MI
M3F, Inc. SEC 13F Filing (Q2 2026) — Holdings & Portfolio
M3F, Inc.CIK: 0001511291
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$422.2M
Reporting period: 2026-06-30 · Number of holdings: 22
M3F, Inc. disclosed 22 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $422.2M and a quarterly turnover rate of 30.9%.
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Personality snowflake
- Concentration
- 64.48
- Portfolio Stability
- 30.93
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 44
- Sizing Uniformity
- 83.67
M3F, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.161 — mathematically equivalent to about 6 equally-sized positions, well below its 22 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.63), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 7% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd WLFC
-2.3% $36.2M
Sold out SWKH
Sold out BHF
Add GDOT
+62.2% $8.0M
New buy OPFI
Trim RBKB
-45.4% -$6.0M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | WLFC | Willis Lease Finance CORP | Stock-Other | 35.88% | +7.30% | -2.25% | |
| 2 | PDLB | Ponce Financial Group Inc | Stock-Other | 8.02% | -0.28% | -15.22% | |
| 3 | PBFS | Pioneer Bancorp Inc/ny | Stock-Other | 7.37% | +0.22% | -12.07% | |
| 4 | AER | AerCap Holdings N.V. | Stock-Industrials | 6.98% | -1.11% | -15.13% | |
| 5 | ASLE | Aersale CORP | Stock-Other | 6.65% | +0.51% | +11.43% | |
| 6 | NODK | Ni Holdings Inc | Stock-Other | 5.78% | +0.50% | -6.05% | |
| 7 | SNFCA | Security Natl Finl Corp-cl A | Stock-Other | 4.84% | -0.33% | -4.09% | |
| 8 | GDOT | Green Dot Corp-class A | Stock-Other | 3.89% | +1.81% | +62.22% | |
| 9 | ALRS | Alerus Financial CORP | Stock-Other | 3.07% | +0.62% | — | |
| 10 | NFBK | Northfield Bancorp Inc | Stock-Other | 3.03% | +0.42% | +11.97% | |
| 11 | RBKB | Rhinebeck Bancorp Inc | Stock-Other | 2.26% | -1.60% | -45.36% | |
| 12 | PKBK | Parke Bancorp Inc | Stock-Other | 2.22% | -0.12% | -15.11% | |
| 13 | OPFI | Oppfi Inc | Stock-Other | 1.80% | +1.80% | NEW | |
| 14 | CBFV | Cb Financial Services Inc | Stock-Other | 1.54% | +0.09% | +0.15% | |
| 15 | BYFC | Broadway Financial Corp/de | Stock-Other | 1.25% | +0.40% | +15.35% | |
| 16 | MGYR | Magyar Bancorp Inc | Stock-Other | 1.18% | -0.04% | +0.88% | |
| 17 | SSBI | Summit State Bank | Stock-Other | 1.14% | -0.03% | — | |
| 18 | FNRN | First Northern Community Ban | Stock-Other | 1.04% | +1.04% | NEW | |
| 19 | PROV | Provident Financial Hldgs | Stock-Other | 0.97% | -0.17% | -15.99% | |
| 20 | BSBK | Bogota Financial CORP | Stock-Other | 0.91% | -0.13% | -14.21% | |
| 21 | WASH | Washington Trust Bancorp | Stock-Other | 0.17% | -1.21% | -88.47% | |
| 22 | SHFS | Shf Holdings Inc | Stock-Other | 0.02% | -0.04% | — |
Portfolio Performance
Performance for Q3 2026
+3.4%
Performance Last 4 Quarters
+15.5%
- Stdev
- +19.8%
- Beta
- +0.72
- Alpha
- +9.4%
- Max Drawdown
- -12.9%
- Annualized Perf
- +24.2%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +2.83
