M3f 13F annual report
M3f is an investment fund managing more than $270 million ran by Jason Stock. There are currently 34 companies in Mr. Stock’s portfolio. The largest investments include Willis Lease Finance and Pioneer Bancorp Inc/ny, together worth $64 million.
$270 million Assets Under Management (AUM)
As of 6th August 2024, M3f’s top holding is 621,729 shares of Willis Lease Finance currently worth over $43.1 million and making up 15.9% of the portfolio value.
Relative to the number of outstanding shares of Willis Lease Finance, M3f owns less than approximately 0.1% of the company.
In addition, the fund holds 2,089,687 shares of Pioneer Bancorp Inc/ny worth $20.9 million.
The third-largest holding is Ponce Inc worth $20.4 million and the next is Security Natl Finl Corp Cl A New worth $14.1 million, with 1,760,968 shares owned.
Currently, M3f's portfolio is worth at least $270 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at M3f
The M3f office and employees reside in Salt Lake City, Utah. According to the last 13-F report filed with the SEC, Jason Stock serves as the Managing Director at M3f.
Recent trades
In the most recent 13F filing, M3f revealed that it had opened a new position in
Brookline and bought 979,301 shares worth $8.18 million.
This means they effectively own approximately 0.1% of the company.
Brookline makes up
6.3%
of the fund's Finance sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Pioneer Bancorp Inc/ny by buying
194,955 additional shares.
This makes their stake in Pioneer Bancorp Inc/ny total 2,089,687 shares worth $20.9 million.
On the other hand, there are companies that M3f is getting rid of from its portfolio.
M3f closed its position in National Westn Life Ins Co Cl A on 13th August 2024.
It sold the previously owned 31,821 shares for $15.7 million.
Jason Stock also disclosed a decreased stake in Willis Lease Finance by approximately 0.1%.
This leaves the value of the investment at $43.1 million and 621,729 shares.
One of the smallest hedge funds
The two most similar investment funds to M3f are Agf Investments America and Kohmann Bosshard Services. They manage $271 million and $269 million respectively.
Jason Stock investment strategy
M3f’s portfolio is diversified across 3 sectors.
Currently, their heaviest sector is Finance — making up 48.1% of
the total portfolio value.
The fund focuses on investments in the United States as
52.9% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
15% of the total holdings value.
On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $425 million.
The complete list of M3f trades based on 13F SEC filings
These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Willis Lease Finance Corp. |
1.75%
621,729
|
$43,086,000 | 15.95% |
| Pioneer Bancorp Inc/ny |
10.29%
2,089,687
|
$20,918,000 | 7.74% |
| Ponce Financial Group Inc |
3.33%
2,235,295
|
$20,431,000 | 7.56% |
| National Westn Life Ins Co Cl A |
Closed
31,821
|
$15,655,000 | |
| Security Natl Finl Corp Cl A New |
5.01%
1,760,968
|
$14,070,000 | 5.21% |
| Swk Hldgs Corp Com |
12.46%
802,232
|
$13,630,000 | 5.04% |
| Provident Bancorp Inc |
16.16%
1,278,725
|
$13,030,000 | 4.82% |
| Eastern Bankshares, Inc. |
7.08%
912,126
|
$12,752,000 | 4.72% |
| Bankfinancial Corp |
4.97%
1,214,059
|
$12,493,000 | 4.62% |
| Wells Fargo Co New Com |
23.08%
200,000
|
$11,878,000 | 4.40% |
| Parke Bancorp Inc |
1.20%
536,920
|
$9,342,000 | 3.46% |
| Columbia Banking System, Inc. |
Closed
455,000
|
$8,804,000 | |
| Rhinebeck Bancorp, Inc. |
0.64%
1,077,953
|
$8,473,000 | 3.14% |
| Brookline Bancorp, Inc. |
Opened
979,301
|
$8,177,000 | 3.03% |
| NI Holdings Inc |
4.16%
530,981
|
$8,124,000 | 3.01% |
| First Bus Finl Svcs Inc Wis Com |
1.17%
218,082
|
$8,067,000 | 2.99% |
| South Plains Financial Inc |
4.04%
281,667
|
$7,605,000 | 2.81% |
| HMN Financial Inc. |
0.87%
328,132
|
$7,511,000 | 2.78% |
| Provident Finl Hldgs Inc Com |
2.80%
594,692
|
$7,434,000 | 2.75% |
| Magyar Bancorp Inc. |
No change
571,292
|
$6,421,000 | 2.38% |
| Timberland Bancorp, Inc. |
1.13%
220,741
|
$5,980,000 | 2.21% |
| Northeast Community Bancorp |
18.27%
264,665
|
$4,716,000 | 1.75% |
| Sound Finl Bancorp Inc Com |
3.43%
93,969
|
$4,041,000 | 1.50% |
| Bogota Financial Corp |
No change
497,390
|
$3,347,000 | 1.24% |
| Oak Valley Bancorp |
No change
132,245
|
$3,302,000 | 1.22% |
| Shf Holdings Inc |
3.01%
5,504,882
|
$2,950,000 | 1.09% |
| Finwise Bancorp |
403.64%
278,646
|
$2,845,000 | 1.05% |
| Enterprise Bancorp Inc/ma |
2.16%
99,529
|
$2,476,000 | 0.92% |
| ICC Holdings Inc |
Closed
108,403
|
$1,734,000 | |
| Central Plains Bancshares In |
10.23%
136,453
|
$1,380,000 | 0.51% |
| Lake Shore Bancorp, Inc. |
12.30%
110,126
|
$1,378,000 | 0.51% |
| Community West Bancshares. |
Closed
82,250
|
$1,273,000 | |
| 1895 Bancorp Of Wisconsin In |
13.67%
148,249
|
$1,213,000 | 0.45% |
| Pathfinder Bancorp, Inc. |
No change
77,265
|
$1,019,000 | 0.38% |
| Sr Bancorp Inc |
0.64%
76,621
|
$709,000 | 0.26% |
| First Seacoast Bancorp |
76.62%
59,177
|
$530,000 | 0.20% |
| Broadway Financial Corp/de |
161.65%
89,959
|
$462,000 | 0.17% |
| Investar Hldg Corp Com |
84.98%
25,000
|
$385,000 | 0.14% |
| No transactions found | |||
| Showing first 500 out of 38 holdings | |||
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