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RA

Raffles Associates Portfolio holdings

AUM $115M
1-Year Est. Return 35.69%
This Fund
S&P 500
This Quarter Est. Return
-4.53%
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
$82.1M
AUM Growth
-$10.7M
Cap. Flow
-$5.69M
Cap. Flow %
-6.93%
Top 10 Hldgs %
62.12%
Holding
51
New
2
Increased
9
Reduced
13
Closed
8

Top Buys

Rank Stock Value
1
GLL icon
ProShares UltraShort Gold
GLL
+$2.02M
2
FBLA
FB Bancorp
FBLA
+$843K
3
MSOS icon
AdvisorShares Pure US Cannabis ETF
MSOS
+$813K
4
NXE icon
NexGen Energy
NXE
+$650K
5
ESOA icon
Energy Services of America
ESOA
+$523K

Top Sells

Rank Stock Value
1
TDW icon
Tidewater
TDW
+$2.24M
2
FBP icon
First Bancorp
FBP
+$2.14M
3
SDS icon
ProShares UltraShort S&P500
SDS
+$1.6M
4
MJ icon
Amplify Alternative Harvest ETF
MJ
+$1.18M
5
SQQQ icon
ProShares UltraPro Short QQQ
SQQQ
+$623K

Sector Composition

Rank Sector Weight
1 Financials 52.74%
2 Materials 13.62%
3 Industrials 10.22%
4 Healthcare 6.67%
5 Real Estate 4.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FNWD icon
26
Finward Bancorp
FNWD
$192M
$795K 0.97%
27,321
– –
VABK icon
27
Virginia National Bankshares
VABK
$249M
$760K 0.93%
21,052
+15
+0.1% +$541
TIPT icon
28
Tiptree Inc
TIPT
$678M
$742K 0.9%
30,801
– –
KELYA icon
29
Kelly Services Class A
KELYA
$560M
$682K 0.83%
51,790
-15,000
-22% -$205K
NSSC icon
30
Napco Security Technologies
NSSC
$1.33B
$631K 0.77%
27,424
– –
RPT
31
Rithm Property Trust
RPT
$95.8M
$594K 0.72%
34,481
-8,354
-20% -$151K
PBPB
32
DELISTED
Potbelly
PBPB
$568K 0.69%
59,761
-10,000
-14% -$111K
ECBK icon
33
ECB Bancorp
ECBK
$181M
$495K 0.6%
32,684
-9,777
-23% -$142K
RNGR icon
34
Ranger Energy Services
RNGR
$341M
$486K 0.59%
34,239
-31,141
-48% -$504K
NWFL icon
35
Norwood Financial Corp
NWFL
$371M
$483K 0.59%
20,000
– –
FRBA icon
36
First Bank
FRBA
$473M
$465K 0.57%
31,394
-2,127
-6% -$31.3K
SIRI icon
37
SiriusXM
SIRI
$10.7B
$433K 0.53%
19,194
– –
UBCP icon
38
United Bancorp
UBCP
$92.1M
$238K 0.29%
17,699
+2,346
+15% +$30.7K
NBBK icon
39
NB Bancorp
NBBK
$1.01B
$201K 0.25%
11,136
– –
BRBS icon
40
Blue Ridge Bankshares
BRBS
$322M
$195K 0.24%
59,934
– –
CLST icon
41
Catalyst Bancorp
CLST
$68.5M
$123K 0.15%
10,555
– –
ALTO icon
42
Alto Ingredients
ALTO
$345M
$114K 0.14%
100,000
– –
AWX icon
43
Avalon Holdings
AWX
$10.1M
$65.2K 0.08%
22,941
– –
BTE icon
44
Baytex Energy
BTE
$2.86B
– –
-100,000
Closed -$258K
COPJ icon
45
Sprott Junior Copper Miners ETF
COPJ
$143M
– –
-11,677
Closed -$215K
MJ icon
46
Amplify Alternative Harvest ETF
MJ
$98.2M
– –
-43,750
Closed -$1.18M
PPLT
47
abrdn Physical Platinum Shares ETF
PPLT
$1.83B
– –
-50,000
Closed -$415K
SQQQ icon
48
ProShares UltraPro Short QQQ
SQQQ
$2.17B
– –
-4,000
Closed -$623K
TDW icon
49
Tidewater
TDW
$3.71B
– –
-41,000
Closed -$2.24M
TLRY icon
50
Tilray
TLRY
$498M
– –
-25,000
Closed -$333K
1
2
3

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Raffles Associates's Q1 2025 Portfolio in Review

As of Q1 2025, Raffles Associates held 51 positions worth $82.1M, down 12% from $92.8M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Raffles Associates withdrew a net $5.69M in Q1 2025, closing 8 positions and reducing 13 holdings. Its most notable exit was Tidewater, an estimated $2.24M position sold in full.

By sector, the portfolio is most concentrated in Financials at 53% of assets, up from 51% a quarter earlier, followed by Materials and Industrials.

Against the trend, Raffles Associates opened a new position in ProShares UltraShort Gold worth $1.71M.

  • Raffles Associates's largest Q1 2025 buy was ProShares UltraShort Gold: 33,750 shares worth $1.71M.
  • Raffles Associates added most to AdvisorShares Pure US Cannabis ETF in Q1 2025, an estimated $813K increase.
  • Raffles Associates's biggest Q1 2025 reduction was First Bancorp, cutting an estimated $2.14M.
  • Raffles Associates fully exited Tidewater in Q1 2025, selling an estimated $2.24M.
  • Raffles Associates's ten largest holdings make up 62% of its $82.1M portfolio in Q1 2025.
  • Raffles Associates opened 2 new positions and closed 8 in Q1 2025.
  • Raffles Associates's portfolio value fell 12% quarter-over-quarter to $82.1M.

Based on Raffles Associates's 13F filing for Q1 2025, filed 15 May 2025.