Black Maple Capital Management LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Black Maple Capital Management LP reported 82 stock positions worth $149.1 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 21.0% of the portfolio, followed by Expand Energy (EXE, 7.8%) and Pinnacle Financial Partners (PNFP, 5.1%). Compared with Q1 2026, it opened 16 new positions, sold out of 14, added to 17 and reduced 19. The biggest buy was a new position in Truist Financial (TFC) and the biggest sale an exit from Bank of America (BAC).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001588959
- Portfolio Value
- $149.1M (Q2 2026)
- SEC Filing
- 0001214659-26-010360 ↗ filed Aug 14, 2026
Holdings Value
Holdings 82 stocks · $149.1M
| SPY SS SPDR S&P 500 ETF Trust-US | 21.04% | 42,006 | $31.4M | Add +1.3% |
| EXE Expand Energy Corp. | 7.80% | 127,578 | $11.6M | Add +86.5% |
| PNFP Pinnacle Financial Partners | 5.13% | 75,834 | $7.7M | Reduce -11.4% |
| HBAN Huntington Bancshares Inc. | 4.70% | 395,356 | $7.0M | Reduce -0.6% |
| ALK Alaska Air Group Inc. | 4.66% | 133,000 | $6.9M | Reduce -22.9% |
| TFC Truist Financial Corp. | 4.44% | 133,000 | $6.6M | New |
| AVGO Broadcom Inc. | 4.35% | 17,172 | $6.5M | Add +648.2% |
| RSP Invesco S&P 500 Equal Weight | 4.12% | 28,900 | $6.1M | Reduce -15.1% |
| UBER Uber Technologies Inc. | 3.47% | 71,642 | $5.2M | Add +37.5% |
| COF Capital One Financial Corp. | 2.44% | 18,100 | $3.6M | Add +40.3% |
| MSFT Microsoft Corp. | 2.42% | 9,656 | $3.6M | Add +35.9% |
| EWY iShares MSCI South Korea ETF | 2.23% | 16,500 | $3.3M | Reduce -8.3% |
| WAL Western Alliance Bancorp | 1.99% | 36,079 | $3.0M | Reduce -57.4% |
| FSUN Firstsun Capital Bancorp | 1.81% | 69,544 | $2.7M | Add +733.9% |
| WFC Wells Fargo & Co. | 1.77% | 32,000 | $2.6M | Add +276.5% |
| KCCA Kraneshares California Carbo | 1.60% | 140,517 | $2.4M | No change |
| FEZ State Street SPDR Euro Stoxx | 1.46% | 31,800 | $2.2M | No change |
| EWU iShares MSCI United Kingdom | 1.31% | 42,230 | $1.9M | Reduce -24.5% |
| EWJ iShares MSCI Japan ETF | 1.29% | 20,659 | $1.9M | No change |
| XLF SS Financial Select Sector | 1.26% | 35,000 | $1.9M | No change |
| DDI Doubledown Interactive -ADR | 1.20% | 155,556 | $1.8M | Reduce -3.8% |
| ORCL Oracle Corp. | 1.02% | 10,350 | $1.5M | No change |
| GOOGL Alphabet Inc. Class A | 0.91% | 3,800 | $1.4M | Add +8.6% |
| SMH Vaneck Semiconductor ETF | 0.88% | 2,000 | $1.3M | No change |
| LIEN Chicago Atlantic BDC Inc. | 0.86% | 130,920 | $1.3M | No change |
| AMZN Amazon.com Inc. | 0.83% | 5,163 | $1.2M | Add +60.3% |
| XLC SS Comm Select Sector SPDR | 0.79% | 10,970 | $1.2M | No change |
| FXI iShares China Large-Cap ETF | 0.72% | 34,000 | $1.1M | Add +54.5% |
| MDY State Street SPDR S&P Midcap | 0.71% | 1,500 | $1.1M | No change |
| INDA iShares MSCI India ETF | 0.67% | 20,300 | $1.0M | No change |
| SOC Sable Offshore Corp. | 0.61% | 296,112 | $912K | New |
| XLK SS Technology Select Sector | 0.58% | 4,520 | $861K | No change |
| BANC Banc of California Inc. | 0.50% | 36,584 | $747K | Reduce -85.3% |
| GOOG Alphabet Inc. Class C | 0.47% | 2,000 | $707K | New |
| LODE Comstock Inc. | 0.46% | 163,338 | $679K | Reduce -49.8% |
| XME SS SPDR S&P Metals Mining | 0.43% | 6,000 | $642K | No change |
| GDX Vaneck Gold Miners ETF | 0.43% | 8,500 | $641K | Add +13.3% |
