RAFFLES ASSOCIATES LP

CIK

1169581

Location

NEW YORK, NY

Portfolio Value

Micro $99,285,734

Diversification

Diversified

Filing Date

Global Rank

#5,741 / 8,604 ▼ 79 · as of Mar 2026

Top Industry

Banks - Regional 56.7%

3Y Alpha vs SPY

+2.0%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+86.0%

SPY

+76.5%

Annualised alpha

+2.1%

Max drawdown

−26.3%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

41 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

14.4%

+2.4 pts

Top 5

43.5%

+1.1 pts

Top 10

68.9%

+4.1 pts

HHI

605

Diversified+65

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	59.4%	$58,942,299	23
Basic Materials	13.0%	$12,887,645	4
Healthcare	12.4%	$12,283,299	2
Industrials	9.1%	$9,070,942	7
Energy	2.2%	$2,190,000	2
Communication Services	2.2%	$2,144,084	2
Real Estate	1.8%	$1,767,465	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
PERI	Perion Network Ltd.	+75,279	170,279	$1,701,087
EBC	Eastern Bankshares, Inc.	+35,000	394,788	$7,722,053
OFG	Ofg Bancorp	+20,000	140,067	$5,667,110
TIPT	Tiptree Inc.	+15,000	55,801	$944,152
HHS	Harte Hanks Inc	+2	87,757	$199,208
No positions match the current search.

Trimmed

Positions the filer reduced

17 positions

Ticker	Company	Δ Shares	Shares	Value
VZLA	Vizsla Silver Corp.	−150,000	1,504,010	$4,963,233
ABTC	American Bitcoin Corp.	−145,000	555,000	$512,820
NXE	NexGen Energy Ltd.	−125,000	50,000	$580,000
FBP	First Bancorp /Pr/	−101,000	31,874	$680,828
JOB	GEE Group Inc.	−59,041	9,449,696	$2,267,927
IE	Ivanhoe Electric Inc.	−41,000	532,077	$6,289,150
KELYA	Kelly Services Inc	−36,790	50,000	$442,500
ESOA	Energy Services of America CORP	−29,000	170,392	$2,237,246
JOF	Japan Smaller Capitalization Fund Inc	−28,495	110,967	$1,209,540
ASLE	AerSale Corp	−20,000	460,000	$2,861,200
NBBK	NB Bancorp, Inc.	−13,500	14,874	$313,395
VMD	Viemed Healthcare, Inc.	−4,000	413,691	$3,810,094
SMBC	Southern Missouri Bancorp, Inc.	−2,449	222,885	$14,251,266
CBK	Commercial Bancgroup, Inc.	−1,742	248,258	$6,459,673
ECBK	ECB Bancorp, Inc. /MD/	−854	13,399	$224,165
PROV	Provident Financial Holdings Inc	−121	391,118	$6,304,822
VABK	Virginia National Bankshares Corp	−24	18,812	$718,618
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
FMNB	Farmers National Banc Corp /Oh/	15,000	$197,400
AP	Ampco Pittsburgh Corp	15,000	$100,800
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
UUP	Invesco DB US Dollar Index Bullish Fund	125,000	$3,378,750
PKST	Peakstone Realty Trust	97,078	$1,393,069
VG	Venture Global, Inc.	100,000	$682,000
ALTO	Alto Ingredients, Inc.	100,000	$288,000
GFR	Greenfire Resources Ltd.	10,444	$49,713
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

41 positions · $99,285,734 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Energy Financial Services Healthcare Industrials Real Estate

