SEC 13F Intelligence

Managers / Q1 2021 · view latest →

RAFFLES ASSOCIATES LP

CIK 0001169581 · 5 PENN PLAZA, 19TH FLOOR, NEW YORK, NY, 10001 · 212-760-2322

Reported Value
$98M
Q1 2021
Positions
39
Filings on Record
30
2019–present window
Filed
May 17, 2021
original filing

Summary

Raffles Associates LP reported $98M in U.S.-listed holdings across 39 positions for Q1 2021.

Its largest position, BPOP, represents 14.7% of the portfolio.

Compared with Q4 2020, the fund opened 10 new positions and exited 7.

Portfolio Metrics

Turnover
+19.6%
vs prior filed quarter
Top-10 Concentration
+70.9%
share of reported value
Largest Position
+14.7%
Popular
New / Exited
10 / 7
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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
Q4 ’18: $88MQ4 ’18Q1 ’19: $91MQ2 ’19: $97MQ3 ’19: $105MQ4 ’19: $104MQ4 ’19Q1 ’20: $55MQ2 ’20: $61MQ3 ’20: $59MQ4 ’20: $86MQ4 ’20Q1 ’21: $98MQ2 ’21: $118MQ3 ’21: $108MQ4 ’21: $104MQ4 ’21Q1 ’22: $97MQ2 ’22: $92MQ3 ’22: $94MQ4 ’22: $85MQ4 ’22Q1 ’23: $73MQ2 ’23: $74MQ3 ’23: $75MQ4 ’23: $79MQ4 ’23Q1 ’24: $86MQ2 ’24: $89MQ3 ’24: $97MQ4 ’24: $93MQ4 ’24Q1 ’25: $82MQ2 ’25: $96MQ3 ’25: $107MQ4 ’25: $133MQ4 ’25Q1 ’26: $115Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 89.7%Other: 5.3%ADR: 2.2%Closed-End Fund: 1.7%Tracking Stk: 1.0%
  • Common Stock · 89.7% · $88M
  • Other · 5.3% · $5M
  • ADR · 2.2% · $2M
  • Closed-End Fund · 1.7% · $2M
  • Tracking Stk · 1.0% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VIACOMCBS INCNEW+105.0K105.0K+$5M$5M
EXECHESAPEAKE ENERGY CORPNEW+76.5K76.5K+$3M$3M
WILLIAM PENN BANCORP INCNEW+270.0K270.0K+$3M$3M
AFBIAFFINITY BANCSHARES INCNEW+251.5K251.5K+$3M$3M
BIDUBAIDU INCNEW+10.0K10.0K+$2M$2M
180 DEGREE CAP CORPNEW+222.1K222.1K+$2M$2M
DISCAUSDDISCOVERY INCNEW+25.0K25.0K+$1M$1M
ASSEMBLY BIOSCIENCES INCNEW+50.0K50.0K+$230,000$230,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2021

37 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BPOPPOPULAR INChistory →COM NEW14.67%$14M205.0K
2EBCEASTERN BANKSHARES INChistory →COM13.50%$13M687.8K
3SMBCSOUTHERN MO BANCORP INChistory →COM9.32%$9M232.3K
4GDP1USDGOODRICH PETE CORPhistory →COM PAR6.63%$7M688.6K
5PROVPROVIDENT FINL HLDGS INChistory →COM6.13%$6M356.3K
6STNDSTANDARD AVB FINL CORPhistory →COM5.24%$5M157.6K
7VIACOMCBS INCCL B4.82%$5M105.0K
8FBPFIRST BANCORP P Rhistory →COM NEW3.81%$4M332.9K
9VMDVIEMED HEALTHCARE INChistory →COM3.41%$3M331.5K
10EXECHESAPEAKE ENERGY CORPhistory →COM3.38%$3M76.5K
11WILLIAM PENN BANCORP INCCOM3.12%$3M270.0K
12AFBIAFFINITY BANCSHARES INChistory →COM3.12%$3M251.5K
13OSISKO GOLD ROYALTIES LTDCOM2.41%$2M215.0K
14BIDUBAIDU INChistory →SPON ADR REP A2.21%$2M10.0K
15SYNCSYNACOR INChistory →COM1.92%$2M861.7K
16VOXXGUSDVOXX INTL CORPhistory →CL A1.85%$2M95.5K
17180 DEGREE CAP CORPCOM NEW1.67%$2M222.1K
18LIBERTY LATIN AMERICA LTDCOM CL C · COM CL A1.31%$1M100.0K
19NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.31%$1M37.0K
20FBSSFAUQUIER BANKSHARES INChistory →COM1.29%$1M59.8K
21MAYSMAYS J W INChistory →COM1.22%$1M44.4K
22DISCAUSDDISCOVERY INChistory →COM SER A1.11%$1M25.0K
23LIBERTY MEDIA CORP DELCOM A SIRIUSXM · COM C SIRIUSXM1.03%$1M22.9K
24CRKCOMSTOCK RES INCCOM0.85%$831,000150.0K
25MFNCMACKINAC FINL CORPCOM0.69%$680,00048.5K
26OSGAMBAC FINL GROUP INCCOM NEW0.60%$586,00035.0K
27NWFLNORWOOD FINL CORPCOM0.59%$581,00021.8K
28FIRST SEACOAST BANCORPCOM0.59%$579,00058.1K
29HYCROFT MINING HOLDING CORPCOM CL A0.53%$525,000150.0K
30SVMSILVERCORP METALS INCCOM0.50%$491,000100.0K
31EVTCEVERTEC INCCOM0.38%$372,00010.0K
32ASSEMBLY BIOSCIENCES INCCOM0.23%$230,00050.0K
33UBCPUNITED BANCORP INC OHIOCOM0.22%$215,00015.0K
34LCTXLINEAGE CELL THERAPEUTICS INCOM0.10%$102,00043.6K
35PROSHARES TR IIULTRA VIX SHORT0.09%$85,00015.0K
36AWXAVALON HLDGS CORPCL A0.09%$84,00022.9K
37MIND1EURMIND TECHNOLOGY INCCOM0.04%$36,00015.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$115M49May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$133M54Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$107M49Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$96M48Aug 15, 202513F-HRchanges · EDGAR ↗
Q1 2025$82M43May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$93M49Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$97M48Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$89M52Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$86M51May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$79M47Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$75M46Nov 15, 202313F-HRchanges · EDGAR ↗
Q2 2023$74M45Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$73M46May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$85M47Feb 15, 202313F-HRchanges · EDGAR ↗
Q3 2022$94M50Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$92M48Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$97M45May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$104M49Feb 15, 202213F-HRchanges · EDGAR ↗
Q3 2021$108M42Nov 16, 202113F-HRchanges · EDGAR ↗
Q2 2021$118M44Aug 17, 202113F-HRchanges · EDGAR ↗
Q1 2021$98M39May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$86M37Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$59M31Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$61M39Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$55M45May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$104M50Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$105M53Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$97M52Aug 15, 201913F-HRchanges · EDGAR ↗
Q1 2019$91M50May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$88M45Feb 14, 201913F-HRchanges · 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 ↗.