SEC 13F Intelligence

Managers / Q4 2023 · view latest →

BHZ CAPITAL MANAGEMENT, LP

CIK 0001618872 · 2025 GATEWAY PLACE, SUITE 405, SAN JOSE, CA, 95110 · 408-998-5438

Reported Value
$189M
Q4 2023
Positions
62
Filings on Record
24
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Bhz Capital Management, LP reported $189M in U.S.-listed holdings across 62 positions for Q4 2023.

Its largest position, FFWM, represents 3.8% of the portfolio.

Compared with Q3 2023, the fund opened 7 new positions and exited 10.

Portfolio Metrics

Turnover
+10.2%
vs prior filed quarter
Top-10 Concentration
+26.5%
share of reported value
Largest Position
+3.8%
First Fndtn
New / Exited
7 / 10
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 ’18: $379MQ4 ’18Q1 ’19: $399MQ2 ’19: $417MQ3 ’19: $413MQ3 ’19Q4 ’19: $426MQ1 ’20: $266MQ2 ’20: $254MQ2 ’20Q3 ’20: $236MQ4 ’20: $296MQ1 ’21: $315MQ1 ’21Q2 ’21: $269MQ3 ’21: $294MQ4 ’21: $294MQ4 ’21Q1 ’22: $297MQ2 ’22: $247MQ3 ’22: $240MQ3 ’22Q4 ’22: $227MQ1 ’23: $215MQ2 ’23: $143MQ2 ’23Q3 ’23: $121MQ4 ’23: $189MQ1 ’24: $88MQ1 ’24Q2 ’24: $0filingsflow.com

Portfolio Composition

By security type
Common Stock: 52.9%ETP: 43.8%Other: 3.3%
  • Common Stock · 52.9% · $100M
  • ETP · 43.8% · $83M
  • Other · 3.3% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR SER TRNEW+470.0K470.0K+$25M$25M
EFSCENTERPRISE FINL SVCS CORPNEW+15.5K15.5K+$692,209$692,209
WSBFWATERSTONE FINL INC MDNEW+31.9K31.9K+$453,392$453,392
MGYRMAGYAR BANCORP INCNEW+28.4K28.4K+$318,408$318,408
BOTJBANK OF THE JAMES FINL GP INNEW+21.9K21.9K+$268,119$268,119
BVFLBV FINL INCNEW+17.3K17.3K+$244,832$244,832
LAKE SHORE BANCORP INCNEW+13.4K13.4K+$157,324$157,324
CLSTCATALYST BANCORP INCADDED+27.3K38.0K+$283,130$411,931