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SMBC	Southern Missouri Bancorp, Inc. Financial Services	Reduced	222,885	-2,449	$14,251,266	+7.0%	14.35%
LCTX	Lineage Cell Therapeutics, Inc. Healthcare	Held	5,362,788	0	$8,473,205	−5.4%	8.53%
EBC	Eastern Bankshares, Inc. Financial Services	Added	394,788	+35,000	$7,722,053	+16.5%	7.78%
CBK	Commercial Bancgroup, Inc. Financial Services	Reduced	248,258	-1,742	$6,459,673	+5.2%	6.51%
PROV	Provident Financial Holdings Inc Financial Services	Reduced	391,118	-391,360	$6,304,822	−49.4%	6.35%
IE	Ivanhoe Electric Inc. Basic Materials	Reduced	532,077	-41,000	$6,289,150	−31.3%	6.33%
OFG	Ofg Bancorp Financial Services	Added	140,067	+20,000	$5,667,110	+15.2%	5.71%
VZLA	Vizsla Silver Corp. Basic Materials	Reduced	1,504,010	-150,000	$4,963,233	−45.1%	5.00%
AFBI	Affinity Bancshares, Inc. Financial Services	Held	198,842	0	$4,426,222	+8.7%	4.46%
VMD	Viemed Healthcare, Inc. Healthcare	Reduced	413,691	-4,000	$3,810,094	+22.8%	3.84%
COSO	CoastalSouth Bancshares, Inc. Financial Services	Held	121,281	0	$2,982,299	+5.8%	3.00%
ASLE	AerSale Corp Industrials	Reduced	460,000	-20,000	$2,861,200	−16.2%	2.88%
JOB	GEE Group Inc. Industrials	Reduced	9,449,696	-59,041	$2,267,927	+19.3%	2.28%
ESOA	Energy Services of America CORP Industrials	Reduced	170,392	-29,000	$2,237,246	+37.3%	2.25%
MAYS	Mays J W Inc Real Estate	Held	44,431	0	$1,767,465	−0.4%	1.78%
PERI	Perion Network Ltd. Communication Services	Added	170,279	+75,279	$1,701,087	+86.9%	1.71%
MNR	Mach Natural Resources LP Energy	Held	115,000	0	$1,610,000	+26.8%	1.62%
MBBC	Marathon Bancorp, Inc. /MD/ Financial Services	Held	107,664	0	$1,456,693	+11.3%	1.47%
NECB	NorthEast Community Bancorp, Inc./MD/ Financial Services	Held	59,500	0	$1,416,100	+5.3%	1.43%
CTGO	Contango Silver & Gold Inc. Basic Materials	Held	71,406	0	$1,338,862	−29.0%	1.35%
FBLA	FB Bancorp, Inc. /MD/ Financial Services	Held	97,099	0	$1,334,140	+6.9%	1.34%
JOF	Japan Smaller Capitalization Fund Inc Financial Services	Reduced	110,967	-28,495	$1,209,540	−21.7%	1.22%
FNWD	Finward Bancorp Financial Services	Held	26,580	0	$964,854	+3.2%	0.97%
NSSC	Napco Security Technologies, Inc Industrials	Held	24,424	0	$962,061	−5.5%	0.97%
TIPT	Tiptree Inc. Financial Services	Added	55,801	+15,000	$944,152	+26.7%	0.95%
VABK	Virginia National Bankshares Corp Financial Services	Reduced	18,812	-24	$718,618	−4.3%	0.72%
FBP	First Bancorp /Pr/ Financial Services	Reduced	31,874	-101,000	$680,828	−75.3%	0.69%
NXE	NexGen Energy Ltd. Energy	Reduced	50,000	-125,000	$580,000	−64.0%	0.58%
ABTC	American Bitcoin Corp. Financial Services	Reduced	555,000	-145,000	$512,820	−56.9%	0.52%
SIRI	Sirius Xm Holdings Inc. Communication Services	Held	19,194	0	$442,997	+15.4%	0.45%
KELYA	Kelly Services Inc Industrials	Reduced	50,000	-36,790	$442,500	−42.1%	0.45%
NWFL	Norwood Financial Corp Financial Services	Held	12,449	0	$366,249	+4.9%	0.37%
HYNE	Hoyne Bancorp, Inc. Financial Services	Held	23,897	0	$345,909	−0.1%	0.35%
NBBK	NB Bancorp, Inc. Financial Services	Reduced	14,874	-13,500	$313,395	−44.3%	0.32%
IAUX	i-80 Gold Corp. Basic Materials	Held	195,000	0	$296,400	+4.1%	0.30%
UBCP	United Bancorp Inc /Oh/ Financial Services	Held	17,699	0	$269,201	+6.0%	0.27%
ECBK	ECB Bancorp, Inc. /MD/ Financial Services	Reduced	13,399	-854	$224,165	−9.6%	0.23%
HHS	Harte Hanks Inc Industrials	Added	87,757	+2	$199,208	−24.6%	0.20%
FMNB	Farmers National Banc Corp /Oh/ Financial Services	NEW	15,000	NEW	$197,400	NEW	0.20%
CLST	Catalyst Bancorp, Inc. Financial Services	Held	10,555	0	$174,790	+5.1%	0.18%
AP	Ampco Pittsburgh Corp Industrials	NEW	15,000	NEW	$100,800	NEW	0.10%