2024-07-25 08:30:00 ET
Summary
- Praetorian Capital is a hedge fund managed by Harris “Kuppy” Kupperman dedicated to seeking non-correlated, asymmetric returns in a benchmarked world. The actively-managed strategy seeks absolute returns through highly-concentrated investments exhibiting inflecting secular or cyclical tailwinds, and Event Driven special situations.
- During the second quarter of 2024, Praetorian Capital Fund LLC depreciated by 1.69% net of fees.
- Given the Fund’s concentrated portfolio structure and focus on asymmetric opportunities, I anticipate that the Fund will be rather volatile from quarter to quarter.
During the second quarter of 2024, Praetorian Capital Fund LLC (the "Fund") depreciated by 1.69% net of fees.* Given the Fund's concentrated portfolio structure and focus on asymmetric opportunities, I anticipate that the Fund will be rather volatile from quarter to quarter. During the second quarter, our core portfolio positions were something of a mixed bag, with advances and declines, while the Event-Driven book produced a decent return, though we gave some of those gains back in June.
Praetorian Capital Fund LLC | ||
Gross Return | Net Return* | |
Q1 2024 | 11.90% | 9.25% |
Q2 2024 | -1.76% | -1.69% |
YTD 2024 | 9.94% | 7.41% |
2023 | 34.70% | 26.45% |
2022 | 16.38% | 11.95% |
2021 | 181.80% | 142.87% |
2020 | 161.87% | 129.49% |
2019 | 18.71% | 14.97% |
Since Inception (1/1/19) | 1409.66% | 874.33% |
* Unaudited net return data is estimated, net of all fees and expenses and 20% incentive allocation (using the expense structure in place at the time, which was: a maximum of 2% expenses from inception on January 1, 2019 through December 2020, and 1.25% management fee since January 2021). *Past performance is no guarantee of future results. Returns shown are calculated net of management and/or performance fees, and net of all other Fund expenses. |
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For further details see:
Praetorian Capital Fund Q2 2024 Investor Letter