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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
-0.46%
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
$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 28.41%
2 Industrials 13.69%
3 Materials 10.99%
4 Healthcare 7.4%
5 Energy 5.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPHR
1
DELISTED
Cipher Pharmaceuticals Inc.
CPHR
$7.8M 7.4%
+540,300
New +$7.84M
PROV icon
2
Provident Financial
PROV
$111M
$7.32M 6.94%
483,500
– –
SMBC icon
3
Southern Missouri Bancorp
SMBC
$862M
$6.19M 5.87%
325,958
– –
RLH
4
DELISTED
Red Lions Hotel Corporation
RLH
$5.92M 5.62%
934,487
– –
REIS
5
DELISTED
Reis, Inc.
REIS
$4.85M 4.6%
185,209
– –
AER icon
6
AerCap
AER
$23.4B
$4.57M 4.34%
117,723
– –
ISBC
7
DELISTED
Investors Bancorp, Inc.
ISBC
$4.49M 4.26%
400,000
-150,000
-27% -$1.59M
EGO icon
8
Eldorado Gold
EGO
$8.33B
$3.74M 3.55%
122,677
– –
MAG
9
DELISTED
MAG Silver
MAG
$3.55M 3.37%
433,100
– –
GST
10
DELISTED
Gastar Exploration Inc.
GST
$2.96M 2.81%
1,227,582
+250,000
+26% +$912K
ONB icon
11
Old National Bancorp
ONB
$10.2B
$2.83M 2.69%
190,382
– –
AIG.WS
12
DELISTED
American International Group, Inc.
AIG.WS
$2.83M 2.69%
115,000
– –
NVSL
13
DELISTED
NAUGATUCK VALLEY FINANCIAL CORP
NVSL
$2.48M 2.36%
290,321
– –
TRQ
14
DELISTED
Turquoise Hill Resources Ltd
TRQ
$2.48M 2.35%
80,000
+40,000
+100% +$1.31M
MAYS icon
15
J.W. Mays
MAYS
$78.6M
$2.45M 2.33%
49,120
– –
PNC.WS
16
DELISTED
PNC Financial Services Group Inc
PNC.WS
$2.43M 2.3%
97,300
– –
CIFC
17
DELISTED
CIFC LLC Common Shares
CIFC
$2.39M 2.27%
289,516
+6,468
+2% +$57.6K
WFC.WS
18
DELISTED
Wells Fargo & Company Ws
WFC.WS
$2.26M 2.15%
105,900
– –
FLY
19
DELISTED
Fly Leasing Limited
FLY
$2.09M 1.99%
159,063
+25,000
+19% +$321K
CNX icon
20
CNX Resources
CNX
$4.91B
$2.06M 1.96%
73,200
+37,200
+103% +$1.13M
CWAY
21
DELISTED
Coastway Bancorp, Inc.
CWAY
$2.06M 1.95%
177,000
– –
RRC icon
22
Range Resources
RRC
$9.33B
$1.87M 1.78%
35,000
+20,000
+133% +$1.29M
OSHC
23
DELISTED
Ocean Shore Holding Co.
OSHC
$1.82M 1.72%
+126,900
New +$1.79M
WBKC
24
DELISTED
Wolverine Bancorp, Inc.
WBKC
$1.57M 1.49%
65,700
– –
FMNB icon
25
Farmers National Banc Corp
FMNB
$945M
$1.57M 1.49%
187,827
– –
1
2 3

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UAML
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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 28% of assets, up from 28% a quarter earlier, followed by Industrials and Materials.

  • 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.