13F-HR 1 form13f-hr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2013 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, L.P. Address One Penn Plaza, Suite 1628 New York, NY 10119 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 this 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 Title President of General Partner Phone 212 760 2322 Signature, Place, and Date of Signing: /s/ Paul H. O'Leary New York, NY 5/14/2013 ------------------- ------------- --------- [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 reported are 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: 46 Form 13F Information Table Value Total: 86,313 (thousands) 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. NONE FORM 13F INFORMATION TABLE
COL 1 COL 2 COL 3 COL 4 COL 5 COL 6 COL 7 COL 8 US $ SHARES VALUE OR SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- --------- --- ---- ------- ---------- --------- -------- -------- AIRCASTLE LTD COM G0129K104 1263 92300 SH 0 0 0 AERCAP HOLDINGS NV SHS N00985106 2591 167723 SH 0 0 0 ADVANTAGE OIL & GAS LTD COM 00765F101 1480 400000 SH 0 0 0 ALEXCO RESOURCE CORP COM 01535P106 3967 1203671 SH 0 0 0 AMERICAN INDEPENDENCE CORP COM NEW 026760405 968 138145 SH 0 0 0 AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 1748 115000 SH 0 0 0 AVALON HLDGS CORP CL A 05343P109 928 232969 SH 0 0 0 BCSB BANCORP INC COM 055367106 604 35000 SH 0 0 0 BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 822 41000 SH 0 0 0 CIFC CORP COM 12547R105 2103 255507 SH 0 0 0 CHEVIOT FINL CORP NEW COM 16677X105 803 70000 SH 0 0 0 CONSOL ENERGY INC COM 20854P109 841 25000 SH 0 0 0 COWEN GROUP INC NEW CL A 223622101 71 25000 SH 0 0 0 ELDORADO GOLD CORP NEW COM 284902103 4427 463385 SH 0 0 0 EMERALD OIL INC COM NEW 29101U209 2748 390284 SH 0 0 0 FARMERS NATL BANC CORP COM 309627107 323 51128 SH 0 0 0 FLY LEASING LTD SPONSORED ADR 34407D109 785 48506 SH 0 0 0 GASTAR EXPL LTD COM NEW 367299203 1817 1032604 SH 0 0 0 LIBERTY MEDIA CORP DELAWARE CL A 531229102 1996 17878 SH 0 0 0 MAG SILVER CORP COM 55903Q104 3537 372900 SH 0 0 0 MAGNUM HUNTER RES CORP DEL COM 55973B102 1123 280000 SH 0 0 0 MALVERN BANCORP INC COM 561409103 2937 240900 SH 0 0 0 MAYS J W INC COM 578473100 1222 54620 SH 0 0 0 MOUNTAIN PROV DIAMONDS INC COM NEW 62426E402 110 25000 SH 0 0 0 NAPCO SEC TECHNOLOGIES INC COM 630402105 869 217186 SH 0 0 0 NAUGATUCK VY FINL CORP MD COM 63906P107 2319 330321 SH 0 0 0 NEVSUN RES LTD COM 64156L101 392 100000 SH 0 0 0 NOVACOPPER INC COM 66988K102 62 33333 SH 0 0 0 OBA FINL SVCS INC COM 67424G101 2801 147407 SH 0 0 0 PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 1192 97300 SH 0 0 0 PACIFIC PREMIER BANCORP COM 69478X105 1192 90673 SH 0 0 0 PLATINUM GROUP METALS LTD COM NEW 72765Q205 1711 1216450 SH 0 0 0 POLYMET MINING CORP COM 731916102 214 178400 SH 0 0 0 PROVIDENT FINL HLDGS INC COM 743868101 8228 483700 SH 0 0 0 RED LION HOTELS CORP COM 756764106 6218 874487 SH 0 0 0 REIS INC COM 75936P105 2878 185209 SH 0 0 0 SONDE RES CORP COM 835426107 1649 1197386 SH 0 0 0 SOUTHERN MO BANCORP INC COM 843380106 4856 184979 SH 0 0 0 STANDARD FINL CORP MD COM 853393106 4670 239508 SH 0 0 0 U S ENERGY CORP WYO COM 911805109 528 317970 SH 0 0 0 VICON INDS INC COM 925811101 169 63196 SH 0 0 0 VISHAY PRECISION GROUP INC COM 92835K103 2277 155000 SH 0 0 0 WAYNE SVGS BANCSHARES INC NE COM 94624Q101 943 94005 SH 0 0 0 WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1426 118800 SH 0 0 0 WILLIS LEASE FINANCE CORP COM 970646105 592 39169 SH 0 0 0 WOLVERINE BANCORP INC COM 977880103 1913 100700 SH 0 0 0