# EDGAR Filing Document

**Accession Number:** 0001588959
**File Stem:** 0001214659-25-012208
**Filing Date:** 2025-8
**Character Count:** 13514
**Document Hash:** 200e7f019cbf9a3090c38357da2436a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-012208.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001214659-25-012208

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Black Maple Capital Management LP
- **CENTRAL INDEX KEY:** 0001588959

**ORGANIZATION NAME:**
- **EIN:** 463083949
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17355
- **FILM NUMBER:** 251218332

**BUSINESS ADDRESS:**
- **STREET 1:** 250 EAST WISCONSIN AVENUE
- **STREET 2:** SUITE 1250
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-294-7777

**MAIL ADDRESS:**
- **STREET 1:** 250 EAST WISCONSIN AVENUE
- **STREET 2:** SUITE 1250
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Black Maple Capital Management LP<br>**Address:** 250 EAST WISCONSIN AVENUE<br>SUITE 1250<br>MILWAUKEE, WI 53202

**Form 13F File Number:** 028-17355

**CRD Number (if applicable):** 000168385

**SEC File Number (if applicable):** 801-78645

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Benjamin Evers<br>**Title:** Chief Compliance Officer<br>**Phone:** 414-294-7777

**Signature, Place, and Date of Signing:**

/s/ Benjamin Evers  Milwaukee, WI  08-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 97

