Black Maple Capital Management LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Black Maple Capital Management LP reported 86 stock positions worth $136.1 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 15.3% of the portfolio, followed by Comerica (CMA, 6.3%) and Banc of California (BANC, 5.4%). Compared with Q1 2024, it opened 21 new positions, sold out of 34, added to 27 and reduced 16. The biggest buy was Civitas Resources (CIVI, shares +236%) and the biggest sale an exit from Fifth Third Bancorp (FITB).
- Most Recent 13F
- Q2 2026
- Location
- MILWAUKEE, WI
- CIK
- 0001588959
- Portfolio Value
- $136.1M (Q2 2024)
- SEC Filing
- 0001214659-24-014666 ↗ filed Aug 14, 2024
Holdings Value
Holdings 86 stocks · $136.1M
| SPY SS SPDR S&P 500 ETF Trust-US | 15.31% | 38,295 | $20.8M | Reduce -2.5% |
| CMA Comerica Inc. | 6.29% | 167,871 | $8.6M | Add +52.8% |
| BANC Banc of California Inc. | 5.45% | 580,300 | $7.4M | Add +25.5% |
| APA Apa Corp. | 4.94% | 228,330 | $6.7M | Add +117.7% |
| CIVI Civitas Resources Inc. | 4.79% | 94,544 | $6.5M | Add +235.9% |
| KEY Keycorp | 4.37% | 418,922 | $6.0M | Add +262.1% |
| RSP Invesco S&P 500 Equal Weight | 4.16% | 34,500 | $5.7M | Add +22.8% |
| WAL Western Alliance Bancorp | 4.01% | 86,880 | $5.5M | Add +38.8% |
| KOS Kosmos Energy Ltd. | 3.48% | 856,095 | $4.7M | Add +1.3% |
| IEF iShares 7-10 Year Treasury B | 2.89% | 42,000 | $3.9M | Add +21.7% |
| EQT Eqt Corp. | 2.47% | 90,966 | $3.4M | Reduce -59.3% |
| FFNW First Financial Northwest | 2.20% | 141,577 | $3.0M | Reduce -0.1% |
| BFIN Bankfinancial Corp. | 2.17% | 286,557 | $2.9M | Add +1.4% |
| IEI iShares 3-7 Year Treasury Bo | 2.05% | 24,200 | $2.8M | New |
| TLT iShares 20+ Year Treasury BD | 1.96% | 29,000 | $2.7M | Add +87.1% |
| EWJ iShares MSCI Japan ETF | 1.93% | 38,509 | $2.6M | Add +3.1% |
| BUR Burford Capital Ltd. | 1.72% | 179,124 | $2.3M | Add +115.9% |
| EWY iShares MSCI South Korea ETF | 1.52% | 31,300 | $2.1M | Add +69.2% |
| CAR Avis Budget Group Inc. | 1.23% | 16,000 | $1.7M | Reduce -3.6% |
| ETRN Equitrans Midstream Corp. | 1.17% | 122,784 | $1.6M | New |
| FEZ State Street SPDR Euro Stoxx | 1.17% | 31,800 | $1.6M | No change |
| META Meta Platforms Inc. Class A | 0.93% | 2,500 | $1.3M | New |
| HTBK Heritage Commerce Corp. | 0.93% | 144,781 | $1.3M | Add +29.1% |
| XME SS SPDR S&P Metals Mining | 0.92% | 21,000 | $1.2M | No change |
| EIDO iShares MSCI Indonesia ETF | 0.91% | 64,604 | $1.2M | Add +115.3% |
| INDA iShares MSCI India ETF | 0.90% | 22,000 | $1.2M | Add +15.8% |
| EWG iShares MSCI Germany ETF | 0.79% | 35,000 | $1.1M | No change |
| FXI iShares China Large-Cap ETF | 0.78% | 41,100 | $1.1M | Reduce -11.0% |
| FCX Freeport-McMoran Inc. | 0.77% | 21,600 | $1.0M | No change |
