Petiole USA ltd

Portfolio Overview

Petiole USA ltd disclosed 32 positions worth $143.0M in its Form 13F-HR for Q1 2026, led by $CBAN (COLONY BANKCORP INC) at 6.3% of the equity portfolio, followed by $CARE and $FXNC. During the quarter the fund opened 1 new position and exited 3 — including a new stake in $EWBC. The portfolio is most concentrated in Financials (98.3% of disclosed assets). All figures are sourced directly from Petiole USA ltd’s Form 13F-HR filing with the SEC under CIK 1600202.

• 

  COLONY BANKCORP INC

  $CBAN

  —

  Quality

  $9.1M454,763 sh
• 

  Carter Bankshares, Inc.

  $CARE

  38.0#2,030

  Quality

  $8.9M381,373 sh
• 

  FIRST NATIONAL CORP /VA/

  $FXNC

  59.1#946

  Quality

  $8.3M307,940 sh
• 

  Commercial Bancgroup, Inc.

  $CBK

  —

  Quality

  $7.6M291,014 sh
• 

  WEBSTER FINANCIAL CORP

  $WBS

  60.2

  Quality

  $7.1M101,875 sh
• 

  RENASANT CORP

  $RNST

  —

  Quality

  $7.1M195,345 sh
• 

  BANC OF CALIFORNIA, INC.

  $BANC

  68.3

  Quality

  $7.0M397,167 sh
• 

  MID PENN BANCORP INC

  $MPB

  —

  Quality

  $6.3M194,511 sh
• 

  ORRSTOWN FINANCIAL SERVICES INC

  $ORRF

  36.7

  Quality

  $6.2M171,766 sh
• 

  WESTERN ALLIANCE BANCORPORATION

  $WAL

  56.1

  Quality

  $5.6M78,503 sh

Company	Quality	Value	Shares
COLONY BANKCORP INC$CBAN	—	$9.1M	454,763
Carter Bankshares, Inc.$CARE	38.0#2,030	$8.9M	381,373
FIRST NATIONAL CORP /VA/$FXNC	59.1#946	$8.3M	307,940
Commercial Bancgroup, Inc.$CBK	—	$7.6M	291,014
WEBSTER FINANCIAL CORP$WBS	60.2	$7.1M	101,875
RENASANT CORP$RNST	—	$7.1M	195,345
BANC OF CALIFORNIA, INC.$BANC	68.3	$7.0M	397,167
MID PENN BANCORP INC$MPB	—	$6.3M	194,511
ORRSTOWN FINANCIAL SERVICES INC$ORRF	36.7	$6.2M	171,766
WESTERN ALLIANCE BANCORPORATION$WAL	56.1	$5.6M	78,503

Showing top 10 of 32 holdings.

Full Holdings — Petiole USA ltd (Q1 2026)

All 32 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$CBAN	COLONY BANKCORP INC	$9.1M	6.3%	-51%	—
2	$CARE	Carter Bankshares, Inc.	$8.9M	6.2%	-51%	38
3	$FXNC	FIRST NATIONAL CORP /VA/	$8.3M	5.8%	-51%	59.1
4	$CBK	Commercial Bancgroup, Inc.	$7.6M	5.3%	-7%	—
5	$WBS	WEBSTER FINANCIAL CORP	$7.1M	5.0%	-50%	60.2
6	$RNST	RENASANT CORP	$7.1M	4.9%	-50%	—
7	$BANC	BANC OF CALIFORNIA, INC.	$7.0M	4.9%	-50%	68.3
8	$MPB	MID PENN BANCORP INC	$6.3M	4.4%	-51%	—
9	$ORRF	ORRSTOWN FINANCIAL SERVICES INC	$6.2M	4.3%	-51%	36.7
10	$WAL	WESTERN ALLIANCE BANCORPORATION	$5.6M	3.9%	-52%	56.1
11	$HWC	HANCOCK WHITNEY CORP	$5.5M	3.8%	-50%	—
12	$CCNE	CNB FINANCIAL CORP/PA	$5.5M	3.8%	-50%	—
13	$UMBF	UMB FINANCIAL CORP	$4.8M	3.4%	-12%	—
14	$FCNCA	FIRST CITIZENS BANCSHARES INC /DE/	$4.6M	3.2%	-80%	54.8
15	$WTFC	WINTRUST FINANCIAL CORP	$4.1M	2.9%	-50%	34.1
16	$FRME	FIRST MERCHANTS CORP	$3.6M	2.5%	-50%	—
17	$SBFG	SB FINANCIAL GROUP, INC.	$3.5M	2.5%	-50%	—
18	$PNFP	Pinnacle Financial Partners, Inc.	$3.5M	2.4%	-40%	—
19	$CFG	CITIZENS FINANCIAL GROUP INC/RI	$3.4M	2.4%	-54%	68.8
20	$BCAL	California BanCorp \ CA	$3.4M	2.4%	-51%	—
21	$FRST	Primis Financial Corp.	$3.1M	2.1%	-50%	—
22	$SHBI	SHORE BANCSHARES INC	$2.8M	1.9%	-50%	64
23	$HBAN	HUNTINGTON BANCSHARES INC /MD/	$2.6M	1.9%	-53%	69.4
24	$EQBK	EQUITY BANCSHARES INC	$2.5M	1.8%	-50%	—
25	$FNB	FNB CORP/PA/	$2.5M	1.8%	-53%	—
26	—	FIRST BK WILLIAMSTOWN NEW JE	$2.5M	1.7%	-50%	—
27	$FNWB	First Northwest Bancorp	$2.2M	1.6%	-51%	—
28	$COLB	COLUMBIA BANKING SYSTEM, INC.	$2.1M	1.5%	-53%	33
29	$SSB	SouthState Bank Corp	$2.0M	1.4%	-53%	—
30	$EWBC	EAST WEST BANCORP INC	$2.0M	1.4%	NEW	—
31	$BANR	BANNER CORP	$1.9M	1.3%	-53%	—
32	$HAFC	HANMI FINANCIAL CORP	$1.8M	1.3%	-51%	59.8