The St. Joe (JOE) Positions to Benefit from Land Appreciation and Population Migration

Praetorian Capital, an investment management company, released its second-quarter 2026 investor letter. A copy of the letter can be downloaded here. A copy of the letter can be downloaded here. In the quarter of 2026, the Praetorian Capital Fund LLC (the “Fund”) depreciated by 4.39% net of fees. The firm anticipates significant volatility from quarter to quarter due to the Fund’s concentrated portfolio approach and emphasis on asymmetric opportunities. Both the Event-Driven book and the...