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Raffles Associates Portfolio holdings

AUM $117M
1-Year Est. Return 22.1%
This Fund
S&P 500
This Quarter Est. Return
-0.46%
1 Year Est. Return
+22.1%
3 Year Est. Return
+49.97%
5 Year Est. Return
+31.55%
10 Year Est. Return
+123.72%
AUM
$105M
AUM Growth
-$7.58M
Cap. Flow
-$3.06M
Cap. Flow %
-2.9%
Top 10 Hldgs %
48.78%
Holding
72
New
9
Increased
10
Reduced
8
Closed
15

Top Buys

Rank Stock Value
1
CPHR
Cipher Pharmaceuticals Inc.
CPHR
+$7.84M
2
OSHC
Ocean Shore Holding Co.
OSHC
+$1.79M
3
MR
Montage Resources Corporation Common Stock
MR
+$1.33M
4
TRQ
Turquoise Hill Resources Ltd
TRQ
+$1.31M
5
RRC icon
Range Resources
RRC
+$1.29M

Top Sells

Rank Stock Value
1
VXX
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
+$3.12M
2
EOX
EMERALD OIL INC (MT)
EOX
+$3.06M
3
MLVF
Malvern Bancorp, Inc.
MLVF
+$2.74M
4
GDP
GOODRICH PETROLEUM CORP(NEW)
GDP
+$2.22M
5
ISBC
Investors Bancorp, Inc.
ISBC
+$1.59M

Sector Composition

Rank Sector Weight
1 Financials 33.02%
2 Industrials 14.2%
3 Miscellaneous 12.61%
4 Materials 10.99%
5 Energy 9.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBRDA
51
DELISTED
Liberty Broadband Class A
LBRDA
$224K 0.21%
+4,469
New +$221K
AMZG
52
DELISTED
AMERICAN EAGLE ENERGY CORP NEW COM STK (NV)
AMZG
$211K 0.2%
+338,685
New +$536K
EPM icon
53
Evolution Petroleum
EPM
$136M
$163K 0.15%
+22,000
New +$185K
AXU
54
DELISTED
Alexco Resource Corp
AXU
$130K 0.12%
251,914
– –
UBCP icon
55
United Bancorp
UBCP
$88.9M
$121K 0.11%
15,000
– –
MPVD
56
DELISTED
Mountain Province Diamonds Inc.
MPVD
$121K 0.11%
25,000
– –
GROW icon
57
US Global Investors
GROW
$36M
$112K 0.11%
36,118
– –
BTG icon
58
B2Gold
BTG
$6.84B
– –
-725,000
Closed -$1.48M
HL icon
59
Hecla Mining
HL
$12.3B
– –
-200,000
Closed -$496K
STAA icon
60
STAAR Surgical
STAA
$1.14B
– –
-22,500
Closed -$239K
WPM icon
61
Wheaton Precious Metals
WPM
$67B
– –
-50,000
Closed -$997K
MLVF
62
DELISTED
Malvern Bancorp, Inc.
MLVF
– –
-240,900
Closed -$2.74M
AUY
63
DELISTED
Yamana Gold, Inc.
AUY
– –
-200,000
Closed -$1.2M
TPCO
64
DELISTED
Tribune Publishing Company Common Stock
TPCO
– –
-15,000
Closed -$303K
GPOR
65
DELISTED
Gulfport Energy Corp.
GPOR
– –
-10,000
Closed -$534K
AMRI
66
DELISTED
Albany Molecular Research Inc
AMRI
– –
-25,000
Closed -$552K
RIVR
67
DELISTED
RIVER VALLEY BANCORP
RIVR
– –
-12,500
Closed -$268K
GDP
68
DELISTED
GOODRICH PETROLEUM CORP(NEW)
GDP
– –
-150,000
Closed -$2.22M
SOQ
69
DELISTED
SONDE RESOURCES CORP COM NEW (CAD)
SOQ
– –
-1,804,597
Closed -$252K
EOX
70
DELISTED
EMERALD OIL INC (MT)
EOX
– –
-24,842
Closed -$3.06M
MHR
71
DELISTED
MAGNUM HUNTER RESOURCES CORP (DEL)
MHR
– –
-125,000
Closed -$696K
VXX
72
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-6,250
Closed -$3.12M
1 2
3

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PCC
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WCM
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OCM
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Raffles Associates's Q4 2014 Portfolio in Review

As of Q4 2014, Raffles Associates held 72 positions worth $105M, down 6.7% from $113M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Raffles Associates's Q4 2014 filing shows 9 new, 10 increased, 8 reduced and 15 closed positions. Its largest new stake was Cipher Pharmaceuticals Inc.: 540,300 shares worth $7.8M. The largest sale was iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019, an estimated $3.12M.

By sector, the portfolio is most concentrated in Financials at 33% of assets, up from 32% a quarter earlier, followed by Industrials and Miscellaneous.

  • Raffles Associates's largest Q4 2014 buy was Cipher Pharmaceuticals Inc.: 540,300 shares worth $7.8M.
  • Raffles Associates added most to Turquoise Hill Resources Ltd in Q4 2014, an estimated $1.31M increase.
  • Raffles Associates's biggest Q4 2014 reduction was Investors Bancorp, Inc., cutting an estimated $1.59M.
  • Raffles Associates fully exited iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019 in Q4 2014, selling an estimated $3.12M.
  • Raffles Associates's ten largest holdings make up 49% of its $105M portfolio in Q4 2014.
  • Raffles Associates opened 9 new positions and closed 15 in Q4 2014.
  • Raffles Associates's portfolio value fell 6.7% quarter-over-quarter to $105M.

Based on Raffles Associates's 13F filing for Q4 2014, filed 13 Feb 2015.