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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
+8.33%
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
$121M
AUM Growth
-$24.7M
Cap. Flow
-$31.8M
Cap. Flow %
-26.41%
Top 10 Hldgs %
56.77%
Holding
73
New
8
Increased
6
Reduced
15
Closed
22

Top Buys

Rank Stock Value
1
VXX
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
+$4.5M
2
TZA icon
Direxion Daily Small Cap Bear 3x ETF
TZA
+$1.85M
3
SDS icon
ProShares UltraShort S&P500
SDS
+$1.6M
4
NRG icon
NRG Energy
NRG
+$1.15M
5
LONE
Lonestar Resources US Inc. Class A Common Stock
LONE
+$853K

Top Sells

Rank Stock Value
1
PNC icon
PNC Financial Services
PNC
+$5.91M
2
CIFC
CIFC LLC Common Shares
CIFC
+$5.13M
3
STND
STANDARD FINANCIAL CORP COM STK
STND
+$5M
4
TBT icon
ProShares Trust UltraShort Lehman 20+ Year Treasury
TBT
+$1.58M
5
AGN
Allergan plc
AGN
+$1.45M

Sector Composition

Rank Sector Weight
1 Financials 47.26%
2 Materials 14.86%
3 Industrials 11.33%
4 Energy 7.01%
5 Real Estate 1.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BPOP icon
1
Popular Inc
BPOP
$11B
$11.2M 9.27%
255,000
– –
SMBC icon
2
Southern Missouri Bancorp
SMBC
$855M
$9.59M 7.95%
270,958
-10,000
-4% -$284K
PROV icon
3
Provident Financial
PROV
$108M
$7.77M 6.44%
384,100
-10,000
-3% -$197K
WFC icon
4
Wells Fargo
WFC
$261B
$7.32M 6.08%
132,900
-23,000
-15% -$1.16M
MPVD
5
DELISTED
Mountain Province Diamonds Inc.
MPVD
$6.03M 5.01%
1,183,019
-1,000
-0.1% -$5.05K
PNC icon
6
PNC Financial Services
PNC
$100B
$5.91M 4.9%
50,500
-56,800
-53% -$5.91M
AIG icon
7
American International
AIG
$41.9B
$5.88M 4.88%
90,000
– –
AER icon
8
AerCap
AER
$23.9B
$5.73M 4.75%
137,723
– –
RLH
9
DELISTED
Red Lions Hotel Corporation
RLH
$5.07M 4.21%
607,617
-101,094
-14% -$871K
MAG
10
DELISTED
MAG Silver
MAG
$3.95M 3.28%
357,900
– –
VXX
11
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$3.83M 3.17%
+37,500
New +$4.5M
CNX icon
12
CNX Resources
CNX
$4.85B
$3.46M 2.87%
228,000
– –
AGI icon
13
Alamos Gold
AGI
$12.4B
$3.42M 2.84%
500,000
– –
REIS
14
DELISTED
Reis, Inc.
REIS
$3.34M 2.77%
150,089
-30,120
-17% -$647K
CWAY
15
DELISTED
Coastway Bancorp, Inc.
CWAY
$2.54M 2.1%
162,000
-15,000
-8% -$211K
NSU
16
DELISTED
Nevsun Resources Ltd.
NSU
$2.33M 1.93%
752,800
– –
FLY
17
DELISTED
Fly Leasing Limited
FLY
$2.31M 1.91%
173,350
– –
WBKC
18
DELISTED
Wolverine Bancorp, Inc.
WBKC
$2.08M 1.72%
65,700
– –
MAYS icon
19
J.W. Mays
MAYS
$78.6M
$1.91M 1.58%
44,939
– –
AGN
20
DELISTED
Allergan plc
AGN
$1.68M 1.39%
8,000
-7,000
-47% -$1.45M
WAYN
21
DELISTED
Wayne Savings Bancshares Inc
WAYN
$1.55M 1.29%
94,005
– –
NRG icon
22
NRG Energy
NRG
$29.8B
$1.53M 1.27%
125,000
+100,000
+400% +$1.15M
SDS icon
23
ProShares UltraShort S&P500
SDS
$406M
$1.51M 1.25%
+1,000
New +$1.6M
NSSC icon
24
Napco Security Technologies
NSSC
$1.28B
$1.51M 1.25%
354,372
– –
TZA icon
25
Direxion Daily Small Cap Bear 3x ETF
TZA
$213M
$1.49M 1.24%
+188
New +$1.85M
1
2 3

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UAML
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ACM
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Raffles Associates's Q4 2016 Portfolio in Review

As of Q4 2016, Raffles Associates held 73 positions worth $121M, down 17% from $145M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Raffles Associates withdrew a net $31.8M in Q4 2016, closing 22 positions and reducing 15 holdings. Its most notable exit was CIFC LLC Common Shares, an estimated $5.13M position sold in full.

By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 38% a quarter earlier, followed by Materials and Industrials.

Against the trend, Raffles Associates opened a new position in iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019 worth $3.83M.

  • Raffles Associates's largest Q4 2016 buy was iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019: 37,500 shares worth $3.83M.
  • Raffles Associates added most to NRG Energy in Q4 2016, an estimated $1.15M increase.
  • Raffles Associates's biggest Q4 2016 reduction was PNC Financial Services, cutting an estimated $5.91M.
  • Raffles Associates fully exited CIFC LLC Common Shares in Q4 2016, selling an estimated $5.13M.
  • Raffles Associates's ten largest holdings make up 57% of its $121M portfolio in Q4 2016.
  • Raffles Associates opened 8 new positions and closed 22 in Q4 2016.
  • Raffles Associates's portfolio value fell 17% quarter-over-quarter to $121M.

Based on Raffles Associates's 13F filing for Q4 2016, filed 15 Feb 2017.