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

Holdings — Q4 2023

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1FFWMFIRST FNDTN INChistory →COM3.80%$7M742.4K
2BANCBANC OF CALIFORNIA INChistory →COM3.75%$7M528.2K
3EGBNEAGLE BANCORP INC MDhistory →COM3.39%$6M212.7K
4FCNCAFIRST CTZNS BANCHSARES INC Nhistory →CL A3.29%$6M4.4K
5VBTXVERITEX HLDGS INChistory →COM2.84%$5M230.9K
6CMACOMERICA INChistory →COM2.27%$4M77.0K
7NYCBEURNEW YORK CMNTY BANCORP INChistory →COM1.96%$4M363.0K
8THFFFIRST FINL CORP INDhistory →COM1.95%$4M85.6K
9NECBNORTHEAST CMNTY BANCORP INChistory →COM1.64%$3M174.8K
10FL8FLUSHING FINL CORPhistory →COM1.58%$3M181.6K
11NFBKNORTHFIELD BANCORP INC DELhistory →COM1.56%$3M234.4K
12BCALSOUTHERN CALIF BANCORPhistory →COM1.48%$3M161.4K
13OPBKOP BANCORPhistory →COM1.45%$3M250.3K
14RBBRBB BANCORPhistory →COM1.38%$3M137.1K
15PKBKPARKE BANCORP INChistory →COM1.35%$3M125.7K
16DCOMDIME CMNTY BANCSHARES INChistory →COM1.19%$2M83.3K
17TCBITEXAS CAPITAL BANCSHARES INChistory →COM1.18%$2M34.6K
18FT2FIRST HORIZON CORPORATIONhistory →COM1.17%$2M156.8K
19PCBPCB BANCORPhistory →COM1.03%$2M106.2K
20TCBXTHIRD COAST BANCSHARES INCCOM0.94%$2M89.3K
21HTBHOMETRUST BANCSHARES INCCOM0.85%$2M59.5K
22FRSTPRIMIS FINANCIAL CORPCOM0.82%$2M122.4K
23CODORUS VY BANCORP INCCOM0.81%$2M59.2K
24BCMLBAYCOM CORPCOM0.76%$1M61.2K
25PROVIDENT BANCORP INCCOM NEW0.73%$1M137.1K
26IBOCINTERNATIONAL BANCSHARES CORCOM0.72%$1M25.1K
27WF2WINTRUST FINL CORPCOM0.72%$1M14.6K
28MNSBMAINSTREET BANCSHARES INCCOM0.71%$1M53.9K
29CCNECNB FINL CORP PACOM0.69%$1M57.9K
30MACATAWA BK CORPCOM0.68%$1M113.4K
31ENTERPRISE BANCORP INC MASSCOM0.64%$1M37.3K
32PBFSPIONEER BANCORP INC MDCOM0.63%$1M119.3K
33CTBICOMMUNITY TR BANCORP INCCOM0.59%$1M25.6K
34BYBYLINE BANCORP INCCOM0.55%$1M43.8K
35CFGCITIZENS FINL GROUP INCCOM0.54%$1M30.6K
36SHBISHORE BANCSHARES INCCOM0.45%$850,65459.7K
37BWFGBANKWELL FINL GROUP INCCOM0.45%$846,12628.0K
38BFINUSDBANKFINANCIAL CORPCOM0.44%$830,82481.0K
39FSBWFS BANCORP INCCOM0.41%$766,29220.7K
40HTHHILLTOP HOLDINGS INCCOM0.39%$745,99421.2K
41HMN FINL INCCOM0.38%$721,53331.4K
42EFSCENTERPRISE FINL SVCS CORPCOM0.37%$692,20915.5K
43BWBBRIDGEWATER BANCSHARES INCCOM0.34%$650,74548.1K
44HBCPHOME BANCORP INCCOM0.34%$644,22315.3K
45BFSTBUSINESS FIRST BANCSHARES INCOM0.33%$618,32125.1K
46CFFIC & F FINL CORPCOM0.31%$583,6388.6K
47MPBMID PENN BANCORP INCCOM0.30%$576,38323.7K
48NSTSNSTS BANCORP INCCOM0.27%$502,03352.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2024$01Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$88M42May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023$189M62Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$121M65Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$143M71Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$215M111May 16, 202313F-HRchanges · EDGAR ↗
Q4 2022$227M116Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$240M122Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$247M119Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$297M141May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$294M135Feb 7, 202213F-HRchanges · EDGAR ↗
Q3 2021$294M135Nov 4, 202113F-HRchanges · EDGAR ↗
Q2 2021$269M127Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$315M134May 10, 202113F-HRchanges · EDGAR ↗
Q4 2020$296M140Feb 10, 202113F-HRchanges · EDGAR ↗
Q3 2020$236M140Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$254M138Aug 10, 202013F-HRchanges · EDGAR ↗
Q1 2020$266M142May 6, 202013F-HRchanges · EDGAR ↗
Q4 2019$426M148Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$413M139Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$417M147Aug 9, 201913F-HRchanges · EDGAR ↗
Q1 2019$399M138May 10, 201913F-HRchanges · EDGAR ↗
Q4 2018$379M131Feb 15, 2019RESTATEMENTchanges · 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 ↗.