RAFFLES ASSOCIATES LP
Sector Allocation
- Financials52.8%$58.3M
- Other19.0%$21.0M
- Materials11.2%$12.4M
- Healthcare4.2%$4.6M
- Technology2.9%$3.2M
- Industrials2.6%$2.9M
- Consumer Discretionary2.6%$2.9M
- Energy2.5%$2.8M
- Real Estate1.6%$1.7M
- Communication Services0.5%$566,991
AUM History
13fpro.ai/research/fund/raffles-associates-lp-1169581
Conviction and streaks
Concentrating · top 10 = 66.4%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
SMBC
$16.1M- LIBERTY$12.2M
EBC
$8.3MCBK
$7.5MPROV
$6.7MOFG
$5.0MVZLA
$4.8MVMD
$4.6MIE
$4.6M- PROSHARES$3.5M
COSO
$3.0MASLE
$2.9MESOA
$2.8MPERI
$2.3MJOB
$2.0MCTGO
$1.8MMAYS
$1.7MNECB
$1.7MMBBC
$1.6M- ADVISORSHARES$1.5M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/raffles-associates-lp-1169581
RAFFLES ASSOCIATES LP 13F holdings — Q2 2026
$110.5M portfolio (-4.1% QoQ) · 47 holdings · Q2 2026 13F · top 10 are 66% of the stock portfolio
$16.1M
14.6% of stocks
-5%This quarter-5.9%Since filed10+ qtrsHeldAIQuality59.9#900Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row- 2
LIBERTY CAP CORP - SER C GCI GROUP
$12.2M
11.1% of stocks
+288%This quarter—Since filed—HeldAIQuality—Est. buy— $8.3M
7.5% of stocks
-5%This quarter-4.7%Since filed10+ qtrsHeld$7.5M
6.8% of stocks
-6%This quarter-9.3%Since filed3 qtrsHeld$6.7M
6.1% of stocks
No changeThis quarter+1.0%Since filed10+ qtrsHeld$5.0M
4.5% of stocks
-27%This quarter-4.5%Since filed10+ qtrsHeld$4.8M
4.3% of stocks
-3%This quarter-18.4%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 3 qtrs in a row$4.6M
4.2% of stocks
-2%This quarter+5.8%Since filed10+ qtrsHeld$4.6M
4.2% of stocks
-10%This quarter-26.0%Since filed10+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 6 qtrs in a row- 10
PROSHARES TR II - ULTRA VIX SHORT
$3.5M
3.1% of stocks
NewThis quarter—Since filedNew this quarterHeldAIQuality—Est. buy—
All holdings — RAFFLES ASSOCIATES LP (Q2 2026)
47 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | CoastalSouth Bancshares, Inc. | Financials | $3.0M | 2.7% | 112K | -8% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | AerSale Corp | Consumer Discretionary | $2.9M | 2.6% | 460K | — | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Energy Services of America CORP | Energy | $2.8M | 2.5% | 144K | -15% | 10+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | Perion Network Ltd. | Technology | $2.3M | 2.1% | 236K | +38% | 4 qtrsAdded 4 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | GEE Group Inc. | Industrials | $2.0M | 1.8% | 9.40M | -0.5% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | Contango Silver & Gold Inc. | Materials | $1.8M | 1.6% | 113K | +58% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | MAYS J W INC | Real Estate | $1.7M | 1.6% | 44K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | NorthEast Community Bancorp, Inc./MD/ | Financials | $1.7M | 1.5% | 60K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Marathon Bancorp, Inc. /MD/ | Financials | $1.6M | 1.5% | 108K | — | 5 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | — | ADVISORSHARES TR - PURE US CANN ETFetf/fund | — | $1.5M | 1.4% | 295K | -54% | — | — | 13F |
| 21 | FB Bancorp, Inc. /MD/ | Financials | $1.5M | 1.3% | 97K | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | JAPAN SMALLER CAPITALIZATION FUND INC | Other | $1.3M | 1.2% | 111K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | — | PROSHARES TR II - ULTRASHORT GOLDetf/fund | — | $1.1M | 1.0% | 40K | -69% | — | — | 13F |
| 24 | TIPTREE INC. | Financials | $1000K | 0.9% | 56K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Finward Bancorp | Financials | $978K | 0.9% | 27K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $NXE | NexGen Energy Ltd. | Materials | $939K | 0.8% | 100K | +100% | |||
| 27 | $AFBI | Affinity Bancshares, Inc. | Financials | $932K | 0.8% | 41K | -79% | |||
