SEC 13F Intelligence

Managers / Q4 2022 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$85M
Q4 2022
Positions
47
Filings on Record
30
2019–present window
Filed
Feb 15, 2023
original filing

Summary

Raffles Associates LP reported $85M in U.S.-listed holdings across 47 positions for Q4 2022.

Its largest position, SMBC, represents 12.5% of the portfolio.

Compared with Q3 2022, the fund opened 13 new positions and exited 16.

Portfolio Metrics

Turnover
+14.5%
vs prior filed quarter
Top-10 Concentration
+64.3%
share of reported value
Largest Position
+12.5%
Southern Mo Bancorp
New / Exited
13 / 16
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: 90.3%Other: 5.7%ETP: 1.9%Closed-End Fund: 1.5%Tracking Stk: 0.6%
  • Common Stock · 90.3% · $77M
  • Other · 5.7% · $5M
  • ETP · 1.9% · $2M
  • Closed-End Fund · 1.5% · $1M
  • Tracking Stk · 0.6% · $483,450

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ABXBARRICK GOLD CORPNEW+125.0K125.0K+$2M$2M
NXENEXGEN ENERGY LTDNEW+250.0K250.0K+$1M$1M
CRKCOMSTOCK RES INCNEW+70.0K70.0K+$959,700$959,700
GDXJVANECK ETF TRUSTNEW+25.0K25.0K+$891,250$891,250
AUBATLANTIC UN BANKSHARES CORPNEW+25.0K25.0K+$878,500$878,500
ETF MANAGERS TRNEW+75.0K75.0K+$791,250$791,250
BXBLACKSTONE INCNEW+10.0K10.0K+$741,900$741,900
ACDCPROFRAC HLDG CORPNEW+25.0K25.0K+$630,000$630,000

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

Holdings — Q4 2022

46 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SMBCSOUTHERN MO BANCORP INChistory →COM12.46%$11M232.3K
2EBCEASTERN BANKSHARES INChistory →COM11.68%$10M578.3K
3BPOPPOPULAR INChistory →COM NEW10.48%$9M135.0K
4PROVPROVIDENT FINL HLDGS INChistory →COM6.15%$5M381.3K
5JOBGEE GROUP INChistory →COM5.11%$4M8.91M
6FBPFIRST BANCORP P Rhistory →COM NEW4.81%$4M322.9K
7AFBIAFFINITY BANCSHARES INChistory →COM4.39%$4M248.6K
8WILLIAM PENN BANCORPORATIONCOM3.83%$3M270.0K
9OREUROSISKO GOLD ROYALTIES LTDhistory →COM2.68%$2M190.0K
10VMDVIEMED HEALTHCARE INChistory →COM2.68%$2M302.4K
11ABXBARRICK GOLD CORPhistory →COM2.51%$2M125.0K
12MAYSMAYS J W INChistory →COM2.50%$2M44.4K
13LCTXLINEAGE CELL THERAPEUTICS INhistory →COM2.10%$2M1.54M
14PARAMOUNT GLOBALCLASS B COM1.98%$2M100.0K
15VABKVIRGINIA NATL BANKSHARES CORhistory →COM1.73%$1M40.3K
16REPXRILEY EXPLORATION PERMIAN INhistory →COM1.60%$1M46.5K
17180 DEGREE CAP CORPCOM NEW1.51%$1M244.3K
18LIBERTY MEDIA CORP DELCOM A SIRIUSXM · COM C BRAVES GRP1.39%$1M32.9K
19VOXX INTL CORPCL A1.33%$1M135.5K
20NXENEXGEN ENERGY LTDhistory →COM1.30%$1M250.0K
21FNWDFINWARD BANCORPhistory →COM1.18%$1M27.9K
22NECBNORTHEAST CMNTY BANCORP INChistory →COM1.14%$969,80065.0K
23CRKCOMSTOCK RES INChistory →COM1.12%$959,70070.0K
24ESOAENERGY SVCS ACQUISITION CORPhistory →COM1.12%$953,510370.5K
25NSTSNSTS BANCORP INChistory →COM1.11%$950,33093.8K
26NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.08%$918,49033.4K
27GDXJVANECK ETF TRUSThistory →JUNIOR GOLD MINE1.04%$891,25025.0K
28AUBATLANTIC UN BANKSHARES CORPhistory →COM1.03%$878,50025.0K
29ETF MANAGERS TRPRIME JUNIR SLVR0.93%$791,25075.0K
30KRANESHARES TRCSI CHI INTERNET0.88%$755,00025.0K
31BXBLACKSTONE INCCOM0.87%$741,90010.0K
32ACDCPROFRAC HLDG CORPCLASS A COM0.74%$630,00025.0K
33GPORGULFPORT ENERGY CORPCOMMON SHARES0.69%$589,1208.0K
34WNEBWESTERN NEW ENG BANCORP INCCOM0.67%$571,12060.4K
35FIRST SEACOAST BANCORPCOM0.65%$555,26058.1K
36OFGOFG BANCORPCOM0.65%$551,20020.0K
37NWFLNORWOOD FINL CORPCOM0.51%$433,52013.0K
38ALTOALTO INGREDIENTS INCCOM0.51%$432,000150.0K
39PTBPOTBELLY CORPCOM0.39%$333,70059.9K
40BHBBAR HBR BANKSHARESCOM0.38%$323,60010.1K
41VIZSLA SILVER CORPCOM NEW0.27%$230,000200.0K
42UBCPUNITED BANCORP INC OHIOCOM0.26%$220,82015.0K
43IEIVANHOE ELECTRIC INCCOM0.21%$182,25015.0K
44CLSTCATALYST BANCORP INCCOMMON STOCK0.16%$134,05010.6K
45BRBSBLUE RIDGE BANKSHARES INC VACOM0.15%$124,90010.0K
46AWXAVALON HLDGS CORPCL A0.07%$63,09022.9K

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 ↗.