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Raffles Associates Portfolio holdings

AUM $115M
1-Year Est. Return 35.69%
This Fund
S&P 500
This Quarter Est. Return
-13.82%
1 Year Est. Return
+35.69%
3 Year Est. Return
+44.69%
5 Year Est. Return
+37.47%
10 Year Est. Return
+130.35%
AUM
$87.6M
AUM Growth
-$21.5M
Cap. Flow
-$7.75M
Cap. Flow %
-8.85%
Top 10 Hldgs %
67.05%
Holding
51
New
5
Increased
5
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
ROAN
Roan Resources, Inc.
ROAN
+$6.22M
2
HPR
HighPoint Resources Corporation
HPR
+$988K
3
FBP icon
First Bancorp
FBP
+$938K
4
CNR
Core Natural Resources Inc
CNR
+$919K
5
PARA
Paramount Global Class B
PARA
+$830K

Top Sells

Rank Stock Value
1
DELL icon
Dell
DELL
+$9.17M
2
KL
Kirkland Lake Gold Ltd Ordinary
KL
+$1.9M
3
AGI icon
Alamos Gold
AGI
+$1.37M
4
VXX
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
+$1.33M
5
TWTR
Twitter, Inc.
TWTR
+$1.28M

Sector Composition

Rank Sector Weight
1 Financials 44.24%
2 Energy 20.97%
3 Industrials 11.18%
4 Materials 5.67%
5 Technology 4.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MFNC
26
DELISTED
Mackinac Financial Corporation
MFNC
$730K 0.83%
53,474
– –
AMAL icon
27
Amalgamated Financial
AMAL
$1.47B
$702K 0.8%
36,000
-15,000
-29% -$294K
CCR
28
DELISTED
CONSOL Coal Resources LP
CCR
$659K 0.75%
40,146
-10,000
-20% -$181K
LSXMA
29
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
$658K 0.75%
24,746
– –
WCFB
30
DELISTED
WCF Bancorp, Inc. Common Stock
WCFB
$649K 0.74%
78,708
– –
LBRDK icon
31
Liberty Broadband Class C
LBRDK
$4.89B
$644K 0.74%
8,939
– –
PBIP
32
DELISTED
Prudential Bancorp, Inc.
PBIP
$582K 0.66%
33,040
– –
AGI icon
33
Alamos Gold
AGI
$12B
$540K 0.62%
150,000
-350,000
-70% -$1.37M
AXU
34
DELISTED
Alexco Resource Corp
AXU
$539K 0.62%
573,400
– –
RIVE
35
DELISTED
Riverview Financial Corporation Common Stock
RIVE
$515K 0.59%
47,204
– –
FSM icon
36
Fortuna Silver Mines
FSM
$2.54B
$510K 0.58%
140,000
-50,000
-26% -$185K
OTEL
37
DELISTED
Otelco, Inc. Class A
OTEL
$485K 0.55%
30,000
– –
WFC icon
38
Wells Fargo
WFC
$254B
$472K 0.54%
+10,248
New +$525K
VOXX
39
DELISTED
VOXX International Corporation Class A
VOXX
$396K 0.45%
100,000
+25,000
+33% +$124K
SELF
40
Global Self Storage
SELF
$58.5M
$303K 0.35%
77,294
– –
FWONK icon
41
Liberty Media Series C
FWONK
$25.5B
$274K 0.31%
9,246
– –
RAND icon
42
Rand Capital
RAND
$30M
$212K 0.24%
9,444
– –
SVM
43
Silvercorp Metals
SVM
$2.02B
$210K 0.24%
100,000
+25,000
+33% +$53.6K
UBCP icon
44
United Bancorp
UBCP
$93.9M
$171K 0.2%
15,000
– –
SYNC
45
DELISTED
Synacor, Inc.
SYNC
$67K 0.08%
+45,139
New +$79.5K
LBRDA icon
46
Liberty Broadband Class A
LBRDA
$4.89B
– –
-2,669
Closed -$225K
TUR icon
47
iShares MSCI Turkey ETF
TUR
$201M
– –
-25,000
Closed -$595K
TWTR
48
DELISTED
Twitter, Inc.
TWTR
– –
-45,000
Closed -$1.28M
KL
49
DELISTED
Kirkland Lake Gold Ltd Ordinary
KL
– –
-100,000
Closed -$1.9M
SRCI
50
DELISTED
SRC Energy Inc
SRCI
– –
-50,000
Closed -$444K
1
2
3

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Raffles Associates's Q4 2018 Portfolio in Review

As of Q4 2018, Raffles Associates held 51 positions worth $87.6M, down 20% from $109M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Raffles Associates withdrew a net $7.75M in Q4 2018, closing 6 positions and reducing 11 holdings. Its most notable exit was Kirkland Lake Gold Ltd Ordinary, an estimated $1.9M position sold in full.

By sector, the portfolio is most concentrated in Financials at 44% of assets, up from 38% a quarter earlier, followed by Energy and Industrials.

Against the trend, Raffles Associates opened a new position in Roan Resources, Inc. worth $4.83M.

  • Raffles Associates's largest Q4 2018 buy was Roan Resources, Inc.: 576,284 shares worth $4.83M.
  • Raffles Associates added most to HighPoint Resources Corporation in Q4 2018, an estimated $988K increase.
  • Raffles Associates's biggest Q4 2018 reduction was Dell, cutting an estimated $9.17M.
  • Raffles Associates fully exited Kirkland Lake Gold Ltd Ordinary in Q4 2018, selling an estimated $1.9M.
  • Raffles Associates's ten largest holdings make up 67% of its $87.6M portfolio in Q4 2018.
  • Raffles Associates opened 5 new positions and closed 6 in Q4 2018.
  • Raffles Associates's portfolio value fell 20% quarter-over-quarter to $87.6M.

Based on Raffles Associates's 13F filing for Q4 2018, filed 14 Feb 2019.