# Black Maple Capital Management LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1588959. Source: https://holderbook.com/funds/1588959-black-maple-capital-management-lp/

- Reported value: $176.1M
- Positions: 82
- Weight of the ten largest: 63.1%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $43.8M | 42,006 | 24.9% | 19 |
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $11.6M | 127,578 | 6.6% | 2 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $8.9M | 17,172 | 5.1% | 2 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $7.7M | 75,834 | 4.3% | 2 |
| HUNTINGTON BANCSHARES INC | [HBAN](https://holderbook.com/stocks/HBAN/) | $7.0M | 395,356 | 4.0% | 4 |
| ALASKA AIR GROUP INC | [ALK](https://holderbook.com/stocks/ALK/) | $6.9M | 133,000 | 3.9% | 3 |
| TRUIST FINL CORP | [TFC](https://holderbook.com/stocks/TFC/) | $6.6M | 133,000 | 3.8% | 1 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $6.4M | 16,500 | 3.6% | 2 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $6.1M | 28,900 | 3.5% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $6.0M | 9,656 | 3.4% | 2 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $5.2M | 71,642 | 2.9% | 5 |
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $3.8M | 35,000 | 2.1% | 2 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $3.6M | 18,100 | 2.1% | 2 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $3.0M | 10,350 | 1.7% | 2 |
| WESTERN ALLIANCE BANCORP | [WAL](https://holderbook.com/stocks/WAL/) | $3.0M | 36,079 | 1.7% | 10 |
| FIRSTSUN CAP BANCORP | [FSUN](https://holderbook.com/stocks/FSUN/) | $2.7M | 69,544 | 1.5% | 3 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $2.6M | 32,000 | 1.5% | 2 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $2.6M | 2,000 | 1.5% | 2 |
| KRANESHARES TRUST | [KCCA](https://holderbook.com/stocks/KCCA/) | $2.4M | 140,517 | 1.4% | 5 |
| SPDR INDEX SHS FDS | [FEZ](https://holderbook.com/stocks/FEZ/) | $2.2M | 31,800 | 1.2% | 11 |
| ISHARES TR | [EWU](https://holderbook.com/stocks/EWU/) | $1.9M | 42,230 | 1.1% | 14 |
| ISHARES INC | [EWJ](https://holderbook.com/stocks/EWJ/) | $1.9M | 20,659 | 1.1% | 16 |
| DOUBLEDOWN INTERACTIVE CO LT | [DDI](https://holderbook.com/stocks/DDI/) | $1.8M | 155,556 | 1.0% | 5 |
| STATE STR SPDR S&P MIDCAP 40 | [MDY](https://holderbook.com/stocks/MDY/) | $1.8M | 1,500 | 1.0% | 7 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.4M | 3,800 | 0.8% | 6 |
| SPDR SERIES TRUST | [XME](https://holderbook.com/stocks/XME/) | $1.3M | 6,000 | 0.7% | 18 |
| CHICAGO ATLANTIC BDC INC | [LIEN](https://holderbook.com/stocks/LIEN/) | $1.3M | 130,920 | 0.7% | 5 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.2M | 5,163 | 0.7% | 3 |
| SELECT SECTOR SPDR TR | [XLC](https://holderbook.com/stocks/XLC/) | $1.2M | 10,970 | 0.7% | 15 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $1.1M | 8,500 | 0.6% | 2 |
