# BHZ CAPITAL MANAGEMENT, LP

> Institutional holdings reported to the SEC as of Q1 2024 on Form 13F. CIK 1618872. Source: https://holderbook.com/funds/1618872-bhz-capital-management-lp/

- Reported value: $88.0M
- Positions: 42
- Weight of the ten largest: 69.4%
- Filed: 2024-05-13

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 |
|---|---|---|---|---|---|
| SELECT SECTOR SPDR TR | [XLF](https://holderbook.com/stocks/XLF/) | $23.3M | 0 | 26.5% | 11 |
| FIRST CTZNS BANCSHARES INC D | [FCNCA](https://holderbook.com/stocks/FCNCA/) | $6.2M | 3,778 | 7.0% | 4 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $5.3M | 347,123 | 6.0% | 11 |
| FIRST FNDTN INC | [FFWM](https://holderbook.com/stocks/FFWM/) | $4.7M | 627,068 | 5.4% | 7 |
| EAGLE BANCORPORATION INC | [EGBN](https://holderbook.com/stocks/EGBN/) | $4.6M | 197,610 | 5.3% | 7 |
| COMERICA INC | [CMA](https://holderbook.com/stocks/CMA/) | $4.2M | 76,951 | 4.8% | 4 |
| VERITEX HLDGS INC | [VBTX](https://holderbook.com/stocks/VBTX/) | $4.0M | 195,292 | 4.5% | 5 |
| NEW YORK CMNTY BANCORP INC | [NYCBXXXX](https://holderbook.com/stocks/NYCBXXXX/) | $3.2M | 994,754 | 3.6% | 4 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $3.0M | 0 | 3.4% | 2 |
| FIRST HORIZON CORPORATION | [FHN](https://holderbook.com/stocks/FHN/) | $2.4M | 156,842 | 2.7% | 4 |
| FIRST FINANCIAL CORPORATION | [THFF](https://holderbook.com/stocks/THFF/) | $2.0M | 52,093 | 2.3% | 19 |
| NORTHEAST CMNTY BANCORP INC | [NECB](https://holderbook.com/stocks/NECB/) | $1.9M | 123,675 | 2.2% | 6 |
| NORTHFIELD BANCORP INC DEL | [NFBK](https://holderbook.com/stocks/NFBK/) | $1.8M | 189,854 | 2.1% | 9 |
| FLUSHING FINL CORP | [FFIC](https://holderbook.com/stocks/FFIC/) | $1.8M | 140,858 | 2.0% | 22 |
| OP BANCORP | [OPBK](https://holderbook.com/stocks/OPBK/) | $1.6M | 162,567 | 1.8% | 22 |
| TEXAS CAP BANCSHARES INC | [TCBI](https://holderbook.com/stocks/TCBI/) | $1.4M | 22,669 | 1.6% | 22 |
| PARKE BANCORP INC | [PKBK](https://holderbook.com/stocks/PKBK/) | $1.4M | 80,367 | 1.6% | 22 |
| RBB BANCORP | [RBB](https://holderbook.com/stocks/RBB/) | $1.4M | 75,568 | 1.5% | 22 |
| PCB BANCORP | [PCB](https://holderbook.com/stocks/PCB/) | $1.2M | 71,559 | 1.3% | 19 |
| PRIMIS FINANCIAL CORP | [FRST](https://holderbook.com/stocks/FRST/) | $1.2M | 95,289 | 1.3% | 10 |
| CITIZENS FINL GROUP INC | [CFG](https://holderbook.com/stocks/CFG/) | $1.1M | 30,610 | 1.3% | 5 |
| CODORUS VY BANCORP INC | [CVLY](https://holderbook.com/stocks/CVLY/) | $987.5K | 43,387 | 1.1% | 22 |
| HOMETRUST BANCSHARES INC | [HTB](https://holderbook.com/stocks/HTB/) | $913.2K | 33,402 | 1.0% | 5 |
