Raffles Associates LP
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Raffles Associates LP reported 51 stock positions worth $86.1 million. Its top holding was Southern Missouri Bancorp (SMBC) at 12.1% of the portfolio, followed by Eastern Bankshares (EBC, 8.0%) and Ivanhoe Electric Inc. / US (IE, 7.4%). Compared with Q4 2023, it opened 8 new positions, sold out of 4, added to 14 and reduced 9. The biggest buy was Ivanhoe Electric Inc. / US (IE, shares +771%) and the biggest sale an exit from Popular (BPOP).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001169581
- Portfolio Value
- $86.1M (Q1 2024)
- SEC Filing
- 0001062993-24-010345 ↗ filed May 15, 2024
Holdings Value
Holdings 51 stocks · $86.1M
| SMBC Southern Missouri Bancorp | 12.14% | 239,292 | $10.5M | Add +3.0% |
| EBC Eastern Bankshares Inc. | 7.97% | 497,990 | $6.9M | No change |
| IE Ivanhoe Electric Inc. / US | 7.44% | 653,598 | $6.4M | Add +771.5% |
| PROV Provident Financial Hldgs | 6.11% | 393,420 | $5.3M | Add +0.5% |
| OFG Ofg Bancorp | 5.51% | 129,067 | $4.8M | No change |
| LCTX Lineage Cell Therapeutics Inc. | 5.51% | 3,209,981 | $4.8M | Add +50.6% |
| PROSHARES TR | 5.19% | 180,000 | $4.5M | New |
| FBP First Bancorp Puerto Rico | 4.95% | 242,874 | $4.3M | No change |
| AFBI Affinity Bancshares Inc. | 4.83% | 251,560 | $4.2M | No change |
| JOB Gee Group Inc. | 3.90% | 9,348,765 | $3.4M | Add +0.5% |
| VMD Viemed Healthcare Inc. | 3.81% | 347,691 | $3.3M | No change |
| MAYS Mays (j.w.) Inc. | 2.25% | 44,439 | $1.9M | No change |
| NBBK NB Bancorp Inc. | 1.76% | 110,700 | $1.5M | New |
| ESOA Energy Services of America | 1.70% | 177,391 | $1.5M | Reduce -31.7% |
| NSSC Napco Security Technologies | 1.56% | 33,424 | $1.3M | No change |
| TURN 180 Degree Capital Corp. | 1.51% | 302,865 | $1.3M | Add +1.7% |
| RNGR Ranger Energy Services Class A | 1.51% | 115,000 | $1.3M | Add +9.5% |
| JOF Japan Smaller Capitalization | 1.43% | 154,495 | $1.2M | No change |
| NXE Nexgen Energy Ltd. | 1.31% | 145,000 | $1.1M | Reduce -40.8% |
| OR Osisko Gold Royalties Ltd. | 1.28% | 67,000 | $1.1M | Reduce -39.1% |
| VZLA Vizsla Silver Corp. | 1.24% | 805,310 | $1.1M | Add +22.8% |
| NECB Northeast Community Bancorp | 1.19% | 65,000 | $1.0M | No change |
| PROSHARES TR II | 1.17% | 160,000 | $1.0M | Add +28.0% |
| PBPB Potbelly Corp. | 1.05% | 74,761 | $905K | Reduce -16.7% |
| NSTS NSTS Bancorp Inc. | 1.04% | 93,813 | $895K | No change |
| EFC Ellington Financial Inc. | 1.01% | 73,320 | $866K | Add +7.3% |
| VABK Virginia National Bankshares | 0.90% | 25,844 | $778K | No change |
| FNWD Finward Bancorp | 0.78% | 27,321 | $672K | No change |
| ECBK Ecb Bancorp Inc. | 0.76% | 50,486 | $655K | No change |
| PROSHARES ULTRA BLOOMBERG NA | 0.75% | 50,000 | $643K | New |
| CORN Teucrium Corn Fund | 0.73% | 31,208 | $630K | New |
| MAG Mag Silver Corp. | 0.69% | 56,000 | $592K | Add +12.0% |
| TIPT Tiptree Inc. | 0.62% | 30,801 | $532K | Add +2.5% |
| LSXMA Liberty Media Corp. Class A New | 0.62% | 17,878 | $531K | No change |
| PROSHARES TR | 0.61% | 50,000 | $524K | New |
| OSISKO DEVELOPMENT CORP | 0.60% | 242,938 | $517K | No change |
| PKST Peakstone Realty Trust | 0.58% | 30,987 | $500K | Reduce -8.8% |
| FRBA First Bank/Hamilton NJ | 0.53% | 33,521 | $461K | New |
| SAND Sandstorm Gold Ltd. | 0.53% | 86,517 | $454K | Reduce -50.6% |
| SCOR Comscore Inc. | 0.47% | 26,181 | $403K | No change |
