CIK: 0001337851
Total reported value
$136.9M
Reporting period: 2023-03-31 · Number of holdings: 21
Praetorian Capital Management LLC disclosed 21 holdings in its latest 13F filing for the period ending 2023-03-31, with total reported value of $136.9M and a quarterly turnover rate of 0.0%.
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Praetorian Capital Management LLC's disclosed holdings carry a Herfindahl concentration index of 0.167 — mathematically equivalent to about 6 equally-sized positions, well below its 21 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.57), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 29% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
New buy GOLD
Trim JOE
-10.3% -$1.2M
Trim BNO
+3.6% -$920.6K
Trim VAL
0.0% -$905.7K
Trim LEE
0.0% -$2.2M
New buy FC
Showing top 20 holdings (of 21 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | JOE | St Joe Co/the | Stock-Other | 24.59% | -3.60% | -10.27% | |
| 2 | BNO | United States Brent Oil Fund | ETF-Other | 24.58% | -3.39% | +3.57% | |
| 3 | VAL | Valaris Limited | Stock-Energy | 16.81% | -2.53% | — | |
| 4 | TDW | Tidewater INC | Stock-Energy | 10.46% | +0.92% | +1.56% | |
| 5 | GOLD | Gold.com INC | Stock-Other | 5.77% | +5.77% | NEW | |
| 6 | LEE | Lee Enterprises | Stock-Other | 3.22% | -2.09% | — | |
| 7 | TSQ | Townsquare Media INC - Cl A | Stock-Other | 2.45% | +0.53% | +27.97% | |
| 8 | FC | Franklin Covey Co | Stock-Other | 1.89% | +1.89% | NEW | |
| 9 | ✓ | 1847 Goedeker INC | Stock-Other | 1.87% | -0.36% | +3.15% | |
| 10 | SURG | Surgepays INC | Stock-Other | 1.57% | -1.56% | -18.64% | |
| 11 | DK | Delek US Holdings INC | Stock-Other | 1.44% | +1.44% | NEW | |
| 12 | OLED | Universal Display Corporation | Stock-Tech | 1.37% | +0.58% | +46.87% | |
| 13 | ✓ | Astronics CORP | Stock-Other | 1.25% | +1.25% | NEW | |
| 14 | GLD | Spdr Gold Shares | ETF-Commodities | 1.05% | +1.05% | NEW | |
| 15 | TG7 | Triumph Group INC | Stock-Other | 0.59% | +0.59% | NEW | |
| 16 | ✓ | Marketwise INC | Stock-Other | 0.50% | -0.19% | -27.99% | |
| 17 | AU3EUR | Anglogold Ashanti-spon Adr | Stock-Other | 0.38% | +0.38% | NEW | |
| 18 | SLV | Ishares Silver Trust | ETF-Commodities | 0.20% | +0.20% | NEW | |
| 19 | WEATUSD | Teucrium Wheat Fund | ETF-Other | — | — | NEW | |
| 20 | USO | United States Oil Fund LP | ETF-Other | — | +0.02% | NEW |
Performance for Q3 2026
-13.7%
Performance Last 4 Quarters
+40.3%
Based on 75% of reported portfolio value with available pricing
Praetorian Capital Management LLC's most significant position changes for 2023-03-31: New buy: Gold.com INC (GOLD); New buy: Franklin Covey Co (FC); New buy: Delek US Holdings INC (DK); New buy: Astronics CORP; New buy: Spdr Gold Shares (GLD).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOLD | Gold.com INC | +5.8% | NEW | New buy |
| 2 | FC | Franklin Covey Co | +1.9% | NEW | New buy |
| 3 | DK | Delek US Holdings INC | +1.4% | NEW | New buy |
| 4 | ✓ | Astronics CORP | +1.3% | NEW | New buy |
| 5 | GLD | Spdr Gold Shares | +1.1% | NEW | New buy |
| 6 | TDW | Tidewater INC | +0.9% | +1.56% | Add |
| 7 | TG7 | Triumph Group INC | +0.6% | NEW | New buy |
| 8 | OLED | Universal Display Corporation | +0.6% | +46.87% | Add |
| 9 | TSQ | Townsquare Media INC - Cl A | +0.5% | +27.97% | Add |
| 10 | AU3EUR | Anglogold Ashanti-spon Adr | +0.4% | NEW | New buy |
| 11 | SLV | Ishares Silver Trust | +0.2% | NEW | New buy |
| 12 | USO | United States Oil Fund LP | 0% | NEW | New buy |
| 13 | WEATUSD | Teucrium Wheat Fund | — | NEW | New buy |
| 14 | RSX1USD | Vaneck Vectors Russia ETF | — | EXIT | Sold out |
| 15 | ✓ | United Sts Brent Oil Fd LP | 0% | EXIT | Sold out |
| 16 | FCX | Freeport-McMoRan Inc. | 0% | EXIT | Sold out |
| 17 | UPS | United Parcel Service, Inc. | -0.1% | EXIT | Sold out |
| 18 | ✓ | Teucrium Commodity Tr | -0.1% | EXIT | Sold out |
| 19 | ✓ | First Majestic Silver CORP | -0.1% | EXIT | Sold out |
| 20 | ✓ | Marketwise INC | -0.2% | -27.99% | Trim |
| 21 | SLV | iShares Silver Trust | -0.3% | EXIT | Sold out |
| 22 | ANEB | Anebulo Pharmaceuticals INC | -0.4% | EXIT | Sold out |
| 23 | ✓ | 1847 Goedeker INC | -0.4% | +3.15% | Add |
| 24 | SURG | Surgepays INC | -1.6% | -18.64% | Trim |
| 25 | LEE | Lee Enterprises | -2.1% | — | Unchanged |
| 26 | VAL | Valaris Limited | -2.5% | — | Unchanged |
| 27 | BNO | United States Brent Oil Fund | -3.4% | +3.57% | Add |
| 28 | JOE | St Joe Co/the | -3.6% | -10.27% | Trim |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2023-03-31 | 2023-05-31 | Amendment | View on EDGAR |
| 2023-03-31 | 2023-05-08 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
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