Letters by company

ST JOE Co

2 letters discussing JOE. Everything written about it on this site is on its ticker page.

Praetorian Capital Q2 2026 Investor Letter Praetorian Capital doubled down on positions benefiting from its “Feudalism” framework while reducing exposure to real-GDP-linked businesses and using refiners as a hedge. It halted its event-driven book for the summer, shifted AI thinking toward second-order beneficiaries, and bought stakes in Lincoln Educational Services and Universal Technical Institute to capture worker reskilling demand. Q2 2026 JOE $3.8BLINC $710MMNGGF $0.5M
Praetorian Capital Q1 2026 Investor Letter Praetorian Capital retained a core book of inflation beneficiaries, volatility and exchange-volume exposures while trimming event-driven equities to preserve dry powder amid uncertainty over Hormuz. The fund argues Marex can compound through commodity-market volatility and consolidation, while building positions in emerging markets, precious-metals beneficiaries, St. Joe and refiners. Q1 2026 JOE $3.8BMRX $5B