RA

Raffles Associates LP

Diversified strategySector-focusedMomentum follower

Total reported value

$115.3M

Reporting period: 2026-03-31 · Number of holdings: 49

RAFFLES ASSOCIATES LP disclosed 49 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $115.3M and a quarterly turnover rate of 34.9%.

Personality snowflake

Concentration
19.48
Portfolio Stability
34.92
Momentum/Contrarian
100
Sector conviction
100
Diversification
98
Sizing Uniformity
88.1

Recent moves

  • Trim VZLA

    -9.1%　-$4.1M

  • Add SMBC

    -1.1%　$929.5K

  • Trim GLL

    -42.2%　-$3.3M

  • Add EBC

    +9.7%　$1.1M

  • Trim FBP

    -76.0%　-$2.1M

  • Trim IE

    -7.2%　-$2.9M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1SMBCSouthern Missouri BancorpStock-Other12.36%+2.37%-1.09%
2LCTXLineage Cell Therapeutics InStock-Other7.35%+0.63%—
3EBCEastern Bankshares INCStock-Other6.70%+1.73%+9.73%
4CBKCommercial Bancgroup INCStock-Other5.60%+0.99%-0.70%
5PROVProvident Financial HldgsStock-Other5.47%+0.80%-0.03%
6IEIvanhoe Electric INC / USStock-Other5.46%-1.41%-7.15%
7OFGOfg BancorpStock-Other4.92%+1.23%+16.66%
8GLIBKLiberty Capital Corp-cl CStock-Other4.72%+0.86%+5.79%
9VZLAVizsla Silver CORPStock-Other4.31%-2.48%-9.07%
10AFBIAffinity Bancshares INCStock-Other3.84%+0.79%—
11VMDViemed Healthcare INCStock-Other3.31%+0.98%-0.96%
12COSOCoastal South Bancshares INCStock-Other2.59%+0.47%—
13ASLEAersale CORPStock-Other2.48%-0.08%-4.17%
14GLLProshares Ultrashort GoldETF-Commodities2.28%-2.13%-42.22%
15MSOSAdvisorshares Pure US CannETF-Other1.97%+0.57%+62.03%
16JOBGee Group INCStock-Other1.97%+0.58%-0.62%
17ESOAEnergy Services Of AmericaStock-Other1.94%+0.72%-14.54%
18JETSUS Global Jets ETFETF-Other1.60%+1.60%NEW
19TMFDir Dly 20+yr Tr Bl3x Etf-uiETF-Other1.56%+1.56%NEW
20MAYSMays (j.w.) INCStock-Other1.53%——
21PERIPerion Network Ltd.Stock-Other1.48%+0.80%+79.24%
22MNRMach Natural Resources LPStock-Other1.40%+0.45%—
23MBBCMarathon Bancorp INCStock-Other1.26%+0.28%—
24NECBNortheast Community BancorpStock-Other1.23%+0.22%—
25CTGOContango Silver & Gold INCStock-Other1.16%-0.25%—
26FBLAFb Bancorp INCStock-Other1.16%+0.22%—
27JOFJapan Smaller CapitalizationStock-Other1.05%-0.11%-20.43%
28NSTSNsts Bancorp INCStock-Other0.95%+0.04%—
29FNWDFinward BancorpStock-Other0.84%——
30NSSCNapco Security TechnologiesStock-Other0.83%+0.07%—
31TIPTTiptree INCStock-Other0.82%+0.26%+36.76%
32SCOUSDProshares Ultrashort BloombeETF-Other0.72%+0.72%NEW
33VABKVirginia National BanksharesStock-Other0.62%+0.06%-0.13%
34FBPFirst Bancorp Puerto RicoStock-Other0.59%-1.48%-76.01%
35NXENexgen Energy LTDStock-Other0.50%-0.71%-71.43%
36ABTCAmerican Bitcoin Corp-aStock-Other0.45%-0.44%-20.71%
37SIRISirius Xm Holdings INCStock-Comm Services0.38%+0.09%—
38KELYAKelly Services INC -aStock-Other0.38%-0.19%-42.39%
39NWFLNorwood Financial CORPStock-Other0.32%——
40HYNEHoyne Bancorp INCStock-Other0.30%——
41NBBKNb Bancorp INCStock-Other0.27%-0.15%-47.58%
42IAUXI-80 Gold CORPStock-Other0.26%——
43UBCPUnited Bancorp Inc/ohioStock-Other0.23%——
44ECBKEcb Bancorp INCStock-Other0.19%—-5.99%
45HHSHarte-hanks INCStock-Other0.17%-0.03%+0.00%
46FMNBFarmers Natl Banc CORPStock-Other0.17%+0.17%NEW
47CLSTCatalyst Bancorp INCStock-Other0.15%——
48APAmpco-pittsburgh CORPStock-Other0.09%+0.09%NEW
49AWXAvalon Holdings Corp-aStock-Other0.06%——

Holding changes this quarter

Raffles Associates LP's most significant position changes for 2026-03-31: Sold out: Proshares Ultra Vix St Futur (UVXY); Sold out: Invesco Db US Dollar Index B (UUP); New buy: US Global Jets ETF (JETS); New buy: Dir Dly 20+yr Tr Bl3x Etf-ui (TMF); Sold out: Dir Dly Gol Mn Idx Br 2x ETF (DUSTUSD).

