Artko Capital LP 3Q 2020 Partner Letter

For the third calendar quarter of 2020, an average partnership interest in Artko Capital LP returned 22.0% net of fees. At the same time, investments in the most comparable market indexes—Russell 2000, Russell Microcap, and the S&P 500—were up 4.9%, 3.7%, and 8.9% respectively. For the first 9 months of calendar 2020, an average partnership interest in Artko Capital LP was down 32.4% net of fees, while investments in the aforementioned market indexes were down 8.7%, 7.9%, and up 5.6% respectively. Our detailed results and related footnotes are available in the table at the end of this letter. Our results this quarter came from a near tripling in Flotek as well as modest contributions from Gaia and HireQuest.