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RAFFLES ASSOCIATES LP

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13F filer, CIK 1169581, NEW YORK, NY

RAFFLES ASSOCIATES LP reported $107,416,403 across 49 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 61.02% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001062993-25-016861

Period
2025-09-30
Reported value
$107M
Holdings
49
Top 10 weight
61.02%
New
7
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ProShares Ultra VIX Short-T…added+295,000$3.08M
COSOnew+124,281$2.71M
SQQQnew+100,000$1.52M
FCXnew+25,000$980K
PEPnew+5,000$702K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
IEreduced-308,000-$3.87M
PROSHARES TR IIexited-115,000-$2.56M
UUPreduced-75,000-$2.06M
SDSreduced-75,000-$1.08M
180 DEGREE CAP CORPexited-227,293-$903K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001062993-25-016861, largest first. % of portfolio is the value over $107,416,403, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SMBCSOUTHERN MO BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 233,047 shares; 2024Q4: 229,086 shares; 2025Q1: 229,249 shares; 2025Q2: 229,249 shares; 2025Q3: 229,086 shares 229,086$12M11.21%-163Timeline
LCTXLINEAGE CELL THERAPEUTICS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,507,781 shares; 2024Q4: 5,492,088 shares; 2025Q1: 5,642,088 shares; 2025Q2: 5,392,088 shares; 2025Q3: 5,387,788 shares 5,387,788$9.11M8.48%-4,300Timeline
IEIVANHOE ELECTRIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,111,077 shares; 2024Q4: 1,111,077 shares; 2025Q1: 1,086,077 shares; 2025Q2: 956,077 shares; 2025Q3: 648,077 shares 648,077$8.13M7.57%-308,000Timeline
VZLAVIZSLA SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,694,010 shares; 2024Q4: 1,719,010 shares; 2025Q1: 1,719,010 shares; 2025Q2: 1,689,010 shares; 2025Q3: 1,689,010 shares 1,689,010$7.3M6.79%0Timeline
EBCEASTERN BANKSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 349,788 shares; 2024Q4: 349,788 shares; 2025Q1: 359,788 shares; 2025Q2: 359,788 shares; 2025Q3: 359,788 shares 359,788$6.53M6.08%0Timeline
PROVPROVIDENT FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 393,420 shares; 2024Q4: 393,420 shares; 2025Q1: 393,420 shares; 2025Q2: 391,791 shares; 2025Q3: 391,791 shares 391,791$6.17M5.74%0Timeline
OFGOFG BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,067 shares; 2024Q4: 130,067 shares; 2025Q1: 120,067 shares; 2025Q2: 120,067 shares; 2025Q3: 120,067 shares 120,067$5.22M4.86%0Timeline
AFBIAFFINITY BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 198,919 shares; 2024Q4: 199,130 shares; 2025Q1: 199,130 shares; 2025Q2: 199,130 shares; 2025Q3: 199,130 shares 199,130$3.93M3.66%0Timeline
ProShares Ultra VIX Short-T…ProShares Ultra VIX Short-Term Fu…Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 50,000 shares; 2025Q3: 345,000 shares 345,000$3.6M3.35%+295,000
ASLEAERSALE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,000 shares; 2024Q4: 455,000 shares; 2025Q1: 455,000 shares; 2025Q2: 485,000 shares; 2025Q3: 430,000 shares 430,000$3.52M3.28%-55,000Timeline
FBPFIRST BANCORP CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 242,874 shares; 2024Q4: 242,874 shares; 2025Q1: 132,874 shares; 2025Q2: 132,874 shares; 2025Q3: 132,874 shares 132,874$2.93M2.73%0Timeline
VMDVIEMED HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 402,691 shares; 2024Q4: 402,691 shares; 2025Q1: 402,691 shares; 2025Q2: 402,691 shares; 2025Q3: 417,691 shares 417,691$2.84M2.64%+15,000Timeline