| IBTI iShares Ibonds Dec 2028 Term | 0.40% | 27,250 | $603K | Add +17.2% |
| KRE SS SPDR S&P Regional Bank | 0.40% | 8,000 | $599K | No change |
| DUOT Duos Technologies Group Inc. | 0.32% | 39,168 | $470K | Reduce -38.5% |
| NXE Nexgen Energy Ltd. | 0.31% | 50,000 | $470K | No change |
| ELME Elme Communities | 0.31% | 314,632 | $466K | Add +16.8% |
| FNWD Finward Bancorp | 0.30% | 12,197 | $449K | Reduce -16.9% |
| IBTH iShares Ibonds Dec 2027 Term | 0.30% | 20,000 | $447K | No change |
| RYN Rayonier Inc. | 0.29% | 20,000 | $426K | No change |
| USB US Bancorp | 0.28% | 7,000 | $423K | Reduce -12.5% |
| CHCT Community Healthcare Trust I | 0.27% | 22,258 | $407K | No change |
| IBTJ iShares Ibonds Dec 2029 Term | 0.25% | 17,500 | $379K | No change |
| STHO Star Holdings filed as STAR HLDGS | 0.25% | 40,970 | $374K | No change |
| GLD SPDR Gold Shares | 0.25% | 1,000 | $368K | No change |
| EWP iShares MSCI Spain ETF | 0.24% | 6,000 | $356K | No change |
| GSBD Goldman Sachs BDC Inc. | 0.24% | 37,500 | $356K | Add +50.0% |
| NXPI NXP Semiconductors NV | 0.23% | 1,200 | $337K | New |
| MSOS Advisorshares Pure US Cann | 0.22% | 65,000 | $330K | No change |
| TSLA Tesla Inc. | 0.22% | 785 | $330K | No change |
| INR Infinity Natural Resour Class A | 0.21% | 24,194 | $307K | Reduce -21.2% |
| AFCG Advanced Flower Capital Inc. | 0.19% | 92,131 | $286K | Reduce -16.9% |
| C Citigroup Inc. | 0.19% | 2,000 | $280K | New |
| OSBC Old Second Bancorp Inc. | 0.19% | 12,000 | $280K | Reduce -69.4% |
| TSAT Telesat Corp. | 0.19% | 5,516 | $279K | New |
| BPRN Princeton Bancorp Inc. | 0.18% | 7,119 | $270K | Add +0.0% |
| KWEB Kranesh Csi China Internet | 0.18% | 11,000 | $269K | No change |
| SVC Service Pptys TR | 0.18% | 155,755 | $263K | New |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.18% | 5,000 | $262K | No change |
| OTF Blue Owl Technology Finance | 0.17% | 25,000 | $259K | New |
| CGBD Carlyle Secured Lending Inc. | 0.14% | 20,000 | $211K | New |
| OCSL Oaktree Specialty Lending Co. | 0.14% | 17,500 | $209K | Add +75.0% |
| ICMB Investcorp Credit Management | 0.14% | 172,630 | $202K | New |
| EBC Eastern Bankshares Inc. | 0.13% | 9,000 | $200K | New |
| PFLT Pennantpark Floating Rate Ca | 0.13% | 25,000 | $187K | New |
| EIDO iShares MSCI Indonesia ETF | 0.11% | 15,000 | $170K | New |
| LAR Lithium Argentina AG | 0.11% | 20,191 | $167K | No change |
| POET Poet Technologies Inc. | 0.11% | 16,000 | $164K | Reduce -64.8% |
| ARI Apollo Commercial Real Estat | 0.11% | 15,000 | $160K | New |
| ETHA iShares Ethereum Trust ETF | 0.10% | 13,000 | $155K | No change |
| MSDL Morgan Stanley Direct Lendin | 0.10% | 10,000 | $151K | No change |
| SGML Sigma Lithium Corp. | 0.10% | 11,786 | $149K | Reduce -17.5% |
| KD Kyndryl Holdings Inc. | 0.09% | 12,000 | $136K | No change |
| SLRC SLR Investment Corp. | 0.08% | 10,000 | $124K | New |
| BUR Burford Capital Ltd. | 0.06% | 20,000 | $82K | Reduce -48.3% |
| SITC Site Centers Corp. filed as SITE CTRS CORP | 0.04% | 15,000 | $60K | No change |
| EOSE Eos Energy Enterprises Inc. | 0.01% | 3,000 | $18K | New |
Options reported separately and not counted above: SPY puts ($12.5M), EWY puts ($3.0M), AVGO puts ($2.5M), MSFT puts ($2.4M), XLF puts ($1.9M), ORCL puts ($1.5M), SMH puts ($1.3M), MDY puts ($703K), XME puts ($642K), GDX puts ($490K), EOSE calls ($88K), ETHA puts ($65K).
