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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
+10.52%
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
$95.8M
AUM Growth
-$11.8M
Cap. Flow
-$17.7M
Cap. Flow %
-18.52%
Top 10 Hldgs %
48.6%
Holding
59
New
7
Increased
4
Reduced
20
Closed
9

Top Buys

Rank Stock Value
1
GDP
GOODRICH PETROLEUM CORP(NEW)
GDP
+$3.22M
2
HK
Halcon Resources Corporation
HK
+$1.8M
3
CYNI
CYAN INC COM
CYNI
+$1.33M
4
ARR
Armour Residential REIT
ARR
+$805K
5
TRQ
Turquoise Hill Resources Ltd
TRQ
+$708K

Top Sells

Rank Stock Value
1
STND
STANDARD FINANCIAL CORP COM STK
STND
+$4.37M
2
FLY
Fly Leasing Limited
FLY
+$3.75M
3
OBAF
OBA FINL SVCS INC COM STK (MD)
OBAF
+$2.8M
4
CNX icon
CNX Resources
CNX
+$2.52M
5
HTS
HATTERAS FINANCIAL CORP
HTS
+$1.5M

Sector Composition

Rank Sector Weight
1 Financials 26.62%
2 Energy 18.54%
3 Materials 14.7%
4 Industrials 13.84%
5 Miscellaneous 8.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PROV icon
1
Provident Financial
PROV
$117M
$7.25M 7.57%
483,500
– –
EGO icon
2
Eldorado Gold
EGO
$11.2B
$5.74M 5.99%
202,677
+20,000
+11% +$613K
SMBC icon
3
Southern Missouri Bancorp
SMBC
$817M
$5.42M 5.66%
325,958
-27,762
-8% -$431K
GST
4
DELISTED
Gastar Exploration Inc.
GST
$5.38M 5.62%
777,582
-80,022
-9% -$397K
RLH
5
DELISTED
Red Lions Hotel Corporation
RLH
$5.29M 5.52%
874,487
– –
AER icon
6
AerCap
AER
$22.9B
$4.51M 4.71%
117,723
-50,000
-30% -$1.18M
EOX
7
DELISTED
EMERALD OIL INC (MT)
EOX
$3.81M 3.97%
24,842
-3,422
-12% -$529K
REIS
8
DELISTED
Reis, Inc.
REIS
$3.56M 3.72%
185,209
– –
CHFN
9
DELISTED
Charter Financial Corp
CHFN
$2.94M 3.07%
272,800
– –
MLVF
10
DELISTED
Malvern Bancorp, Inc.
MLVF
$2.65M 2.77%
240,900
– –
FWONA icon
11
Liberty Media Series A
FWONA
$22.2B
$2.62M 2.73%
100,635
– –
GDP
12
DELISTED
GOODRICH PETROLEUM CORP(NEW)
GDP
$2.55M 2.66%
+150,000
New +$3.22M
MAG
13
DELISTED
MAG Silver
MAG
$2.39M 2.5%
463,100
– –
AIG.WS
14
DELISTED
American International Group, Inc.
AIG.WS
$2.33M 2.43%
115,000
– –
CIFC
15
DELISTED
CIFC LLC Common Shares
CIFC
$2.17M 2.27%
279,516
-9,200
-3% -$72.3K
ARR
16
Armour Residential REIT
ARR
$2.31B
$2.1M 2.2%
13,125
+5,000
+62% +$805K
NVSL
17
DELISTED
NAUGATUCK VALLEY FINANCIAL CORP
NVSL
$2.1M 2.19%
290,321
-40,000
-12% -$289K
TRQ
18
DELISTED
Turquoise Hill Resources Ltd
TRQ
$1.98M 2.07%
60,000
+21,030
+54% +$708K
MAYS icon
19
J.W. Mays
MAYS
$85.5M
$1.8M 1.87%
53,620
-1,000
-2% -$27.8K
VPG icon
20
Vishay Precision Group
VPG
$839M
$1.79M 1.87%
120,000
-30,000
-20% -$460K
PNC.WS
21
DELISTED
PNC Financial Services Group Inc
PNC.WS
$1.73M 1.8%
97,300
– –
WFC.WS
22
DELISTED
Wells Fargo & Company Ws
WFC.WS
$1.68M 1.76%
105,900
-12,900
-11% -$196K
FLY
23
DELISTED
Fly Leasing Limited
FLY
$1.55M 1.62%
96,563
-251,943
-72% -$3.75M
HK
24
DELISTED
Halcon Resources Corporation
HK
$1.54M 1.61%
+2,320
New +$1.8M
AAV
25
DELISTED
Advantage Oil & Gas Ltd
AAV
$1.52M 1.58%
350,000
-50,000
-13% -$202K
1
2 3

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Raffles Associates's Q4 2013 Portfolio in Review

As of Q4 2013, Raffles Associates held 59 positions worth $95.8M, down 11% from $108M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Raffles Associates withdrew a net $17.7M in Q4 2013, closing 9 positions and reducing 20 holdings. Its most notable exit was STANDARD FINANCIAL CORP COM STK, an estimated $4.37M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 25% a quarter earlier, followed by Energy and Materials.

Against the trend, Raffles Associates opened a new position in GOODRICH PETROLEUM CORP(NEW) worth $2.55M.

  • Raffles Associates's largest Q4 2013 buy was GOODRICH PETROLEUM CORP(NEW): 150,000 shares worth $2.55M.
  • Raffles Associates added most to Armour Residential REIT in Q4 2013, an estimated $805K increase.
  • Raffles Associates's biggest Q4 2013 reduction was Fly Leasing Limited, cutting an estimated $3.75M.
  • Raffles Associates fully exited STANDARD FINANCIAL CORP COM STK in Q4 2013, selling an estimated $4.37M.
  • Raffles Associates's ten largest holdings make up 49% of its $95.8M portfolio in Q4 2013.
  • Raffles Associates opened 7 new positions and closed 9 in Q4 2013.
  • Raffles Associates's portfolio value fell 11% quarter-over-quarter to $95.8M.

Based on Raffles Associates's 13F filing for Q4 2013, filed 14 Feb 2014.