COSOCOASTALSOUTH BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 124,281 shares 124,281$2.71M2.52%newTimeline
UUPINVESCO DB US DLR INDEX TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 160,000 shares; 2025Q3: 85,000 shares 85,000$2.34M2.18%-75,000Timeline
MSOSADVISORSHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 253,000 shares; 2024Q4: 158,000 shares; 2025Q1: 410,000 shares; 2025Q2: 410,000 shares; 2025Q3: 460,000 shares 460,000$2.2M2.05%+50,000Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 220,000 shares; 2024Q4: 195,000 shares; 2025Q1: 305,000 shares; 2025Q2: 290,000 shares; 2025Q3: 240,000 shares 240,000$2.15M2%-50,000Timeline
JOBGEE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,499,638 shares; 2024Q4: 9,533,737 shares; 2025Q1: 9,508,737 shares; 2025Q2: 9,508,737 shares; 2025Q3: 9,508,737 shares 9,508,737$1.97M1.83%0Timeline
CTGOCONTANGO SILVER & GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,203 shares; 2024Q4: 46,554 shares; 2025Q1: 83,837 shares; 2025Q2: 71,406 shares; 2025Q3: 71,406 shares 71,406$1.78M1.66%0Timeline
ESOAENERGY SERVICES OF AMER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,533 shares; 2024Q4: 130,133 shares; 2025Q1: 178,133 shares; 2025Q2: 169,392 shares; 2025Q3: 169,392 shares 169,392$1.75M1.63%0Timeline
MAYSMAYS J W INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,439 shares; 2024Q4: 44,439 shares; 2025Q1: 44,439 shares; 2025Q2: 44,438 shares; 2025Q3: 44,438 shares 44,438$1.69M1.57%0Timeline
JOFJAPAN SMALLER CAPITALIZATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 224,025 shares; 2024Q4: 248,168 shares; 2025Q1: 245,368 shares; 2025Q2: 138,849 shares; 2025Q3: 147,289 shares 147,289$1.55M1.45%+8,440Timeline
SQQQProShares UltraPro Short QQQQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 20,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 100,000 shares 100,000$1.52M1.42%newTimeline
PKSTPEAKSTONE REALTY TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,987 shares; 2024Q4: 129,987 shares; 2025Q1: 129,987 shares; 2025Q2: 123,847 shares; 2025Q3: 107,000 shares 107,000$1.4M1.31%-16,847Timeline
NECBNORTHEAST CMNTY BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,500 shares; 2024Q4: 59,500 shares; 2025Q1: 59,500 shares; 2025Q2: 59,500 shares; 2025Q3: 59,500 shares 59,500$1.22M1.14%0Timeline
FBLAFB BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 73,664 shares; 2025Q2: 78,664 shares; 2025Q3: 97,099 shares 97,099$1.17M1.09%+18,435Timeline
MBBCMARATHON BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 107,664 shares; 2025Q3: 107,664 shares 107,664$1.12M1.05%0Timeline
NSTSNSTS BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,813 shares; 2024Q4: 93,813 shares; 2025Q1: 93,813 shares; 2025Q2: 93,774 shares; 2025Q3: 93,774 shares 93,774$1.08M1.01%0Timeline
NSSCNAPCO SEC TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,424 shares; 2024Q4: 27,424 shares; 2025Q1: 27,424 shares; 2025Q2: 24,424 shares; 2025Q3: 24,424 shares 24,424$1.05M0.98%0Timeline
TIPTTIPTREE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,801 shares; 2024Q4: 30,801 shares; 2025Q1: 30,801 shares; 2025Q2: 30,801 shares; 2025Q3: 51,801 shares 51,801$993K0.92%+21,000Timeline
FCXFREEPORT MCMORAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares 25,000$980K0.91%newTimeline
FNWDFINWARD BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 27,321 shares; 2024Q4: 27,321 shares; 2025Q1: 27,321 shares; 2025Q2: 26,580 shares; 2025Q3: 26,580 shares 26,580$853K0.79%0Timeline
