The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 06-30-2022
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: Petiole USA ltd
Address: 3 Columbus Circle
Suite 1201
New York , NY10019
Form 13F File Number: 028-21843

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: Andre Nussbaumer
Title: Chief Compliance Officer
Phone: 646-833-2386
Signature, Place, and Date of Signing:
/s/ Andre Nussbaumer New York , NY 08-12-2022
[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 reported are 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: 39
Form 13F Information Table Value Total: 114,456
(thousands)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name

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.]
No. Form 13F File Number Name


SEC FORM 13F-HR

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACNB CORP COM 000868109 529 17,831 SH SOLE 17,831 0 0
BANC OF CALIFORNIA INC COM 05990K106 8,231 467,168 SH SOLE 467,168 0 0
BANKFINANCIAL CORP COM 06643P104 655 69,724 SH SOLE 69,724 0 0
BLUE RIDGE BANKSHARES INC VA COM 095825105 4,210 274,775 SH SOLE 274,775 0 0
CALIFORNIA BANCORP INC COM 13005U101 717 37,704 SH SOLE 37,704 0 0
CARTER BANKSHARES INC COM NEW 146103106 4,619 349,889 SH SOLE 349,889 0 0
CB FINL SVCS INC COM 12479G101 4,093 179,046 SH SOLE 179,046 0 0
CITIZENS CMNTY BANCORP INC M COM 174903104 2,538 183,495 SH SOLE 183,495 0 0
CITIZENS FINL GROUP INC COM 174610105 2,026 56,774 SH SOLE 56,774 0 0
CODORUS VY BANCORP INC COM 192025104 3,556 157,962 SH SOLE 157,962 0 0
COLONY BANKCORP INC COM 19623P101 4,224 279,902 SH SOLE 279,902 0 0
EAGLE BANCORP MONT INC COM 26942G100 2,273 114,180 SH SOLE 114,180 0 0
F N B CORP COM 302520101 1,867 171,900 SH SOLE 171,900 0 0
FIRST BANCORP N C COM 318910106 2,373 68,000 SH SOLE 68,000 0 0
FIRST CTZNS BANCSHARES INC N CL A 31946M103 4,576 7,000 SH SOLE 7,000 0 0
FIRST MERCHANTS CORP COM 320817109 2,110 59,247 SH SOLE 59,247 0 0
FIRST NATL CORP COM 32106V107 5,118 280,460 SH SOLE 280,460 0 0
FIRST NORTHWEST BANCORP COM 335834107 1,730 110,874 SH SOLE 110,874 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 6,305 142,218 SH SOLE 142,218 0 0
HANMI FINL CORP COM NEW 410495204 1,265 56,351 SH SOLE 56,351 0 0
HUNTINGTON BANCSHARES INC COM 446150104 2,458 204,355 SH SOLE 204,355 0 0
INVESTAR HLDG CORP COM 46134L105 3,768 172,043 SH SOLE 172,043 0 0
MALVERN BANCORP INC COM 561409103 3,214 200,000 SH SOLE 200,000 0 0
MERIDIAN CORPORATION COM 58958P104 5,303 175,000 SH SOLE 175,000 0 0
MID PENN BANCORP INC COM 59540G107 4,437 164,502 SH SOLE 164,502 0 0
MIDWEST HLDG INC COM NEW 59833J206 1,196 99,594 SH SOLE 99,594 0 0
PACWEST BANCORP DEL COM 695263103 3,115 116,845 SH SOLE 116,845 0 0
PEOPLES BANCORP N C INC COM 710577107 477 17,550 SH SOLE 17,550 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 2,887 39,919 SH SOLE 39,919 0 0
PRIMIS FINANCIAL CORP COM 74167B109 1,483 108,801 SH SOLE 108,801 0 0
PROVIDENT FINL SVCS INC COM 74386T105 2,161 97,069 SH SOLE 97,069 0 0
SB FINL GROUP INC COM 78408D105 4,586 265,710 SH SOLE 265,710 0 0
SHORE BANCSHARES INC COM 825107105 1,690 91,372 SH SOLE 91,372 0 0
SYNOVUS FINL CORP COM NEW 87161C501 3,148 87,313 SH SOLE 87,313 0 0
TERRITORIAL BANCORP INC COM 88145X108 859 41,221 SH SOLE 41,221 0 0
WEBSTER FINL CORP COM 947890109 3,415 81,025 SH SOLE 81,025 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,354 47,500 SH SOLE 47,500 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 1,085 145,419 SH SOLE 145,419 0 0
WINTRUST FINL CORP COM 97650W108 2,805 35,000 SH SOLE 35,000 0 0