Praetorian Capital’s Q4 2023 Investor Letter

Praetorian Capital, an investment management company, released its fourth-quarter 2023 investor letter. In the fourth quarter, the fund was up by 6.85% net of fees, and full-year returns were up by 26.45% net of fees. Since inception, the fund appreciated by 807.13% net of fees, or at a 55.43% CAGR. Many of the fund’s fundamental portfolio positions had gains in the fourth quarter, while the Event-Driven book saw a moderately positive return. For more information on the fund’s top picks in 2023, please check its top five holdings.

A copy of Praetorian Capital’s Q4 2023 investor letter can be downloaded here.