PC
Praetorian Capital Management LLC Historical SEC 13F Holdings & Archive (Q1 2023)
Praetorian Capital Management LLCCIK: 0001337851
Sector-focusedLong-term holderQuality / disciplined sizing
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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Personality snowflake
- Concentration
- 66.67
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 40
- Sizing Uniformity
- 84.33
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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew 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
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
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 |
Portfolio Performance
Performance for Q3 2026
+3.8%
Performance Last 4 Quarters
+39.9%
- Stdev
- +24.6%
- Beta
- +0.56
- Alpha
- -2.7%
- Max Drawdown
- -39.6%
- Annualized Perf
- +5.8%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +0.55
- Stutzer
- +0.1
- Treynor
- +0.15
- Sterling
- +0.2
- Calmar
- +0.15
- Information Ratio
- -0.47
- Tracking Error
- +24.1%
- Stdev Down
- +15.7%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +78.6%
- Worst 12 Months
- -32.9%
- Efficiency Ratio
- +0.09
- Sharpe
- +0.35
- Stdev Sectors
- +45.2%
- Skewness
- +0.02
- Kurtosis
- -0.74
- Upside Potential
- +2.54
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
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 |
Filing History
FAQ
What is Praetorian Capital Management LLC and what type of investor is it?
Praetorian Capital Management LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2023-03-31), the firm manages a tracked equity portfolio valued at approximately $136.9M, spread across 21 disclosed positions.
What are Praetorian Capital Management LLC's largest equity positions?
Based on the latest 13F filing, Praetorian Capital Management LLC's top holdings by market value are:
1. St Joe Co/the (JOE) — $33.7M (24.6%)
2. United States Brent Oil Fund (BNO) — $33.7M (24.6%)
3. Valaris Limited (VAL) — $23.0M (16.8%)
4. Tidewater Inc (TDW) — $14.3M (10.5%)
5. Gold.com Inc (GOLD) — $7.9M (5.8%)
What changes did Praetorian Capital Management LLC make in its most recent portfolio filing?
In the latest reported quarter, Praetorian Capital Management LLC made 26 notable position adjustments: 10 new positions were initiated, 5 existing holdings were added to, 3 positions were partially reduced, and 8 were completely exited. The largest of these moves: 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)
What sectors does Praetorian Capital Management LLC focus on?
Praetorian Capital Management LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 95.2%
• Information Technology: 4.8%
Investment Profile
Praetorian Capital Management LLC returned an annualized 5.8% over the trailing 36 months — underperforming the S&P 500 by 2.7 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.56 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 95.2% of the portfolio concentrated in Energy.
Its concentration score has fallen from 84 to 67 over the past 1 quarters — a shift toward broader diversification.
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Developer Access
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