| EWU iShares MSCI United Kingdom | 0.75% | 29,210 | $1.0M | Add +34.5% |
| OVV Ovintiv Inc. | 0.74% | 21,491 | $1.0M | New |
| EVBN Evans Bancorp Inc. | 0.73% | 35,563 | $1000K | No change |
| XLC SS Comm Select Sector SPDR | 0.69% | 10,970 | $940K | Reduce -0.9% |
| ALK Alaska Air Group Inc. | 0.67% | 22,686 | $917K | No change |
| RF Regions Financial Corp. | 0.66% | 44,564 | $893K | New |
| BCOW 1895 Bancorp of Wisconsin Inc. | 0.62% | 102,757 | $841K | Add +18.5% |
| EWW iShares MSCI Mexico ETF | 0.58% | 14,000 | $793K | New |
| OSBC Old Second Bancorp Inc. | 0.55% | 50,436 | $747K | No change |
| WFC Wells Fargo & Co. | 0.52% | 12,000 | $713K | Reduce -14.3% |
| HBNC Horizon Bancorp Inc. | 0.50% | 55,268 | $684K | Add +33.6% |
| CTRA Coterra Energy Inc. | 0.49% | 25,000 | $667K | New |
| BMY Bristol-Myers Squibb Co. | 0.49% | 16,000 | $664K | No change |
| FNWD Finward Bancorp | 0.48% | 26,875 | $659K | Add +8.0% |
| EWP iShares MSCI Spain ETF | 0.46% | 20,000 | $625K | No change |
| KRE SS SPDR S&P Regional Bank | 0.41% | 11,500 | $565K | Add +53.3% |
| ADBE Adobe Inc. | 0.41% | 1,000 | $556K | New |
| BANR Banner Corporation | 0.40% | 11,000 | $546K | Reduce -20.0% |
| XLK SS Technology Select Sector | 0.38% | 2,260 | $511K | No change |
| TALO Talos Energy Inc. | 0.37% | 41,000 | $498K | New |
| SHBI Shore Bancshares Inc. | 0.35% | 41,612 | $476K | Add +38.6% |
| INTC Intel Corp. | 0.34% | 15,000 | $465K | New |
| CWBC Community West Bancshares | 0.33% | 24,182 | $447K | New |
| OLK Olink Holding AB - ADR | 0.33% | 17,531 | $447K | New |
| M Macy's Inc. | 0.32% | 23,000 | $442K | New |
| CARE Carter Bankshares Inc. | 0.31% | 27,823 | $421K | Add +20.2% |
| UMBF Umb Financial Corp. | 0.31% | 5,000 | $417K | New |
| TECK Teck Resources Ltd.-CLS B | 0.30% | 8,500 | $407K | No change |
| XLE SS Energy Select Sector | 0.29% | 4,260 | $388K | No change |
| DHC Diversified Healthcare Trust | 0.23% | 104,603 | $319K | Add +4.6% |
| S Sentinelone Inc. Class A | 0.23% | 15,000 | $316K | New |
| UTI Universal Technical Institut | 0.22% | 19,250 | $303K | Reduce -14.4% |
| XOP SS SPDR S&P Og Exp & Prod | 0.21% | 2,000 | $291K | New |
| EOSE Eos Energy Enterprises Inc. | 0.20% | 215,000 | $273K | Add +18.6% |
| RRC Range Resources Corp. | 0.20% | 8,099 | $272K | New |
| KWEB Kranesh Csi China Internet | 0.19% | 9,700 | $262K | No change |
| THFF First Financial Corp. | 0.19% | 7,000 | $258K | Reduce -18.6% |
| IGSB iShares 1-5Y Inv Grade Corp. | 0.19% | 5,000 | $256K | No change |
| HONE Harborone Bancorp Inc. | 0.18% | 22,489 | $250K | No change |
| SSYS Stratasys Ltd. | 0.18% | 29,000 | $243K | No change |
| SDPI Superior Drilling Products I | 0.17% | 177,010 | $230K | Add +4.5% |