VABKVIRGINIA NATL BK CHRLOTSVLEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,867 shares; 2024Q4: 21,037 shares; 2025Q1: 21,052 shares; 2025Q2: 19,036 shares; 2025Q3: 18,836 shares 18,836$731K0.68%-200Timeline
SDSPROSHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 230,000 shares; 2024Q4: 180,000 shares; 2025Q1: 99,000 shares; 2025Q2: 125,000 shares; 2025Q3: 50,000 shares 50,000$722K0.67%-75,000Timeline
PEPPEPSICO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,000 shares 5,000$702K0.65%newTimeline
KELYAKELLY SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 66,790 shares; 2025Q1: 51,790 shares; 2025Q2: 51,790 shares; 2025Q3: 51,790 shares 51,790$679K0.63%0Timeline
NBBKNB BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,154 shares; 2024Q4: 11,136 shares; 2025Q1: 11,136 shares; 2025Q2: 31,136 shares; 2025Q3: 31,136 shares 31,136$550K0.51%0Timeline
SIRISIRIUSXM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 19,194 shares; 2024Q4: 19,194 shares; 2025Q1: 19,194 shares; 2025Q2: 19,194 shares; 2025Q3: 19,194 shares 19,194$447K0.42%0Timeline
Rithm Property Trust IncRithm Property Trust IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,280 shares; 2024Q4: 257,007 shares; 2025Q1: 206,887 shares; 2025Q2: 206,887 shares; 2025Q3: 176,520 shares 176,520$445K0.41%-30,367
PERIPERION NETWORK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,000 shares 40,000$384K0.36%newTimeline
NWFLNORWOOD FINANCIAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 20,000 shares; 2025Q1: 20,000 shares; 2025Q2: 13,863 shares; 2025Q3: 12,863 shares 12,863$327K0.3%-1,000Timeline
SOCSABLE OFFSHORE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 15,000 shares 15,000$262K0.24%newTimeline
HHSHARTE HANKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 19,037 shares; 2025Q3: 69,364 shares 69,364$257K0.24%+50,327Timeline
ECBKECB BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,921 shares; 2024Q4: 42,461 shares; 2025Q1: 32,684 shares; 2025Q2: 28,099 shares; 2025Q3: 16,142 shares 16,142$256K0.24%-11,957Timeline
UBCPUNITED BANCORP INC OHIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,346 shares; 2024Q4: 15,353 shares; 2025Q1: 17,699 shares; 2025Q2: 17,699 shares; 2025Q3: 17,699 shares 17,699$247K0.23%0Timeline
HAINHAIN CELESTIAL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares; 2025Q3: 95,160 shares 95,160$150K0.14%-104,840Timeline
CLSTCATALYST BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,555 shares; 2024Q4: 10,555 shares; 2025Q1: 10,555 shares; 2025Q2: 10,555 shares; 2025Q3: 10,555 shares 10,555$139K0.13%0Timeline
ALTOALTO INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$108K0.1%0Timeline
MLCIMOUNT LOGAN CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 11,440 shares 11,440$89.2K0.08%newTimeline
AWXAVALON HLDGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,941 shares; 2024Q4: 22,941 shares; 2025Q1: 22,941 shares; 2025Q2: 22,941 shares; 2025Q3: 25,214 shares 25,214$65.8K0.06%+2,273Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
PROSHARES TR IIPROSHARES TR II115,000$2.56Mshares
180 DEGREE CAP CORP180 DEGREE CAP CORP227,293$903Kshares
POTBELLY CORPPOTBELLY CORP59,761$732Kshares
FRBAFIRST BK WILLIAMSTOWN NEW JE20,394$315Kshares
BRBSBLUE RIDGE BANKSHARES INC VA55,934$201Kshares
IAUXI-80 GOLD CORP300,000$180Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001062993-25-016861 base2025-11-14acceptance time not in the bulk data set