Portfolio Sells Q1 2026 → Q2 2026
| BAC Bank of America Corp. | Sold out | 0.00% | −3.63 |
| BANC Banc of California Inc. | Reduce -85.3% | 0.50% | −2.87 |
| WAL Western Alliance Bancorp | Reduce -57.4% | 1.99% | −2.61 |
| SYF Synchrony Financial | Sold out | 0.00% | −1.65 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −0.98 |
| RSP Invesco S&P 500 Equal Weight | Reduce -15.1% | 4.12% | −0.90 |
| EWU iShares MSCI United Kingdom | Reduce -24.5% | 1.31% | −0.65 |
| LYFT LYFT Inc. Class A | Sold out | 0.00% | −0.59 |
| PNFP Pinnacle Financial Partners | Reduce -11.4% | 5.13% | −0.53 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −0.48 |
| OSBC Old Second Bancorp Inc. | Reduce -69.4% | 0.19% | −0.42 |
| ALRS Alerus Financial Corp. | Sold out | 0.00% | −0.36 |
| DOC Healthpeak Properties Inc. | Sold out | 0.00% | −0.32 |
| LODE Comstock Inc. | Reduce -49.8% | 0.46% | −0.31 |
| BUSE First Busey Corp. | Sold out | 0.00% | −0.30 |
| LNSR Lensar Inc. | Sold out | 0.00% | −0.25 |
| FVCB Fvcbankcorp Inc. | Sold out | 0.00% | −0.22 |
| ALK Alaska Air Group Inc. | Reduce -22.9% | 4.66% | −0.22 |
| INR Infinity Natural Resour Class A | Reduce -21.2% | 0.21% | −0.21 |
| FFBC First Financial Bancorp | Sold out | 0.00% | −0.18 |
| FNWD Finward Bancorp | Reduce -16.9% | 0.30% | −0.11 |
| POET Poet Technologies Inc. | Reduce -64.8% | 0.11% | −0.10 |
| SNFCA Security Natl Finl Corp. Class A | Sold out | 0.00% | −0.08 |
| BUR Burford Capital Ltd. | Reduce -48.3% | 0.06% | −0.08 |
| HBAN Huntington Bancshares Inc. | Reduce -0.6% | 4.70% | −0.08 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.05 |
| BITF Bitfarms Ltd./Canada | Sold out | 0.00% | −0.05 |
| AFCG Advanced Flower Capital Inc. | Reduce -16.9% | 0.19% | −0.05 |
| USB US Bancorp | Reduce -12.5% | 0.28% | −0.04 |
| SGML Sigma Lithium Corp. | Reduce -17.5% | 0.10% | −0.04 |
| DUOT Duos Technologies Group Inc. | Reduce -38.5% | 0.32% | −0.02 |
| DDI Doubledown Interactive -ADR | Reduce -3.8% | 1.20% | +0.15 |
| EWY iShares MSCI South Korea ETF | Reduce -8.3% | 2.23% | +0.53 |
Portfolio Buys Q1 2026 → Q2 2026
| TFC Truist Financial Corp. | New | 4.44% | +4.44 |
| AVGO Broadcom Inc. | Add +648.2% | 4.35% | +3.81 |
| EXE Expand Energy Corp. | Add +86.5% | 7.80% | +2.04 |
| FSUN Firstsun Capital Bancorp | Add +733.9% | 1.81% | +1.58 |
| WFC Wells Fargo & Co. | Add +276.5% | 1.77% | +1.25 |
| COF Capital One Financial Corp. | Add +40.3% | 2.44% | +0.63 |
| SOC Sable Offshore Corp. | New | 0.61% | +0.61 |
| UBER Uber Technologies Inc. | Add +37.5% | 3.47% | +0.59 |
| GOOG Alphabet Inc. Class C | New | 0.47% | +0.47 |
| MSFT Microsoft Corp. | Add +35.9% | 2.42% | +0.40 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.3% | 21.04% | +0.32 |
