Raffles Associates LP
NEW YORK, NY
$228m in 48 US stocks at the end of 30 June 2026. The top 10 are 64.4% of the money. It changed about 18.3% of the portfolio this quarter.
Value
$228m
Stocks
48
Top 10 share
64.4%
Turnover
18.3%
What changed this quarter
New
Bought for the first time this quarter.
- Proshares TR IIUVXY3.1% of the fund
- Advisorshares TRMSOX0.6% of the fund
- Trulieve CannabisTRLV0.4% of the fund
- Direxion Shares ETF Trust0.2% of the fund
- Blue Ridge BanksharesBRBS<0.1% of the fund
Added
Bought more of a stock they already held.
- Southern Missouri BancorpSMBC14.1% of the fund+89%
- Liberty CapitalGLIBK10.7% of the fund+677%
- Eastern BanksharesEBC7.3% of the fund+90%
- Commercial BancgroupCBK6.6% of the fund+88%
- Provident Financial HoldingsPROV5.9% of the fund+100%
- OFG BancorpOFG4.4% of the fund+46%
- Vizsla SilverVZLA4.2% of the fund+93%
- Viemed HealthcareVMD4.0% of the fund+95%
- Ivanhoe ElectricIE4.0% of the fund+79%
- CoastalSouth BancsharesCOSO2.6% of the fund+85%
- AerSaleASLE2.6% of the fund+100%
- Energy Services of AmericaESOA2.5% of the fund+69%
- Perion NetworkPERI2.0% of the fund+177%
- GEE GroupJOB1.7% of the fund+99%
- Contango Silver & GoldCTGO1.6% of the fund+217%
- Mays J WMAYS1.5% of the fund+100%
- NorthEast Community BancorpNECB1.4% of the fund+100%
- Marathon BancorpMBBC1.4% of the fund+100%
- FB BancorpFBLA1.3% of the fund+100%
- Japan Smaller Capitalization FundJOF1.1% of the fund+100%
- TiptreeTIPT0.9% of the fund+100%
- Finward BancorpFNWD0.9% of the fund+100%
- NexGen EnergyNXE0.8% of the fund+300%
- Napco Security TechnologiesNSSC0.8% of the fund+100%
- Virginia National BanksharesVABK0.7% of the fund+100%
Cut
Sold some of their stake.
- Lineage Cell TherapeuticsLCTX3.0% of the fund-3%
- Advisorshares TRMSOS1.3% of the fund-8%
- Proshares TR IIGLL0.9% of the fund-38%
- Affinity BancsharesAFBI0.8% of the fund-59%
Sold out
Sold their entire stake.
- ETF SER SolutionsJETS-100%
- Direxion Shares ETF TrustTMF-100%
- Mach Natural Resources LPMNR-100%
- Proshares TR II-100%
- First BancorpFBP-100%
- Hoyne BancorpHYNE-100%
Holdings
- Vizsla SilverVZLA
- Share
- 4.2%
- Value
- $10m
- Shares
- 2,908,020
+93%
- Proshares TR IIUVXY
- Share
- 3.1%
- Value
- $7m
- Shares
- 279,580
New
- Advisorshares TRMSOS
- Share
- 1.3%
- Value
- $3m
- Shares
- 590,000
-8%
- Japan Smaller Capitalization FundJOF
- Share
- 1.1%
- Value
- $3m
- Shares
- 221,934
+100%
- Proshares TR IIGLL
- Share
- 0.9%
- Value
- $2m
- Shares
- 80,000
-38%
- NexGen EnergyNXE
- Share
- 0.8%
- Value
- $2m
- Shares
- 200,000
+300%
- Advisorshares TRMSOX
- Share
- 0.6%
- Value
- $1m
- Shares
- 391,494
New
- Direxion Shares ETF Trust
- Share
- 0.2%
- Value
- $568,500
- Shares
- 150,000
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Southern Missouri BancorpSMBC | 14.1% | $32m | 422,306 | +89% |
| Liberty CapitalGLIBK | 10.7% | $24m | 1,135,526 | +677% |