**Form 13F Information Table Value Total:** $222709287

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADOBE INC | COM | 00724F101 |  | 406224 | 1050 | SH |  | SOLE |  | 1050 | 0 | 0 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 108450 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| ALERUS FINL CORP | COM | 01446U103 |  | 323994 | 14972 | SH |  | SOLE |  | 14972 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 709560 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 704920 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 7437219 | 184638 | SH |  | SOLE |  | 184638 | 0 | 0 |
| ARDMORE SHIPPING CORP | COM | Y0207T100 |  | 96000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 560973 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| BANC OF CALIFORNIA INC | COM | 05990K106 |  | 6391289 | 454896 | SH |  | SOLE |  | 454896 | 0 | 0 |
| BANKFINANCIAL CORP | COM | 06643P104 |  | 2537752 | 219339 | SH |  | SOLE |  | 219339 | 0 | 0 |
| BAR HBR BANKSHARES | COM | 066849100 |  | 382140 | 12755 | SH |  | SOLE |  | 12755 | 0 | 0 |
| BIT DIGITAL INC | SHS | G1144A105 |  | 372300 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| BITFARMS LTD | COM | 09173B107 |  | 33608 | 40000 | SH |  | SOLE |  | 40000 | 0 | 0 |
| BLUE RIDGE BANKSHARES INC VA | COM | 095825105 |  | 307559 | 85671 | SH |  | SOLE |  | 85671 | 0 | 0 |
| BURFORD CAP LTD | ORD SHS | G17977110 |  | 3679893 | 258057 | SH |  | SOLE |  | 258057 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 222690 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| CARTER BANKSHARES INC | COM NEW | 146103106 |  | 296965 | 17126 | SH |  | SOLE |  | 17126 | 0 | 0 |
| CENOVUS ENERGY INC | COM | 15135U109 |  | 856800 | 63000 | SH |  | SOLE |  | 63000 | 0 | 0 |
| CENTRUS ENERGY CORP | CL A | 15643U104 |  | 274770 | 1500 | SH | Call | SOLE |  | 1500 | 0 | 0 |
| CHICAGO ATLANTIC BDC INC | COM | 828174102 |  | 1900964 | 183668 | SH |  | SOLE |  | 183668 | 0 | 0 |
| CITIZENS CMNTY BANCORP INC M | COM | 174903104 |  | 395066 | 28628 | SH |  | SOLE |  | 28628 | 0 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 3270231 | 139873 | SH |  | SOLE |  | 139873 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 357900 | 6000 | SH | Call | SOLE |  | 6000 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 3380664 | 56675 | SH |  | SOLE |  | 56675 | 0 | 0 |
| COMMUNITY WEST BANCSHARES NE | COM | 203937107 |  | 261727 | 13415 | SH |  | SOLE |  | 13415 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 49180 | 1000 | SH | Put | SOLE |  | 1000 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 5635044 | 114580 | SH |  | SOLE |  | 114580 | 0 | 0 |
| DIVERSIFIED HEALTHCARE TR | COM SH BEN INT | 25525P107 |  | 675986 | 188823 | SH |  | SOLE |  | 188823 | 0 | 0 |
| DIVERSIFIED HEALTHCARE TR | COM SH BEN INT | 25525P107 |  | 90574 | 25300 | SH | Call | SOLE |  | 25300 | 0 | 0 |
| DOUBLEDOWN INTERACTIVE CO LT | ADS | 25862B109 |  | 478500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | *W EXP 11/17/202 | 29415C119 |  | 11904 | 25327 | SH |  | SOLE |  | 25327 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 51200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| EOS ENERGY ENTERPRISES INC | COM CL A | 29415C101 |  | 153600 | 30000 | SH | Call | SOLE |  | 30000 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 1332735 | 32403 | SH |  | SOLE |  | 32403 | 0 | 0 |
| FINWARD BANCORP | COM | 31812F109 |  | 828600 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| FIRST BUSEY CORP | COM NEW | 319383204 |  | 362933 | 15859 | SH |  | SOLE |  | 15859 | 0 | 0 |
| FIRST FNDTN INC | COM | 32026V104 |  | 170498 | 33431 | SH |  | SOLE |  | 33431 | 0 | 0 |
| FOOT LOCKER INC | COM | 344849104 |  | 490000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 823650 | 19000 | SH |  | SOLE |  | 19000 | 0 | 0 |
| FVCBANKCORP INC | COM | 36120Q101 |  | 282858 | 23971 | SH |  | SOLE |  | 23971 | 0 | 0 |
| HORIZON BANCORP INC | COM | 440407104 |  | 470597 | 30598 | SH |  | SOLE |  | 30598 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 224000 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 4289064 | 23600 | SH |  | SOLE |  | 23600 | 0 | 0 |
| INVESTAR HLDG CORP | COM | 46134L105 |  | 308444 | 15965 | SH |  | SOLE |  | 15965 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 2935750 | 39159 | SH |  | SOLE |  | 39159 | 0 | 0 |
| ISHARES INC | MSCI SPAIN ETF | 464286764 |  | 616420 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 263800 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| ISHARES TR | MSCI UK ETF NEW | 46435G334 |  | 794400 | 20000 | SH | Call | SOLE |  | 20000 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 5827604 | 60850 | SH |  | SOLE |  | 60850 | 0 | 0 |