| AMZN Amazon.com Inc. | Add +60.3% | 0.83% | +0.31 |
| NXPI NXP Semiconductors NV | New | 0.23% | +0.23 |
| C Citigroup Inc. | New | 0.19% | +0.19 |
| TSAT Telesat Corp. | New | 0.19% | +0.19 |
| SVC Service Pptys TR | New | 0.18% | +0.18 |
| OTF Blue Owl Technology Finance | New | 0.17% | +0.17 |
| CGBD Carlyle Secured Lending Inc. | New | 0.14% | +0.14 |
| GOOGL Alphabet Inc. Class A | Add +8.6% | 0.91% | +0.14 |
| ICMB Investcorp Credit Management | New | 0.14% | +0.14 |
| EBC Eastern Bankshares Inc. | New | 0.13% | +0.13 |
| PFLT Pennantpark Floating Rate Ca | New | 0.13% | +0.13 |
| EIDO iShares MSCI Indonesia ETF | New | 0.11% | +0.11 |
| FXI iShares China Large-Cap ETF | Add +54.5% | 0.72% | +0.11 |
| ARI Apollo Commercial Real Estat | New | 0.11% | +0.11 |
| SLRC SLR Investment Corp. | New | 0.08% | +0.08 |
| GSBD Goldman Sachs BDC Inc. | Add +50.0% | 0.24% | +0.07 |
| OCSL Oaktree Specialty Lending Co. | Add +75.0% | 0.14% | +0.05 |
| EOSE Eos Energy Enterprises Inc. | New | 0.01% | +0.01 |
| IBTI iShares Ibonds Dec 2028 Term | Add +17.2% | 0.40% | +0.01 |
| BPRN Princeton Bancorp Inc. | Add +0.0% | 0.18% | −0.00 |
| GDX Vaneck Gold Miners ETF | Add +13.3% | 0.43% | −0.10 |
| ELME Elme Communities | Add +16.8% | 0.31% | −0.10 |
Options Activity Q1 2026 → Q2 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -65.0% | 16,700 | $12.5M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | Sold out | 50,000 | $4.0Mbefore exit |
| AVGO Broadcom Inc. | put | New | 6,500 | $2.5M |
| AEM Agnico Eagle Mines Ltd. | call | Sold out | 5,000 | $1.0Mbefore exit |
| XHB SS SPDR S&P Homebldrs ETF | call | Sold out | 10,000 | $987Kbefore exit |
| MU Micron Technology Inc. | call | Sold out | 2,500 | $845Kbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Sold out | 1,000 | $650Kbefore exit |
| UBER Uber Technologies Inc. | call | Sold out | 5,000 | $360Kbefore exit |
| BANC Banc of California Inc. | call | Sold out | 8,900 | $156Kbefore exit |
| META Meta Platforms Inc. Class A | put | Sold out | 200 | $114Kbefore exit |
| EOSE Eos Energy Enterprises Inc. | call | New | 15,000 | $88K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 82 | $149.1M | SPY, EXE, PNFP, HBAN, ALK |
| Q1 2026 | 80 | $130.2M | SPY, EXE, PNFP, RSP, ALK |
| Q4 2025 | 81 | $133.8M | SPY, WAL, PNFP, HBAN, RSP |
| Q3 2025 | 76 | $138.0M | SPY, AR, PNFP, RSP, USB |
| Q2 2025 | 85 | $144.5M | SPY, IEI, AR, BANC, IEF |
| Q1 2025 | 81 | $127.3M | SPY, WAL, DAL, BANC, IEF |
| Q4 2024 | 80 | $131.3M | SPY, WAL, BANC, KEY, OZK |
| Q3 2024 | 82 | $132.8M | SPY, WFC, BANC, FHN, RSP |
| Q2 2024 | 86 | $136.1M | SPY, CMA, BANC, APA, CIVI |
| Q1 2024 | 99 | $150.0M | SPY, EQT, BANC, FITB, USB |