| 28 | $NSSC | NAPCO SECURITY TECHNOLOGIES, INC | Technology | $928K | 0.8% | 24K | — | |||
| 29 | $VABK | Virginia National Bankshares Corp | Financials | $834K | 0.8% | 19K | -0.1% | |||
| 30 | $NSTS | NSTS Bancorp, Inc. | Financials | $779K | 0.7% | 57K | -40% | |||
| 31 | $NBBK | NB Bancorp, Inc. | Financials | $673K | 0.6% | 32K | +114% | |||
| 32 | — | ADVISORSHARES TR - MSOS DAILY LVRGD | — | $656K | 0.6% | 196K | New | |||
| 33 | $KELYA | KELLY SERVICES INC | Industrials | $614K | 0.6% | 50K | — | |||
| 34 | $SIRI | SIRIUS XM HOLDINGS INC. | Communication Services | $567K | 0.5% | 19K | — | |||
| 35 | — | TRULIEVE CANNABIS CORP - SUB VTG SHS | — | $492K | 0.4% | 50K | New | |||
| 36 | $NWFL | NORWOOD FINANCIAL CORP | Financials | $352K | 0.3% | 11K | -12% | |||
| 37 | $ABTC | American Bitcoin Corp. | Financials | $327K | 0.3% | 480K | -14% | |||
| 38 | — | DIREXION SHARES ETF TRUST - DAILY SMALL CAP | — | $284K | 0.3% | 75K | New | |||
| 39 | $UBCP | UNITED BANCORP INC /OH/ | Financials | $281K | 0.3% | 18K | — | |||
| 40 | $IAUX | i-80 Gold Corp. | Materials | $281K | 0.3% | 195K | — | |||
| 41 | $ECBK | ECB Bancorp, Inc. /MD/ | Financials | $266K | 0.2% | 13K | -1% | |||
| 42 | $FMNB | FARMERS NATIONAL BANC CORP /OH/ | Financials | $219K | 0.2% | 15K | — | |||
| 43 | $HHS | HARTE HANKS INC | Industrials | $190K | 0.2% | 88K | — | |||
| 44 | $CLST | Catalyst Bancorp, Inc. | Financials | $174K | 0.2% | 11K | — | |||
| 45 | $AP | AMPCO PITTSBURGH CORP | Industrials | $130K | 0.1% | 15K | — | |||
| 46 | $AWX | AVALON HOLDINGS CORP | Utilities | $65K | 0.1% | 26K | +3% | |||
| 47 | $BRBS | BLUE RIDGE BANKSHARES, INC. | Financials | $40K | 0.0% | 11K | New |
What changed in Q2 2026
Against the previous quarter's 13F: 5 new, 6 added to, 18 trimmed, 7 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
- PROSHARES TR II - ULTRA VIX SHORT$3.5M
first bought this quarter
- ADVISORSHARES TR - MSOS DAILY LVRGD$656K
first bought this quarter
- TRULIEVE CANNABIS CORP - SUB VTG SHS$492K
first bought this quarter
- DIREXION SHARES ETF TRUST - DAILY SMALL CAP$284K
first bought this quarter
$BRBSBLUE RIDGE BANKSHARES, INC.$40K
first bought this quarter
Added to (6)
- LIBERTY CAP CORP - SER C GCI GROUP+288%
now $12.2M
now $1.8M · held 9 qtrs
now $2.3M · held 4 qtrs, 4 adds in a row
$NXENexGen Energy Ltd.+100%
now $939K · held 10+ qtrs
$NBBKNB Bancorp, Inc.+114%
now $673K · held 10+ qtrs
$AWXAVALON HOLDINGS CORP+3%
now $65K · held 10+ qtrs
Trimmed (18)
$AFBIAffinity Bancshares, Inc.-79%
now $932K · held 10+ qtrs
- PROSHARES TR II - ULTRASHORT GOLD-69%
now $1.1M
now $5.0M · held 10+ qtrs
- ADVISORSHARES TR - PURE US CANN ETF-54%
now $1.5M
now $16.1M · held 10+ qtrs, 3 trims in a row
now $4.6M · held 10+ qtrs, 6 trims in a row
+12 more in the Excel export
Holdings by quarter
Every 13F RAFFLES ASSOCIATES LP has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow RAFFLES ASSOCIATES?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of RAFFLES ASSOCIATES's top 20 holdings: 50/100 (our AI quality score, weighted by position size; 14 of the 20 are scored)
Top 10 since filing
-7.3%
Value-weighted move of the 10 largest stock positions
Turnover
14%
Last quarter; 42% over the last 4
Top 10 weight
66%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
91%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
RAFFLES ASSOCIATES LP disclosed 47 positions worth $110.5M in its Form 13F-HR for Q2 2026, led by $SMBC (SOUTHERN MISSOURI BANCORP, INC.) at 14.6% of the equity portfolio. During the quarter the fund opened 5 new positions and exited 7 and a full exit from $LCTX. The portfolio is most concentrated in Financials (52.8% of disclosed assets). All figures are sourced directly from RAFFLES ASSOCIATES LP’s Form 13F-HR filing with the SEC under CIK 1169581.
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