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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
MS icon
76
CALL
Morgan Stanley
MS
$330B
$416K 0.23%
49,800
– –
OLBK
77
DELISTED
Old Line Bancshares, Inc.
OLBK
$416K 0.23%
15,818
– –
ABR icon
78
Arbor Realty Trust
ABR
$921M
$404K 0.22%
40,078
-192,681
-83% -$2.24M
HBAN icon
79
Huntington Bancshares
HBAN
$34.5B
$403K 0.22%
33,812
-2,800
-8% -$38.9K
BRKL
80
DELISTED
Brookline Bancorp
BRKL
$392K 0.22%
28,371
-125
-0.4% -$1.89K
TCF
81
DELISTED
TCF Financial Corporation Common Stock
TCF
$386K 0.21%
10,539
-511
-5% -$23.3K
FMBI
82
DELISTED
First Midwest Bancorp Inc/IL
FMBI
$378K 0.21%
+19,085
New +$438K
FSK icon
83
FS KKR Capital
FSK
$2.96B
$376K 0.21%
+18,135
New +$451K
STT icon
84
State Street
STT
$50.2B
$371K 0.2%
5,884
-204
-3% -$14.6K
CFG icon
85
Citizens Financial Group
CFG
$30.3B
$346K 0.19%
11,652
-200
-2% -$7.01K
KG
86
Kestrel Group
KG
$67.1M
$342K 0.19%
10,356
+2,474
+31% +$133K
HAFC icon
87
Hanmi Financial
HAFC
$940M
$333K 0.18%
16,914
-1,000
-6% -$21.3K
PMBC
88
DELISTED
Pacific Mercantile Bancorp
PMBC
$332K 0.18%
46,400
-600
-1% -$4.81K
ZIONW
89
DELISTED
Zions Bancorporation N.A. Warrants
ZIONW
$329K 0.18%
35,039
+1,650
+5% +$24.4K
GFED
90
DELISTED
Guaranty Federal Bancshares In
GFED
$328K 0.18%
15,000
– –
MSGS icon
91
Madison Square Garden
MSGS
$9.75B
$326K 0.18%
1,705
– –
DFS
92
DELISTED
Discover Financial Services
DFS
$319K 0.18%
5,416
-842
-13% -$58.1K
KRNY icon
93
Kearny Financial
KRNY
$606M
$316K 0.17%
24,660
-14,864
-38% -$193K
PB icon
94
Prosperity Bancshares
PB
$8.97B
$315K 0.17%
5,063
-372
-7% -$24.5K
WSBF icon
95
Waterstone Financial
WSBF
$370M
$311K 0.17%
18,556
– –
IMH
96
DELISTED
Impac Mortgage Holdings Inc.
IMH
$297K 0.16%
130,129
-35,663
-22% -$175K
HMTA
97
DELISTED
HomeTown Bankshares Corporation Common Stock
HMTA
$296K 0.16%
24,960
– –
BNY
98
CALL
Bank of New York Mellon
BNY
$106B
$290K 0.16%
38,800
– –
TFC icon
99
CALL
Truist Financial
TFC
$63.5B
$278K 0.15%
50,400
-6,900
-12% -$331K
UNVR
100
DELISTED
Univar Solutions Inc.
UNVR
$275K 0.15%
15,500
-2,500
-14% -$57.9K
2 3
4
5 6

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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.