In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Praetorian PR LLC reported 17 stock positions worth $239.5 million . Its top holding was Valaris (VAL) at 24.3% of the portfolio, followed by St Joe (JOE, 15.6% ) and Gold.com (GOLD, 10.9% ). Compared with Q3 2024, it opened 7 new positions, sold out of 2, added to 3 and reduced 5. The biggest buy was a new position in Draftkings Class A (DKNG) and the biggest sale Gold.com (GOLD, shares −30% ).
Location RINCON, PR
CIK 0001949877
Portfolio Value $239.5M (Q4 2024) Holdings 17 stocks · $239.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 VAL Valaris Ltd. 1,315,000 $58.2M Add +38.4% JOE The St Joe Co. 830,000 $37.3M No change GOLD Gold.com Inc. filed as A-MARK PRECIOUS METALS INC 950,000 $26.0M Reduce -29.6% TDW Tidewater Inc. 431,000 $23.6M Add +34.7% SII Sprott Inc. 550,000 $23.2M Reduce -4.3% DKNG Draftkings Inc. Class A 410,000 $15.3M New NE Noble Corp. PLC 400,000 $12.6M New XP XP Inc. Class A 1,000,000 $11.8M New TITN Titan Machinery Inc. 459,500 $6.5M Reduce -24.1% SBLK Star Bulk Carriers Corp. 419,174 $6.3M New LEE Lee Enterprises 261,282 $3.9M Reduce -26.1% INMB Inmune Bio Inc. 812,210 $3.8M Add +4.0% CSV Carriage Services Inc. 80,000 $3.2M No change GOLDEN OCEAN GROUP LTD 300,000 $2.7M New HDSN Hudson Technologies Inc. 400,000 $2.2M Reduce -0.3% MSOS Advisorshares Pure US Cann 500,000 $1.9M New SMH Vaneck Semiconductor ETF 1,250 $1.1M New
Options reported separately and not counted above: INVESCO QQQ TR puts ($2.6M), STATE STR SPDR S&P 500 ETF T puts ($1.5M), KRANESHARES TRUST calls ($157K), INMUNE BIO INC calls ($133K), ANTERO RESOURCES CORP calls ($38K).
Other holdings (2): bonds, preferreds, convertibles and warrants · $5.9M (not counted above) Security Class Shares / Principal Value Change VAL.WS Valaris Ltd. -CW28 *W EXP 04/29/202 858,020 $5.9M Add +5.6% Colombier Acquisition - 29 *W EXP 11/24/202 14,895 $24K New
Total filed on the 13F, all lines: $245.4M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ GOLD Gold.com Inc. Reduce -29.6% 10.87% −13.15 RELY Remitly Global Inc. Sold out 0.00% −5.93 NMR Nomura Holdings Inc.-Spon ADR Sold out 0.00% −1.20 TITN Titan Machinery Inc. Reduce -24.1% 2.71% −0.68 HDSN Hudson Technologies Inc. Reduce -0.3% 0.93% −0.42 SII Sprott Inc. Reduce -4.3% 9.68% −0.35 LEE Lee Enterprises Reduce -26.1% 1.61% +0.37
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ DKNG Draftkings Inc. Class A New 6.37% +6.37 NE Noble Corp. PLC New 5.24% +5.24 XP XP Inc. Class A New 4.95% +4.95 VAL Valaris Ltd. Add +38.4% 24.29% +2.96 SBLK Star Bulk Carriers Corp. New 2.62% +2.62 GOLDEN OCEAN GROUP LTD New 1.12% +1.12 MSOS Advisorshares Pure US Cann New 0.80% +0.80 TDW Tidewater Inc. Add +34.7% 9.85% +0.59 SMH Vaneck Semiconductor ETF New 0.47% +0.47 INMB Inmune Bio Inc. Add +4.0% 1.58% −0.11
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ INVESCO QQQ TR put New 2,000 $2.6M STATE STR SPDR S&P 500 ETF T put New 950 $1.5M INMUNE BIO INC call New 792 $133K ANTERO RESOURCES CORP call New 300 $38K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ VAL.WS Valaris Ltd. -CW28 *W EXP 04/29/202 Add +5.6% 858,020 $5.9M Colombier Acquisition - 29 *W EXP 11/24/202 New 14,895 $24K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 14 $313.8M SII, UTI, JOE, MPC, MRX Q1 2026 12 $274.9M SII, JOE, UTI, MPC, MRX Q4 2025 15 $206.1M SII, JOE, MRX, XP, MPC Q3 2025 11 $163.6M SII, JOE, XP, MPC, MRX Q2 2025 8 $105.4M SII, JOE, XP, GOLD, VAL Q1 2025 17 $215.5M VAL, JOE, SII, TDW, XP Q4 2024 17 $239.5M VAL, JOE, GOLD, TDW, SII Q3 2024 12 $248.2M GOLD, VAL, JOE, SII, TDW Q2 2024 15 $262.2M VAL, JOE, GOLD, TDW, SII Q1 2024 19 $303.1M VAL, JOE, TDW, GOLD, GDXJ