Petiole USA ltd

CIK 1600202 · View on SEC EDGAR ↗

Portfolio value QoQ: -2.7% 13F does not disclose cash

Top 10 holdings weight54.92%

Top 25 holdings weight93.82%

Positions above 1%29

Effective number of positions23.3

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 0.0% Est. buys $20 · sells $27,263,072

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 72.1% still held

New positions0

Increased1

Decreased19

Closed1

Portfolio value $139.1M #7,662 of 9,337 by 13F value · top 82.1%

Positions 31

As of June 30, 2026 Data as of Q2 2026

Performance vs S&P 500

Tracked Q1 2025–Q2 2026 +40.2%

S&P 500 total return (same window) +37.0%

Excess return +3.2%

Annualized: +31.0% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 95.2% · Options excluded: 0.0%

Sector breakdown

Financials 100.0%

Full portfolio 31 positions

					Streak
CBK Commercial Bancgroup, Inc. - Common Stock	$9,396,842	6.75%	291,014	$1,824,658
FXNC First National Corporation - Common Stock	$9,166,307	6.59%	305,340	$876,562	Down ×2
CBAN Colony Bankcorp, Inc. Common Stock	$9,011,631	6.48%	448,563	$-69,986	Down ×2
RNST Renasant Corporation Common Stock	$8,263,183	5.94%	194,245	$1,205,368	Down ×2
BANC Banc of California, Inc. Common Stock	$8,114,132	5.83%	397,168	$1,131,927	Up ×1
ORRF Orrstown Financial Services, Inc. - Common Stock	$6,849,886	4.92%	167,766	$652,569	Down ×2
MPB Mid Penn Bancorp - Common Stock	$6,703,599	4.82%	192,411	$448,125	Down ×2
HWC Hancock Whitney Corporation - Common Stock	$6,442,210	4.63%	86,218	$959,607
CCNE CNB Financial Corporation - Common Stock	$6,379,314	4.58%	189,241	$898,895
CARE Carter Bankshares, Inc. - Common Stock	$6,095,340	4.38%	179,222	$-2,798,278	Down ×2
UMBF UMB Financial Corporation - Common Stock	$6,084,717	4.37%	42,622	$1,277,382
WAL Western Alliance Bancorporation Common Stock (DE)	$5,411,884	3.89%	65,838	$-150,054	Down ×2
FCNCA First Citizens BancShares, Inc. - Class A Common Stock	$5,025,108	3.61%	2,415	$473,654
WTFC Wintrust Financial Corporation - Common Stock	$4,781,420	3.44%	29,750	$647,955
FRME First Merchants Corporation - Common Stock	$4,108,913	2.95%	94,047	$466,473
BCAL California BanCorp - Common Stock	$3,955,515	2.84%	189,804	$547,888	Down ×2
FRST Primis Financial Corp. - Common Stock	$3,768,735	2.71%	230,222	$711,386
SHBI Shore Bancshares, Inc. - Common Stock	$3,384,827	2.43%	147,487	$629,770
EQBK Equity Bancshares, Inc. Class A Common Stock	$2,810,262	2.02%	57,364	$262,727
FNWB First Northwest Bancorp - Common Stock	$2,747,870	1.97%	254,197	$509,324	Down ×2
FRBA First Bank - Common Stock	$2,742,122	1.97%	154,660	$267,562
CFG Citizens Financial Group, Inc. Common Stock	$2,607,795	1.87%	37,217	$-813,733	Down ×2
PNFP Pinnacle Financial Partners, Inc. - Common Stock	$2,592,011	1.86%	25,694	$-888,476	Down ×1
HAFC Hanmi Financial Corporation - Common Stock	$2,217,812	1.59%	68,451	$376,540	Down ×2
FNB F.N.B. Corporation Common Stock	$1,893,690	1.36%	99,250	$-616,835	Down ×2
HBAN Huntington Bancshares Incorporated - Common Stock	$1,880,089	1.35%	106,040	$-763,822	Down ×2
COLB Columbia Banking System, Inc. - Common Stock	$1,658,652	1.19%	51,752	$-455,927	Down ×2
EWBC East West Bancorp, Inc. - Common Stock	$1,626,534	1.17%	12,600	$-359,202	Down ×1
SSB SouthState Bank Corporation Common Stock	$1,456,043	1.05%	14,575	$-581,710	Down ×2
BANR Banner Corporation - Common Stock	$1,303,221	0.94%	19,615	$-583,017	Down ×2
SBFG SB Financial Group, Inc. - Common Stock	$668,063	0.48%	26,437	$-2,877,115	Down ×1
No matches

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
CARE	Trimmed	-202K	-$2.8M
CBK	Price move only	+0	+$1.8M
UMBF	Price move only	+0	+$1.3M
RNST	Trimmed	-1K	+$1.2M
BANC	Bought more	+1	+$1.1M
HWC	Price move only	+0	+$960K
CCNE	Price move only	+0	+$899K
PNFP	Trimmed	-15K	-$888K
FXNC	Trimmed	-3K	+$877K
CFG	Trimmed	-20K	-$814K

1 position hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
WBS	June 30, 2026	101,875	$7,072,163	No longer tracked
FBMS	June 30, 2025	196,845	$6,655,329	No longer tracked
VLY	Dec. 31, 2025	332,000	$3,519,200	9.2%
SNV	March 31, 2026	70,063	$3,506,653	No longer tracked
CMA	Dec. 31, 2025	45,075	$3,088,539	No longer tracked
ZION	March 31, 2026	50,000	$2,927,000	9.8%
ISTR	Dec. 31, 2025	118,469	$2,749,665	9.9%
SSB (filed as SSBXXXX)	Sept. 30, 2025	25,715	$2,366,551	2.3%
CBFV	June 30, 2025	69,484	$1,976,820	29.9%
EBMT	Dec. 31, 2025	51,585	$890,873	5.1%
HTB	Sept. 30, 2025	15,741	$588,871	13.7%