Praetorian Capital’s Q2 2022 Investor Letter

Praetorian Capital, an investment management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. During the second quarter of 2022, the fund declined by 15.69% net of fees. For 2022, the fund’s performance for the first half of the year, net of fees, was -2.58%. Given the fund’s concentrated portfolio structure and focus on asymmetric opportunities, they anticipate that the fund will be rather volatile from quarter to quarter. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.