Latest RAFFLES ASSOCIATES LP Stock Portfolio

RAFFLES ASSOCIATES LP Performance:

2025 Q4: 4.21%YTD: 21.47%2024: -4.12%

Performance for 2025 Q4 is 4.21%, and YTD is 21.47%, and 2024 is -4.12%.

About RAFFLES ASSOCIATES LP and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, RAFFLES ASSOCIATES LP reported an equity portfolio of $133.3 Millions as of 31 Dec, 2025.

The top stock holdings of RAFFLES ASSOCIATES LP are SMBC, IE, VZLA. The fund has invested 10% of it's portfolio in SOUTHERN MO BANCORP INC and 6.9% of portfolio in IVANHOE ELECTRIC INC.

The fund managers got completely rid off PROSHARES TR II (BOIL), PROSHARES TR (ANEW) and FREEPORT-MCMORAN INC (FCX) stocks. They significantly reduced their stock positions in NEXGEN ENERGY LTD (NXE), TIPTREE INC (TIPT) and ADVISORSHARES TR (ACT). RAFFLES ASSOCIATES LP opened new stock positions in COMMERCIAL BANCGROUP INC, PROSHARES TR II (BOIL) and I-80 GOLD CORP (IAUX). The fund showed a lot of confidence in some stocks as they added substantially to PERION NETWORK LTD (PERI), KELLY SVCS INC (KELYA) and INVESCO DB US DLR INDEX TR (UDN).

RAFFLES ASSOCIATES LP Annual Return Estimates Vs S&P 500

Our best estimate is that RAFFLES ASSOCIATES LP made a return of 4.21% in the last quarter. In trailing 12 months, it's portfolio return was 21.47%.

Performance
S&P 500

New Buys

Ticker	$ Bought
commercial bancgroup inc	6,140,000
proshares tr ii	5,883,750
gci liberty inc	5,143,020
proshares tr ii	3,952,300
direxion shs etf tr	1,488,000
barclays bank plc	1,323,500
mach natural resources lp	1,269,600
american bitcoin corp.	1,190,000

New stocks bought by RAFFLES ASSOCIATES LP

Additions

Ticker	% Inc.
perion network ltd	137
kelly svcs inc	67.58
invesco db us dlr index tr	47.06
harte hanks inc	26.51
energy svcs acquisition corp	17.71
aersale corporation	11.63

Additions to existing portfolio by RAFFLES ASSOCIATES LP

Reductions

Ticker	% Reduced
nexgen energy ltd	-27.08
tiptree inc	-21.24
advisorshares tr	-14.13
ecb bancorp inc	-11.7
ivanhoe electric inc	-11.57
peakstone realty trust	-9.27
nb bancorp inc	-8.87
japan smaller capitalization	-5.31

RAFFLES ASSOCIATES LP reduced stake in above stock

Sold off

Ticker	$ Sold
proshares tr ii	-3,601,800
rithm ppty tr inc	-444,830
proshares tr	-1,523,000
hain celestial group inc	-150,353
proshares tr	-722,500
freeport-mcmoran inc	-980,500
sable offshore corp	-261,900
mount logan cap inc	-89,232

RAFFLES ASSOCIATES LP got rid off the above stocks

Sector Distribution

RAFFLES ASSOCIATES LP has about 42% of it's holdings in Others sector.

Sector	%
Others	42
Financial Services	33
Healthcare	9
Basic Materials	8.5
Industrials	6.2
Real Estate	1.3

Market Cap. Distribution

RAFFLES ASSOCIATES LP has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	42
SMALL-CAP	29
MID-CAP	13.9
MICRO-CAP	13.4
NANO-CAP	1.6

Stocks belong to which Index?

About 46% of the stocks held by RAFFLES ASSOCIATES LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	54
RUSSELL 2000	46

Top 5 Winners (%)		%
ALTO	alto ingredients inc	166.7 %
VZLA	vizsla silver corp	26.3 %
IE	ivanhoe electric inc	25.8 %
CLST	catalyst bancorp inc	19.3 %
MBBC	marathon bancorp inc	16.6 %

Top 5 Winners ($)		$
IE	ivanhoe electric inc	2.1 M
VZLA	vizsla silver corp	1.9 M
SMBC	southern mo bancorp inc	1.5 M
VMD	viemed healthcare inc	0.3 M
MBBC	marathon bancorp inc	0.2 M

Top 5 Losers (%)		%
KELYA	kelly svcs inc	-28.2 %
ESOA	energy svcs acquisition corp	-19.8 %
HHS	harte hanks inc	-17.2 %
	siriusxm holdings inc	-14.1 %
ASLE	aersale corporation	-12.6 %

Top 5 Losers ($)		$
ASLE	aersale corporation	-0.5 M
ESOA	energy svcs acquisition corp	-0.4 M
OFG	ofg bancorp	-0.3 M
KELYA	kelly svcs inc	-0.3 M
FBP	first bancorp p r	-0.2 M

RAFFLES ASSOCIATES LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of RAFFLES ASSOCIATES LP

RAFFLES ASSOCIATES LP has 54 stocks in it's portfolio. About 56.6% of the portfolio is in top 10 stocks. ASLE proved to be the most loss making stock for the portfolio. IE was the most profitable stock for RAFFLES ASSOCIATES LP last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ACT	advisorshares tr	1.40	395,000	1,864,400	reduced	-14.13

AFBI	affinity bancshares inc	3.05	198,842	4,070,300	reduced	-0.14

AJX	rithm ppty tr inc	0.00	0.00	0.00	sold off	-100

ALTO	alto ingredients inc	0.22	100,000	288,000	unchanged	0.00

ANEW	proshares tr	0.00	0.00	0.00	sold off	-100

ANEW	proshares tr	0.00	0.00	0.00	sold off	-100

ASLE	aersale corporation	2.56	480,000	3,412,800	added	11.63

AWX	avalon hldgs corp	0.05	25,214	67,826	unchanged	0.00

BOIL	proshares tr ii	4.41	225,000	5,883,750	new

BOIL	proshares tr ii	2.96	110,000	3,952,300	new

BOIL	proshares tr ii	0.20	50,000	267,000	new

BOIL	proshares tr ii	0.00	0.00	0.00	sold off	-100

CLST	catalyst bancorp inc	0.12	10,555	166,241	unchanged	0.00

CTGO	contango ore inc	1.42	71,406	1,885,830	unchanged	0.00

EBC	eastern bankshares inc	4.97	359,788	6,630,890	unchanged	0.00

ECBK	ecb bancorp inc	0.19	14,253	247,860	reduced	-11.7

ESOA	energy svcs acquisition corp	1.22	199,392	1,629,030	added	17.71

FBP	first bancorp p r	2.07	132,874	2,754,480	unchanged	0.00

FCX	freeport-mcmoran inc	0.00	0.00	0.00	sold off	-100

FNWD	finward bancorp	0.70	26,580	935,350	unchanged	0.00