- Stutzer
- +0.37
- Treynor
- +0.33
- Sterling
- +1.28
- Calmar
- +1.88
- Information Ratio
- +0.21
- Tracking Error
- +17.8%
- Stdev Down
- +8.4%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +69%
- Worst 12 Months
- -5.1%
- Efficiency Ratio
- +0.54
- Sharpe
- +1.2
- Stdev Sectors
- 0%
- Skewness
- +0.61
- Kurtosis
- -0.36
- Upside Potential
- +4.77
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 22 | $422.2M | 31 | ||
| 2026 Q1 | 28 | $403.5M | 31 | ||
| 2025 Q4 | 25 | $364.1M | 15 | ||
| 2025 Q3 | 28 | $352.9M | 29 | ||
| 2025 Q2 | 30 | $354.5M | 0 | ||
| 2025 Q1 | 31 | $363.8M | 100 | ||
| 2024 Q4 | 29 | $345.9M | 0 | ||
| 2024 Q3 | 29 | $324.6M | 0 | ||
| 2024 Q2 | 34 | $270.2M | 0 | ||
| 2024 Q1 | 37 | $282.5M | 0 | ||
| 2023 Q4 | 37 | $314.9M | 0 | ||
| 2023 Q3 | 42 | $299.2M | 0 | ||
| 2023 Q2 | 42 | $318.2M | 0 | ||
| 2023 Q1 | 39 | $304.5M | 0 | ||
| 2022 Q4 | 39 | $327.0M | 0 | ||
| 2022 Q3 | 42 | $285.0M | 0 | ||
| 2022 Q2 | 43 | $307.9M | 0 | ||
| 2022 Q1 | 45 | $300.5M | 0 | ||
| 2021 Q4 | 44 | $298.2M | 0 | ||
| 2021 Q3 | 52 | $305.4M | 0 | ||
| 2021 Q2 | 54 | $282.0M | 93 | ||
| 2021 Q1 | 44 | $247.0M | 33 | ||
| 2020 Q4 | 43 | $210.8M | 53 | ||
| 2020 Q3 | 50 | $157.8M | 36 | ||
| 2020 Q2 | 43 | $135.0M | 35 | ||
| 2020 Q1 | 46 | $139.9M | 53 | ||
| 2019 Q4 | 34 | $128.2M | 30 | ||
| 2019 Q3 | 35 | $137.2M | 53 | ||
| 2019 Q2 | 32 | $116.8M | 51 | ||
| 2019 Q1 | 33 | $112.6M | 35 | ||
| 2018 Q4 | 38 | $108.4M | 45 | ||
| 2018 Q3 | 29 | $103.9M | 30 | ||
| 2018 Q2 | 26 | $92.5M | 44 | ||
| 2018 Q1 | 24 | $86.2M | 30 | ||
| 2017 Q4 | 24 | $76.9M | 51 | ||
| 2017 Q3 | 31 | $101.2M | 34 | ||
| 2017 Q2 | 29 | $91.1M | 71 | ||
| 2017 Q1 | 32 | $94.7M | 32 | ||
| 2016 Q4 | 32 | $112.8M | 35 | ||
| 2016 Q3 | 31 | $101.5M | 30 | ||
| 2016 Q2 | 37 | $109.4M | 44 | ||
| 2016 Q1 | 42 | $103.4M | 43 | ||
| 2015 Q4 | 37 | $100.5M | 100 | ||
| 2013 Q4 | 21 | $77.0M | 56 | ||
| 2013 Q3 | 35 | $127.7M | 39 | ||
| 2013 Q2 | 43 | $157.7M | 0 |
Holding changes this quarter
M3F, Inc.'s most significant position changes for 2026-06-30: Sold out: Swk Holdings CORP (SWKH); Sold out: Brighthouse Financial Inc (BHF); New buy: Oppfi Inc (OPFI); New buy: First Northern Community Ban (FNRN); Sold out: Air Lease CORP (AL).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | WLFC | Willis Lease Finance CORP | +7.3% | -2.25% | Trim |
| 2 | GDOT | Green Dot Corp-class A | +1.8% | +62.22% | Add |
| 3 | OPFI | Oppfi Inc | +1.8% | NEW | New buy |
| 4 | FNRN | First Northern Community Ban | +1% | NEW | New buy |
| 5 | ALRS | Alerus Financial CORP | +0.6% | — | Unchanged |
| 6 | ASLE | Aersale CORP | +0.5% | +11.43% | Add |
| 7 | NODK | Ni Holdings Inc | +0.5% | -6.05% | Trim |
| 8 | NFBK | Northfield Bancorp Inc | +0.4% | +11.97% | Add |
| 9 | BYFC | Broadway Financial Corp/de | +0.4% | +15.35% | Add |
| 10 | PBFS | Pioneer Bancorp Inc/ny | +0.2% | -12.07% | Trim |
| 11 | CBFV | Cb Financial Services Inc | +0.1% | +0.15% | Add |
