SEC 13F Intelligence

Managers / Q3 2023 · view latest →

M3F, Inc.

CIK 0001511291 · 2070 E 2100 S, SUITE 250, SALT LAKE CITY, UT, 84109 · 202-246-9200

Reported Value
$299M
Q3 2023
Positions
42
Filings on Record
30
2019–present window
Filed
Nov 13, 2023
original filing

Summary

M3f, Inc. reported $299M in U.S.-listed holdings across 42 positions for Q3 2023.

Its largest position, National Westn Life Ins, represents 10.3% of the portfolio.

Compared with Q2 2023, the fund opened 2 new positions and exited 2.

Portfolio Metrics

Turnover
+4.1%
vs prior filed quarter
Top-10 Concentration
+58.2%
share of reported value
Largest Position
+10.3%
National Westn Life Ins
New / Exited
2 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $108MQ4 ’18Q1 ’19: $113MQ2 ’19: $117MQ3 ’19: $137MQ4 ’19: $128MQ4 ’19Q1 ’20: $140MQ2 ’20: $135MQ3 ’20: $158MQ4 ’20: $211MQ4 ’20Q1 ’21: $247MQ2 ’21: $282MQ3 ’21: $305MQ4 ’21: $298MQ4 ’21Q1 ’22: $301MQ2 ’22: $308MQ3 ’22: $285MQ4 ’22: $327MQ4 ’22Q1 ’23: $304MQ2 ’23: $318MQ3 ’23: $299MQ4 ’23: $315MQ4 ’23Q1 ’24: $283MQ2 ’24: $270MQ3 ’24: $325MQ4 ’24: $346MQ4 ’24Q1 ’25: $364MQ2 ’25: $354MQ3 ’25: $353MQ4 ’25: $364MQ4 ’25Q1 ’26: $404Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 88.0%Other: 12.0%
  • Common Stock · 88.0% · $263M
  • Other · 12.0% · $36M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SRBKSR BANCORP INCNEW+133.6K133.6K+$1M$1M
BLFYBLUE FOUNDRY BANCORPNEW+44.1K44.1K+$369,000$369,000
NSTSNSTS BANCORP INCADDED+90.3K146.7K+$813,000$1M
ZIONZIONS BANCORPORATION COMSOLD OUT−175.0K0−$5M$0
TCBXTHIRD COAST BANCSHARES INCSOLD OUT−30.6K0−$486,000$0
BSRRSierra BancorpTRIMMED−105.8K35.2K−$2M$667,000
GBNYGENERATIONS BANCORP NY INCTRIMMED−69.3K24.3K−$643,000$205,000
BHRBBURKE & HERBERT FINANCIAL SETRIMMED−50.1K53.2K−$4M$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2023

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NATIONAL WESTN LIFE INS CO CL ACOMMON10.28%$31M70.3K
2WLFCWillis Lease Finance Corphistory →COMMON8.82%$26M624.0K
3EBCEASTERN BANKSHARES INChistory →COMMON5.81%$17M1.39M
4PDLBPONCE FINANCIAL GROUP INChistory →COMMON5.64%$17M2.16M
5PROVIDENT BANCORP INCCOMMON5.16%$15M1.59M
6PBFSPIONEER BANCORP INC/NYhistory →COMMON4.99%$15M1.75M
7SNFCASECURITY NATL FINL CORP CL A NEWhistory →COMMON4.72%$14M1.80M
8WFCWELLS FARGO & CO NEW COMhistory →COMMON4.57%$14M335.0K
9NECBNORTHEAST COMMUNITY BANCORPhistory →COMMON4.13%$12M838.1K
10SWKHSWK HLDGS CORP COMhistory →COMMON4.03%$12M765.0K
11BankFinancial CorpCOMMON3.56%$11M1.23M
12SPFISOUTH PLAINS FINANCIAL INChistory →COMMON3.09%$9M350.2K
13PKBKPARKE BANCORP INChistory →COMMON3.02%$9M554.5K
14PROVPROVIDENT FINL HLDGS INC COMhistory →COMMON2.97%$9M679.0K
15FBIZFIRST BUS FINL SVCS INC WIS COMhistory →COMMON2.56%$8M255.3K
16HMN Financial IncCOMMON2.18%$7M341.0K
17RBKBRHINEBECK BANCORP INChistory →COMMON2.15%$6M951.5K
18TSBKTIMBERLAND BANCORP INChistory →COMMON2.11%$6M233.0K
19NODKNI HOLDINGS INChistory →COMMON2.08%$6M484.0K
20MGYRMAGYAR BANCORP INC COMhistory →COMMON1.97%$6M573.9K
21SFBCSOUND FINL BANCORP INC COMhistory →COMMON1.67%$5M134.9K
22Community West BancsharesCOMMON1.53%$5M353.1K
23CMAComerica Inchistory →COMMON1.39%$4M100.0K
24BSBKBOGOTA FINANCIAL CORPhistory →COMMON1.23%$4M497.2K
25SHF HOLDINGS INCCOMMON1.22%$4M4.64M
26OVLYOAK VALLEY BANCORPhistory →COMMON1.18%$4M141.2K
27ISTRINVESTAR HLDG CORP COMhistory →COMMON1.15%$3M324.3K
28Enterprise Bancorp Inc/MACOMMON1.01%$3M110.4K
29FSEAFIRST SEACOAST BANCORP INCCOMMON1.00%$3M404.1K
30MTBM&T Bank CorpCOMMON0.89%$3M21.0K
31BHRBBURKE & HERBERT FINANCIAL SECOMMON0.83%$2M53.2K
32ICC HOLDINGS INCCOMMON0.54%$2M102.0K
33NSTSNSTS BANCORP INCCOMMON0.44%$1M146.7K
34SRBKSR BANCORP INCCOMMON0.39%$1M133.6K
35LAKE SHORE BANCORP INC COMCOMMON0.38%$1M111.8K
36PBHCPathfinder Bancorp IncCOMMON0.36%$1M81.5K
37HWBKHAWTHORN BANCSHARES INCCOMMON0.25%$734,00045.1K
38BSRRSierra BancorpCOMMON0.22%$667,00035.2K
39PLBCPLUMAS BANCORPCOMMON0.18%$550,00016.1K
40BLFYBLUE FOUNDRY BANCORPCOMMON0.12%$369,00044.1K
41BCOW1895 BANCORP OF WISCONSIN INCOMMON0.10%$304,00043.0K
42GBNYGENERATIONS BANCORP NY INCCOMMON0.07%$205,00024.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$404M28Apr 28, 202613F-HRchanges · EDGAR ↗
Q4 2025$364M25Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$353M28Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$354M30Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$364M31May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$346M29Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$325M29Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$270M34Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$283M37May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$315M37Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$299M42Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$318M42Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$304M39May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$327M39Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$285M42Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$308M43Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$301M45May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$298M44Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$305M52Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$282M54Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$247M44May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$211M43Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$158M50Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$135M43Aug 11, 202013F-HRchanges · EDGAR ↗
Q1 2020$140M46May 14, 202013F-HRchanges · EDGAR ↗
Q4 2019$128M34Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$137M35Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$117M32Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$113M33May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$108M38Jan 30, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.