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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
+1.67%
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
$133M
AUM Growth
+$25.9M
Cap. Flow
+$25.7M
Cap. Flow %
19.3%
Top 10 Hldgs %
56.58%
Holding
62
New
13
Increased
7
Reduced
16
Closed
8

Top Buys

Rank Stock Value
1
GLL icon
ProShares UltraShort Gold
GLL
+$6.4M
2
CBK
Commercial Bancgroup
CBK
+$6.14M
3
GLIBK
Liberty Capital Corp Series C GCI Group Common Stock
GLIBK
+$4.85M
4
ABTC
American Bitcoin Corp
ABTC
+$2.92M
5
UVXY icon
ProShares Ultra VIX Short-Term Futures ETF
UVXY
+$2.05M

Top Sells

Rank Stock Value
1
SQQQ icon
ProShares UltraPro Short QQQ
SQQQ
+$1.52M
2
IE icon
Ivanhoe Electric
IE
+$1.07M
3
FCX icon
Freeport-McMoran
FCX
+$981K
4
SDS icon
ProShares UltraShort S&P500
SDS
+$723K
5
PEP icon
PepsiCo
PEP
+$702K

Sector Composition

Rank Sector Weight
1 Financials 43.16%
2 Materials 15.5%
3 Healthcare 9.05%
4 Industrials 6.76%
5 Communication Services 4.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PKST
26
DELISTED
Peakstone Realty Trust
PKST
$1.39M 1.04%
97,078
-9,922
-9% -$137K
NECB icon
27
Northeast Community Bancorp
NECB
$380M
$1.35M 1.01%
59,500
– –
VXX icon
28
iPath Series B S&P 500 VIX Short-Term Futures ETN
VXX
$159M
$1.32M 0.99%
+50,000
New +$1.63M
MBBC
29
Marathon Bancorp
MBBC
$44.1M
$1.31M 0.98%
107,664
– –
MNR icon
30
Mach Natural Resources
MNR
$2.21B
$1.27M 0.95%
+115,000
New +$1.38M
FBLA
31
FB Bancorp
FBLA
$253M
$1.25M 0.94%
97,099
– –
NSTS icon
32
NSTS Bancorp
NSTS
$66.7M
$1.21M 0.91%
93,774
– –
ABTC
33
American Bitcoin Corp
ABTC
$400M
$1.19M 0.89%
+46,667
New +$2.92M
JDST icon
34
Direxion Daily Junior Gold Miners Index Bear 2X ETF
JDST
$31.1M
$1.12M 0.84%
+21,250
New +$1.56M
NSSC icon
35
Napco Security Technologies
NSSC
$1.33B
$1.02M 0.76%
24,424
– –
FNWD icon
36
Finward Bancorp
FNWD
$192M
$935K 0.7%
26,580
– –
PERI icon
37
Perion Network
PERI
$378M
$910K 0.68%
95,000
+55,000
+138% +$534K
KELYA icon
38
Kelly Services Class A
KELYA
$560M
$764K 0.57%
86,790
+35,000
+68% +$356K
VABK icon
39
Virginia National Bankshares
VABK
$249M
$751K 0.56%
18,836
– –
TIPT icon
40
Tiptree Inc
TIPT
$678M
$745K 0.56%
40,801
-11,000
-21% -$200K
VG
41
Venture Global Inc
VG
$30.2B
$682K 0.51%
+100,000
New +$833K
NBBK icon
42
NB Bancorp
NBBK
$1.01B
$562K 0.42%
28,374
-2,762
-9% -$52.5K
SIRI icon
43
SiriusXM
SIRI
$10.7B
$384K 0.29%
19,194
– –
NWFL icon
44
Norwood Financial Corp
NWFL
$371M
$349K 0.26%
12,449
-414
-3% -$11.3K
HYNE
45
Hoyne Bancorp
HYNE
$124M
$346K 0.26%
+23,897
New +$331K
ALTO icon
46
Alto Ingredients
ALTO
$345M
$288K 0.22%
100,000
– –
IAUX
47
i-80 Gold Corp
IAUX
$1.11B
$285K 0.21%
+195,000
New +$222K
ZSL icon
48
ProShares UltraShort Silver
ZSL
$67.2M
$267K 0.2%
+5,000
New +$550K
HHS icon
49
Harte-Hanks
HHS
$16.3M
$264K 0.2%
87,755
+18,391
+27% +$60.1K
UBCP icon
50
United Bancorp
UBCP
$92.1M
$254K 0.19%
17,699
– –
1
2
3

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UAML
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RLH
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Raffles Associates's Q4 2025 Portfolio in Review

As of Q4 2025, Raffles Associates held 62 positions worth $133M, up 24% from $107M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Raffles Associates deployed $25.7M of net new capital in Q4 2025, opening 13 new positions and adding to 7 existing holdings. Its largest new stake was ProShares UltraShort Gold: 225,000 shares worth $5.88M.

By sector, the portfolio is most concentrated in Financials at 43% of assets, down from 45% a quarter earlier, followed by Materials and Healthcare.

On the sell side, the largest reduction was Ivanhoe Electric, an estimated $1.07M trimmed.

  • Raffles Associates's largest Q4 2025 buy was ProShares UltraShort Gold: 225,000 shares worth $5.88M.
  • Raffles Associates added most to ProShares Ultra VIX Short-Term Futures ETF in Q4 2025, an estimated $2.05M increase.
  • Raffles Associates's biggest Q4 2025 reduction was Ivanhoe Electric, cutting an estimated $1.07M.
  • Raffles Associates fully exited ProShares UltraPro Short QQQ in Q4 2025, selling an estimated $1.52M.
  • Raffles Associates's ten largest holdings make up 57% of its $133M portfolio in Q4 2025.
  • Raffles Associates opened 13 new positions and closed 8 in Q4 2025.
  • Raffles Associates's portfolio value rose 24% quarter-over-quarter to $133M.

Based on Raffles Associates's 13F filing for Q4 2025, filed 17 Feb 2026.