| COP Conocophillips | 0.17% | 2,000 | $229K | No change |
| PPTA Perpetua Resources Corp. | 0.17% | 43,337 | $225K | Reduce -69.6% |
| URGENTLY INC | 0.16% | 122,965 | $212K | Reduce -0.2% |
| EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP | 0.15% | 2,500 | $205K | New |
| CNOB Connectone Bancorp Inc. | 0.15% | 10,600 | $200K | New |
| SDHY Pgim SHRT Durat Hi YLD | 0.15% | 13,000 | $199K | New |
| PROV Provident Financial Hldgs | 0.13% | 14,519 | $181K | No change |
| NXE Nexgen Energy Ltd. | 0.13% | 25,000 | $175K | Reduce -26.5% |
| PVBC Provident Bancorp Inc. | 0.10% | 13,964 | $142K | Reduce -45.9% |
| SGML Sigma Lithium Corp. | 0.09% | 10,000 | $120K | No change |
| RDNW Ridenow Group Inc. filed as RUMBLEON INC | 0.08% | 26,809 | $110K | No change |
| ALTG Alta Equipment Group Inc. | 0.06% | 10,000 | $80K | New |
| LAR Lithium Americas Argentina C | 0.05% | 20,000 | $64K | No change |
| LAC Lithium Americas Corp. | 0.02% | 10,000 | $27K | No change |
| ALTISOURCE PORTFOLIO SOLNS S | 0.02% | 17,931 | $25K | Reduce -55.6% |
| SEQUANS COMMUNICATIONS S A | 0.01% | 29,695 | $15K | Reduce -9.7% |
Options reported separately and not counted above: SPY puts ($13.1M), RSP puts ($1.2M), USO puts ($995K), CMA calls ($510K), S puts ($316K), INDA puts ($279K), ADBE calls ($278K), KRE puts ($123K), EIDO calls ($96K).
Portfolio Sells Q1 2024 → Q2 2024
| FITB Fifth Third Bancorp | Sold out | 0.00% | −4.62 |
| USB US Bancorp | Sold out | 0.00% | −4.13 |
| EOG EOG Resources Inc. | Sold out | 0.00% | −3.96 |
| EQT Eqt Corp. | Reduce -59.3% | 2.47% | −3.05 |
| CPE Callon Petroleum Co. | Sold out | 0.00% | −2.87 |
| HOLI Hollysys Automation Technolo | Sold out | 0.00% | −1.37 |
| PNC PNC Financial Services Group | Sold out | 0.00% | −1.25 |
| GLD SPDR Gold Shares | Sold out | 0.00% | −1.10 |
| CMBT CMB Tech NV | Sold out | 0.00% | −0.93 |
| MRO Marathon Oil Corp. | Sold out | 0.00% | −0.90 |
| GTH Genetron Holdings Ltd.-ADR | Sold out | 0.00% | −0.79 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.70 |
| PEBO Peoples Bancorp Inc. | Sold out | 0.00% | −0.64 |
| CPRI Capri Holdings Ltd. | Sold out | 0.00% | −0.54 |
| NGMS Neogames SA | Sold out | 0.00% | −0.50 |
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −0.50 |
| HTLF Heartland Financial USA Inc. | Sold out | 0.00% | −0.46 |
| CERE Cerevel Therapeutics Holding | Sold out | 0.00% | −0.44 |
| MBIN Merchants Bancorp | Sold out | 0.00% | −0.41 |
| INHIBRX INC | Sold out | 0.00% | −0.37 |
| FHN First Horizon Corp. | Sold out | 0.00% | −0.33 |
| CWBC Community West Bancshares | Sold out | 0.00% | −0.33 |
| PGY Pagaya Technologies Ltd. Class A | Sold out | 0.00% | −0.29 |
| BHB Bar Harbor Bankshares | Sold out | 0.00% | −0.27 |
| LBAI Lakeland Bancorp Inc. | Sold out | 0.00% | −0.25 |
