1y return+29.0%S&P 500 +20.9%
3y return+57.4%S&P 500 +68.5%
5y return+36.8%S&P 500 +74.5%
10y return+132.0%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $232 against $357 in the S&P 500.2
Raffles Associates LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| SMBCSouthern Mo Bancorp Inc | $32.2M | 14.1% | +89.5% |
| GLIBKLiberty Cap Corp | $24.5M | 10.7% | +676.6% |
| EBCEastern Bankshares Inc | $16.7M | 7.3% | +89.9% |
| CBKCommercial Bancgroup Inc | $15.1M | 6.6% | +87.8% |
| PROVProvident Finl Hldgs Inc | $13.5M | 5.9% | +100.0% |
| OFGOfg Bancorp | $10.0M | 4.4% | +45.7% |
| VZLAVizsla Silver Corp | $9.6M | 4.2% | +93.4% |
| VMDViemed Healthcare Inc | $9.2M | 4.0% | +95.2% |
| IEIvanhoe Electric Inc | $9.2M | 4.0% | +79.3% |
| UVXYProshares Tr II | $7.0M | 3.1% | New |
| LCTXLineage Cell Therapeutics In | $6.8M | 3.0% | −3.1% |
| COSOCoastalsouth Bancshares Inc | $6.0M | 2.6% | +84.9% |
| ASLEAersale Corporation | $5.8M | 2.6% | +100.0% |
| ESOAEnergy Services Of Amer Corp | $5.6M | 2.5% | +69.5% |
| Perion Network LtdCUSIP M78673114 | $4.6M | 2.0% | +176.9% |
| JOBGee Group Inc | $3.9M | 1.7% | +98.9% |
| CTGOContango Silver & Gold Inc | $3.6M | 1.6% | +216.7% |
| MAYSMays J W Inc | $3.5M | 1.5% | +100.0% |
| NECBNortheast Cmnty Bancorp Inc | $3.3M | 1.4% | +100.0% |
| MBBCMarathon Bancorp Inc | $3.3M | 1.4% | +100.0% |
| MSOSAdvisorshares Tr | $3.0M | 1.3% | −7.8% |
| FBLAFb Bancorp Inc | $2.9M | 1.3% | +100.0% |
| JOFJapan Smaller Capitalization | $2.6M | 1.1% | +100.0% |
| GLLProshares Tr II | $2.2M | 0.9% | −38.5% |
| TIPTTiptree Inc | $2.0M | 0.9% | +100.0% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| ESOAEnergy Services Of Amer Corp | June 30, 2022 | +838.0% | $5.6M |
| NSSCNapco Sec Technologies Inc | June 30, 2020 | +224.7% | $1.9M |
| SMBCSouthern Mo Bancorp Inc | June 30, 2020 | +213.6% | $32.2M |
| NECBNortheast Cmnty Bancorp Inc | September 30, 2021 | +154.7% | $3.3M |
| NXENexgen Energy Ltd | December 31, 2022 | +112.0% | $1.9M |
| Affinity Bancshares IncCUSIP 00832E103 | March 31, 2021 | +85.5% | $1.9M |
| VZLAVizsla Silver Corp | June 30, 2024 | +84.4% | $9.6M |
| MAYSMays J W Inc | June 30, 2020 | +84.3% | $3.5M |
| OFGOfg Bancorp | December 31, 2022 | +78.0% | $10.0M |
| JOFJapan Smaller Capitalization | September 30, 2023 | +65.7% | $2.6M |
Sold off last quarter
- JETSEtf Ser Solutions was $1.8M
- TMFDirexion Shares Etf Trust was $1.8M
- MNRMach Natural Resources LP was $1.6M
- Proshares Tr IICUSIP 74347Y797 was $832K
- FBPFirst Bancorp Corporation was $681K
- HYNEHoyne Bancorp Inc was $346K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +6.6% | +14.8% |
| March 31, 2026 | −0.1% | −4.6% |
| December 31, 2025 | +5.9% | +2.4% |
| September 30, 2025 | +14.4% | +7.8% |
| June 30, 2025 | +11.7% | +10.5% |
| March 31, 2025 | −5.0% | −4.6% |
| December 31, 2024 | −5.4% | +2.1% |
| September 30, 2024 | +8.7% | +5.4% |
| June 30, 2024 | −3.8% | +4.0% |
| March 31, 2024 | −0.7% | +10.0% |
| December 31, 2023 | +15.9% | +11.2% |
| September 30, 2023 | +1.0% | −3.6% |
| June 30, 2023 | +0.2% | +8.3% |
| March 31, 2023 | −6.0% | +7.0% |
| December 31, 2022 | −2.0% | +7.1% |
| September 30, 2022 | −0.9% | −5.3% |
| June 30, 2022 | −9.6% | −16.5% |
| March 31, 2022 | +0.2% | −4.9% |
| December 31, 2021 | +2.0% | +10.7% |
| September 30, 2021 | +2.8% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Raffles Associates LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1169581&type=13F-HR&dateb=&owner=include&count=40CIK 1169581
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1169581/000106299326004433/Filed August 14, 2026 · accession 0001062993-26-004433