Black Maple Capital Management LP

Registered adviser

CIK

1588959

Location

MILWAUKEE, WI

Portfolio Value

Small $176,122,006

Diversification

Diversified

Filing Date

Global Rank

#6,912 / 8,819 ▼ 425

Top Industry

Banks - Regional 30.4%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

19 quarters · since Dec 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 168385

Roster of Oct 1, 2026

Regulatory AUM

$352,928,715

Main clients

Pooled investment vehicles (56% of AUM)

Private funds

3 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$197,653,213 gross assets

LEI

54930073VA5CIGS7CH81

Private funds on Schedule D 7.B.(1)

As filed May 22, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$138,179,000 gross assets in 2 funds Hedge funds $138,179,000 (2)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$352,928,715	Pooled investment vehicles (56%)
Apr 2025 to Mar 2026	$298,314,709	Individuals and high net worth (51%)
Apr 2024 to Mar 2025	$266,495,000	Pooled investment vehicles (52%)
May 2023 to Mar 2024	$203,752,000	Pooled investment vehicles (59%)
Apr 2023	$203,752,000	Pooled investment vehicles (59%)
Apr 2022 to Mar 2023	$178,508,000	Pooled investment vehicles (61%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 65.9% of the book (60%+)

Turnover

High turnover

116.7% over the last four quarters (100%+)

Horizon

Medium horizon

Value-weighted holding period 6.6 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 85.5%; sector active share 50.0% against the combined 13F book's sector weights.

Over time 19 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

82 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

24.9%

−8.5 pts

Top 5

47.9%

−3.4 pts

Top 10

66.5%

−0.9 pts

HHI

872

Diversified−419

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	45.3%	$79,711,659	26
Financial Services	24.4%	$42,970,138	26
Technology	13.9%	$24,507,258	9
Energy	7.6%	$13,322,624	4
Industrials	4.0%	$7,048,440	2
Communication Services	2.2%	$3,850,448	3
Real Estate	1.2%	$2,155,162	7
Consumer Cyclical	0.9%	$1,560,720	2
Basic Materials	0.6%	$995,557	3

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

17 positions

Ticker	Company	Δ Shares	Shares	Value
FSUN	Firstsun Capital Bancorp	+61,204	69,544	$2,696,916
EXE	EXPAND ENERGY Corp	+59,180	127,578	$11,633,837
ELME	Elme Communities	+45,315	314,632	$465,655
WFC	Wells Fargo & Company	+23,500	32,000	$2,644,480
UBER	Uber Technologies, Inc	+19,542	71,642	$5,169,686
AVGO	Broadcom Inc.	+14,877	17,172	$6,486,723
GSBD	Goldman Sachs BDC, Inc.	+12,500	37,500	$355,500
FXI	iShares China Large-Cap ETF	+12,000	34,000	$1,074,060
OCSL	Oaktree Specialty Lending Corp	+7,500	17,500	$208,950
COF	Capital One Financial Corp	+5,200	18,100	$3,631,222
IBTI	iShares iBonds Dec 2028 Term Treasury ETF	+4,000	27,250	$603,315
MSFT	Microsoft Corp	+2,550	9,656	$3,601,881
AMZN	Amazon Com Inc	+1,943	5,163	$1,230,549
GDX	VanEck Gold Miners ETF	+1,000	8,500	$641,325
SPY	Spdr S&P 500 ETF Trust	+522	42,006	$31,368,820
GOOGL	Alphabet Inc.	+300	3,800	$1,358,006
BPRN	Princeton Bancorp, Inc.	+1	7,119	$270,166
No positions match the current search.

Trimmed

Positions the filer reduced

19 positions

Ticker	Company	Δ Shares	Shares	Value
BANC	Banc Of California, Inc.	−213,037	36,584	$747,411
LODE	Comstock Inc.	−161,796	163,338	$679,486
WAL	Western Alliance Bancorporation	−48,520	36,079	$2,965,693
ALK	Alaska Air Group, Inc.	−39,600	133,000	$6,942,600
POET	Poet Technologies Inc.	−29,500	16,000	$164,480
OSBC	Old Second Bancorp Inc	−27,224	12,000	$279,840
DUOT	Duos Technologies Group, Inc.	−24,539	39,168	$470,016
AFCG	Advanced Flower Capital Inc.	−18,781	92,131	$285,606
BUR	Burford Capital Ltd	−18,662	20,000	$82,000
EWU	iShares MSCI United Kingdom ETF	−13,680	42,230	$1,948,492
PNFP	Pinnacle Financial Partners, Inc.	−9,715	75,834	$7,650,133
INR	Infinity Natural Resources, Inc.	−6,515	24,194	$307,263
DDI	DoubleDown Interactive Co., Ltd.	−6,212	155,556	$1,785,782
RSP	Victory Portfolios II	−5,150	28,900	$6,149,053
SGML	Sigma Lithium Corp	−2,500	11,786	$149,092
FNWD	Finward Bancorp	−2,481	12,197	$448,605
HBAN	Huntington Bancshares Inc	−2,300	395,356	$7,009,661
EWY	iShares Trust	−1,500	16,500	$3,331,350
USB	US Bancorp De	−1,000	7,000	$422,800
No positions match the current search.

