SEC 13F Intelligence

Managers / Q1 2023 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$73M
Q1 2023
Positions
46
Filings on Record
30
2019–present window
Filed
May 15, 2023
original filing

Summary

Raffles Associates LP reported $73M in U.S.-listed holdings across 46 positions for Q1 2023.

Its largest position, SMBC, represents 12.0% of the portfolio.

Compared with Q4 2022, the fund opened 7 new positions and exited 8.

Portfolio Metrics

Turnover
+11.6%
vs prior filed quarter
Top-10 Concentration
+63.5%
share of reported value
Largest Position
+12.0%
Southern Mo Bancorp
New / Exited
7 / 8
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: 84.0%ETP: 7.5%Other: 5.6%Closed-End Fund: 1.7%Tracking Stk: 1.3%
  • Common Stock · 84.0% · $62M
  • ETP · 7.5% · $5M
  • Other · 5.6% · $4M
  • Closed-End Fund · 1.7% · $1M
  • Tracking Stk · 1.3% · $940,163

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UNGUSDUNITED STS NAT GAS FD LPNEW+450.0K450.0K+$3M$3M
UVXYNPROSHARES TR IINEW+250.0K250.0K+$1M$1M
DWDMORGAN STANLEYNEW+10.0K10.0K+$878,000$878,000
MSOSADVISORSHARES TRNEW+100.0K100.0K+$569,000$569,000
FSEAFIRST SEACOAST BANCORP INCNEW+48.6K48.6K+$418,889$418,889
DIREXION SHS ETF TRNEW+50.0K50.0K+$385,500$385,500
GLOBAL X FDSNEW+10.0K10.0K+$127,200$127,200
ABXBARRICK GOLD CORPSOLD OUT−125.0K0−$2M$0

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

Holdings — Q1 2023

45 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SMBCSOUTHERN MO BANCORP INChistory →COM11.98%$9M235.2K
2EBCEASTERN BANKSHARES INChistory →COM9.94%$7M578.3K
3BPOPPOPULAR INChistory →COM NEW7.92%$6M101.4K
4PROVPROVIDENT FINL HLDGS INChistory →COM7.26%$5M391.3K
5JOBGEE GROUP INChistory →COM5.16%$4M9.13M
6AFBIAFFINITY BANCSHARES INChistory →COM4.85%$4M248.6K
7UNGUSDUNITED STS NAT GAS FD LPhistory →UNIT PAR4.25%$3M450.0K
8VMDVIEMED HEALTHCARE INChistory →COM4.18%$3M317.4K
9WILLIAM PENN BANCORPORATIONCOM4.17%$3M270.0K
10FBPFIRST BANCORP P Rhistory →COM NEW3.78%$3M242.9K
11LCTXLINEAGE CELL THERAPEUTICS INhistory →COM3.14%$2M1.54M
12MAYSMAYS J W INChistory →COM2.66%$2M44.4K
13OSISKO GOLD ROYALTIES LTDCOM2.37%$2M110.0K
14VOXXGUSDVOXX INTL CORPhistory →CL A2.27%$2M135.5K
15VABKVIRGINIA NATL BANKSHARES CORhistory →COM1.98%$1M40.3K
16REPXRILEY EXPLORATION PERMIAN INhistory →COM1.79%$1M34.5K
17NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.71%$1M33.4K
18180 DEGREE CAP CORPCOM NEW1.68%$1M245.9K
19UVXYNPROSHARES TR IIhistory →ULTRA VIX SHORT1.58%$1M250.0K
20NXENEXGEN ENERGY LTDhistory →COM1.43%$1M275.0K
21ESOAENERGY SVCS ACQUISITION CORPhistory →COM1.32%$968,040422.7K
22LIBERTY MEDIA CORP DELCOM A SIRIUSXM · COM C BRAVES GRP1.28%$940,16330.9K
23NECBNORTHEAST CMNTY BANCORP INChistory →COM1.21%$892,16068.0K
24DWDMORGAN STANLEYhistory →COM NEW1.20%$878,00010.0K
25NSTSNSTS BANCORP INChistory →COM1.16%$852,76093.8K
26FNWDFINWARD BANCORPhistory →COM1.10%$811,07527.9K
27KRANESHARES TRCSI CHI INTERNET0.85%$623,80020.0K
28OFGOFG BANCORPCOM0.85%$623,50025.0K
29MSOSADVISORSHARES TRPURE US CANNABIS0.77%$569,000100.0K
30WNEBWESTERN NEW ENG BANCORP INCCOM0.67%$491,96859.9K
31PTBPOTBELLY CORPCOM0.63%$461,98255.5K
32GPORGULFPORT ENERGY CORPCOMMON SHARES0.60%$440,0005.5K
33FSEAFIRST SEACOAST BANCORP INCCOM0.57%$418,88948.6K
34DIREXION SHS ETF TRDAILY RGNAL BULL0.52%$385,50050.0K
35BHBBAR HBR BANKSHARESCOM0.47%$348,66413.2K
36NWFLNORWOOD FINL CORPCOM0.47%$346,09711.8K
37ACDCPROFRAC HLDG CORPCLASS A COM0.43%$316,75025.0K
38VIZSLA SILVER CORPCOM NEW0.41%$304,000200.0K
39ETF MANAGERS TRPRIME JUNIR SLVR0.30%$222,40020.0K
40UBCPUNITED BANCORP INC OHIOCOM0.30%$217,50015.0K
41ALTOALTO INGREDIENTS INCCOM0.20%$150,000100.0K
42GLOBAL X FDSMSCI PAKISTAN0.17%$127,20010.0K
43CLSTCATALYST BANCORP INCCOMMON STOCK0.17%$121,38210.6K
44BRBSBLUE RIDGE BANKSHARES INC VACOM0.14%$102,00010.0K
45AWXAVALON HLDGS CORPCL A0.08%$60,79422.9K

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 ↗.