SEC 13F Intelligence

Managers / Q1 2026

Petiole USA ltd

CIK 0001600202 · 1345 AVENUE OF THE AMERICAS, 2ND FLOOR, NEW YORK, NY, 10105 · 212-503-0474

Reported Value
$143M
Q1 2026
Positions
32
Filings on Record
20
2019–present window
Filed
May 14, 2026
original filing

Summary

Petiole USA Ltd reported $143M in U.S.-listed holdings across 32 positions for Q1 2026.

Its largest position, CBAN, represents 6.4% of the portfolio.

Compared with Q4 2025, the fund opened 2 new positions and exited 3.

Portfolio Metrics

Turnover
+7.9%
vs prior filed quarter
Top-10 Concentration
+51.0%
share of reported value
Largest Position
+6.4%
Colony Bankcorp
New / Exited
2 / 3
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. 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 ’21: $139MQ4 ’21Q1 ’22: $129MQ2 ’22: $114MQ3 ’22: $134MQ3 ’22Q4 ’22: $136MQ1 ’23: $119MQ2 ’23: $102MQ2 ’23Q3 ’23: $109MQ4 ’23: $135MQ1 ’24: $128MQ1 ’24Q2 ’24: $119MQ3 ’24: $153MQ4 ’24: $159MQ4 ’24Q1 ’25: $142MQ2 ’25: $141MQ3 ’25: $145MQ3 ’25Q4 ’25: $154MQ1 ’26: $143Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 100.0%
  • Common Stock · 100.0% · $143M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PNFPPINNACLE FINL PARTNERS INCNEW+40.4K40.4K+$3M$3M
EWBCEAST WEST BANCORP INCNEW+18.6K18.6K+$2M$2M
SYU1SYNOVUS FINL CORPSOLD OUT−70.1K0−$4M$0
PINNACLE FINL PARTNERS INCSOLD OUT−33.8K0−$3M$0
ZIONZIONS BANCORPORATION N ASOLD OUT−50.0K0−$3M$0
UMBFUMB FINL CORPADDED+18.5K42.6K+$2M$5M
FCNCAFIRST CTZNS BANCSHARES INC DTRIMMED−3.8K2.4K−$9M$5M
CFGCITIZENS FINL GROUP INCTRIMMED−4.7K57.1K−$185,523$3M

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

Holdings — Q1 2026

32 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBANCOLONY BANKCORP INChistory →COM6.35%$9M454.8K
2CARECARTER BANKSHARES INChistory →COM NEW6.22%$9M381.4K
3FXNCFIRST NATL CORP VAhistory →COM5.80%$8M307.9K
4CBKCOMMERCIAL BANCGROUP INChistory →COM5.29%$8M291.0K
5WBSWEBSTER FINL CORPhistory →COM4.95%$7M101.9K
6RNSTRENASANT CORPhistory →COM4.94%$7M195.3K
7BANCBANC OF CALIFORNIA INChistory →COM4.88%$7M397.2K
8MPBMID PENN BANCORP INChistory →COM4.37%$6M194.5K
9ORRFORRSTOWN FINL SVCS INChistory →COM4.33%$6M171.8K
10WEAWESTERN ALLIANCE BANCORPhistory →COM3.89%$6M78.5K
11HWCHANCOCK WHITNEY CORPORATIONhistory →COM3.83%$5M86.2K
12CCNECNB FINL CORP PAhistory →COM3.83%$5M189.2K
13UMBFUMB FINL CORPhistory →COM3.36%$5M42.6K
14FCNCAFIRST CTZNS BANCSHARES INC Dhistory →CL A3.18%$5M2.4K
15WF2WINTRUST FINL CORPhistory →COM2.89%$4M29.8K
16FRMEFIRST MERCHANTS CORPhistory →COM2.55%$4M94.0K
17SBFGSB FINL GROUP INChistory →COM2.48%$4M168.8K
18PNFPPINNACLE FINL PARTNERS INChistory →COM2.43%$3M40.4K
19CFGCITIZENS FINL GROUP INChistory →COM2.39%$3M57.1K
20BCALCALIFORNIA BANCORPhistory →COM2.38%$3M192.3K
21FRSTPRIMIS FINANCIAL CORPhistory →COM2.14%$3M230.2K
22SHBISHORE BANCSHARES INChistory →COM1.93%$3M147.5K
23HBANHUNTINGTON BANCSHARES INChistory →COM1.85%$3M168.9K
24EQBKEQUITY BANCSHARES INChistory →COM CL A1.78%$3M57.4K
25FNBF N B CORPhistory →COM1.76%$3M150.2K
26FIRST BK WILLIAMSTOWN NEW JECOM1.73%$2M154.7K
27FNWBFIRST NORTHWEST BANCORPhistory →COM1.57%$2M257.9K
28COLBCOLUMBIA BKG SYS INChistory →COM1.48%$2M77.1K
29SSBSOUTHSTATE BK CORPhistory →COM1.42%$2M22.0K
30EWBCEAST WEST BANCORP INChistory →COM1.39%$2M18.6K
31FW2NBANNER CORPhistory →COM NEW1.32%$2M31.1K
32HAFCHANMI FINL CORPhistory →COM NEW1.29%$2M69.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$143M32May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$154M33Feb 20, 2026RESTATEMENTchanges · EDGAR ↗
Q3 2025$145M36Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$141M37Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$142M38May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$159M39Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$153M39Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$119M38Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$128M38May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$135M39Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$109M39Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$102M37Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$119M37May 16, 2023RESTATEMENTchanges · EDGAR ↗
Q4 2022$136M38Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$134M40Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$114M39Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$129M41May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$139M45Feb 11, 202213F-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 ↗.