Artko Capital 3Q16 Partner Letter

For the 1st fiscal and 3rd calendar quarter of 2016, a partnership interest in Artko Capital LP returned 10.6% 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 9.1% 11.3%, and 3.9%, respectively. For the first nine months of calendar 2016, an interest in Artko Capital LP returned 19.8% net of fees while investments in the most comparable aforementioned market indexes were up 11.5%, 9.4%, and up 7.8%, respectively. Our monthly, quarterly and cumulative results are available in the table within this letter. We are happy about our performance this quarter and will focus the letter on discussing how we got there.