SEC 13F Intelligence

Managers / Q3 2023 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$75M
Q3 2023
Positions
46
Filings on Record
30
2019–present window
Filed
Nov 15, 2023
original filing

Summary

Raffles Associates LP reported $75M in U.S.-listed holdings across 46 positions for Q3 2023.

Its largest position, SMBC, represents 11.9% of the portfolio.

Compared with Q2 2023, the fund opened 8 new positions and exited 7.

Portfolio Metrics

Turnover
+19.2%
vs prior filed quarter
Top-10 Concentration
+64.2%
share of reported value
Largest Position
+11.9%
Southern Mo Bancorp
New / Exited
8 / 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: 86.0%Other: 6.8%ETP: 3.2%Closed-End Fund: 2.6%REIT: 0.7%Tracking Stk: 0.6%
  • Common Stock · 86.0% · $65M
  • Other · 6.8% · $5M
  • ETP · 3.2% · $2M
  • Closed-End Fund · 2.6% · $2M
  • REIT · 0.7% · $565,544
  • Tracking Stk · 0.6% · $454,995

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DIREXION SHS ETF TRNEW+700.0K700.0K+$3M$3M
PROSHARES TR IINEW+145.0K145.0K+$2M$2M
PKSTPEAKSTONE REALTY TRUSTNEW+34.0K34.0K+$565,544$565,544
JOFJAPAN SMALLER CAPITALIZATIONNEW+75.7K75.7K+$538,106$538,106
LIBERTY MEDIA CORP DELNEW+17.9K17.9K+$454,995$454,995
LXULSB INDS INCNEW+25.0K25.0K+$255,750$255,750
KGCKINROSS GOLD CORPNEW+50.0K50.0K+$228,000$228,000
KRANESHARES TRNEW+10.5K10.5K+$173,913$173,913

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

Holdings — Q3 2023

46 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SMBCSOUTHERN MO BANCORP INChistory →COM11.91%$9M232.3K
2BPOPPOPULAR INChistory →COM NEW7.48%$6M89.6K
3EBCEASTERN BANKSHARES INChistory →COM7.45%$6M448.3K
4JOBGEE GROUP INChistory →COM7.29%$6M9.30M
5PROVPROVIDENT FINL HLDGS INChistory →COM6.79%$5M391.3K
6OFGOFG BANCORPhistory →COM6.29%$5M159.1K
7AFBIAFFINITY BANCSHARES INChistory →COM4.93%$4M251.6K
8DIREXION SHS ETF TR20YR TRES BULL4.47%$3M700.0K
9FBPFIRST BANCORP P Rhistory →COM NEW4.33%$3M242.9K
10PROSHARES TR IIULSHT BLOOMB OIL3.23%$2M145.0K
11OREUROSISKO GOLD ROYALTIES LTDhistory →COM2.80%$2M180.0K
12VMDVIEMED HEALTHCARE INChistory →COM2.79%$2M313.4K
13MAYSMAYS J W INChistory →COM2.74%$2M44.4K
14LCTXLINEAGE CELL THERAPEUTICS INhistory →COM2.48%$2M1.59M
15ESOAENERGY SVCS ACQUISITION CORPhistory →COM2.16%$2M402.7K
16180 DEGREE CAP CORPCOM NEW1.92%$1M341.4K
17NXENEXGEN ENERGY LTDhistory →COM1.78%$1M225.0K
18NECBNORTHEAST CMNTY BANCORP INChistory →COM1.33%$1M68.0K
19PARAMOUNT GLOBALCLASS B COM1.20%$903,00070.0K
20SANDSTORM GOLD LTDCOM NEW1.15%$866,760186.0K
21NSTSNSTS BANCORP INChistory →COM1.12%$849,00893.8K
22WILLIAM PENN BANCORPORATIONCOM1.12%$848,64068.0K
23VOXX INTL CORPCL A1.06%$798,439100.1K
24VABKVIRGINIA NATL BANKSHARES CORhistory →COM1.04%$784,36525.8K
25NSSCNAPCO SEC TECHNOLOGIES INCCOM0.99%$743,68433.4K
26PTBPOTBELLY CORPCOM0.96%$725,08893.0K
27REPXRILEY EXPLORATION PERMIAN INCOM0.87%$655,06520.6K
28FNWDFINWARD BANCORPCOM0.80%$606,84627.4K
29PKSTPEAKSTONE REALTY TRUSTCOMMON SHARES0.75%$565,54434.0K
30VIZSLA SILVER CORPCOM NEW0.71%$539,103520.3K
31JOFJAPAN SMALLER CAPITALIZATIONCOM0.71%$538,10675.7K
32GPORGULFPORT ENERGY CORPCOMMON SHARES0.63%$474,6404.0K
33LIBERTY MEDIA CORP DELCOM LBTY SRM S A0.60%$454,99517.9K
34ECBKECB BANCORP INCCOM0.52%$389,54435.5K
35WNEBWESTERN NEW ENG BANCORP INCCOM0.52%$388,90059.9K
36FSEAFIRST SEACOAST BANCORP INCCOM0.46%$345,35446.8K
37BHBBAR HBR BANKSHARESCOM0.44%$335,12114.2K
38COMSCORE INCCOM0.38%$285,187464.6K
39LXULSB INDS INCCOM0.34%$255,75025.0K
40KGCKINROSS GOLD CORPCOM0.30%$228,00050.0K
41GLOBAL X FDSMSCI PAKISTAN0.25%$188,45514.2K
42KRANESHARES TRCICC CN CONSUMER0.23%$173,91310.5K
43UBCPUNITED BANCORP INC OHIOCOM0.23%$173,25015.0K
44ACDCPROFRAC HLDG CORPCLASS A COM0.22%$163,20015.0K
45CLSTCATALYST BANCORP INCCOMMON STOCK0.17%$127,29310.6K
46AWXAVALON HLDGS CORPCL A0.06%$44,50822.9K

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 ↗.