| PPTA Perpetua Resources Corp. | Reduce -69.6% | 0.17% | −0.23 |
| TGAN Transphorm Inc. | Sold out | 0.00% | −0.21 |
| LSEA Landsea Homes Corp. | Sold out | 0.00% | −0.21 |
| THD iShares MSCI Thailand ETF | Sold out | 0.00% | −0.19 |
| ASC Ardmore Shipping Corp. | Sold out | 0.00% | −0.15 |
| LABP Landos Biopharma Inc. | Sold out | 0.00% | −0.15 |
| IM CANNABIS CORP | Sold out | 0.00% | −0.14 |
| CAR Avis Budget Group Inc. | Reduce -3.6% | 1.23% | −0.13 |
| AIOT Powerfleet Inc. | Sold out | 0.00% | −0.12 |
| FLG New York Community Bancorp | Sold out | 0.00% | −0.09 |
| ASTS Ast Spacemobile Inc. | Sold out | 0.00% | −0.06 |
| PVBC Provident Bancorp Inc. | Reduce -45.9% | 0.10% | −0.05 |
| NXE Nexgen Energy Ltd. | Reduce -26.5% | 0.13% | −0.05 |
| BANR Banner Corporation | Reduce -20.0% | 0.40% | −0.04 |
| AMBR Amber International Holding | Sold out | 0.00% | −0.04 |
| ALTISOURCE PORTFOLIO SOLNS S | Reduce -55.6% | 0.02% | −0.03 |
| THFF First Financial Corp. | Reduce -18.6% | 0.19% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -14.3% | 0.52% | −0.02 |
| UTI Universal Technical Institut | Reduce -14.4% | 0.22% | −0.02 |
| URGENTLY INC | Reduce -0.2% | 0.16% | +0.00 |
| SEQUANS COMMUNICATIONS S A | Reduce -9.7% | 0.01% | +0.00 |
| FXI iShares China Large-Cap ETF | Reduce -11.0% | 0.78% | +0.04 |
| XLC SS Comm Select Sector SPDR | Reduce -0.9% | 0.69% | +0.09 |
| FFNW First Financial Northwest | Reduce -0.1% | 2.20% | +0.26 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -2.5% | 15.31% | +1.61 |
Portfolio Buys Q1 2024 → Q2 2024
| CIVI Civitas Resources Inc. | Add +235.9% | 4.79% | +3.37 |
| KEY Keycorp | Add +262.1% | 4.37% | +3.15 |
| APA Apa Corp. | Add +117.7% | 4.94% | +2.53 |
| CMA Comerica Inc. | Add +52.8% | 6.29% | +2.27 |
| IEI iShares 3-7 Year Treasury Bo | New | 2.05% | +2.05 |
| WAL Western Alliance Bancorp | Add +38.8% | 4.01% | +1.33 |
| ETRN Equitrans Midstream Corp. | New | 1.17% | +1.17 |
| RSP Invesco S&P 500 Equal Weight | Add +22.8% | 4.16% | +0.99 |
| TLT iShares 20+ Year Treasury BD | Add +87.1% | 1.96% | +0.98 |
| META Meta Platforms Inc. Class A | New | 0.93% | +0.93 |
| BUR Burford Capital Ltd. | Add +115.9% | 1.72% | +0.83 |
| BANC Banc of California Inc. | Add +25.5% | 5.45% | +0.76 |
| OVV Ovintiv Inc. | New | 0.74% | +0.74 |
| IEF iShares 7-10 Year Treasury B | Add +21.7% | 2.89% | +0.71 |
| EWY iShares MSCI South Korea ETF | Add +69.2% | 1.52% | +0.69 |
| RF Regions Financial Corp. | New | 0.66% | +0.66 |
| EWW iShares MSCI Mexico ETF | New | 0.58% | +0.58 |
| CTRA Coterra Energy Inc. | New | 0.49% | +0.49 |
| EIDO iShares MSCI Indonesia ETF | Add +115.3% | 0.91% | +0.46 |
| ADBE Adobe Inc. | New | 0.41% | +0.41 |
| TALO Talos Energy Inc. | New | 0.37% | +0.37 |
