Artko Capital 4Q 2016 Partner Letter

For the 2nd fiscal and 4th calendar quarter of 2016, a partnership interest in Artko Capital LP returned 11.2% 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 8.8%, 10.1%, and 3.8%, respectively. For the 12 months of calendar 2016, an interest in Artko Capital LP returned 33.2% net of fees, while investments in the most comparable aforementioned market indexes were up 21.3%, 20.4%, and 12.0%, respectively.

Our quarterly, monthly and cumulative results are available in the tables within the attached letter. We are happy about our performance this quarter and will focus the letter on discussing how we got there.