Salzhauer Michael
Salzhauer Michael refers to the investment management activities of Michael Salzhauer, who operates from New York, NY. The firm appears to be a family-run investment business with involvement in securities and real estate, and is engaged primarily in managing assets via SEC filings, operating at a comparatively small institutional level. Evidence suggests the firm is run in conjunction with family, handling specialized investment strategies in bank stocks. Due to being an individual or family office, the employee count is likely extremely small, possibly under 5.
Investment Strategy
Salzhauer Michael's investment activities historically concentrate on exploiting opportunities in the securities of banks, including involvement in subscription rights relating to demutualization of savings banks. The strategy is opportunistic and often event-driven, focusing largely on financial institutions, and at times involving significant structuring to capture outsized returns from bank stock conversions and related offerings, as well as general securities investing with an emphasis on value extraction in bank equity transactions.
Top Holdings
Equity Positions (79)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
B BAC | BANK AMERICA CORP | 31.05% | $64.7M | 1,254,265 | $44.67 | $51.59 | +$27.9M |
C C | CITIGROUP INC | 4.68% | $9.8M | 96,133 | $76.88 | $101.50 | +$3.5M |
F FRST | PRIMIS FINANCIAL CORP | 3.83% | $8.0M | 758,851 | $14.37 | $10.51 | -$258.0K |
W WAL | WESTERN ALLIANCE BANCORP | 3.60% | $7.5M | 44,815 | $72.03 | $86.72 | +$4.0M |
T TCBX | THIRD COAST BANCSHARES INC | 3.51% | $7.3M | 40,275 | $21.66 | $37.97 | +$6.1M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
C C | CITIGROUP INC | Sold | Call | $6.4M | 3,624 | $101.50 | $85.12 | -1,375 | +$498.2K |
B BAC | BANK AMERICA CORP | Sold | Call | $5.0M | 4,000 | $51.59 | $47.32 | -3,000 | +$545.5K |
C CMA | COMERICA INC | — | Call | $577.4K | 537 | $68.52 | $59.65 | 0 | +$230.5K |
U UWMC | UWM HOLDINGS CORPORATION | Bought | Call | $541.0K | 4,250 | $6.09 | $4.60 | +1,000 | +$376.0K |
F FHN | FIRST HORIZON CORPORATION | Bought | Call | $457.0K | 3,100 | $22.61 | $21.61 | +900 | -$126.0K |