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Disclosery

Praetorian PR LLC

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13F filer, CIK 1949877, RINCON, PR

Praetorian PR LLC reported $274,962,530 across 13 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 96.88% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001949877-26-000004

Period
2026-03-31
Reported value
$275M
Holdings
13
Top 10 weight
96.88%
New
5
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UTInew+1,000,000$36.1M
LRNadded+70,000$6.17M
FUTUnew+45,000$6.15M
LINCnew+141,000$5.74M
RKTnew+200,000$2.85M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
JBSexited-750,000-$10.8M
RTACexited-985,000-$10.5M
PBFexited-250,000-$6.78M
NWAXUexited-360,000-$3.75M
DOLEexited-173,500-$2.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001949877-26-000004, largest first. % of portfolio is the value over $274,862,480, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SIISPROTT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 575,000 shares; 2024Q4: 550,000 shares; 2025Q1: 550,000 shares; 2025Q2: 550,000 shares; 2025Q3: 550,000 shares; 2025Q4: 550,000 shares; 2026Q1: 550,000 shares 550,000$78.6M28.59%0Timeline
JOEST JOE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 830,000 shares; 2024Q4: 830,000 shares; 2025Q1: 835,000 shares; 2025Q2: 660,000 shares; 2025Q3: 660,000 shares; 2025Q4: 660,000 shares; 2026Q1: 675,000 shares 675,000$42.4M15.42%+15,000Timeline
UTIUNIVERSAL TECHNICAL INST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,000,000 shares 1,000,000$36.1M13.13%newTimeline
MPCMARATHON PETE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 70,000 shares; 2025Q4: 85,000 shares; 2026Q1: 95,000 shares 95,000$23.2M8.44%+10,000Timeline
MRXMAREX GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 400,000 shares; 2025Q4: 500,000 shares; 2026Q1: 500,000 shares 500,000$22.3M8.11%0Timeline
XPXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,000,000 shares; 2025Q1: 1,200,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares; 2025Q4: 1,000,000 shares; 2026Q1: 1,000,000 shares 1,000,000$19M6.93%0Timeline
LRNSTRIDE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 130,000 shares; 2026Q1: 200,000 shares 200,000$17.6M6.42%+70,000Timeline
VLOVALERO ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 65,000 shares; 2025Q4: 65,000 shares; 2026Q1: 60,000 shares 60,000$14.8M5.39%-5,000Timeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 45,000 shares 45,000$6.15M2.24%newTimeline
SNWVSANUWAVE HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,250 shares; 2025Q4: 265,000 shares; 2026Q1: 350,000 shares 350,000$6.05M2.2%+85,000Timeline
LINCLINCOLN EDL SVCS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 141,000 shares 141,000$5.74M2.09%newTimeline
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 200,000 shares 200,000$2.85M1.04%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
VERIZON COMMUNICATIONS INCVERIZON COMMUNICATIONS INC COMcall500$100Knew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
JBSJBS N.V.750,000$10.8Mshares
RTACRENATUS TACTICAL ACQUIS985,000$10.5Mshares
PBFPBF ENERGY INC250,000$6.78Mshares
NWAXUNEW AMER ACQUISITION I CORP360,000$3.75Mshares
DOLEDOLE PLC173,500$2.6Mshares
TVATEXAS VENTURES ACQUISITION I195,000$2.08Mshares
HSAIHESAI GROUP11,490$257Kshares
VALWSVALARIS LTD135,000$238Kshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001949877-26-000004 base2026-05-15acceptance time not in the bulk data set