Q2 2026 13F · SEC CIK 1600202

Petiole USA ltd

Institutional asset managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $139.1M
Reported positions: 31
Top holdings a year, 3 yrs: +20.2%
Assets under management: $1.1B

Petiole USA ltd is an institutional asset manager that reported 31 positions worth $139.1M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Commercial Bancgroup Inc (CBK, 6.8%), First Natl Corp Va (FXNC, 6.6%), Colony Bankcorp Inc (CBAN, 6.5%). A portfolio copying its top holdings returned 20.2% a year over the last 3 years, against 20.4% for the S&P 500.

Petiole USA ltd holdings all 31 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Petiole USA ltd 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
CBKCommercial Bancgroup Inc	6.8%	5.3%	291,014	+0.0%	$9.4M
FXNCFirst Natl Corp Va	6.6%	5.8%	305,340	-0.8%	$9.2M
CBANColony Bankcorp Inc	6.5%	6.3%	448,563	-1.4%	$9.0M
RNSTRenasant Corp	5.9%	4.9%	194,245	-0.6%	$8.3M
BANCBanc of California Inc	5.8%	4.9%	397,168	+0.0%	$8.1M
ORRFOrrstown Financial Services	4.9%	4.3%	167,766	-2.3%	$6.8M
MPBMid Penn Bancorp Inc	4.8%	4.4%	192,411	-1.1%	$6.7M
HWCHancock Whitney Corporation	4.6%	3.8%	86,218	+0.0%	$6.4M
CCNECnb Finl Corp Pa	4.6%	3.8%	189,241	+0.0%	$6.4M
CARECarter Bankshares Inc	4.4%	6.2%	179,222	-53.0%	$6.1M
UMBFUmb Finl Corp	4.4%	3.4%	42,622	+0.0%	$6.1M
WALWestern Alliance Bancorp	3.9%	3.9%	65,838	-16.1%	$5.4M
FCNCAFirst Ctzns Bancshares Cl A	3.6%	3.2%	2,415	+0.0%	$5.0M
WTFCWintrust Finl Corp	3.4%	2.9%	29,750	+0.0%	$4.8M
FRMEFirst Merchants Corp	3.0%	2.5%	94,047	+0.0%	$4.1M
BCALCalifornia BanCorp	2.8%	2.4%	189,804	-1.3%	$4.0M
FRSTPrimis Financial Corp	2.7%	2.1%	230,222	+0.0%	$3.8M
SHBIShore Bancshares Inc	2.4%	1.9%	147,487	+0.0%	$3.4M
EQBKEquity Bancshares Inc	2.0%	1.8%	57,364	+0.0%	$2.8M
FNWBFirst Northwest Bancorp	2.0%	1.6%	254,197	-1.4%	$2.7M
FRBAFirst Bk Williamstown New Je	2.0%	1.7%	154,660	+0.0%	$2.7M
CFGCitizens Finl Group Inc	1.9%	2.4%	37,217	-34.8%	$2.6M
PNFPPinnacle Finl Partners Inc	1.9%	2.4%	25,694	-36.4%	$2.6M
HAFCHanmi Finl Corp	1.6%	1.3%	68,451	-2.0%	$2.2M
FNBF N B Corp	1.4%	1.8%	99,250	-33.9%	$1.9M
HBANHuntington Bancshares Inc	1.4%	1.8%	106,040	-37.2%	$1.9M
COLBColumbia Bkg Sys Inc Com	1.2%	1.5%	51,752	-32.9%	$1.7M
EWBCEast West Bancorp Inc	1.2%	1.4%	12,600	-32.3%	$1.6M
SSBSouthstate Bk Corp	1.0%	1.4%	14,575	-33.8%	$1.5M
BANRBanner Corporation	0.9%	1.3%	19,615	-36.9%	$1.3M
SBFGSb Finl Group Inc	0.5%	2.5%	26,437	-84.3%	$668K

What Petiole USA ltd bought and sold in Q2 2026, against Q1 2026.

New positions

No new positions among the largest holdings.

Added to

No position grew by more than 5%.

Reduced

SBFG Sb Finl Group Inc-84.3% shares
CARE Carter Bankshares Inc-53.0% shares
HBAN Huntington Bancshares Inc-37.2% shares
BANR Banner Corporation-36.9% shares
PNFP Pinnacle Finl Partners Inc-36.4% shares
CFG Citizens Finl Group Inc-34.8% shares
FNB F N B Corp-33.9% shares
SSB Southstate Bk Corp-33.8% shares

Sold out

WBS Webster Finl Corpwas 4.9%

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +31.6% /yr; S&P 500 +20.1%
3 years: +20.2% /yr; S&P 500 +20.4%
5 years: +5.7% /yr; S&P 500 +13.0%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$139.1M	31
Q1 2026	$143.0M	32
Q4 2025	$154.3M	33
Q3 2025	$144.8M	36
Q2 2025	$141.4M	37
Q1 2025	$141.5M	38
Q4 2024	$158.9M	39
Q3 2024	$152.9M	39
Q2 2024	$119.2M	38
Q1 2024	$127.8M	38
Q4 2023	$135.3M	39
Q3 2023	$109.2M	39

Questions about Petiole USA ltd's portfolio

What stocks does Petiole USA ltd own?

Petiole USA ltd's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 31 positions worth $139.1M. The largest are Commercial Bancgroup Inc (CBK) at 6.8%, First Natl Corp Va (FXNC) at 6.6%, Colony Bankcorp Inc (CBAN) at 6.5%, Renasant Corp (RNST) at 5.9% and Banc of California Inc (BANC) at 5.8%.

What did Petiole USA ltd buy last quarter?

Petiole USA ltd opened no new positions and grew none by more than 5% among its largest holdings in Q2 2026.

What did Petiole USA ltd sell last quarter?

In Q2 2026, Petiole USA ltd sold all of Webster Finl Corp (WBS), Sb Finl Group Inc (SBFG) (-84.3% shares), Carter Bankshares Inc (CARE) (-53.0% shares) and Huntington Bancshares Inc (HBAN) (-37.2% shares), compared with its Q1 2026 filing.

How has Petiole USA ltd's portfolio performed?

A portfolio copying Petiole USA ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +20.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +31.6% against +20.1%. Over 5 years: +5.7% a year against +13.0%.

When is Petiole USA ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. Petiole USA ltd's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Petiole USA ltd manage?

Petiole USA ltd reported $1.1B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $139.1M.