SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Petiole USA ltd

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

Reported Value
$129M
Q1 2022
Positions
41
Filings on Record
20
2019–present window
Filed
May 12, 2022
original filing

Summary

Petiole USA Ltd reported $129M in U.S.-listed holdings across 41 positions for Q1 2022.

Its largest position, BANC, represents 7.0% of the portfolio.

Compared with Q4 2021, the fund opened 7 new positions and exited 11.

Portfolio Metrics

Turnover
+15.7%
vs prior filed quarter
Top-10 Concentration
+45.6%
share of reported value
Largest Position
+7.0%
Banc Of California
New / Exited
7 / 11
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: 93.9%Other: 6.1%
  • Common Stock · 93.9% · $121M
  • Other · 6.1% · $8M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CBANCOLONY BANKCORP INCNEW+272.7K272.7K+$5M$5M
WBSWEBSTER FINL CORPNEW+81.0K81.0K+$5M$5M
FCNCAFIRST CTZNS BANCSHARES INC NNEW+4.0K4.0K+$3M$3M
FNBF N B CORPNEW+171.9K171.9K+$2M$2M
EBMTEAGLE BANCORP MONT INCNEW+108.6K108.6K+$2M$2M
LEVEL ONE BANCORP INCNEW+35.0K35.0K+$1M$1M
FRMEFIRST MERCHANTS CORPNEW+10.0K10.0K+$416,000$416,000
STERLING BANCORP DELSOLD OUT−175.0K0−$5M$0

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

Holdings — Q1 2022

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BANCBANC OF CALIFORNIA INChistory →COM7.01%$9M467.2K
2HWCHANCOCK WHITNEY CORPORATIONhistory →COM5.75%$7M142.2K
3FXNCFIRST NATL CORPhistory →COM4.96%$6M280.5K
4CARECARTER BANKSHARES INChistory →COM NEW4.71%$6M349.9K
5MRBKMERIDIAN CORPORATIONhistory →COM4.35%$6M175.0K
6SBFGSB FINL GROUP INChistory →COM4.10%$5M265.7K
7MPBMID PENN BANCORP INChistory →COM3.93%$5M160.0K
8FT2FIRST HORIZON CORPORATIONhistory →COM3.68%$5M202.1K
9CBANCOLONY BANKCORP INChistory →COM3.60%$5M272.7K
10WBSWEBSTER FINL CORPhistory →COM3.52%$5M81.0K
11PACWUSDPACWEST BANCORP DELhistory →COM3.40%$4M101.8K
12CBFVCB FINL SVCS INChistory →COM3.34%$4M179.0K
13SYU1SYNOVUS FINL CORPhistory →COM NEW3.31%$4M87.3K
14BRBSBLUE RIDGE BANKSHARES INC VAhistory →COM3.23%$4M274.8K
15PINNACLE FINL PARTNERS INCCOM2.85%$4M39.9K
16CODORUS VY BANCORP INCCOM2.69%$3M158.0K
17ISTRINVESTAR HLDG CORPhistory →COM2.54%$3M172.0K
18WF2WINTRUST FINL CORPhistory →COM2.52%$3M35.0K
19MLVFUSDMALVERN BANCORP INChistory →COM2.50%$3M200.0K
20HBANHUNTINGTON BANCSHARES INChistory →COM2.31%$3M204.4K
21ISBCUSDINVESTORS BANCORP INC NEWhistory →COM2.21%$3M191.2K
22FBNCFIRST BANCORP N Chistory →COM2.20%$3M68.0K
23CZWICITIZENS CMNTY BANCORP INC Mhistory →COM2.15%$3M183.5K
24FCNCAFIRST CTZNS BANCSHARES INC Nhistory →CL A2.06%$3M4.0K
25PQ3PROVIDENT FINL SVCS INChistory →COM1.80%$2M99.4K
26FNBF N B CORPhistory →COM1.66%$2M171.9K
27FNWBFIRST NORTHWEST BANCORPhistory →COM1.49%$2M86.8K
28SHBISHORE BANCSHARES INChistory →COM1.47%$2M92.6K
29EBMTEAGLE BANCORP MONT INChistory →COM1.42%$2M108.6K
30MDWTUSDMIDWEST HLDG INChistory →COM NEW1.29%$2M99.6K
31FRSTPRIMIS FINANCIAL CORPhistory →COM1.18%$2M108.8K
32LEVEL ONE BANCORP INCCOM1.08%$1M35.0K
33HAFCHANMI FINL CORPhistory →COM NEW1.07%$1M56.4K
34WNEBWESTERN NEW ENG BANCORP INChistory →COM1.01%$1M145.4K
35TBNKUSDTERRITORIAL BANCORP INCCOM0.77%$989,00041.2K
36ACNBACNB CORPCOM0.59%$760,00021.8K
37BFINUSDBANKFINANCIAL CORPCOM0.56%$722,00069.7K
38CALIFORNIA BANCORP INCCOM0.55%$708,00030.8K
39FSFGFIRST SVGS FINL GROUP INCCOM0.42%$548,00022.3K
40PEBKPEOPLES BANCORP N C INCCOM0.39%$504,00017.6K
41FRMEFIRST MERCHANTS CORPCOM0.32%$416,00010.0K

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 ↗.