Managers / Q1 2019 · view latest →
RAFFLES ASSOCIATES LP
CIK 0001169581 · 5 PENN PLAZA, 19TH FLOOR, NEW YORK, NY, 10001 · 212-760-2322
Reported Value
$91M
Q1 2019
Positions
50
Filings on Record
30
2019–present window
Filed
May 15, 2019
original filing
Summary
Raffles Associates LP reported $91M in U.S.-listed holdings across 50 positions for Q1 2019.
Its largest position, BPOP, represents 14.4% of the portfolio.
Compared with Q4 2018, the fund opened 6 new positions and exited 1.
Portfolio Metrics
Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+65.5%
share of reported value
Largest Position
+14.4%
Popular
New / Exited
6 / 1
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- Common Stock · 79.2% · $72M
- Other · 13.8% · $13M
- Tracking Stk · 2.6% · $2M
- ADR · 2.4% · $2M
- ETP · 0.9% · $848,000
- Other · 1.1% · $1M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2018 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PROSHARES TR II | NEW | +25.0K | 25.0K | +$972,000 | $972,000 |
| SRC ENERGY INC | NEW | +100.0K | 100.0K | +$512,000 | $512,000 |
| TWITITAN INTL INC ILL | NEW | +70.9K | 70.9K | +$423,000 | $423,000 |
| LBRDALIBERTY BROADBAND CORP | NEW | +2.7K | 2.7K | +$245,000 | $245,000 |
| LONEEURLONESTAR RES US INC | NEW | +50.0K | 50.0K | +$200,000 | $200,000 |
| 180 DEGREE CAP CORP | NEW | +50.0K | 50.0K | +$93,000 | $93,000 |
| SYNCSYNACOR INC | ADDED | +115.4K | 160.5K | +$185,000 | $252,000 |
| WFCWELLS FARGO CO NEW | SOLD OUT | −10.2K | 0 | −$472,000 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2019
47 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BPOPPOPULAR INChistory → | COM NEW | 14.39% | $13M | 252.4K |
| 2 | GDP1USDGOODRICH PETE CORPhistory → | COM PAR | 9.04% | $8M | 608.0K |
| 3 | SMBCSOUTHERN MO BANCORP INChistory → | COM | 8.55% | $8M | 254.0K |
| 4 | PROVPROVIDENT FINL HLDGS INChistory → | COM | 7.83% | $7M | 359.4K |
| 5 | STNDSTANDARD AVB FINL CORPhistory → | COM | 6.02% | $6M | 204.1K |
| 6 | AERCAP HOLDINGS NV | SHS | 5.99% | $5M | 117.7K |
| 7 | MQ8MAG SILVER CORPhistory → | COM | 3.88% | $4M | 332.9K |
| 8 | ROANROAN RES INChistory → | CL A COM | 3.80% | $3M | 569.3K |
| 9 | NSSCNAPCO SEC TECHNOLOGIES INChistory → | COM | 3.22% | $3M | 142.0K |
| 10 | NUVECTRA CORP | COM | 2.75% | $3M | 228.7K |
| 11 | FWONKUSDLIBERTY MEDIA CORP DELAWARE | COM C SIRIUSXM · COM A SIRIUSXM · COM SER C FRMLA | 2.58% | $2M | 62.6K |
| 12 | FLYGBPFLY LEASING LTDhistory → | SPONSORED ADR | 2.41% | $2M | 159.3K |
| 13 | CBS CORP NEW | CL B | 2.37% | $2M | 45.6K |
| 14 | CNXCNX RESOURCES CORPORATIONhistory → | COM | 2.18% | $2M | 185.0K |
| 15 | MAYSMAYS J W INChistory → | COM | 1.86% | $2M | 44.9K |
| 16 | CEIXEURCONSOL ENERGY INC NEWhistory → | COM | 1.68% | $2M | 44.9K |
| 17 | DELLDELL TECHNOLOGIES INChistory → | CL C | 1.67% | $2M | 26.0K |
| 18 | MITCHAM INDS INC | COM | 1.43% | $1M | 332.7K |
| 19 | LBRDKLIBERTY BROADBAND CORP | COM SER C · COM SER A | 1.16% | $1M | 11.6K |
| 20 | FBPFIRST BANCORP P Rhistory → | COM NEW | 1.13% | $1M | 90.0K |
| 21 | PROSHARES TR II | ULTRA VIX SHORT | 1.06% | $972,000 | 25.0K |
| 22 | ACAARCOSA INChistory → | COM | 1.00% | $916,000 | 30.0K |
| 23 | OSGAMBAC FINL GROUP INC | COM NEW | 0.99% | $906,000 | 50.0K |
| 24 | BARCLAYS BK PLC | IPATH B COFFEE | 0.93% | $848,000 | 25.0K |
| 25 | MFNCMACKINAC FINL CORP | COM | 0.92% | $842,000 | 53.5K |
| 26 | CLBKCOLUMBIA FINL INC | COM | 0.86% | $784,000 | 50.0K |
