Black Maple Capital Management LP

Q3 2025 13F-HR Holdings

Location
Milwaukee, WI
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
93
Total value ($000)
$206,368
Net value change ($000)
-16,341 (-7.3%)
New positions
16
Sold out positions
25
Turnover %
45.3%
Sector allocation + QoQ delta (equities-only)

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PINNACLE FINANCIAL PARTNERS INC 7,469 NEW
USB 6,036 1904.1%
EQT 4,863 NEW
89bio, Inc. 4,728 NEW
AR 4,197 56.4%
EXE 3,712 NEW
UBER 3,102 948.6%
RSP 2,550 59.5%
SPY 1,136 4.2%
SNV 1,119 NEW
Top Reduces (Value $000, Stocks/ETFs)
IEI -10,361 -100.0%
DAL -5,635 -100.0%
IEF -4,863 -83.4%
BANC -4,798 -75.1%
ZION -3,196 -100.0%
BankFinancial CORP -2,538 -100.0%
CMA -2,367 -70.0%
BUR -2,239 -60.8%
RRC -2,030 -100.0%
Vigil Neuroscience, Inc. -1,717 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 68,364 (33.1% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type