SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Praetorian PR LLC

CIK 0001949877 · CARR 429, KM 4.1, BO BARRERO, RINCON, PR, 00677 · 786-396-1281

Reported Value
$206M
Q4 2025
Positions
16
Filings on Record
15
2019–present window
Filed
Feb 17, 2026
original filing

Summary

Praetorian Pr LLC reported $206M in U.S.-listed holdings across 16 positions for Q4 2025.

The portfolio is heavily concentrated: SII alone accounts for 26.1% of reported value.

Compared with Q3 2025, the fund opened 5 new positions and exited 4.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+92.4%
share of reported value
Largest Position
+26.1%
Sprott
New / Exited
5 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’23: $137MQ1 ’23Q2 ’23: $163MQ3 ’23: $195MQ3 ’23Q4 ’23: $202MQ1 ’24: $317MQ1 ’24Q2 ’24: $272MQ3 ’24: $257MQ3 ’24Q4 ’24: $250MQ1 ’25: $231MQ1 ’25Q2 ’25: $108MQ3 ’25: $166MQ3 ’25Q4 ’25: $206MQ1 ’26: $275MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 68.1%Other: 29.9%Unit: 1.8%ADR: 0.1%
  • Common Stock · 68.1% · $141M
  • Other · 29.9% · $62M
  • Unit · 1.8% · $4M
  • ADR · 0.1% · $257,376

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
JBS N.V.NEW+750.0K750.0K+$11M$11M
LRNSTRIDE INCNEW+130.0K130.0K+$8M$8M
NWAX/UNEW AMER ACQUISITION I CORPNEW+360.0K360.0K+$4M$4M
TEXAS VENTURES ACQUISITION INEW+195.0K195.0K+$2M$2M
HSAIHESAI GROUPNEW+11.5K11.5K+$257,376$257,376
SNWVSANUWAVE HEALTH INCADDED+247.8K265.0K+$7M$8M
OPCHOPTION CARE HEALTH INCSOLD OUT−125.0K0−$3M$0
SPDR S&P 500 ETF TRSOLD OUT−4.3K0−$1M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SIISPROTT INChistory →COM NEW26.10%$54M550.0K
2JOEST JOE COhistory →COM18.99%$39M660.0K
3MAREX GROUP PLCORD9.29%$19M500.0K
4XP INCCL A7.93%$16M1.00M
5MPCMARATHON PETE CORPhistory →COM6.70%$14M85.0K
6JBS N.V.CL A SHS5.24%$11M750.0K
7VLOVALERO ENERGY CORPhistory →COM5.13%$11M65.0K
8RENATUS TACTICAL ACQUISSHS CL A5.09%$11M985.0K
9LRNSTRIDE INChistory →COM4.09%$8M130.0K
10SNWVSANUWAVE HEALTH INChistory →COM3.83%$8M265.0K
11PBFPBF ENERGY INChistory →CL A3.29%$7M250.0K
12NWAX/UNEW AMER ACQUISITION I CORPhistory →UNIT 99/99/99991.82%$4M360.0K
13DOLE PLCORD SHS1.26%$3M173.5K
14TEXAS VENTURES ACQUISITION IUSD CL A ORD SHS1.01%$2M195.0K
15HSAIHESAI GROUPSPONSORED ADS0.12%$257,37611.5K
16VALARIS LTD*W EXP 04/29/2020.12%$237,600135.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$275M13May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$206M16Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$166M15Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$108M10Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$231M25May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$250M24Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$257M14Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$272M17Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$317M23May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$202M13Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$195M27Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$163M28Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$137M21May 8, 202313F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.