# EDGAR Filing Document

**Accession Number:** 0001169581
**File Stem:** 0001062993-23-003553
**Filing Date:** 2023-2
**Character Count:** 8380
**Document Hash:** 39d7aae429567b6d65f0751729b3c18d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-23-003553.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001062993-23-003553

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RAFFLES ASSOCIATES LP
- **CENTRAL INDEX KEY:** 0001169581
- **IRS NUMBER:** 043272997
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12413
- **FILM NUMBER:** 23633036

**BUSINESS ADDRESS:**
- **STREET 1:** 5 PENN PLAZA
- **STREET 2:** 19TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 212-760-2322

**MAIL ADDRESS:**
- **STREET 1:** 5 PENN PLAZA
- **STREET 2:** 19TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** RAFFLES ASSOCIATES LP<br>**Address:** 5 PENN PLAZA<br>19TH FLOOR<br>NEW YORK, NY 10001

**Form 13F File Number:** 028-12413

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Paul H. O'Leary<br>**Title:** President of General Partner<br>**Phone:** 212 760 2322

**Signature, Place, and Date of Signing:**

/s/ Paul H. O'Leary  New York, NY  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 47

**Form 13F Information Table Value Total:** $85438270

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 180 DEGREE CAP CORP | COM NEW | 68235B208 |  | 1289750 | 244271 | SH |  | SOLE |  | 244271 | 0 | 0 |
| AFFINITY BANCSHARES INC | COM | 00832E103 |  | 3753970 | 248607 | SH |  | SOLE |  | 248607 | 0 | 0 |
| ALTO INGREDIENTS INC | COM | 021513106 |  | 432000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 878500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| AVALON HLDGS CORP | CL A | 05343P109 |  | 63090 | 22941 | SH |  | SOLE |  | 22941 | 0 | 0 |
| BAR HBR BANKSHARES | COM | 066849100 |  | 323600 | 10100 | SH |  | SOLE |  | 10100 | 0 | 0 |
| BARRICK GOLD CORP | COM | 067901108 |  | 2147500 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 741900 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| BLUE RIDGE BANKSHARES INC VA | COM | 095825105 |  | 124900 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| CATALYST BANCORP INC | COMMON STOCK | 14888L101 |  | 134050 | 10555 | SH |  | SOLE |  | 10555 | 0 | 0 |
| COMSTOCK RES INC | COM | 205768302 |  | 959700 | 70000 | SH |  | SOLE |  | 70000 | 0 | 0 |
| EASTERN BANKSHARES INC | COM | 27627N105 |  | 9976190 | 578330 | SH |  | SOLE |  | 578330 | 0 | 0 |
| ENERGY SVCS ACQUISITION CORP | COM | 29271Q103 |  | 953510 | 370525 | SH |  | SOLE |  | 370525 | 0 | 0 |
| FINWARD BANCORP | COM | 31812F109 |  | 1008970 | 27872 | SH |  | SOLE |  | 27872 | 0 | 0 |
| FIRST BANCORP P R | COM NEW | 318672706 |  | 4106960 | 322874 | SH |  | SOLE |  | 322874 | 0 | 0 |
| FIRST SEACOAST BANCORP | COM | 33631P102 |  | 555260 | 58142 | SH |  | SOLE |  | 58142 | 0 | 0 |
| GEE GROUP INC | COM | 36165A102 |  | 4367790 | 8913857 | SH |  | SOLE |  | 8913857 | 0 | 0 |
| GULFPORT ENERGY CORP | COMMON SHARES | 402635502 |  | 589120 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| IVANHOE ELECTRIC INC | COM | 46578C108 |  | 182250 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| KRANESHARES TR | CSI CHI INTERNET | 500767306 |  | 755000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM C BRAVES GRP | 531229888 |  | 483450 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM A SIRIUSXM | 531229409 |  | 702780 | 17878 | SH |  | SOLE |  | 17878 | 0 | 0 |
| LINEAGE CELL THERAPEUTICS IN | COM | 53566P109 |  | 1798230 | 1536946 | SH |  | SOLE |  | 1536946 | 0 | 0 |
| MAYS J W INC | COM | 578473100 |  | 2137520 | 44439 | SH |  | SOLE |  | 44439 | 0 | 0 |
| NAPCO SEC TECHNOLOGIES INC | COM | 630402105 |  | 918490 | 33424 | SH |  | SOLE |  | 33424 | 0 | 0 |
| NEXGEN ENERGY LTD | COM | 65340P106 |  | 1107500 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| NORTHEAST CMNTY BANCORP INC | COM | 664121100 |  | 969800 | 65000 | SH |  | SOLE |  | 65000 | 0 | 0 |
| NORWOOD FINL CORP | COM | 669549107 |  | 433520 | 12964 | SH |  | SOLE |  | 12964 | 0 | 0 |
| NSTS BANCORP INC | COM | 6293JP109 |  | 950330 | 93813 | SH |  | SOLE |  | 93813 | 0 | 0 |
| OFG BANCORP | COM | 67103X102 |  | 551200 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 |  | 2293300 | 190000 | SH |  | SOLE |  | 190000 | 0 | 0 |
| PARAMOUNT GLOBAL | CLASS B COM | 92556H206 |  | 1688000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| POPULAR INC | COM NEW | 733174700 |  | 8953200 | 135000 | SH |  | SOLE |  | 135000 | 0 | 0 |
| POTBELLY CORP | COM | 73754Y100 |  | 333700 | 59910 | SH |  | SOLE |  | 59910 | 0 | 0 |
| PROFRAC HLDG CORP | CLASS A COM | 74319N100 |  | 630000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| PROVIDENT FINL HLDGS INC | COM | 743868101 |  | 5251180 | 381349 | SH |  | SOLE |  | 381349 | 0 | 0 |
| ETF MANAGERS TR | PRIME JUNIR SLVR | 26924G102 |  | 791250 | 75000 | SH |  | SOLE |  | 75000 | 0 | 0 |
| RILEY EXPLORATION PERMIAN IN | COM | 76665T102 |  | 1368500 | 46500 | SH |  | SOLE |  | 46500 | 0 | 0 |
| SOUTHERN MO BANCORP INC | COM | 843380106 |  | 10645940 | 232292 | SH |  | SOLE |  | 232292 | 0 | 0 |
| UNITED BANCORP INC OHIO | COM | 909911109 |  | 220820 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 891250 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| VIEMED HEALTHCARE INC | COM | 92663R105 |  | 2286280 | 302418 | SH |  | SOLE |  | 302418 | 0 | 0 |
| VIRGINIA NATL BANKSHARES COR | COM | 928031103 |  | 1479010 | 40344 | SH |  | SOLE |  | 40344 | 0 | 0 |
| VIZSLA SILVER CORP | COM NEW | 92859G202 |  | 230000 | 200000 | SH |  | SOLE |  | 200000 | 0 | 0 |
| VOXX INTL CORP | CL A | 91829F104 |  | 1135490 | 135500 | SH |  | SOLE |  | 135500 | 0 | 0 |
| WESTERN NEW ENG BANCORP INC | COM | 958892101 |  | 571120 | 60372 | SH |  | SOLE |  | 60372 | 0 | 0 |
| WILLIAM PENN BANCORPORATION | COM | 96927A105 |  | 3272400 | 270000 | SH |  | SOLE |  | 270000 | 0 | 0 |

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