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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
JPM.WS
176
DELISTED
JPMorgan Chase
JPM.WS
– –
-128,943
Closed -$9.37M
PNC.WS
177
DELISTED
PNC Financial Services Group Inc
PNC.WS
– –
-14,754
Closed -$1.02M
STI.WS.A
178
DELISTED
Suntrust Banks Inc
STI.WS.A
– –
-64,293
Closed -$2.13M
4 5 6 7
8

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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.