| CNB FINL CORP PA | [CCNE](https://holderbook.com/stocks/CCNE/) | $905.9K | 44,427 | 1.0% | 12 |
| BYLINE BANCORP INC | [BY](https://holderbook.com/stocks/BY/) | $757.1K | 34,859 | 0.9% | 7 |
| DIME COML BANCSHARES INC | [DCOM](https://holderbook.com/stocks/DCOM/) | $748.9K | 38,886 | 0.9% | 9 |
| PIONEER BANCORP INC MD | [PBFS](https://holderbook.com/stocks/PBFS/) | $709.1K | 72,281 | 0.8% | 10 |
| MACATAWA BK CORP | [MCBC](https://holderbook.com/stocks/MCBC/) | $662.6K | 67,682 | 0.8% | 17 |
| COMMUNITY TR BANCORP INC | [CTBI](https://holderbook.com/stocks/CTBI/) | $550.4K | 12,905 | 0.6% | 4 |
| ENTERPRISE BANCORP INC MASS | [EBTC](https://holderbook.com/stocks/EBTC/) | $539.3K | 20,766 | 0.6% | 22 |
| MAINSTREET BANCSHARES INC | [MNSB](https://holderbook.com/stocks/MNSB/) | $509.5K | 28,054 | 0.6% | 16 |
| C & F FINL CORP | [CFFI](https://holderbook.com/stocks/CFFI/) | $412.6K | 8,421 | 0.5% | 22 |
| PROVIDENT BANCORP INC | [PVBC](https://holderbook.com/stocks/PVBC/) | $409.7K | 45,025 | 0.5% | 6 |
| HMN FINL INC | [HMNF](https://holderbook.com/stocks/HMNF/) | $376.7K | 17,851 | 0.4% | 22 |
| FS BANCORP INC | [FSBW](https://holderbook.com/stocks/FSBW/) | $337.3K | 9,719 | 0.4% | 22 |
| MID PENN BANCORP INC | [MPB](https://holderbook.com/stocks/MPB/) | $289.2K | 14,451 | 0.3% | 3 |
| WATERSTONE FINL INC MD | [WSBF](https://holderbook.com/stocks/WSBF/) | $262.5K | 21,568 | 0.3% | 2 |
| SHORE BANCSHARES INC | [SHBI](https://holderbook.com/stocks/SHBI/) | $202.0K | 17,568 | 0.2% | 3 |
| RHINEBECK BANCORP INC | [RBKB](https://holderbook.com/stocks/RBKB/) | $169.2K | 20,026 | 0.2% | 10 |
| HANMI FINL CORP | [HAFC](https://holderbook.com/stocks/HAFC/) | $166.2K | 10,442 | 0.2% | 1 |
| BANK OF THE JAMES FINL GP IN | [BOTJ](https://holderbook.com/stocks/BOTJ/) | $137.3K | 13,255 | 0.2% | 2 |
| BV FINL INC | [BVFL](https://holderbook.com/stocks/BVFL/) | $111.6K | 10,799 | 0.1% | 2 |

## 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 |
|---|---|---|---|---|
| Q1 2024 | -10.2% | +10.0% | -20.3% | 100% |
| Q4 2023 | +24.1% | +11.2% | +12.9% | 100% |
| Q3 2023 | +2.9% | -3.6% | +6.4% | 97% |
| Q2 2023 | -8.2% | +8.3% | -16.5% | 99% |
| Q1 2023 | -19.1% | +7.0% | -26.1% | 93% |
| Q4 2022 | +5.6% | +7.1% | -1.4% | 101% |
| Q3 2022 | -1.8% | -5.3% | +3.5% | 101% |
| Q2 2022 | -9.8% | -16.5% | +6.7% | 98% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q1 2024 | $88.0M | 42 |
| Q4 2023 | $189.1M | 62 |
| Q3 2023 | $120.9M | 65 |
| Q2 2023 | $142.6M | 71 |
| Q1 2023 | $215.5M | 111 |
| Q4 2022 | $227.4M | 116 |
| Q3 2022 | $240.0M | 122 |
| Q2 2022 | $247.2M | 119 |
| Q1 2022 | $296.8M | 141 |
| Q4 2021 | $294.2M | 135 |
| Q3 2021 | $294.0M | 135 |
| Q2 2021 | $269.0M | 127 |