Black Maple Capital Management LP
Long book
$130.2M
Q1 2026
Positions
80
Top-10 weight
61%
concentration
Last quarter
+13.9%
SPY +14.8%
Turnover
48%
of book per quarter
Strategy in plain words
auto-generated from filingsBlack Maple Capital Management LP is an institutional manager, running a $130.2M US long book across 80 positions.
The portfolio is concentrated: the top 10 names carry 61% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: SS SPDR S&P 500 ETF TRUST-US, EXPAND ENERGY CORP, PINNACLE FINANCIAL PARTNERS, INVESCO S&P 500 EQUAL WEIGHT, ALASKA AIR GROUP INC.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 5 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.1%
Q2 2024
+6.6%
Q3 2024
+4.9%
Q4 2024
-2.1%
Q1 2025
+8.2%
Q2 2025
+7.1%
Q3 2025
+4.0%
Q4 2025
-2.4%
Q1 2026
+13.9%
Sector allocation
Financials 53%
Technology 12%
Energy 11%
Industrials 9%
Services media 6%
Other 4%
Materials 1%
Consumer discretionary 1%
Long book by quarter
What does Black Maple own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| EXE EXPAND ENERGY CORP | Energy | 68.4K | $7.5M | 5.8% | New |
| PNFP PINNACLE FINANCIAL PARTNERS | Financials | 85.5K | $7.4M | 5.7% | New |
| ALK ALASKA AIR GROUP INC | Industrials | 172.6K | $6.3M | 4.9% | +205.5% |
| HBAN HUNTINGTON BANCSHARES INC | Financials | 397.7K | $6.2M | 4.8% | -7.6% |
| WAL WESTERN ALLIANCE BANCORP | Financials | 84.6K | $6.0M | 4.6% | -23.6% |
| BAC BANK OF AMERICA CORP | Financials | 96.9K | $4.7M | 3.6% | +182.4% |
| BANC BANC OF CALIFORNIA INC | Financials | 249.6K | $4.4M | 3.4% | +44.6% |
| UBER UBER TECHNOLOGIES INC | Services media | 52.1K | $3.7M | 2.9% | -9.4% |
| MSFT MICROSOFT CORP | Technology | 7.1K | $2.6M | 2.0% | New |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 12.9K | $2.4M | 1.8% | New |
| SYF SYNCHRONY FINANCIAL | Financials | 31.5K | $2.1M | 1.6% | New |
| ORCL ORACLE CORP | Technology | 10.3K | $1.5M | 1.2% | New |
| META META PLATFORMS INC-CLASS A | Technology | 2.2K | $1.3M | 1.0% | -62.5% |
| LIEN CHICAGO ATLANTIC BDC INC | — | 130.9K | $1.2M | 0.9% | -3.7% |
| GOOGL ALPHABET INC-CL A | Technology | 3.5K | $1.0M | 0.8% | -12.5% |
| LODE COMSTOCK INC | Other | 325.1K | $992K | 0.8% | New |
| OSBC OLD SECOND BANCORP INC | Financials | 39.2K | $791K | 0.6% | -20.0% |
| LYFT LYFT INC-A | Services media | 58.0K | $771K | 0.6% | New |
| AVGO BROADCOM INC | Technology | 2.3K | $710K | 0.5% | New |
| WFC WELLS FARGO & CO | Financials | 8.5K | $677K | 0.5% | New |
| AMZN AMAZON.COM INC | Consumer discretionary | 3.2K | $671K | 0.5% | Held |
| MRVL MARVELL TECHNOLOGY INC | Technology | 6.3K | $629K | 0.5% | -32.6% |
| NXE NEXGEN ENERGY LTD | Materials | 50.0K | $580K | 0.4% | -24.5% |
| INR INFINITY NATURAL RESOUR-CL A | Energy | 30.7K | $541K | 0.4% | -37.2% |
| FNWD FINWARD BANCORP | Financials | 14.7K | $533K | 0.4% | -30.9% |
| ALRS ALERUS FINANCIAL CORP | Financials | 19.8K | $468K | 0.4% | -19.6% |
| DUOT DUOS TECHNOLOGIES GROUP INC | Technology | 63.7K | $437K | 0.3% | New |
| USB US BANCORP | Financials | 8.0K | $416K | 0.3% | Held |
| BUSE FIRST BUSEY CORP | Financials | 15.4K | $388K | 0.3% | +24.3% |
| LNSR LENSAR INC | Healthcare | 55.4K | $330K | 0.3% | -52.8% |
| AFCG ADVANCED FLOWER CAPITAL INC | — | 110.9K | $313K | 0.2% | New |
| STHO STAR HOLDINGS | Real estate | 41.0K | $310K | 0.2% | +58.5% |
| FSUN FIRSTSUN CAPITAL BANCORP | Financials | 8.3K | $304K | 0.2% | +31.5% |
| TSLA TESLA INC | Industrials | 785 | $292K | 0.2% | Held |
| FVCB FVCBANKCORP INC | Financials | 19.1K | $291K | 0.2% | -20.1% |
| POET POET TECHNOLOGIES INC | Technology | 45.5K | $270K | 0.2% | New |
| BPRN PRINCETON BANCORP INC | Financials | 7.1K | $240K | 0.2% | New |
| FFBC FIRST FINANCIAL BANCORP | Financials | 8.6K | $239K | 0.2% | -31.6% |
| GSBD GOLDMAN SACHS BDC INC | — | 25.0K | $222K | 0.2% | +150.0% |
| SGML SIGMA LITHIUM CORP | Materials | 14.3K | $176K | 0.1% | Held |
| BUR BURFORD CAPITAL LTD | Financials | 38.7K | $175K | 0.1% | -20.5% |
| KD KYNDRYL HOLDINGS INC | Technology | 12.0K | $157K | 0.1% | New |
| MSDL MORGAN STANLEY DIRECT LENDIN | — | 10.0K | $140K | 0.1% | New |
| LAR LITHIUM ARGENTINA AG | Materials | 20.2K | $135K | 0.1% | Held |
| OCSL OAKTREE SPECIALTY LENDING CO | — | 10.0K | $113K | 0.1% | New |
| SNFCA SECURITY NATL FINL CORP-CL A | Financials | 11.3K | $107K | 0.1% | -53.0% |
| MU MICRON TECHNOLOGY INC | Technology | 210 | $71K | 0.1% | -79.0% |
| 1B2 BITFARMS LTD/CANADA | — | 33.0K | $64K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 98 | $179.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 86 | $142.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 93 | $206.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 97 | $222.7M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 93 | $179.0M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 88 | $190.2M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 99 | $150.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 95 | $153.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 106 | $163.3M | canonical | SEC ↗ |
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