Managers / Q4 2021 · view latest →
RAFFLES ASSOCIATES LP
CIK 0001169581 · 5 PENN PLAZA, 19TH FLOOR, NEW YORK, NY, 10001 · 212-760-2322
Summary
Raffles Associates LP reported $104M in U.S.-listed holdings across 49 positions for Q4 2021.
Its largest position, BPOP, represents 16.1% of the portfolio.
Compared with Q3 2021, the fund opened 15 new positions and exited 8.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 86.7% · $91M
- Other · 7.2% · $8M
- ETP · 3.9% · $4M
- Closed-End Fund · 1.7% · $2M
- ADR · 0.5% · $498,000
Quarter-over-Quarter Changes full breakdown →
vs Q3 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| FBPFIRST BANCORP P R | NEW | +267.9K | 267.9K | +$4M | $4M |
| DISCOVERY INC | NEW | +130.0K | 130.0K | +$3M | $3M |
| PROSHARES TR II | NEW | +150.0K | 150.0K | +$2M | $2M |
| BACBK OF AMERICA CORP | NEW | +25.0K | 25.0K | +$1M | $1M |
| MAG SILVER CORP | NEW | +70.0K | 70.0K | +$1M | $1M |
| TWITTER INC | NEW | +15.0K | 15.0K | +$648,000 | $648,000 |
| GPORGULFPORT ENERGY CORP | NEW | +8.0K | 8.0K | +$576,000 | $576,000 |
| DIDIYDIDI GLOBAL INC | NEW | +100.0K | 100.0K | +$498,000 | $498,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BPOPPOPULAR INChistory → | COM NEW | 16.11% | $17M | 205.0K |
| 2 | EBCEASTERN BANKSHARES INChistory → | COM | 13.29% | $14M | 687.8K |
| 3 | SMBCSOUTHERN MO BANCORP INChistory → | COM | 11.61% | $12M | 232.3K |
| 4 | PARAAVIACOMCBS INC | CL A · CL B | 6.04% | $6M | 190.0K |
| 5 | PROVPROVIDENT FINL HLDGS INChistory → | COM | 5.64% | $6M | 356.3K |
| 6 | JOBGEE GROUP INChistory → | COM | 4.05% | $4M | 7.41M |
| 7 | AFBIAFFINITY BANCSHARES INChistory → | COM | 3.67% | $4M | 248.6K |
| 8 | FBPFIRST BANCORP P Rhistory → | COM NEW | 3.54% | $4M | 267.9K |
| 9 | WILLIAM PENN BANCORPORATION | COM | 3.13% | $3M | 270.0K |
| 10 | DISCOVERY INC | COM SER A | 2.93% | $3M | 130.0K |
| 11 | OREUROSISKO GOLD ROYALTIES LTDhistory → | COM | 2.52% | $3M | 215.0K |
| 12 | VMDVIEMED HEALTHCARE INChistory → | COM | 1.86% | $2M | 371.5K |
| 13 | PROSHARES TR II | ULTRA VIX SHORT | 1.79% | $2M | 150.0K |
| 14 | IVANHOE CAPITAL ACQUISTIN CO | COM CL A | 1.78% | $2M | 186.8K |
| 15 | MSOSADVISORSHARES TR | PURE US CANNABIS · PURE CANNABIS | 1.78% | $2M | 80.0K |
| 16 | MAYSMAYS J W INChistory → | COM | 1.73% | $2M | 44.4K |
| 17 | 180 DEGREE CAP CORP | COM NEW | 1.65% | $2M | 234.4K |
| 18 | VABKVIRGINIA NATL BANKSHARES CORhistory → | COM | 1.46% | $2M | 40.3K |
| 19 | LCTXLINEAGE CELL THERAPEUTICS INhistory → | COM | 1.28% | $1M | 543.6K |
| 20 | LIBERTY MEDIA CORP DEL | COM A SIRIUSXM · COM C SIRIUSXM | 1.12% | $1M | 22.9K |
| 21 | LILABLIBERTY LATIN AMERICA LTD | COM CL A · COM CL C | 1.10% | $1M | 100.0K |
| 22 | BACBK OF AMERICA CORPhistory → | COM | 1.07% | $1M | 25.0K |
| 23 | MAG SILVER CORP | COM | 1.05% | $1M | 70.0K |
| 24 | VOXX INTL CORP | CL A | 0.93% | $971,000 | 95.5K |
| 25 | NSSCNAPCO SEC TECHNOLOGIES INC | COM | 0.80% | $835,000 | 16.7K |
| 26 | NECBNORTHEAST CMNTY BANCORP INC | COM | 0.69% | $723,000 | 65.0K |
| 27 | ETF MANAGERS TR | ETFMG ALTR HRVST | 0.64% | $665,000 | 60.0K |
| 28 | NWFLNORWOOD FINL CORP | COM | 0.62% | $649,000 | 25.0K |
| 29 | TWITTER INC | COM | 0.62% | $648,000 | 15.0K |
| 30 | FIRST SEACOAST BANCORP | COM | 0.59% | $620,000 | 58.1K |
| 31 | GPORGULFPORT ENERGY CORP | COMMON SHARES | 0.55% | $576,000 | 8.0K |
| 32 | INTEGRA RES CORP | COM NEW | 0.53% | $553,000 | 257.0K |
| 33 | WNEBWESTERN NEW ENG BANCORP INC | COM | 0.51% | $529,000 | 60.4K |
| 34 | EVTCEVERTEC INC | COM | 0.48% | $500,000 | 10.0K |
| 35 | DIDIYDIDI GLOBAL INC | SPONSORED ADS | 0.48% | $498,000 | 100.0K |
| 36 | MOSMOSAIC CO NEW | COM | 0.38% | $393,000 | 10.0K |
| 37 | KRANESHARES TR | CSI CHI INTERNET | 0.35% | $365,000 | 10.0K |
| 38 | TMQTRILOGY METALS INC NEW | COM | 0.32% | $330,000 | 200.0K |
| 39 | SANDSTORM GOLD LTD | COM NEW | 0.30% | $310,000 | 50.0K |
| 40 | UBCPUNITED BANCORP INC OHIO | COM | 0.24% | $250,000 | 15.0K |
| 41 | REPXRILEY EXPLORATION PERMIAN IN | COM | 0.23% | $240,000 | 12.4K |
| 42 | CWHCAMPING WORLD HLDGS INC | CL A | 0.19% | $202,000 | 5.0K |
| 43 | KGCKINROSS GOLD CORP | COM | 0.14% | $145,000 | 25.0K |
| 44 | CLSTCATALYST BANCORP INC | COMMON STOCK | 0.14% | $144,000 | 10.6K |
| 45 | AWXAVALON HLDGS CORP | CL A | 0.08% | $83,000 | 22.9K |
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 ↗.