SEC 13F Intelligence

Managers / Q1 2025 · view latest →

Petiole USA ltd

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

Reported Value
$142M
Q1 2025
Positions
38
Filings on Record
20
2019–present window
Filed
May 14, 2025
original filing

Summary

Petiole USA Ltd reported $142M in U.S.-listed holdings across 38 positions for Q1 2025.

Its largest position, FCNCA, represents 5.8% of the portfolio.

Compared with Q4 2024, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+1.7%
vs prior filed quarter
Top-10 Concentration
+44.8%
share of reported value
Largest Position
+5.8%
First Ctzns Bancshares Inc N
New / Exited
1 / 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. 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: 97.2%Other: 2.8%
  • Common Stock · 97.2% · $138M
  • Other · 2.8% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UMBFUMB FINL CORPNEW+24.1K24.1K+$2M$2M
HTLFEURHEARTLAND FINL USA INCSOLD OUT−43.9K0−$3M$0
BRBSBLUE RIDGE BANKSHARES INC VASOLD OUT−110.1K0−$354,622$0
CBFVCB FINL SVCS INCTRIMMED−145.7K69.5K−$4M$2M
HTBHOMETRUST BANCSHARES INCTRIMMED−30.2K47.3K−$988,759$2M
EBMTEAGLE BANCORP MONT INCTRIMMED−42.9K188.6K−$387,468$3M
CMACOMERICA INCTRIMMED−8.0K49.9K−$633,896$3M
SBFGSB FINL GROUP INCTRIMMED−10.0K176.1K−$224,948$4M

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

Holdings — Q1 2025

38 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FCNCAFIRST CTZNS BANCSHARES INC Nhistory →CL A5.78%$8M4.4K
2CBANCOLONY BANKCORP INChistory →COM5.28%$7M462.8K
3FXNCFIRST NATL CORPhistory →COM4.94%$7M311.4K
4FBMSUSDFIRST BANCSHARES INC MISShistory →COM4.70%$7M196.8K
5WEAWESTERN ALLIANCE BANCORPhistory →COM4.60%$7M84.8K
6CARECARTER BANKSHARES INChistory →COM NEW4.42%$6M386.9K
7BANCBANC OF CALIFORNIA INChistory →COM3.98%$6M397.2K
8ORRFORRSTOWN FINL SVCS INChistory →COM3.75%$5M177.0K
9WBSWEBSTER FINL CORPhistory →COM3.71%$5M101.9K
10MPBMID PENN BANCORP INChistory →COM3.61%$5M197.1K
11HWCHANCOCK WHITNEY CORPORATIONhistory →COM3.19%$5M86.2K
12CCNECNB FINL CORP PAhistory →COM2.97%$4M189.2K
13PINNACLE FINL PARTNERS INCCOM2.76%$4M36.8K
14FRMEFIRST MERCHANTS CORPhistory →COM2.69%$4M94.0K
15SBFGSB FINL GROUP INChistory →COM2.59%$4M176.1K
16SYU1SYNOVUS FINL CORPhistory →COM NEW2.52%$4M76.3K
17WF2WINTRUST FINL CORPhistory →COM2.36%$3M29.8K
18EBMTEAGLE BANCORP MONT INChistory →COM2.23%$3M188.6K
19HBANHUNTINGTON BANCSHARES INChistory →COM2.12%$3M200.0K
20VLYVALLEY NATL BANCORPhistory →COM2.09%$3M332.0K
21CMACOMERICA INChistory →COM2.08%$3M49.9K
22BCALCALIFORNIA BANCORPhistory →COM1.98%$3M195.6K
23CFGCITIZENS FINL GROUP INChistory →COM1.95%$3M67.5K
24FNWBFIRST NORTHWEST BANCORPhistory →COM1.89%$3M262.7K
25ISTRINVESTAR HLDG CORPhistory →COM1.82%$3M146.1K
26ZIONZIONS BANCORPORATION N Ahistory →COM1.76%$2M50.0K
27UMBFUMB FINL CORPhistory →COM1.72%$2M24.1K
28SSBUSDSOUTHSTATE CORPORATIONhistory →COM1.69%$2M25.7K
29FNBF N B CORPhistory →COM1.67%$2M175.4K
30FW2NBANNER CORPhistory →COM NEW1.66%$2M36.8K
31FIRST BK WILLIAMSTOWN NEW JECOM1.62%$2M154.7K
32EQBKEQUITY BANCSHARES INChistory →COM CL A1.60%$2M57.4K
33FRSTPRIMIS FINANCIAL CORPhistory →COM1.59%$2M230.2K
34COLBCOLUMBIA BKG SYS INChistory →COM1.58%$2M89.8K
35SHBISHORE BANCSHARES INChistory →COM1.41%$2M147.5K
36CBFVCB FINL SVCS INChistory →COM1.40%$2M69.5K
37HAFCHANMI FINL CORPhistory →COM NEW1.15%$2M71.7K
38HTBHOMETRUST BANCSHARES INChistory →COM1.15%$2M47.3K

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 ↗.