Artko Capital LP 2Q 2017 Partner Letter

For the 4th fiscal and 2nd calendar quarter of 2017, a partnership interest in Artko Capital LP returned 8.3% net of fees. At the same time, an investment in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—gained 2.5%, 3.8%, and 3.1%, respectively. For the 12 months of our fiscal 2017, an interest in Artko Capital LP returned 28.5% net of fees, while investments in the most comparable aforementioned market indexes were up 24.6%, 27.6%, and 17.9%, respectively. Our monthly results and related footnotes are available in the table at the end of this letter. We are excited to finish our second year as a partnership while maintaining a 20.4% internal rate of return (IRR) for our partners. As always, we are thankful for your long-term commitment to the partnership’s success.