Artko Capital 1Q 2022 Partner Letter

For the first calendar quarter of 2022, an average partnership interest in Artko Capital LP was down 11.4% net of fees. At the same time, investments in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—were down 7.5%, 7.6%, and 4.6% respectively. Our detailed results and related footnotes are available in the table at the end of this letter. Our results this quarter came from Currency Exchange International as well as modest contributions from US Ecology warrants while the rest of the portfolio declined with the broader markets.