New Positions

Positions the filer opened this quarter

16 positions

Ticker	Company	Shares	Value
TFC	Truist Financial Corp	133,000	$6,626,060
SOC	Sable Offshore Corp.	296,112	$912,024
GOOG	Alphabet Inc.	2,000	$706,660
NXPI	NXP Semiconductors N.V.	1,200	$337,236
C	Citigroup Inc	2,000	$279,920
TSAT	Telesat Corp	5,516	$279,219
SVC	Service Properties Trust	155,755	$263,225
OTF	Blue Owl Technology Finance Corp.	25,000	$258,750
CGBD	Carlyle Secured Lending, Inc.	20,000	$210,600
ICMB	Investcorp Credit Management BDC, Inc.	172,630	$201,977
EBC	Eastern Bankshares, Inc.	9,000	$200,160
PFLT	PennantPark Floating Rate Capital Ltd.	25,000	$187,000
EIDO	iShares MSCI Indonesia ETF	15,000	$169,650
ARI	Apollo Commercial Real Estate Finance, Inc.	15,000	$160,200
SLRC	SLR Investment Corp.	10,000	$123,700
EOSE	Eos Energy Enterprises, Inc.	3,000	$17,640
No positions match the current search.

Sold Out

Positions the filer fully exited

14 positions

Ticker	Company	Shares	Value
BAC	Bank Of America Corp	96,871	$4,722,461
SYF	Synchrony Financial	31,500	$2,142,630
META	Meta Platforms, Inc.	2,220	$1,270,128
LYFT	Lyft, Inc.	58,000	$771,400
MRVL	Marvell Technology, Inc.	6,350	$628,967
ALRS	Alerus Financial Corp	19,757	$468,438
DOC	Healthpeak Properties, Inc.	25,000	$410,750
BUSE	First Busey Corp	15,359	$388,121
LNSR	LENSAR, Inc.	55,371	$330,011
FVCB	FVCBankcorp, Inc.	19,150	$290,888
FFBC	First Financial Bancorp	8,556	$238,541
SNFCA	Security National Financial Corp	11,311	$107,228
MU	Micron Technology Inc	210	$70,946
KEEL	Keel Infrastructure Corp.	33,000	$64,350
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

82 tracked positions · $176,122,006 total · filing declares 94 positions · $176,122,024 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Industrials Real Estate Technology

