Black Maple Capital Management LP — Q4 2025 13F Holdings

Name: Black Maple Capital Management LP — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001588959

Total reported value

$179.5M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	18.89%	+13.79%	-68.78%
2	WAL	Western Alliance Bancorp	Stock-Financials	6.52%	-3.18%	+103.29%
3	PNW	Pinnacle West Capital Corporation	Stock-Utilities	5.25%	-5.25%	EXIT
4	HBAN	Huntington Bancshares INC	Stock-Financials	5.22%	-1.75%	+707.32%
5	RSP	Invesco S&p 500 Equal Weight	ETF-Large Cap & Growth	4.70%	—	-2.77%
6	ODV	Osisko Development CORP	Stock-Other	4.56%	-4.56%	EXIT
7	EQT	Eqt CORP	Stock-Energy	3.68%	-3.68%	EXIT
8	UBER	Uber Technologies INC	Stock-Industrials	3.29%	-1.00%	+64.29%
9	OZK	Bank Ozk	Stock-Financials	2.98%	-2.98%	EXIT
10	META	Meta Platforms Inc-class A	Stock-Comm Services	2.73%	-1.96%	+35.47%
11	BANC	Banc Of California INC	Stock-Other	2.59%	-0.06%	+80.21%
12	EWJ	Ishares Msci Japan ETF	ETF-Other	2.21%	-1.24%	—
13	EOG	Eog Resources INC	Stock-Energy	2.13%	-2.13%	EXIT
14	EWU	Ishares Msci United Kingdom	ETF-Other	2.08%	-0.66%	-5.59%
15	ALK	Alaska Air Group INC	Stock-Industrials	1.99%	+1.55%	—
16	MBIN	Merchants Bancorp/in	Stock-Other	1.96%	-1.96%	EXIT
17	FEZ	State Street Spdr Euro Stoxx	ETF-Other	1.43%	—	—
18	SYU1	Synovus Financial CORP	Stock-Other	1.39%	-1.39%	EXIT
19	BAC	Bank Of America CORP	Stock-Financials	1.32%	+1.31%	—
20	KCCA	Kraneshares California Carbo	ETF-Other	1.24%	—	—
21	INDA	Ishares Msci India ETF	ETF-Other	1.13%	-0.60%	-9.09%
22	LIEN	Chicago Atlantic Bdc INC	Stock-Other	0.98%	—	-13.20%
23	DDI	Doubledown Interactive -adr	Stock-Other	0.98%	—	+64.32%
24	LNSR	Lensar INC	Stock-Other	0.95%	-0.78%	—
25	XLC	Ss Comm Select Sector Spdr	ETF-Other	0.90%	—	—
26	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.88%	-0.88%	EXIT
27	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.88%	—	—
28	MDY	State Street Spdr S&p Midcap	ETF-Other	0.84%	—	+100.00%
29	XME	Ss Spdr S&p Metals Mining	ETF-Other	0.76%	—	—
30	EIDO	Ishares Msci Indonesia ETF	ETF-Other	0.75%	-0.75%	EXIT
31	OSBC	Old Second Bancorp INC	Stock-Other	0.67%	—	-6.67%
32	MRVL	Marvell Technology INC	Stock-Tech	0.56%	—	-27.01%
33	FNWD	Finward Bancorp	Stock-Other	0.52%	—	-29.19%
34	AMZN	Amazon.com INC	Stock-Consumer Disc	0.52%	—	—
35	NOG	Northern Oil And Gas INC	Stock-Energy	0.50%	-0.50%	EXIT
36	INR	Infinity Natural Resour-cl A	Stock-Other	0.50%	—	—
37	GDXJ	Vaneck Junior Gold Miners	ETF-Commodities	0.48%	-0.48%	EXIT
38	NECB	Northeast Community Bancorp	Stock-Other	0.48%	-0.48%	EXIT
39	KRE	Ss Spdr S&p Regional Bank	ETF-Other	0.48%	—	+23.53%
40	SIMO	Silicon Motion Technol-adr	Stock-Other	0.47%	-0.47%	EXIT
41	XLK	Ss Technology Select Sector	ETF-Tech	0.46%	—	+100.00%
42	GLD	Spdr Gold Shares	ETF-Commodities	0.44%	—	-84.00%
43	ADBE	Adobe INC	Stock-Tech	0.44%	-0.44%	EXIT
44	FCX	Freeport-mcmoran INC	Stock-Materials	0.43%	-0.43%	EXIT
45	NXE	Nexgen Energy LTD	Stock-Other	0.43%	—	-23.20%
46	AR	Antero Resources CORP	Stock-Energy	0.39%	-0.39%	EXIT
47	ALRS	Alerus Financial CORP	Stock-Other	0.39%	—	+124.40%
48	IBTH	Ishares Ibonds Dec 2027 Term	ETF-Other	0.31%	—	—
49	IBTI	Ishares Ibonds Dec 2028 Term	ETF-Other	0.31%	—	—
50	BUR	Burford Capital Limited	Stock-Other	0.30%	—	-59.60%

