SALZHAUER MICHAEL

CIK 0001059543 · Q2 2026

13F Equity AUM

$292.4M

+37.8% QoQ

Positions

+4 QoQ

AUM Rank

#5,116

Top 58%

Skill Alpha (FF)

+0.4%/yr^ns

No Clear Edge

Rank #2,316 · Top 28%

vs S&P -3.5%/yr (unadj.)

Quarters Tracked

~12 years

Portfolio Concentration

Top 5: 54.8%Top 10: 69.0%Top 20: 81.1%

BAC30.7%

TRVC12.0%

PNFP5.1%

PGC3.5%

COF3.4%

BANC3.4%

SMBK3.4%

FRST2.6%

WFC2.6%

SBG12.2%

Others (69)31.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services84.0%

Unclassified12.0%

Financials2.7%

Other1.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 79Median: 0.40%Avg: 1.27%

0–0.5%

45(9.4%)

0.5–1%

17(12.2%)

1–3%

10(16.8%)

3–5%

4(13.7%)

5%+

3(47.8%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 79vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New9Increased15Decreased17Exited5

New Positions

PNFP5.1%

+149K

GDOT0.1%

+23K

BKH0.1%

+4K

KNTK0.1%

+5K

CSCO0.1%

+2K

SPHR0.1%

+1K

CBAN0.1%

+10K

BRBS0.1%

+56K

AIG0.0%

+30K

Increased

UWMC0.2%

+344K(+61%)

BANC3.4%

+80K(+14%)

COF3.4%

+36K(+256%)

AMTB0.4%

+30K(+150%)

TCBX0.9%

+21K(+52%)

BHRB0.5%

+14K(+250%)

USCB0.4%

+10K(+19%)

UTB0.5%

+6K(+32%)

SPFI0.4%

+4K(+17%)

WFC2.6%

+1K(+1%)

Decreased

FRST2.6%

-218,126(-32%)

TRVC12.0%

-160,479(-22%)

BAC30.7%

-139,299(-7%)

VLY0.2%

-75,800(-47%)

PGC3.5%

-39,107(-15%)

KEY0.4%

-20,000(-10%)

HAFC0.4%

-15,970(-29%)

DCOM0.8%

-8,000(-13%)

BMY0.1%

-5,800(-49%)

SBG12.2%

-3,000(-2%)

Exited

-81,685

-8,761

-34,606

-7,135

-10,500

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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