| INTC Intel Corp. | New | 0.34% | +0.34 |
| CWBC Community West Bancshares | New | 0.33% | +0.33 |
| OLK Olink Holding AB - ADR | New | 0.33% | +0.33 |
| M Macy's Inc. | New | 0.32% | +0.32 |
| UMBF Umb Financial Corp. | New | 0.31% | +0.31 |
| HTBK Heritage Commerce Corp. | Add +29.1% | 0.93% | +0.28 |
| EWU iShares MSCI United Kingdom | Add +34.5% | 0.75% | +0.25 |
| INDA iShares MSCI India ETF | Add +15.8% | 0.90% | +0.25 |
| S Sentinelone Inc. Class A | New | 0.23% | +0.23 |
| BCOW 1895 Bancorp of Wisconsin Inc. | Add +18.5% | 0.62% | +0.22 |
| XOP SS SPDR S&P Og Exp & Prod | New | 0.21% | +0.21 |
| RRC Range Resources Corp. | New | 0.20% | +0.20 |
| BFIN Bankfinancial Corp. | Add +1.4% | 2.17% | +0.19 |
| KRE SS SPDR S&P Regional Bank | Add +53.3% | 0.41% | +0.16 |
| EWJ iShares MSCI Japan ETF | Add +3.1% | 1.93% | +0.15 |
| EXE Expand Energy Corp. | New | 0.15% | +0.15 |
| HBNC Horizon Bancorp Inc. | Add +33.6% | 0.50% | +0.15 |
| CNOB Connectone Bancorp Inc. | New | 0.15% | +0.15 |
| SDHY Pgim SHRT Durat Hi YLD | New | 0.15% | +0.15 |
| KOS Kosmos Energy Ltd. | Add +1.3% | 3.48% | +0.13 |
| SHBI Shore Bancshares Inc. | Add +38.6% | 0.35% | +0.12 |
| CARE Carter Bankshares Inc. | Add +20.2% | 0.31% | +0.11 |
| FNWD Finward Bancorp | Add +8.0% | 0.48% | +0.08 |
| EOSE Eos Energy Enterprises Inc. | Add +18.6% | 0.20% | +0.08 |
| DHC Diversified Healthcare Trust | Add +4.6% | 0.23% | +0.07 |
| SDPI Superior Drilling Products I | Add +4.5% | 0.17% | +0.07 |
| ALTG Alta Equipment Group Inc. | New | 0.06% | +0.06 |
Options Activity Q1 2024 → Q2 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +14.3% | 24,000 | $13.1M |
| GLD SPDR Gold Shares | put | Sold out | 7,000 | $1.4Mbefore exit |
| RSP Invesco S&P 500 Equal Weight | put | New | 7,500 | $1.2M |
| USO United States Oil Fund LP | put | New | 12,500 | $995K |
| CMA Comerica Inc. | call | New | 10,000 | $510K |
| S Sentinelone Inc. Class A | put | New | 15,000 | $316K |
| INDA iShares MSCI India ETF | put | New | 5,000 | $279K |
| ADBE Adobe Inc. | call | New | 500 | $278K |
| EWU iShares MSCI United Kingdom | call | Sold out | 7,500 | $257Kbefore exit |
| FXI iShares China Large-Cap ETF | call | Sold out | 10,000 | $241Kbefore exit |
| KRE SS SPDR S&P Regional Bank | put | New | 2,500 | $123K |
| EIDO iShares MSCI Indonesia ETF | call | New | 5,000 | $96K |
| FXI iShares China Large-Cap ETF | put | Sold out | 1,600 | $39Kbefore exit |
| KRE SS SPDR S&P Regional Bank | call | Sold out | 600 | $30Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2024 → Q2 2024
| XOP SS SPDR S&P Og Exp & Prod | SP O&G EXPL PRO · principal | Sold out | 2,000 | $310Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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 |