Position changes disclosed by Raffles Associates LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1SMBCSouthern Missouri Bancorp+2.4%-1.09%Trim
2EBCEastern Bankshares INC+1.7%+9.73%Add
3OFGOfg Bancorp+1.2%+16.66%Add
4CBKCommercial Bancgroup INC+1%-0.70%Trim
5VMDViemed Healthcare INC+1%-0.96%Trim
6GLIBKLiberty Capital Corp-cl C+0.9%+5.79%Add
7PERIPerion Network Ltd.+0.8%+79.24%Add
8PROVProvident Financial Hldgs+0.8%-0.03%Trim
9AFBIAffinity Bancshares INC+0.8%—Unchanged
10ESOAEnergy Services Of America+0.7%-14.54%Trim
11LCTXLineage Cell Therapeutics In+0.6%—Unchanged
12JOBGee Group INC+0.6%-0.62%Trim
13MSOSAdvisorshares Pure US Cann+0.6%+62.03%Add
14COSOCoastal South Bancshares INC+0.5%—Unchanged
15MNRMach Natural Resources LP+0.5%—Unchanged
16MBBCMarathon Bancorp INC+0.3%—Unchanged
17TIPTTiptree INC+0.3%+36.76%Add
18FBLAFb Bancorp INC+0.2%—Unchanged
19NECBNortheast Community Bancorp+0.2%—Unchanged
20SIRISirius Xm Holdings INC+0.1%—Unchanged
21NSSCNapco Security Technologies+0.1%—Unchanged
22VABKVirginia National Bankshares+0.1%-0.13%Trim
23NSTSNsts Bancorp INC0%—Unchanged
24HHSHarte-hanks INC0%+0.00%Add
25ASLEAersale CORP-0.1%-4.17%Trim
26JOFJapan Smaller Capitalization-0.1%-20.43%Trim
27NBBKNb Bancorp INC-0.2%-47.58%Trim
28KELYAKelly Services INC -a-0.2%-42.39%Trim
29CTGOContango Silver & Gold INC-0.3%—Unchanged
30ABTCAmerican Bitcoin Corp-a-0.4%-20.71%Trim
31NXENexgen Energy LTD-0.7%-71.43%Trim
32IEIvanhoe Electric INC / US-1.4%-7.15%Trim
33FBPFirst Bancorp Puerto Rico-1.5%-76.01%Trim
34GLLProshares Ultrashort Gold-2.1%-42.22%Trim
35VZLAVizsla Silver CORP-2.5%-9.07%Trim
36UVXYProshares Ultra Vix St Futur—EXITSold out
37UUPInvesco Db US Dollar Index B—EXITSold out
38JETSUS Global Jets ETF—NEWNew buy
39TMFDir Dly 20+yr Tr Bl3x Etf-ui—NEWNew buy
40DUSTUSDDir Dly Gol Mn Idx Br 2x ETF—EXITSold out
41PKSTPeakstone Realty Trust—EXITSold out
42VXXIpath Series B S&p 500 Vix—EXITSold out
43JDSTGBPDir Dly Jun Gm Ib 2x Etf-usd—EXITSold out
44SCOUSDProshares Ultrashort Bloombe—NEWNew buy
45VGVenture Global Inc-cl A—EXITSold out
46ALTOAlto Ingredients INC—EXITSold out
47✓ —EXITSold out
48FMNBFarmers Natl Banc CORP—NEWNew buy
49APAmpco-pittsburgh CORP—NEWNew buy
50GFRGreenfire Resources LTD—EXITSold out

FAQ

What is Raffles Associates LP and what type of investor is it?
Raffles Associates LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $115.3M, spread across 49 disclosed positions.
What are Raffles Associates LP's largest equity positions?
Based on the latest 13F filing, Raffles Associates LP's top holdings by market value are: 1. Southern Missouri Bancorp (SMBC) — $14.3M (12.4%) 2. Lineage Cell Therapeutics In (LCTX) — $8.5M (7.3%) 3. Eastern Bankshares INC (EBC) — $7.7M (6.7%) 4. Commercial Bancgroup INC (CBK) — $6.5M (5.6%) 5. Provident Financial Hldgs (PROV) — $6.3M (5.5%)
What changes did Raffles Associates LP make in its most recent portfolio filing?
In the latest reported quarter, Raffles Associates LP made 39 notable position adjustments: 5 new positions were initiated, 7 existing holdings were added to, 17 positions were partially reduced, and 10 were completely exited. The largest of these moves: Sold out: Proshares Ultra Vix St Futur (UVXY); Sold out: Invesco Db US Dollar Index B (UUP); New buy: US Global Jets ETF (JETS); New buy: Dir Dly 20+yr Tr Bl3x Etf-ui (TMF); Sold out: Dir Dly Gol Mn Idx Br 2x ETF (DUSTUSD)
What sectors does Raffles Associates LP focus on?
Raffles Associates LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Communication Services: 100.0%