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Livermore
Livermore
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Salzhauer Michael

SEC CIK
0001059543
Latest filing
Oct 27, 2026

The latest 13F from Salzhauer Michael covers Q3 2026 (filed Oct 27, 2026): 74 long positions worth $237.3M. The top 10 holdings make up 66.0% of the portfolio, and the largest is Bank of America Corp (BAC) at 28.6%. Livermore has 24 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q3 2026

Full comparison

Share counts compared with Q2 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

New
1
Est. +$1.80M
Added
8
Est. +$3.56M
Reduced
36
Est. −$24.5M
Sold out
6
Est. −$1.79M

Top 5 holdings

Share of this quarter's portfolio value

  1. BACBank of America Corp
    28.6%$67.9MHistory
  2. CCitigroup Inc
    9.1%$21.6MHistory
  3. PNFPPinnacle Financial Partners, Inc.
    6.5%$15.4MHistory
  4. COFCapital One Financial Corp
    4.1%$9.77MHistory
  5. PGCPeapack Gladstone Financial Corp
    3.7%$8.78MHistory

Share of portfolio

Top 5 holdings and the other 69 positions, by share of portfolio value

  1. BAC28.6%
  2. C9.1%
  3. PNFP6.5%
  4. COF4.1%
  5. PGC3.7%
  6. Other 69 positions48.0%

Biggest buys

New and added positions, by estimated amount bought

  1. PBAMPrivate Bancorp of America, Inc.
    +$1.80MNewHistory
  2. PNFPPinnacle Financial Partners, Inc.
    +$1.47MAddedHistory
  3. CCitigroup Inc
    +$1.04MAddedHistory
  4. TCBXThird Coast Bancshares, Inc.
    +$432.9KAddedHistory
  5. BHRBBurke & Herbert Financial Services Corp.
    +$267.7KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. PNFPPinnacle Financial Partners, Inc.
    +0.97 pp5.5% → 6.5%History
  2. CCitigroup Inc
    +0.93 pp8.2% → 9.1%History
  3. PBAMPrivate Bancorp of America, Inc.
    +0.76 pp0.0% → 0.8%History
  4. COFCapital One Financial Corp
    +0.43 pp3.7% → 4.1%History
  5. TCBXThird Coast Bancshares, Inc.
    +0.37 pp0.9% → 1.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. BACBank of America Corp
    −$13.5MReducedHistory
  2. SMBKSmartfinancial Inc.
    −$3.48MReducedHistory
  3. FSUNFirstsun Capital Bancorp
    −$1.63MReducedHistory
  4. BANCBanc of California, Inc.
    −$985.1KReducedHistory
  5. PGCPeapack Gladstone Financial Corp
    −$669.7KReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. BACBank of America Corp
    −2.75 pp31.3% → 28.6%History
  2. SMBKSmartfinancial Inc.
    −0.70 pp3.6% → 2.9%History
  3. BANCBanc of California, Inc.
    −0.53 pp3.5% → 3.0%History
  4. FSUNFirstsun Capital Bancorp
    −0.40 pp2.0% → 1.6%History
  5. CIVBCivista Bancshares, Inc.
    −0.20 pp0.2% → 0.0%History

Metrics

13F metrics for Q3 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$237.3M
−$34.6M (−12.7%) vs. prior quarter
Positions
74
−5 vs. prior quarter
Top 10 concentration
66.0%
Top 10 as share of value
Turnover
2.1%
Q3 2026, one quarter
Average holding period
18.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

23 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $271.9M (Q2 2026)

Q1 2021: $166.2MQ2 2021: $202.4MQ3 2021: $221.3MQ4 2021: $263.7MQ1 2022: $226.5MQ2 2022: $160.3MQ3 2022: $157.7MQ4 2022: $165.6MQ1 2023: $109.7MQ2 2023: $92.6MQ3 2023: $92.0MQ4 2023: $111.3MQ1 2024: $124.6MQ2 2024: $123.9MQ3 2024: $157.3MQ4 2024: $195.4MQ1 2025: $163.7MQ2 2025: $158.6MQ3 2025: $171.0MQ4 2025: $225.5MQ1 2026: $212.2MQ2 2026: $271.9MQ3 2026: $237.3M
Q1 2021Q3 2026
13F filings of Salzhauer Michael by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q3 2026Oct 27, 202674$237.3MBACCPNFPvs. Q2 2026SEC
Q2 2026Jul 20, 202679$271.9MBACCPNFPvs. Q1 2026SEC
Q1 2026May 5, 202675$212.2MBACCFRSTvs. Q4 2025SEC
Q4 2025Feb 2, 202678$225.5MBACFRSTCvs. Q3 2025SEC
Q3 2025Oct 20, 202582$171.0MBACCFRSTvs. Q2 2025SEC
Q2 2025Aug 14, 202574$158.6MBACWFCFRSTvs. Q1 2025SEC
Q1 2025Apr 23, 202578$163.7MBACWFCSNVvs. Q4 2024SEC
Q4 2024Feb 13, 2025Amended80$195.4MBACSNVFRSTvs. Q3 2024SEC
Q3 2024Nov 7, 202478$157.3MBACSNVFRSTvs. Q2 2024SEC
Q2 2024Aug 9, 202473$123.9MBACSNVFRSTvs. Q1 2024SEC
Q1 2024Apr 26, 202479$124.6MBACFRSTSNVvs. Q4 2023SEC
Q4 2023Feb 14, 202473$111.3MBACFRSTSBCFvs. Q3 2023SEC
Q3 2023Nov 8, 202366$92.0MBACSNVSBCFvs. Q2 2023SEC
Q2 2023Aug 8, 202370$92.6MBACSNVSBCFvs. Q1 2023SEC
Q1 2023May 5, 202387$109.7MBACSNVFRSTvs. Q4 2022SEC
Q4 2022Feb 8, 202397$165.6MBACSNVFRSTvs. Q3 2022SEC
Q3 2022Nov 3, 202298$157.7MBACSNVFRSTvs. Q2 2022SEC
Q2 2022Aug 5, 202299$160.3MBACCOWNFRSTvs. Q1 2022SEC
Q1 2022May 10, 2022108$226.5MBACCOWNFRSTvs. Q4 2021SEC
Q4 2021Feb 4, 2022111$263.7MBACCOWNFRSTvs. Q3 2021SEC
Q3 2021Nov 12, 2021106$221.3MBACCOWNFRSTvs. Q2 2021SEC
Q2 2021Aug 6, 2021103$202.4MBACCOWNFRSTvs. Q1 2021SEC
Q1 2021May 12, 202191$166.2MBACCOWNFRST–SEC