| Eastern BanksharesEBC | 7.3% | $17m | 749,576 | +90% |
| Commercial BancgroupCBK | 6.6% | $15m | 466,220 | +88% |
| Provident Financial HoldingsPROV | 5.9% | $13m | 782,236 | +100% |
| OFG BancorpOFG | 4.4% | $10m | 204,134 | +46% |
| Vizsla SilverVZLA | 4.2% | $10m | 2,908,020 | +93% |
| Viemed HealthcareVMD | 4.0% | $9m | 807,382 | +95% |
| Ivanhoe ElectricIE | 4.0% | $9m | 954,154 | +79% |
| Proshares TR IIUVXY | 3.1% | $7m | 279,580 | New |
| Lineage Cell TherapeuticsLCTX | 3.0% | $7m | 5,197,788 | -3% |
| CoastalSouth BancsharesCOSO | 2.6% | $6m | 224,276 | +85% |
| AerSaleASLE | 2.6% | $6m | 920,000 | +100% |
| Energy Services of AmericaESOA | 2.5% | $6m | 288,784 | +69% |
| Perion NetworkPERI | 2.0% | $5m | 471,558 | +177% |
| GEE GroupJOB | 1.7% | $4m | 18,799,392 | +99% |
| Contango Silver & GoldCTGO | 1.6% | $4m | 226,112 | +217% |
| Mays J WMAYS | 1.5% | $3m | 88,862 | +100% |
| NorthEast Community BancorpNECB | 1.4% | $3m | 119,000 | +100% |
| Marathon BancorpMBBC | 1.4% | $3m | 215,328 | +100% |
| Advisorshares TRMSOS | 1.3% | $3m | 590,000 | -8% |
| FB BancorpFBLA | 1.3% | $3m | 194,198 | +100% |
| Japan Smaller Capitalization FundJOF | 1.1% | $3m | 221,934 | +100% |
| Proshares TR IIGLL | 0.9% | $2m | 80,000 | -38% |
| TiptreeTIPT | 0.9% | $2m | 111,602 | +100% |
| Finward BancorpFNWD | 0.9% | $2m | 53,160 | +100% |
| NexGen EnergyNXE | 0.8% | $2m | 200,000 | +300% |
| Affinity BancsharesAFBI | 0.8% | $2m | 82,460 | -59% |
| Napco Security TechnologiesNSSC | 0.8% | $2m | 48,848 | +100% |
| Virginia National BanksharesVABK | 0.7% | $2m | 37,584 | +100% |
| NSTS BancorpNSTS | 0.7% | $2m | 113,178 | +21% |
| NB BancorpNBBK | 0.6% | $1m | 63,748 | +329% |
| Advisorshares TRMSOX | 0.6% | $1m | 391,494 | New |
| Kelly ServicesKELYA | 0.5% | $1m | 100,000 | +100% |
| Sirius XM HoldingsSIRI | 0.5% | $1m | 38,388 | +100% |
| Trulieve CannabisTRLV | 0.4% | $983,000 | 100,000 | New |
| Norwood FinancialNWFL | 0.3% | $704,020 | 21,898 | +76% |
| American BitcoinABTC | 0.3% | $653,856 | 960,000 | +73% |
| Direxion Shares ETF Trust | 0.2% | $568,500 | 150,000 | New |
| United BancorpUBCP | 0.2% | $562,120 | 35,398 | +100% |
| i-80 GoldIAUX | 0.2% | $561,600 | 390,000 | +100% |
| ECB BancorpECBK | 0.2% | $532,320 | 26,510 | +98% |
| Farmers National BancFMNB | 0.2% | $438,000 | 30,000 | +100% |
| Harte HanksHHS | 0.2% | $379,110 | 175,514 | +100% |
| Catalyst BancorpCLST | 0.2% | $348,526 | 21,110 | +100% |
| Ampco PittsburghAP | 0.1% | $259,500 | 30,000 | +100% |
| Avalon HoldingsAWX | <0.1% | $129,320 | 51,936 | +106% |
| Blue Ridge BanksharesBRBS | <0.1% | $80,068 | 22,682 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 137.4% since 30 June 2025.
Where the money is
Financial services51.2%
Media & telecom11.2%
Materials10.9%
Health care7.5%
Technology5.3%
Industrials5.1%
Real estate1.5%
Utilities0.1%
Other7.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.