| ISHARES TR | IBONDS 27 TRM TS | 46436E841 |  | 281125 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| ISHARES TR | IBONDS 28 TRM TS | 46436E833 |  | 223600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| ISHARES TR | MSCI UK ETF NEW | 46435G334 |  | 2431261 | 61210 | SH |  | SOLE |  | 61210 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 835200 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 10360830 | 87000 | SH |  | SOLE |  | 87000 | 0 | 0 |
| ISHARES TR | MSCI INDONIA ETF | 46429B309 |  | 918594 | 52104 | SH |  | SOLE |  | 52104 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 1487285 | 85378 | SH |  | SOLE |  | 85378 | 0 | 0 |
| KRANESHARES TRUST | CALIFORNIA CARB | 500767553 |  | 1215418 | 78313 | SH |  | SOLE |  | 78313 | 0 | 0 |
| LENSAR INC | COM | 52634L108 |  | 1429472 | 108540 | SH |  | SOLE |  | 108540 | 0 | 0 |
| LITHIUM ARGENTINA AG | COM SHS | H5012F103 |  | 62797 | 30191 | SH |  | SOLE |  | 30191 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 567360 | 36000 | SH |  | SOLE |  | 36000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 193500 | 2500 | SH | Put | SOLE |  | 2500 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 1033290 | 13350 | SH |  | SOLE |  | 13350 | 0 | 0 |
| MERCHANTS BANCORP IND | COM | 58844R108 |  | 3343377 | 101100 | SH |  | SOLE |  | 101100 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 3225453 | 4370 | SH |  | SOLE |  | 4370 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 1442025 | 11700 | SH |  | SOLE |  | 11700 | 0 | 0 |
| NEXGEN ENERGY LTD | COM | 65340P106 |  | 632928 | 91200 | SH |  | SOLE |  | 91200 | 0 | 0 |
| NORTHEAST CMNTY BANCORP INC | COM | 664121100 |  | 1528289 | 65747 | SH |  | SOLE |  | 65747 | 0 | 0 |
| OLD SECOND BANCORP INC ILL | COM | 680277100 |  | 842650 | 47500 | SH |  | SOLE |  | 47500 | 0 | 0 |
| OSISKO DEVELOPMENT CORP | COM NEW | 68828E809 |  | 63344 | 29600 | SH |  | SOLE |  | 29600 | 0 | 0 |
| PERPETUA RESOURCES CORP | COM | 714266103 |  | 1031900 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| PROVIDENT FINL HLDGS INC | COM | 743868101 |  | 188821 | 12182 | SH |  | SOLE |  | 12182 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 2029840 | 49910 | SH |  | SOLE |  | 49910 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 1660630 | 70605 | SH |  | SOLE |  | 70605 | 0 | 0 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 1190574 | 10970 | SH |  | SOLE |  | 10970 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 572300 | 2260 | SH |  | SOLE |  | 2260 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 254430 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| SHORE BANCSHARES INC | COM | 825107105 |  | 237372 | 15100 | SH |  | SOLE |  | 15100 | 0 | 0 |
| SIGMA LITHIUM CORPORATION | COM | 826599102 |  | 64287 | 14286 | SH |  | SOLE |  | 14286 | 0 | 0 |
| SILICON MOTION TECHNOLOGY CO | SPONSORED ADR | 82706C108 |  | 379233 | 5045 | SH |  | SOLE |  | 5045 | 0 | 0 |
| SILICON MOTION TECHNOLOGY CO | SPONSORED ADR | 82706C108 |  | 375850 | 5000 | SH | Put | SOLE |  | 5000 | 0 | 0 |
| SPAR GROUP INC | COM | 784933103 |  | 26367 | 27466 | SH |  | SOLE |  | 27466 | 0 | 0 |
| SPDR INDEX SHS FDS | EURO STOXX 50 | 78463X202 |  | 1899414 | 31800 | SH |  | SOLE |  | 31800 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 27032173 | 43752 | SH |  | SOLE |  | 43752 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 75068775 | 121500 | SH | Put | SOLE |  | 121500 | 0 | 0 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 1699440 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| SPDR SERIES TRUST | S METALS MNG | 78464A755 |  | 705810 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 623595 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 593900 | 10000 | SH | Put | SOLE |  | 10000 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 274053 | 1210 | SH |  | SOLE |  | 1210 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 201900 | 5000 | SH | Call | SOLE |  | 5000 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 310926 | 7700 | SH |  | SOLE |  | 7700 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 326550 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 316750 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 780900 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| VIGIL NEUROSCIENCE INC | COM | 92673K108 |  | 1717136 | 215992 | SH |  | SOLE |  | 215992 | 0 | 0 |
| WESTERN ALLIANCE BANCORP | COM | 957638109 |  | 5395592 | 69192 | SH |  | SOLE |  | 69192 | 0 | 0 |
| ZIONS BANCORPORATION N A | COM | 989701107 |  | 3195972 | 61532 | SH |  | SOLE |  | 61532 | 0 | 0 |

---