| ISHARES TR | [FXI](https://holderbook.com/stocks/FXI/) | $1.1M | 34,000 | 0.6% | 2 |
| ISHARES TR | [INDA](https://holderbook.com/stocks/INDA/) | $1.0M | 20,300 | 0.6% | 11 |
| SABLE OFFSHORE CORP | [SOC](https://holderbook.com/stocks/SOC/) | $912.0K | 296,112 | 0.5% | 1 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $861.1K | 4,520 | 0.5% | 15 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $747.4K | 36,584 | 0.4% | 13 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $706.7K | 2,000 | 0.4% | 1 |
| COMSTOCK INC | [LODE](https://holderbook.com/stocks/LODE/) | $679.5K | 163,338 | 0.4% | 2 |
| ISHARES TR | [IBTI](https://holderbook.com/stocks/IBTI/) | $603.3K | 27,250 | 0.3% | 5 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $598.8K | 8,000 | 0.3% | 14 |
| DUOS TECHNOLOGIES GROUP INC | [DUOT](https://holderbook.com/stocks/DUOT/) | $470.0K | 39,168 | 0.3% | 2 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $469.5K | 50,000 | 0.3% | 14 |
| ELME COMMUNITIES | [ELME](https://holderbook.com/stocks/ELME/) | $465.7K | 314,632 | 0.3% | 2 |
| FINWARD BANCORP | [FNWD](https://holderbook.com/stocks/FNWD/) | $448.6K | 12,197 | 0.3% | 10 |
| ISHARES TR | [IBTH](https://holderbook.com/stocks/IBTH/) | $447.4K | 20,000 | 0.3% | 5 |
| RAYONIER INC | [RYN](https://holderbook.com/stocks/RYN/) | $425.6K | 20,000 | 0.2% | 2 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $422.8K | 7,000 | 0.2% | 6 |
| COMMUNITY HEALTHCARE TR INC | [CHCT](https://holderbook.com/stocks/CHCT/) | $406.9K | 22,258 | 0.2% | 3 |
| ISHARES TR | [IBTJ](https://holderbook.com/stocks/IBTJ/) | $378.9K | 17,500 | 0.2% | 4 |
| STAR HLDGS | [STHO](https://holderbook.com/stocks/STHO/) | $374.1K | 40,970 | 0.2% | 4 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $368.4K | 1,000 | 0.2% | 4 |
| ISHARES INC | [EWP](https://holderbook.com/stocks/EWP/) | $356.3K | 6,000 | 0.2% | 10 |
| GOLDMAN SACHS BDC INC | [GSBD](https://holderbook.com/stocks/GSBD/) | $355.5K | 37,500 | 0.2% | 3 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $337.2K | 1,200 | 0.2% | 1 |
| ADVISORSHARES TR | [MSOS](https://holderbook.com/stocks/MSOS/) | $330.2K | 65,000 | 0.2% | 8 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $330.2K | 785 | 0.2% | 3 |
| INFINITY NAT RES INC | [INR](https://holderbook.com/stocks/INR/) | $307.3K | 24,194 | 0.2% | 3 |
| ADVANCED FLOWER CAP INC | [AFCG](https://holderbook.com/stocks/AFCG/) | $285.6K | 92,131 | 0.2% | 2 |
| CITIGROUP INC | [C](https://holderbook.com/stocks/C/) | $279.9K | 2,000 | 0.2% | 1 |
| OLD SECOND BANCORP INC DEL | [OSBC](https://holderbook.com/stocks/OSBC/) | $279.8K | 12,000 | 0.2% | 14 |
| TELESAT CORP | [TSAT](https://holderbook.com/stocks/TSAT/) | $279.2K | 5,516 | 0.2% | 1 |
| PRINCETON BANCORP INC | [BPRN](https://holderbook.com/stocks/BPRN/) | $270.2K | 7,119 | 0.2% | 2 |
