Praetorian Capital Fund letter to investors for the third quarter ended September 30, 2024.
During the third quarter of 2024, Praetorian Capital Fund LLC (the “Fund”) depreciated by 2.29% 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 third quarter, our core portfolio positions mostly declined, while the Event-Driven book produced a slightly positive return.
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During the first nine months of the year, effectively all of our net performance has come from the Event-Driven book, with a slightly negative return from...
