RAFFLES ASSOCIATES LP

CIK

1169581

Location

NEW YORK, NY

Portfolio Value

Micro $12,887,645

Diversification

Diversified

Filing Date

Global Rank

#5,733 / 8,586 ▼ 69

Top Industry

Banks - Regional 56.6%

3Y Alpha vs SPY

-0.6%

Period ended 3 months ago

Filed May 15, 2026 · 33d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+75.5%

SPY

+78.1%

Annualised alpha

-0.6%

Max drawdown

−26.4%

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

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

Top Position

14.4%

+2.4 pts

Top 5

43.6%

+1.1 pts

Top 10

69.0%

+4.1 pts

HHI

608

Diversified+65

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	59.3%	$58,767,509	22
Basic Materials	13.0%	$12,887,645	4
Healthcare	12.4%	$12,283,299	2
Industrials	9.2%	$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

4 positions · $12,887,645 total · Basic Materials only · 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
IE	Ivanhoe Electric Inc. Basic Materials	Reduced	532,077	-41,000	$6,289,150	−31.3%	48.80%
VZLA	Vizsla Silver Corp. Basic Materials	Reduced	1,504,010	-150,000	$4,963,233	−45.1%	38.51%
CTGO	Contango Silver & Gold Inc. Basic Materials	Held	71,406	0	$1,338,862	−29.0%	10.39%
IAUX	i-80 Gold Corp. Basic Materials	Held	195,000	0	$296,400	+4.1%	2.30%