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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
RAD
101
DELISTED
Rite Aid Corporation
RAD
$273K 0.15%
21,869
-15,000
-41% -$316K
BOTJ icon
102
Bank Of The James
BOTJ
$126M
$272K 0.15%
23,019
– –
FCCO icon
103
First Community Corp
FCCO
$327M
$262K 0.14%
13,500
– –
HTB
104
HomeTrust Bancshares
HTB
$866M
$262K 0.14%
10,000
– –
HTGC icon
105
Hercules Capital
HTGC
$2.99B
$254K 0.14%
23,000
-2,000
-8% -$24.4K
BOCH
106
DELISTED
Bank of Commerce Holdings (CA)
BOCH
$244K 0.13%
22,300
– –
AAPL icon
107
Apple
AAPL
$4.97T
$241K 0.13%
6,088
-800
-12% -$38.8K
FDUS icon
108
Fidus Investment
FDUS
$759M
$241K 0.13%
20,600
– –
PFE icon
109
Pfizer
PFE
$143B
$241K 0.13%
5,829
-482
-8% -$20K
SSBI icon
110
Summit State Bank
SSBI
$88.8M
$226K 0.12%
21,120
– –
CVLY
111
DELISTED
Codorus Valley Bancorp Inc
CVLY
$223K 0.12%
11,025
– –
FCBP
112
DELISTED
First Choice Bancorp Common Stock
FCBP
$223K 0.12%
9,880
– –
ARGO
113
DELISTED
Argo Group International Holdings, Ltd.
ARGO
$220K 0.12%
3,273
-25
-0.8% -$1.62K
PPBI
114
DELISTED
Pacific Premier Bancorp
PPBI
$218K 0.12%
8,540
-460
-5% -$13.9K
HOPE icon
115
Hope Bancorp
HOPE
$1.8B
$213K 0.12%
17,981
-2,000
-10% -$28.6K
ISBC
116
DELISTED
Investors Bancorp, Inc.
ISBC
$208K 0.11%
20,010
-8,581
-30% -$99K
BKJ
117
DELISTED
Bancorp of New Jersey, Inc.
BKJ
$205K 0.11%
15,750
– –
BDX icon
118
Becton Dickinson
BDX
$46.4B
$201K 0.11%
916
-513
-36% -$119K
UPS icon
119
United Parcel Service
UPS
$88.9B
$194K 0.11%
1,993
– –
RBB icon
120
RBB Bancorp
RBB
$448M
$189K 0.1%
+10,776
New +$231K
AIG icon
121
American International
AIG
$42.5B
$182K 0.1%
4,613
– –
BMY icon
122
CALL
Bristol-Myers Squibb
BMY
$129B
$141K 0.08%
14,700
– –
HBK
123
DELISTED
Hamilton Bancorp, Inc. Common Stock
HBK
$139K 0.08%
10,000
– –
SFE
124
DELISTED
Safeguard Scientifics, Inc.
SFE
$136K 0.07%
15,805
-3,791
-19% -$33.1K
WFC icon
125
CALL
Wells Fargo
WFC
$254B
$134K 0.07%
64,900
-200,000
-76% -$10.2M
3 4
5
6 7

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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.