Dane 1Q Partners Letter

Dear Partner: We’re disappointed to report that in the 1 st quarter of 2018, Dane Capital Management (the “Fund”) generated a loss of 14.7%, net of fees and expenses. We certainly hoped to continue the momentum the Fund enjoyed last year, in which it produced a 50.2% return, net of fees and expenses. However, as we’ve stated, both when results have been disappointing or strong, Dane’s performance should be judged Continue Reading →

Arquitos Capital Partners – Q1 2018 Investor Letter

Dear Partner: Arquitos Capital Partners returned -9.1% net of fees in the first quarter of 2018. Our annualized net return since the April 10, 2012 launch is 30.2%. Please see page six for more detailed performance information. A few announcements before a discussion about the portfolio: Full letter for subscribers below: Please login to view the rest of this article – Not subscribed? Get our adfree exclusive content for only Continue Reading →

A $90M Stock With Lots of NOLs, tax credit carryforwards, Cash Etc Which Could Easily Double

Excerpt from the Stanphyl Capital letter to investors for the month of April 2018  discussing their long positions in two micro-cap plays. Stanphyl was profiled in the second edition of HVS and has had some of the best picks among all the funds we have profiled with 200%+ returns on some pitches. Teaser fror non subs followed by content for full members We continue to own XXXXXXXXXXXX, a designer and Continue Reading →

Alluvial Fund, LP first quarter letter to partners

Dear Partners, Alluvial Fund, LP was up modestly in the first quarter, returning 2.7%. The S&P 500 was down slightly, while the Russell 2000 treaded water. The small change in each market index’s ending value belies the volatility that markets experienced this quarter. I am pleased to say that even during the worst of the correction, Alluvial Fund’s holdings held up very well. At the lowest point, Alluvial Fund had Continue Reading →

Logos LP First Quarter

“Without frugality none can be rich, and with it very few would be poor.” – Samuel Johnson The following table represents Logos LP’s total return compared a basket of relevant indexes.  The price per unit as of March 31st, 2018 is $25.71 compared to $25.59 as of December 30th, 2017: At 19.95% compounded annually, the fund has achieved a cumulative return that is over 30% above the cumulative return of Continue Reading →