Artko Capital LP 3Q 2018 Partner Letter

For the third calendar quarter of 2018, an average partnership interest in Artko Capital LP returned 0.5% 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 3.6%, 0.8%, and 7.6%, respectively. For first nine months of calendar 2018, an average partnership interest in Artko Capital LP returned 11.8% net of fees, while investments in the most comparable aforementioned market indexes were up 11.5%, 11.6%, and 10.2%, respectively. Our monthly results and related footnotes are available in the table at the end of this letter. Our results this quarter came from contributions from Tesla puts and Research Solutions. Pullbacks in Gaia and Skyline Champion detracted from the overall performance.