| VOXX Voxx International Corp. | 0.38% | 39,837 | $325K | No change |
| BARCLAYS BANK PLC | 0.38% | 25,000 | $324K | New |
| REPX Riley Exploration Permian Inc. | 0.31% | 8,073 | $266K | Reduce -40.7% |
| UBCP United Bancorp Inc. | 0.26% | 15,346 | $222K | Add +2.3% |
| FSEA First Seacoast Bancorp Inc. | 0.23% | 23,796 | $199K | Reduce -25.2% |
| RITHM PPTY TR INC filed as GREAT AJAX CORP | 0.22% | 50,000 | $190K | Add +63.7% |
| LXU LSB Industries Inc. | 0.21% | 20,400 | $179K | Reduce -55.1% |
| VIXY Proshares TR II | 0.19% | 10,000 | $167K | New |
| CLST Catalyst Bancorp Inc. | 0.15% | 10,555 | $125K | No change |
| WNEB Western New England Bancorp | 0.11% | 12,169 | $93K | No change |
| AWX Avalon Holdings Corp. Class A | 0.06% | 22,941 | $51K | No change |
Portfolio Sells Q4 2023 → Q1 2024
| BPOP Popular Inc. | Sold out | 0.00% | −5.67 |
| OXY Occidental Petroleum Corp. | Sold out | 0.00% | −1.13 |
| NXE Nexgen Energy Ltd. | Reduce -40.8% | 1.31% | −0.86 |
| OR Osisko Gold Royalties Ltd. | Reduce -39.1% | 1.28% | −0.71 |
| SAND Sandstorm Gold Ltd. | Reduce -50.6% | 0.53% | −0.59 |
| LXU LSB Industries Inc. | Reduce -55.1% | 0.21% | −0.33 |
| PKST Peakstone Realty Trust | Reduce -8.8% | 0.58% | −0.28 |
| KBUY Kraneshares Cicc China Cons | Sold out | 0.00% | −0.27 |
| ESOA Energy Services of America | Reduce -31.7% | 1.70% | −0.27 |
| ACDC Profrac Holding Corp. Class A | Sold out | 0.00% | −0.16 |
| REPX Riley Exploration Permian Inc. | Reduce -40.7% | 0.31% | −0.16 |
| PBPB Potbelly Corp. | Reduce -16.7% | 1.05% | −0.13 |
| FSEA First Seacoast Bancorp Inc. | Reduce -25.2% | 0.23% | −0.08 |
Portfolio Buys Q4 2023 → Q1 2024
| IE Ivanhoe Electric Inc. / US | Add +771.5% | 7.44% | +6.48 |
| PROSHARES TR | New | 5.19% | +5.19 |
| LCTX Lineage Cell Therapeutics Inc. | Add +50.6% | 5.51% | +2.58 |
| NBBK NB Bancorp Inc. | New | 1.76% | +1.76 |
| PROSHARES ULTRA BLOOMBERG NA | New | 0.75% | +0.75 |
| CORN Teucrium Corn Fund | New | 0.73% | +0.73 |
| PROSHARES TR | New | 0.61% | +0.61 |
| FRBA First Bank/Hamilton NJ | New | 0.53% | +0.53 |
| BARCLAYS BANK PLC | New | 0.38% | +0.38 |
| VZLA Vizsla Silver Corp. | Add +22.8% | 1.24% | +0.21 |
| VIXY Proshares TR II | New | 0.19% | +0.19 |
| RNGR Ranger Energy Services Class A | Add +9.5% | 1.51% | +0.15 |
| MAG Mag Silver Corp. | Add +12.0% | 0.69% | +0.03 |
| RITHM PPTY TR INC | Add +63.7% | 0.22% | +0.02 |
| UBCP United Bancorp Inc. | Add +2.3% | 0.26% | +0.01 |
| TURN 180 Degree Capital Corp. | Add +1.7% | 1.51% | −0.04 |
| EFC Ellington Financial Inc. | Add +7.3% | 1.01% | −0.09 |
| TIPT Tiptree Inc. | Add +2.5% | 0.62% | −0.10 |
| PROV Provident Financial Hldgs | Add +0.5% | 6.11% | −0.13 |
| PROSHARES TR II | Add +28.0% | 1.17% | −0.16 |
| JOB Gee Group Inc. | Add +0.5% | 3.90% | −1.98 |
| SMBC Southern Missouri Bancorp | Add +3.0% | 12.14% | −3.54 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 48 | $117.3M | SMBC, GLIBK, EBC, CBK, LCTX |
| Q1 2026 | 49 | $115.3M | SMBC, LCTX, EBC, CBK, PROV |
| Q4 2025 | 54 | $133.3M | SMBC, IE, VZLA, LCTX, EBC |
| Q3 2025 | 49 | $107.4M | SMBC, LCTX, IE, VZLA, EBC |
| Q2 2025 | 48 | $96.0M | SMBC, IE, PROV, EBC, OFG |
| Q1 2025 | 43 | $82.1M | SMBC, IE, EBC, PROV, OFG |
| Q4 2024 | 49 | $92.8M | SMBC, IE, PROV, EBC, OFG |
| Q3 2024 | 48 | $97.4M | SMBC, IE, EBC, PROV, OFG |
| Q2 2024 | 52 | $88.8M | SMBC, EBC, IE, OFG, PROV |
| Q1 2024 | 51 | $86.1M | SMBC, EBC, IE, PROV, OFG |