%
28,847
-436
-1% -$8.93K
SMBK icon
65
SmartFinancial
SMBK
$906M
$527K 0.29%
28,818
+15,000
+109% +$311K
NWL icon
66
Newell Brands
NWL
$2.21B
$519K 0.29%
27,943
-10,000
-26% -$199K
MRCC
67
DELISTED
Monroe Capital Corp
MRCC
$503K 0.28%
52,438
– –
T icon
68
AT&T
T
$164B
$491K 0.27%
22,773
– –
HONE
69
DELISTED
HarborOne Bancorp
HONE
$470K 0.26%
53,141
-2,333
-4% -$22.9K
AIG.WS
70
DELISTED
American International Group, Inc.
AIG.WS
$465K 0.26%
85,454
+11,221
+15% +$96.4K
MFIC icon
71
MidCap Financial Investment
MFIC
$801M
$463K 0.25%
37,332
-1
-0% -$15
MPB icon
72
Mid Penn Bancorp
MPB
$973M
$447K 0.25%
19,437
-400
-2% -$10.3K
PEG icon
73
Public Service Enterprise Group
PEG
$38.7B
$442K 0.24%
8,500
– –
LNC icon
74
Lincoln National
LNC
$7.92B
$432K 0.24%
8,417
-270
-3% -$16.4K
C icon
75
CALL
Citigroup
C
$213B
$426K 0.23%
71,700
– –
1 2
3
4 5

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Salzhauer Michael's Q4 2018 Portfolio in Review

As of Q4 2018, Salzhauer Michael held 178 positions worth $182M, down 31% from $262M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Salzhauer Michael withdrew a net $34.6M in Q4 2018, closing 28 positions and reducing 72 holdings. Its most notable exit was JPMorgan Chase, an estimated $9.37M position sold in full.

By sector, the portfolio is most concentrated in Financials at 85% of assets, up from 68% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Salzhauer Michael opened a new position in Cowen Inc. Class A Common Stock worth $6.96M.

  • Salzhauer Michael's largest Q4 2018 buy was Cowen Inc. Class A Common Stock: 521,610 shares worth $6.96M.
  • Salzhauer Michael added most to M&T Bank in Q4 2018, an estimated $12.2M increase.
  • Salzhauer Michael's biggest Q4 2018 reduction was Bank of America, cutting an estimated $14.7M.
  • Salzhauer Michael fully exited JPMorgan Chase in Q4 2018, selling an estimated $9.37M.
  • Salzhauer Michael's ten largest holdings make up 49% of its $182M portfolio in Q4 2018.
  • Salzhauer Michael opened 8 new positions and closed 28 in Q4 2018.
  • Salzhauer Michael's portfolio value fell 31% quarter-over-quarter to $182M.

Based on Salzhauer Michael's 13F filing for Q4 2018, filed 13 Feb 2019.