LFCR - Arquitos Capital Management Q4 2024 Commentary

2025-02-05 07:10:00 ET

Summary

• Arquitos Fund achieved a 29.6% return in 2024, outperforming the S&P 500's 25.0% return, driven by strategic investments in key positions.
• Finch Therapeutics, a 7% portfolio holding, won a significant patent case, potentially leading to enhanced damages and substantial share price appreciation.
• Liquidia Therapeutics is poised for a strong 2025 with FDA approval expected for Yutrepia, which could dominate the PAH and PH-ILD markets.
• Nam Tai Property and ENDI Corp remain strong holdings, with Nam Tai resolving key issues and ENDI providing stable, high-potential returns.

Dear Partner

Arquitos returned 29.6% net of fees and expenses in 2024, compared to 25.0% for the S&P 500 ( SP500 , SPX ).

I am as confident as I have ever been in the potential for our top four positions to perform exceptionally well in 2025. Please find my commentary on each of them below....

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