SEC 13F Intelligence

Managers / Q1 2024 · view latest →

RAFFLES ASSOCIATES LP

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

Reported Value
$86M
Q1 2024
Positions
51
Filings on Record
30
2019–present window
Filed
May 15, 2024
original filing

Summary

Raffles Associates LP reported $86M in U.S.-listed holdings across 51 positions for Q1 2024.

Its largest position, SMBC, represents 12.1% of the portfolio.

Compared with Q4 2023, the fund opened 8 new positions and exited 4.

Portfolio Metrics

Turnover
+14.7%
vs prior filed quarter
Top-10 Concentration
+63.6%
share of reported value
Largest Position
+12.1%
Southern Mo Bancorp
New / Exited
8 / 4
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: 85.4%Other: 9.0%Closed-End Fund: 2.9%ETP: 1.5%Tracking Stk: 0.6%Other: 0.6%
  • Common Stock · 85.4% · $74M
  • Other · 9.0% · $8M
  • Closed-End Fund · 2.9% · $3M
  • ETP · 1.5% · $1M
  • Tracking Stk · 0.6% · $530,977
  • Other · 0.6% · $499,820

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PROSHARES TRNEW+180.0K180.0K+$4M$4M
NBBKNB BANCORP INCNEW+110.7K110.7K+$2M$2M
PROSHARES TR IINEW+50.0K50.0K+$643,000$643,000
TEUCRIUM COMMODITY TRNEW+31.2K31.2K+$629,777$629,777
PROSHARES TRNEW+50.0K50.0K+$524,000$524,000
FIRST BK WILLIAMSTOWN NEW JENEW+33.5K33.5K+$460,579$460,579
BARCLAYS BANK PLCNEW+25.0K25.0K+$324,250$324,250
PROSHARES TR IINEW+10.0K10.0K+$167,100$167,100

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

Holdings — Q1 2024

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SMBCSOUTHERN MO BANCORP INChistory →COM12.14%$10M239.3K
2EBCEASTERN BANKSHARES INChistory →COM7.97%$7M498.0K
3IEIVANHOE ELECTRIC INChistory →COM7.44%$6M653.6K
4PROVPROVIDENT FINL HLDGS INChistory →COM6.11%$5M393.4K
5PROSHARES TRULTRASHRT S&P500 · ULTRAPRO SHT QQQ5.80%$5M230.0K
6OFGOFG BANCORPhistory →COM5.51%$5M129.1K
7LCTXLINEAGE CELL THERAPEUTICS INhistory →COM5.51%$5M3.21M
8FBPFIRST BANCORP P Rhistory →COM NEW4.94%$4M242.9K
9AFBIAFFINITY BANCSHARES INChistory →COM4.83%$4M251.6K
10JOBGEE GROUP INChistory →COM3.90%$3M9.35M
11VMDVIEMED HEALTHCARE INChistory →COM3.81%$3M347.7K
12MAYSMAYS J W INChistory →COM2.25%$2M44.4K
13PROSHARES TR IIULTRA VIX SHORT · ULTRA BLOOMBERG · PSHS ULSSLVR NEW2.11%$2M220.0K
14NBBKNB BANCORP INChistory →COM1.76%$2M110.7K
15ESOAENERGY SVCS ACQUISITION CORPhistory →COM1.70%$1M177.4K
16NSSCNAPCO SEC TECHNOLOGIES INChistory →COM1.56%$1M33.4K
17180 DEGREE CAP CORPCOM NEW1.51%$1M302.9K
18RNGRGBPRANGER ENERGY SVCS INChistory →COM CL A1.51%$1M115.0K
19JOFJAPAN SMALLER CAPITALIZATIONhistory →COM1.43%$1M154.5K
20NXENEXGEN ENERGY LTDhistory →COM1.31%$1M145.0K
21OSISKO GOLD ROYALTIES LTDCOM1.28%$1M67.0K
22VIZSLA SILVER CORPCOM NEW1.24%$1M805.3K
23NECBNORTHEAST CMNTY BANCORP INChistory →COM1.19%$1M65.0K
24PTBPOTBELLY CORPhistory →COM1.05%$905,35674.8K
25NSTSNSTS BANCORP INChistory →COM1.04%$894,97693.8K
26EFCUSDELLINGTON FINANCIAL INChistory →COM1.01%$865,90973.3K
27VABKVIRGINIA NATL BANKSHARES CORCOM0.90%$777,90425.8K
28FNWDFINWARD BANCORPCOM0.78%$672,09727.3K
29ECBKECB BANCORP INCCOM0.76%$655,30850.5K
30TEUCRIUM COMMODITY TRCORN FD SHS0.73%$629,77731.2K
31MQ8MAG SILVER CORPCOM0.69%$592,48056.0K
32TIPTTIPTREE INCCOM0.62%$532,24130.8K
33LIBERTY MEDIA CORP DELCOM LBTY SRM S A0.62%$530,97717.9K
34ODVOSISKO DEVELOPMENT CORPCOM NEW0.60%$517,458242.9K
35PKSTPEAKSTONE REALTY TRUSTCOMMON SHARES0.58%$499,82031.0K
36FIRST BK WILLIAMSTOWN NEW JECOM0.53%$460,57933.5K
37AYS1SANDSTORM GOLD LTDCOM NEW0.53%$454,21486.5K
38SCORCOMSCORE INCCOM NEW0.47%$403,18726.2K
39VOXXGUSDVOXX INTL CORPCL A0.38%$325,07039.8K
40BARCLAYS BANK PLCIPTH SR B S&P0.38%$324,25025.0K
41REPXRILEY EXPLORATION PERMIAN INCOM0.31%$266,4098.1K
42UBCPUNITED BANCORP INC OHIOCOM0.26%$222,05715.3K
43FSEAFIRST SEACOAST BANCORP INCCOM0.23%$199,41023.8K
44GREAT AJAX CORPCOM0.22%$190,00050.0K
45LXULSB INDS INCCOM0.21%$179,11220.4K
46CLSTCATALYST BANCORP INCCOMMON STOCK0.15%$125,07710.6K
47WNEBWESTERN NEW ENG BANCORP INCCOM0.11%$93,33612.2K

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 ↗.