SEC 13F Intelligence

Managers / Q4 2023 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$79M
Q4 2023
Positions
47
Filings on Record
30
2019–present window
Filed
Feb 14, 2024
original filing

Summary

Raffles Associates LP reported $79M in U.S.-listed holdings across 47 positions for Q4 2023.

Its largest position, SMBC, represents 15.7% of the portfolio.

Compared with Q3 2023, the fund opened 10 new positions and exited 9.

Portfolio Metrics

Turnover
+17.4%
vs prior filed quarter
Top-10 Concentration
+65.0%
share of reported value
Largest Position
+15.7%
Southern Mo Bancorp
New / Exited
10 / 9
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: 92.6%Closed-End Fund: 3.0%Other: 2.8%REIT: 0.9%Tracking Stk: 0.6%
  • Common Stock · 92.6% · $73M
  • Closed-End Fund · 3.0% · $2M
  • Other · 2.8% · $2M
  • REIT · 0.9% · $677,361
  • Tracking Stk · 0.6% · $513,814

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
RNGRGBPRANGER ENERGY SVCS INCNEW+105.0K105.0K+$1M$1M
PROSHARES TR IINEW+125.0K125.0K+$1M$1M
OXYOCCIDENTAL PETE CORPNEW+15.0K15.0K+$895,650$895,650
EFCUSDELLINGTON FINANCIAL INCNEW+68.3K68.3K+$868,347$868,347
IEIVANHOE ELECTRIC INCNEW+75.0K75.0K+$756,000$756,000
ODVOSISKO DEVELOPMENT CORPNEW+242.9K242.9K+$706,950$706,950
TIPTTIPTREE INCNEW+30.1K30.1K+$569,938$569,938
MQ8MAG SILVER CORPNEW+50.0K50.0K+$520,500$520,500

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

Holdings — Q4 2023

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SMBCSOUTHERN MO BANCORP INChistory →COM15.68%$12M232.3K
2EBCEASTERN BANKSHARES INChistory →COM8.94%$7M498.0K
3PROVPROVIDENT FINL HLDGS INChistory →COM6.24%$5M391.3K
4OFGOFG BANCORPhistory →COM6.12%$5M129.1K
5JOBGEE GROUP INChistory →COM5.88%$5M9.30M
6BPOPPOPULAR INChistory →COM NEW5.67%$4M54.6K
7AFBIAFFINITY BANCSHARES INChistory →COM5.08%$4M251.6K
8FBPFIRST BANCORP P Rhistory →COM NEW5.05%$4M242.9K
9VMDVIEMED HEALTHCARE INChistory →COM3.45%$3M347.7K
10LCTXLINEAGE CELL THERAPEUTICS INhistory →COM2.94%$2M2.13M
11MAYSMAYS J W INChistory →COM2.36%$2M44.4K
12NXENEXGEN ENERGY LTDhistory →COM2.17%$2M245.0K
13OSISKO GOLD ROYALTIES LTDCOM1.99%$2M110.0K
14ESOAENERGY SVCS ACQUISITION CORPhistory →COM1.96%$2M259.8K
15180 DEGREE CAP CORPCOM NEW1.54%$1M297.9K
16JOFJAPAN SMALLER CAPITALIZATIONhistory →COM1.48%$1M154.5K
17NECBNORTHEAST CMNTY BANCORP INChistory →COM1.46%$1M65.0K
18NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.45%$1M33.4K
19RNGRGBPRANGER ENERGY SVCS INChistory →COM CL A1.36%$1M105.0K
20PROSHARES TR IIULTRA VIX SHORT1.33%$1M125.0K
21PTBPOTBELLY CORPhistory →COM1.18%$935,31089.8K
22OXYOCCIDENTAL PETE CORPhistory →COM1.13%$895,65015.0K
23NSTSNSTS BANCORP INChistory →COM1.13%$892,16293.8K
24VABKVIRGINIA NATL BANKSHARES CORhistory →COM1.12%$888,51725.8K
25AYS1SANDSTORM GOLD LTDhistory →COM NEW1.11%$880,250175.0K
26EFCUSDELLINGTON FINANCIAL INChistory →COM1.10%$868,34768.3K
27VIZSLA SILVER CORPCOM NEW1.04%$819,505655.6K
28IEIVANHOE ELECTRIC INCCOM0.96%$756,00075.0K
29ODVOSISKO DEVELOPMENT CORPCOM NEW0.89%$706,950242.9K
30FNWDFINWARD BANCORPCOM0.87%$689,58227.3K
31PKSTPEAKSTONE REALTY TRUSTCOMMON SHARES0.86%$677,36134.0K
32ECBKECB BANCORP INCCOM0.80%$634,10450.5K
33TIPTTIPTREE INCCOM0.72%$569,93830.1K
34MQ8MAG SILVER CORPCOM0.66%$520,50050.0K
35LIBERTY MEDIA CORP DELCOM LBTY SRM S A0.65%$513,81417.9K
36SCORCOMSCORE INCCOM NEW0.55%$437,22326.2K
37VOXXGUSDVOXX INTL CORPCL A0.54%$425,45939.8K
38LXULSB INDS INCCOM0.53%$422,67445.4K
39REPXRILEY EXPLORATION PERMIAN INCOM0.47%$370,62713.6K
40FSEAFIRST SEACOAST BANCORP INCCOM0.31%$244,51131.8K
41KRANESHARES TRCICC CN CONSUMER0.27%$210,35014.5K
42UBCPUNITED BANCORP INC OHIOCOM0.24%$192,60015.0K
43GREAT AJAX CORPCOM0.20%$161,92630.6K
44ACDCPROFRAC HLDG CORPCLASS A COM0.16%$127,20015.0K
45CLSTCATALYST BANCORP INCCOMMON STOCK0.14%$114,41610.6K
46WNEBWESTERN NEW ENG BANCORP INCCOM0.14%$109,52112.2K
47AWXAVALON HLDGS CORPCL A0.07%$54,82922.9K

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 ↗.