| KRANESHARES TRUST | [KWEB](https://holderbook.com/stocks/KWEB/) | $269.2K | 11,000 | 0.2% | 3 |
| SERVICE PPTYS TR | [SVC](https://holderbook.com/stocks/SVC/) | $263.2K | 155,755 | 0.1% | 1 |
| ISHARES TR | [IGSB](https://holderbook.com/stocks/IGSB/) | $262.1K | 5,000 | 0.1% | 15 |
| BLUE OWL TECHNOLOGY FIN CORP | [OTF](https://holderbook.com/stocks/OTF/) | $258.8K | 25,000 | 0.1% | 1 |
| ISHARES ETHEREUM TR | [ETHA](https://holderbook.com/stocks/ETHA/) | $220.0K | 13,000 | 0.1% | 2 |
| CARLYLE SECURED LENDING INC | [CGBD](https://holderbook.com/stocks/CGBD/) | $210.6K | 20,000 | 0.1% | 1 |
| OAKTREE SPECIALTY LENDING | [OCSL](https://holderbook.com/stocks/OCSL/) | $208.9K | 17,500 | 0.1% | 2 |
| INVESTCORP CR MGMT BDC INC | [ICMB](https://holderbook.com/stocks/ICMB/) | $202.0K | 172,630 | 0.1% | 1 |
| EASTERN BANKSHARES INC | [EBC](https://holderbook.com/stocks/EBC/) | $200.2K | 9,000 | 0.1% | 1 |
| PENNANTPARK FLOATING RATE CA | [PFLT](https://holderbook.com/stocks/PFLT/) | $187.0K | 25,000 | 0.1% | 1 |
| ISHARES TR | [EIDO](https://holderbook.com/stocks/EIDO/) | $169.7K | 15,000 | 0.1% | 1 |
| LITHIUM ARGENTINA AG | [LAR](https://holderbook.com/stocks/LAR/) | $167.0K | 20,191 | 0.1% | 6 |
| POET TECHNOLOGIES INC | [POET](https://holderbook.com/stocks/POET/) | $164.5K | 16,000 | 0.1% | 2 |
| APOLLO COML REAL ESTATE FIN | [ARI](https://holderbook.com/stocks/ARI/) | $160.2K | 15,000 | 0.1% | 1 |
| MORGAN STANLEY DIRECT LENDIN | [MSDL](https://holderbook.com/stocks/MSDL/) | $151.2K | 10,000 | 0.1% | 2 |
| SIGMA LITHIUM CORPORATION | [SGML](https://holderbook.com/stocks/SGML/) | $149.1K | 11,786 | 0.1% | 12 |
| KYNDRYL HLDGS INC | [KD](https://holderbook.com/stocks/KD/) | $135.7K | 12,000 | 0.1% | 2 |
| SLR INVESTMENT CORP | [SLRC](https://holderbook.com/stocks/SLRC/) | $123.7K | 10,000 | 0.1% | 1 |
| EOS ENERGY ENTERPRISES INC | [EOSE](https://holderbook.com/stocks/EOSE/) | $105.8K | 3,000 | 0.1% | 1 |
| BURFORD CAPITAL LIMITED | [BUR](https://holderbook.com/stocks/BUR/) | $82.0K | 20,000 | 0.0% | 13 |
| SITE CTRS CORP | [SITC](https://holderbook.com/stocks/SITC/) | $59.5K | 15,000 | 0.0% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +14.0% | +14.8% | -0.9% | 75% |
| Q1 2026 | -3.2% | -4.6% | +1.5% | 92% |
| Q4 2025 | +3.5% | +2.4% | +1.1% | 66% |
| Q3 2025 | +6.8% | +7.8% | -1.0% | 64% |
| Q2 2025 | +5.5% | +10.5% | -5.0% | 70% |
| Q1 2025 | -2.7% | -4.6% | +1.9% | 69% |
| Q4 2024 | +3.6% | +2.1% | +1.4% | 89% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 89% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $176.1M | 82 |
| Q1 2026 | $179.5M | 83 |
| Q4 2025 | $142.9M | 81 |
| Q3 2025 | $206.4M | 80 |
| Q2 2025 | $222.7M | 87 |
| Q1 2025 | $179.0M | 83 |
| Q4 2024 | $190.2M | 82 |
| Q3 2024 | $150.9M | 85 |
| Q2 2024 | $153.0M | 87 |
| Q1 2024 | $163.3M | 100 |
| Q4 2023 | $120.5M | 86 |
| Q3 2023 | $147.4M | 99 |