| 12 | SSBI | Summit State Bank | 0% | — | Unchanged |
| 13 | SHFS | Shf Holdings Inc | 0% | — | Unchanged |
| 14 | MGYR | Magyar Bancorp Inc | 0% | +0.88% | Add |
| 15 | VABK | Virginia National Bankshares | -0.1% | EXIT | Sold out |
| 16 | AUBN | Auburn Natl Bancorporation | -0.1% | EXIT | Sold out |
| 17 | WSBK | Winchester Bancorp Inc | -0.1% | EXIT | Sold out |
| 18 | NSTS | Nsts Bancorp Inc | -0.1% | EXIT | Sold out |
| 19 | PKBK | Parke Bancorp Inc | -0.1% | -15.11% | Trim |
| 20 | BSBK | Bogota Financial CORP | -0.1% | -14.21% | Trim |
| 21 | PROV | Provident Financial Hldgs | -0.2% | -15.99% | Trim |
| 22 | PDLB | Ponce Financial Group Inc | -0.3% | -15.22% | Trim |
| 23 | SNFCA | Security Natl Finl Corp-cl A | -0.3% | -4.09% | Trim |
| 24 | FBIZ | First Business Financial Ser | -0.4% | EXIT | Sold out |
| 25 | AL | Air Lease CORP | -0.6% | EXIT | Sold out |
| 26 | AER | AerCap Holdings N.V. | -1.1% | -15.13% | Trim |
| 27 | WASH | Washington Trust Bancorp | -1.2% | -88.47% | Trim |
| 28 | RBKB | Rhinebeck Bancorp Inc | -1.6% | -45.36% | Trim |
| 29 | BHF | Brighthouse Financial Inc | -4.2% | EXIT | Sold out |
| 30 | SWKH | Swk Holdings CORP | -4.2% | EXIT | Sold out |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Filing History
FAQ
What is M3F, Inc. and what type of investor is it?
M3F, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $422.2M, spread across 22 disclosed positions.
What are M3F, Inc.'s largest equity positions?
Based on the latest 13F filing, M3F, Inc.'s top holdings by market value are:
1. Willis Lease Finance CORP (WLFC) — $151.5M (35.9%)
2. Ponce Financial Group Inc (PDLB) — $33.9M (8.0%)
3. Pioneer Bancorp Inc/ny (PBFS) — $31.1M (7.4%)
4. AerCap Holdings N.V. (AER) — $29.4M (7.0%)
5. Aersale CORP (ASLE) — $28.1M (6.7%)
What changes did M3F, Inc. make in its most recent portfolio filing?
In the latest reported quarter, M3F, Inc. made 27 notable position adjustments: 2 new positions were initiated, 6 existing holdings were added to, 11 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: Swk Holdings CORP (SWKH); Sold out: Brighthouse Financial Inc (BHF); New buy: Oppfi Inc (OPFI); New buy: First Northern Community Ban (FNRN); Sold out: Air Lease CORP (AL)
What sectors does M3F, Inc. focus on?
M3F, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 100.0%
Investment Profile
M3F, Inc. returned an annualized 24.2% over the trailing 36 months — outperforming the S&P 500 by 9.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.72 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 100.0% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 31 over the past 4 quarters — a shift toward more active trading.
It has added to its WLFC position over the past two quarters (+$59.6M, now $151.5M), while trimming PROV over the same stretch (-$655.0K, still holding $4.1M).
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Developer Access
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