SEC 13F Intelligence

Managers / Q1 2022 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$97M
Q1 2022
Positions
45
Filings on Record
30
2019–present window
Filed
May 16, 2022
original filing

Summary

Raffles Associates LP reported $97M in U.S.-listed holdings across 45 positions for Q1 2022.

Its largest position, EBC, represents 14.8% of the portfolio.

Compared with Q4 2021, the fund opened 7 new positions and exited 11.

Portfolio Metrics

Turnover
+13.1%
vs prior filed quarter
Top-10 Concentration
+70.2%
share of reported value
Largest Position
+14.8%
Eastern Bankshares
New / Exited
7 / 11
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
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: 89.2%Other: 5.5%ETP: 2.1%Closed-End Fund: 1.6%Tracking Stk: 1.1%Other: 0.4%
  • Common Stock · 89.2% · $87M
  • Other · 5.5% · $5M
  • ETP · 2.1% · $2M
  • Closed-End Fund · 1.6% · $2M
  • Tracking Stk · 1.1% · $1M
  • Other · 0.4% · $375,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FNWDFINWARD BANCORPNEW+27.9K27.9K+$1M$1M
NSTSNSTS BANCORP INCNEW+93.8K93.8K+$1M$1M
IIININSTEEL INDS INCNEW+15.0K15.0K+$555,000$555,000
KRANESHARES TRNEW+15.0K15.0K+$444,000$444,000
BHBBAR HBR BANKSHARESNEW+15.1K15.1K+$432,000$432,000
BOTJBANK OF THE JAMES FINL GP INNEW+20.0K20.0K+$298,000$298,000
KELYAKELLY SVCS INCNEW+10.0K10.0K+$217,000$217,000
PARAMOUNT GLOBALADDED+115.0K125.0K+$4M$5M

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

Holdings — Q1 2022

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EBCEASTERN BANKSHARES INChistory →COM14.78%$14M667.8K
2BPOPPOPULAR INChistory →COM NEW13.44%$13M160.0K
3SMBCSOUTHERN MO BANCORP INChistory →COM11.92%$12M232.3K
4PROVPROVIDENT FINL HLDGS INChistory →COM6.06%$6M356.3K
5JOBGEE GROUP INChistory →COM5.06%$5M8.91M
6PARAMOUNT GLOBALCLASS B COM4.86%$5M125.0K
7AFBIAFFINITY BANCSHARES INChistory →COM4.01%$4M248.6K
8WILLIAM PENN BANCORPORATIONCOM3.54%$3M270.0K
9FBPFIRST BANCORP P Rhistory →COM NEW3.27%$3M242.9K
10OSISKO GOLD ROYALTIES LTDCOM3.25%$3M240.0K
11DISCAUSDDISCOVERY INChistory →COM SER A3.07%$3M120.0K
12VMDVIEMED HEALTHCARE INChistory →COM2.13%$2M416.5K
13LCTXLINEAGE CELL THERAPEUTICS INhistory →COM2.07%$2M1.31M
14MAYSMAYS J W INChistory →COM1.76%$2M44.4K
15180 DEGREE CAP CORPCOM NEW1.64%$2M233.7K
16VABKVIRGINIA NATL BANKSHARES CORhistory →COM1.43%$1M40.3K
17UVXYNPROSHARES TR IIhistory →ULTRA VIX SHORT1.38%$1M100.0K
18FNWDFINWARD BANCORPhistory →COM1.32%$1M27.9K
19NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.29%$1M61.4K
20NSTSNSTS BANCORP INChistory →COM1.16%$1M93.8K
21REPXRILEY EXPLORATION PERMIAN INhistory →COM1.09%$1M42.4K
22VOXXGUSDVOXX INTL CORPhistory →CL A1.08%$1M105.5K
23LIBERTY MEDIA CORP DELCOM A SIRIUSXM · COM C SIRIUSXM1.08%$1M22.9K
24LIBERTY LATIN AMERICA LTDCOM CL A · COM CL C0.99%$965,000100.0K
25MQ8MAG SILVER CORPCOM0.91%$889,00055.0K
26NECBNORTHEAST CMNTY BANCORP INCCOM0.82%$796,00065.0K
27KRANESHARES TRASIA PACIFIC HI · CSI CHI INTERNET0.75%$729,00025.0K
28GPORGULFPORT ENERGY CORPCOMMON SHARES0.74%$719,0008.0K
29NWFLNORWOOD FINL CORPCOM0.73%$714,00025.0K
30FIRST SEACOAST BANCORPCOM0.63%$616,00058.1K
31IIININSTEEL INDS INCCOM0.57%$555,00015.0K
32WNEBWESTERN NEW ENG BANCORP INCCOM0.55%$540,00060.4K
33BHBBAR HBR BANKSHARESCOM0.44%$432,00015.1K
34DIDIYDIDI GLOBAL INCSPONSORED ADS0.39%$375,000150.0K
35INTEGRA RES CORPCOM NEW0.38%$368,000257.0K
36BOTJBANK OF THE JAMES FINL GP INCOM0.31%$298,00020.0K
37UBCPUNITED BANCORP INC OHIOCOM0.28%$273,00015.0K
38KELYAKELLY SVCS INCCL A0.22%$217,00010.0K
39TMQTRILOGY METALS INC NEWCOM0.22%$210,000200.0K
40KGCKINROSS GOLD CORPCOM0.15%$147,00025.0K
41CLSTCATALYST BANCORP INCCOMMON STOCK0.15%$144,00010.6K
42AWXAVALON HLDGS CORPCL A0.08%$75,00022.9K

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 ↗.