1–50 of 81

Holding changes this quarter

Position changes disclosed by Black Maple Capital Management LP for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	HBAN	Huntington Bancshares INC	+4.8%	+707.32%	Add
2	ODV	Osisko Development CORP	+4.4%	+1557.24%	Add
3	WAL	Western Alliance Bancorp	+4.2%	+103.29%	Add
4	OZK	Bank Ozk	+2.9%	+2216.80%	Add
5	BANC	Banc Of California INC	+1.7%	+80.21%	Add
6	UBER	Uber Technologies INC	+1.6%	+64.29%	Add
7	EQT	Eqt CORP	+1.3%	+9.73%	Add
8	META	Meta Platforms Inc-class A	+1.2%	+35.47%	Add
9	SYU1	Synovus Financial CORP	+0.9%	+74.12%	Add
10	MDY	State Street Spdr S&p Midcap	+0.6%	+100.00%	Add
11	DDI	Doubledown Interactive -adr	+0.5%	+64.32%	Add
12	GOOG	Alphabet Inc-cl C	+0.4%	—	Unchanged
13	GDXJ	Vaneck Junior Gold Miners	+0.4%	+142.00%	Add
14	ALRS	Alerus Financial CORP	+0.3%	+124.40%	Add
15	MRVL	Marvell Technology INC	0%	-27.01%	Trim
16	MBIN	Merchants Bancorp/in	0%	-36.41%	Trim
17	NECB	Northeast Community Bancorp	-0.1%	-44.93%	Trim
18	DHC	Diversified Healthcare Trust	-0.1%	-68.46%	Trim
19	BUR	Burford Capital Limited	-0.4%	-59.60%	Trim
20	MU	Micron Technology INC	-1.1%	-93.67%	Trim
21	GLD	Spdr Gold Shares	-1.3%	-84.00%	Trim
22	USB	US Bancorp	-2.8%	-93.91%	Trim
23	AR	Antero Resources CORP	-5.3%	-95.36%	Trim
24	SPY	Ss Spdr S&p 500 ETF Trust-us	-22%	-68.78%	Trim
25	ETNBGBP	89bio INC	—	EXIT	Sold out
26	EXE	Expand Energy CORP	—	EXIT	Sold out
27	LYFT	Lyft Inc-a	—	EXIT	Sold out
28	EOG	Eog Resources INC	—	NEW	New buy
29	COLB	Columbia Banking System INC	—	EXIT	Sold out
30	ALK	Alaska Air Group INC	—	NEW	New buy
31	INTC	Intel CORP	—	EXIT	Sold out
32	BAC	Bank Of America CORP	—	NEW	New buy
33	NVO	Novo-nordisk A/s-spons Adr	—	EXIT	Sold out
34	CMA	Comerica INC	—	EXIT	Sold out
35	IEF	Ishares 7-10 Year Treasury B	—	EXIT	Sold out
36	GDX	Vaneck Gold Miners ETF	—	EXIT	Sold out
37	AMZN	Amazon.com INC	—	NEW	New buy
38	NOG	Northern Oil And Gas INC	—	NEW	New buy
39	INR	Infinity Natural Resour-cl A	—	NEW	New buy
40	SIMO	Silicon Motion Technol-adr	—	NEW	New buy
41	SYF	Synchrony Financial	—	EXIT	Sold out
42	SM	Sm Energy Co	—	NEW	New buy
43	DOC	Healthpeak Properties INC	—	NEW	New buy
44	PEBO	Peoples Bancorp INC	—	EXIT	Sold out
45	XLE	Ss Energy Select Sector	—	EXIT	Sold out
46	TSLA	Tesla INC	—	NEW	New buy
47	IBCP	Independent Bank CORP - Mich	—	NEW	New buy
48	FFBC	First Financial Bancorp	—	NEW	New buy
49	KWEB	Kranesh Csi China Internet	—	NEW	New buy
50	KMB	Kimberly-clark CORP	—	NEW	New buy