Praetorian Capital
Our archive holds 7 letters from Praetorian Capital, behind 9 investment theses and positions in 5 companies. Every quote below is copied verbatim from the letter it came from.
What they bought and sold · 1 move
- AddedMarex Group plcJune 2026
“Fortunately, Marex (MRX – USA) powered higher on elevated volatility, though our Event- Driven book gave back prior gains.”
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Companies held · 5
Every company Praetorian Capital has disclosed a position in across our archive, with the letter that last mentioned it.
- Berkshire Hathaway Inc.Jun 2026
- Lincoln Educational Services CorporationJun 2026
- Marex Group plcJun 2026
- St. Joe CompanyJun 2026
- Universal Technical Institute, Inc.Jun 2026
Theses · 9
- June 2026
St. Joe owns large Florida Panhandle भूमि and is viewed as undervalued with strong revenue growth, high ROIC, and inflation- and migration-driven upside.
Read the full thesis - June 2026
Lincoln Educational Services trains skilled trades and medical workers and is seen as a cheap, high-growth beneficiary of AI-driven reskilling with margin expansion potential.
Read the full thesis - June 2026
Universal Technical Institute trains skilled trades and medical workers and is expected to benefit from AI-driven reskilling, campus expansion, and margin growth.
Read the full thesis - March 2026
Marex Group plc is gaining share in trading solutions for mid-market clients, delivering strong ROE and earnings growth with attractive valuation and long-term compounding potential amid rising market volatility.
Read the full thesis - December 2025
The St. Joe Company is a Florida Panhandle landowner with attractive AFFO valuation, high ROIC, and tailwinds from inflation and migration driving growth.
Read the full thesis - December 2025
Marex Group plc is a brokerage gaining share and consolidating mid-market clients amid rising hedging demand, trading at a low multiple with high ROE and compounding potential.
Read the full thesis - September 2025
JOE is a strategically positioned land investment in the Florida Panhandle, poised for significant growth due to increasing demand, favorable taxation, and population migration from urban areas.
Read the full thesis - December 2024
The company JOE is poised for significant growth due to its extensive land ownership and business operations in rapidly developing Florida counties, with the potential for a 67% appreciation in net asset value next year.
Read the full thesis - December 2024
Valaris is a compelling investment opportunity due to its strong asset base, potential for significant cash flow growth, and downside protection from a robust backlog and balance sheet.
Read the full thesis
Letter archive · 7
2025
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