1y return+32.7%S&P 500 +20.9%
3y return+81.7%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2021: $131 against $157 in the S&P 500.2
Petiole USA ltdS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| CBKCommercial Bancgroup Inc | $9.4M | 6.8% | |
| FXNCFirst Natl Corp Va | $9.2M | 6.6% | |
| CBANColony Bankcorp Inc | $9.0M | 6.5% | −1.4% |
| RNSTRenasant Corp | $8.3M | 5.9% | |
| BANCBanc Of California Inc | $8.1M | 5.8% | |
| ORRFOrrstown Finl Svcs Inc | $6.8M | 4.9% | −2.3% |
| MPBMid Penn Bancorp Inc | $6.7M | 4.8% | −1.1% |
| HWCHancock Whitney Corporation | $6.4M | 4.6% | |
| CCNECnb Finl Corp Pa | $6.4M | 4.6% | |
| CARECarter Bankshares Inc | $6.1M | 4.4% | −53.0% |
| UMBFUmb Finl Corp | $6.1M | 4.4% | |
| WALWestern Alliance Bancorp | $5.4M | 3.9% | −16.1% |
| FCNCAFirst Ctzns Bancshares Inc D | $5.0M | 3.6% | |
| WTFCWintrust Finl Corp | $4.8M | 3.4% | |
| FRMEFirst Merchants Corp | $4.1M | 3.0% | |
| BCALCalifornia Bancorp | $4.0M | 2.8% | −1.3% |
| FRSTPrimis Financial Corp | $3.8M | 2.7% | |
| SHBIShore Bancshares Inc | $3.4M | 2.4% | |
| EQBKEquity Bancshares Inc | $2.8M | 2.0% | |
| FNWBFirst Northwest Bancorp | $2.7M | 2.0% | −1.4% |
| FRBAFirst Bk Williamstown New Je | $2.7M | 2.0% | |
| CFGCitizens Finl Group Inc | $2.6M | 1.9% | −34.8% |
| PNFPPinnacle Finl Partners Inc | $2.6M | 1.9% | −36.4% |
| HAFCHanmi Finl Corp | $2.2M | 1.6% | −2.0% |
| FNBF N B Corp | $1.9M | 1.4% | −33.9% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| FCNCAFirst Ctzns Bancshares Inc D | March 31, 2022 | +212.6% | $5.0M |
| CARECarter Bankshares Inc | December 31, 2021 | +121.0% | $6.1M |
| COLBColumbia Bkg Sys Inc | December 31, 2022 | +112.7% | $1.7M |
| CFGCitizens Finl Group Inc | June 30, 2022 | +96.3% | $2.6M |
| CCNECnb Finl Corp Pa | September 30, 2023 | +86.1% | $6.4M |
| WTFCWintrust Finl Corp | December 31, 2021 | +77.0% | $4.8M |
| FRBAFirst Bk Williamstown New Je | September 30, 2023 | +64.5% | $2.7M |
| BANRBanner Corp | September 30, 2023 | +56.8% | $1.3M |
| FNBF N B Corp | March 31, 2022 | +53.3% | $1.9M |
| BCALCalifornia Bancorp | June 30, 2023 | +51.9% | $4.0M |
Sold off last quarter
- Webster Finl CorpCUSIP 947890109 was $7.1M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +16.9% | +14.8% |
| March 31, 2026 | +0.2% | −4.6% |
| December 31, 2025 | +7.0% | +2.4% |
| September 30, 2025 | +5.9% | +7.8% |
| June 30, 2025 | +3.0% | +10.5% |
| March 31, 2025 | −6.5% | −4.6% |
| December 31, 2024 | +5.2% | +2.1% |
| September 30, 2024 | +19.8% | +5.4% |
| June 30, 2024 | −2.8% | +4.0% |
| March 31, 2024 | −6.0% | +10.0% |
| December 31, 2023 | +23.2% | +11.2% |
| September 30, 2023 | +0.2% | −3.6% |
| June 30, 2023 | −2.7% | +8.3% |
| March 31, 2023 | −16.7% | +7.0% |
| December 31, 2022 | +3.3% | +7.1% |
| September 30, 2022 | −1.9% | −5.3% |
| June 30, 2022 | −12.0% | −16.5% |
| March 31, 2022 | −0.3% | −4.9% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Petiole USA ltd Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1600202&type=13F-HR&dateb=&owner=include&count=40CIK 1600202
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1600202/000117266126003356/Filed August 13, 2026 · accession 0001172661-26-003356