| 27 | AGIALAMOS GOLD INC NEW | COM CL A | 0.83% | $762,000 | 150.0K |
| 28 | AXUALEXCO RESOURCE CORP | COM | 0.76% | $694,000 | 573.4K |
| 29 | AYS1SANDSTORM GOLD LTD | COM NEW | 0.72% | $658,000 | 120.0K |
| 30 | WCFBWCF BANCORP INC | COM | 0.71% | $649,000 | 78.7K |
| 31 | CCRCONSOL COAL RES LP | COM UNIT | 0.68% | $621,000 | 35.1K |
| 32 | HPREURHIGHPOINT RES CORP | COM | 0.65% | $592,000 | 268.0K |
| 33 | PBIPUSDPRUDENTIAL BANCORP INC NEW | COM | 0.63% | $573,000 | 33.0K |
| 34 | RIVERIVERVIEW FINL CORP NEW | COM | 0.59% | $543,000 | 47.2K |
| 35 | SRC ENERGY INC | COM | 0.56% | $512,000 | 100.0K |
| 36 | OTELOTELCO INC | CL A NEW | 0.54% | $492,000 | 30.0K |
| 37 | FORTUNA SILVER MINES INC | COM | 0.51% | $469,000 | 140.0K |
| 38 | VOXXGUSDVOXX INTL CORP | CL A | 0.51% | $462,000 | 100.0K |
| 39 | TWITITAN INTL INC ILL | COM | 0.46% | $423,000 | 70.9K |
| 40 | AMALEURAMALGAMATED BK NEW YORK N Y | CLASS A | 0.45% | $407,000 | 26.0K |
| 41 | SVMSILVERCORP METALS INC | COM | 0.42% | $382,000 | 150.0K |
| 42 | SELFGLOBAL SELF STORAGE INC | COM | 0.33% | $298,000 | 77.3K |
| 43 | SYNCSYNACOR INC | COM | 0.28% | $252,000 | 160.5K |
| 44 | LONEEURLONESTAR RES US INC | CL A VTG | 0.22% | $200,000 | 50.0K |
| 45 | UBCPUNITED BANCORP INC OHIO | COM | 0.18% | $163,000 | 15.0K |
| 46 | RAND CAP CORP | COM | 0.17% | $156,000 | 55.0K |
| 47 | 180 DEGREE CAP CORP | COM | 0.10% | $93,000 | 50.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $115M | 49 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $133M | 54 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $107M | 49 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $96M | 48 | Aug 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $82M | 43 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $93M | 49 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $97M | 48 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $89M | 52 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $86M | 51 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $79M | 47 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $75M | 46 | Nov 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $74M | 45 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $73M | 46 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $85M | 47 | Feb 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $94M | 50 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $92M | 48 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $97M | 45 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $104M | 49 | Feb 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $108M | 42 | Nov 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $118M | 44 | Aug 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $98M | 39 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $86M | 37 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $59M | 31 | Nov 16, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $61M | 39 | Aug 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $55M | 45 | May 15, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $104M | 50 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $105M | 53 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $97M | 52 | Aug 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $91M | 50 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $88M | 45 | Feb 14, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.