Showing 1–50 of 82 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT + SHARES	Reduced	58,706	-31,478	$43,839,879	−25.3%	15	before history	24.89%
EXE	EXPAND ENERGY Corp Energy	Added	127,578	+59,180	$11,633,837	+54.9%	2	$101.30	6.61%
AVGO	Broadcom Inc. PUT + SHARES Technology	Added	23,672	+21,377	$8,942,098	+1158.9%	2	$391.35	5.08%
PNFP	Pinnacle Financial Partners, Inc. Financial Services	Reduced	75,834	-9,715	$7,650,133	+3.8%	2	$93.04	4.34%
HBAN	Huntington Bancshares Inc Financial Services	Reduced	395,356	-2,300	$7,009,661	+12.6%	4	$16.50	3.98%
ALK	Alaska Air Group, Inc. Industrials	Reduced	133,000	-39,600	$6,942,600	+9.4%	3	$47.56	3.94%
TFC	Truist Financial Corp Financial Services	NEW	133,000	NEW	$6,626,060	NEW	1	$49.19	3.76%
EWY	iShares Trust PUT + SHARES	Reduced	31,500	-1,500	$6,359,850	—	2	unpriced	3.61%
RSP	Victory Portfolios II	Reduced	28,900	-5,150	$6,149,053	−5.9%	10	$170.37	3.49%
MSFT	Microsoft Corp PUT + SHARES Technology	Added	16,156	+2,550	$6,026,511	+19.7%	2	$414.79	3.42%
UBER	Uber Technologies, Inc Technology	Added	71,642	+14,542	$5,169,686	+25.9%	5	$86.53	2.94%
XLF	State Street Corp PUT + SHARES Financial Services	Held	70,000	0	$3,752,700	+8.6%	2	$52.11	2.13%
COF	Capital One Financial Corp Financial Services	Added	18,100	+5,200	$3,631,222	+54.3%	2	$204.04	2.06%
ORCL	Oracle Corp PUT + SHARES Technology	Held	20,350	0	$2,982,292	−0.4%	2	$162.55	1.69%
WAL	Western Alliance Bancorporation Financial Services	Reduced	36,079	-48,520	$2,965,693	−50.5%	10	$84.11	1.68%
FSUN	Firstsun Capital Bancorp Financial Services	Added	69,544	+61,204	$2,696,916	+786.9%	3	$36.64	1.53%
WFC	Wells Fargo & Company Financial Services	Added	32,000	+23,500	$2,644,480	+290.8%	2	$81.83	1.50%
SMH	VanEck Semiconductor ETF PUT + SHARES	Held	4,000	0	$2,623,560	+71.1%	2	$397.07	1.49%
		Held	140,517	0	$2,389,491	+14.7%	5	$15.35	1.36%
FEZ	State Street(R) SPDR(R) EURO STOXX 50(R) ETF	Held	31,800	0	$2,184,024	+10.6%	11	$44.15	1.24%
EWU	iShares MSCI United Kingdom ETF	Reduced	42,230	-13,680	$1,948,492	−23.5%	11	unpriced	1.11%
EWJ	iShares MSCI Japan ETF	Held	20,659	0	$1,926,864	+10.5%	15	before history	1.09%
DDI	DoubleDown Interactive Co., Ltd. Communication Services	Reduced	155,556	-6,212	$1,785,782	+30.6%	5	$9.40	1.01%
MDY	Spdr S&P Midcap 400 ETF Trust PUT + SHARES	Held	2,500	0	$1,758,350	+14.0%	7	$592.23	1.00%
GOOGL	Alphabet Inc. Communication Services	Added	3,800	+300	$1,358,006	+34.9%	6	$195.46	0.77%
XME	State Street(R) SPDR(R) S&P(R) Metals & Mining ETF PUT + SHARES	Held	12,000	0	$1,283,160	−1.0%	15	before history	0.73%
LIEN	Chicago Atlantic BDC, Inc. Financial Services	Held	130,920	0	$1,279,088	+4.6%	5	$10.32	0.73%
AMZN	Amazon Com Inc Consumer Cyclical	Added	5,163	+1,943	$1,230,549	+83.5%	3	$237.15	0.70%
XLC	State Street(R) Communication Services Select Sector SPDR(R) ETF	Held	10,970	0	$1,175,216	−3.4%	15	before history	0.67%
GDX	VanEck Gold Miners ETF PUT + SHARES	Added	15,000	+1,000	$1,131,750	−11.9%	2	$97.33	0.64%
FXI	iShares China Large-Cap ETF	Added	34,000	+12,000	$1,074,060	+36.0%	2	unpriced	0.61%
INDA	iShares MSCI India ETF	Held	20,300	0	$1,002,617	+5.4%	11	unpriced	0.57%
SOC	Sable Offshore Corp. Energy	NEW	296,112	NEW	$912,024	NEW	1	$12.73	0.52%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Held	4,520	0	$861,150	+43.4%	15	before history	0.49%
BANC	Banc Of California, Inc. Financial Services	Reduced	36,584	-221,937	$747,411	−83.6%	13	$16.57	0.42%
GOOG	Alphabet Inc. Communication Services	NEW	2,000	NEW	$706,660	NEW	1	$357.39	0.40%
LODE	Comstock Inc. Basic Materials	Reduced	163,338	-161,796	$679,486	−31.5%	2	$3.27	0.39%
IBTI	iShares iBonds Dec 2028 Term Treasury ETF	Added	27,250	+4,000	$603,315	+16.5%	5	unpriced	0.34%
KRE	State Street(R) SPDR(R) S&P(R) Regional Banking ETF	Held	8,000	0	$598,800	+14.9%	14	unpriced	0.34%
DUOT	Duos Technologies Group, Inc. Technology	Reduced	39,168	-24,539	$470,016	+7.5%	2	$8.90	0.27%
NXE	NexGen Energy Ltd. Energy	Held	50,000	0	$469,500	−19.1%	13	$6.08	0.27%
ELME	Elme Communities Real Estate	Added	314,632	+45,315	$465,655	−14.0%	2	$3.11	0.26%
FNWD	Finward Bancorp Financial Services	Reduced	12,197	-2,481	$448,605	−15.8%	10	$25.53	0.25%
IBTH	iShares iBonds Dec 2027 Term Treasury ETF	Held	20,000	0	$447,400	−0.3%	5	unpriced	0.25%
RYN	Rayonier Inc Real Estate	Held	20,000	0	$425,600	+3.2%	2	$22.03	0.24%
USB	US Bancorp De Financial Services	Reduced	7,000	-1,000	$422,800	+1.6%	6	$47.23	0.24%
CHCT	Community Healthcare Trust Inc Real Estate	Held	22,258	0	$406,876	+15.0%	3	$15.88	0.23%
IBTJ	iShares iBonds Dec 2029 Term Treasury ETF	Held	17,500	0	$378,875	−0.9%	4	unpriced	0.22%
STHO	Star Holdings Real Estate	Held	40,970	0	$374,056	+20.6%	4	$8.09	0.21%
GLD	Spdr Gold Trust	Held	1,000	0	$368,380	−14.4%	3	$381.90	0.21%

Showing the top 50 of 82 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.