Rangeley Capital, LLC
Rangeley Capital, LLC is an investment adviser and hedge fund manager headquartered in New Canaan, Connecticut. Founded in November 2006, the firm primarily focuses on event-driven investment strategies and is majority owned by Christopher DeMuth, Jr. Rangeley Capital serves institutional and high net worth clients, managing a concentrated portfolio of public equities and certain alternative investments. As of mid-2025, the firm manages approximately $83 million in assets and maintains a small, focused team structure.
Investment Strategy
Rangeley Capital utilizes a rigorous, event-driven investment approach, focusing mainly on publicly traded equities where catalyst events such as mergers, spin-offs, liquidations, and corporate restructurings provide unique return opportunities. The firm employs deep fundamental research and positions itself with a concentrated portfolio where its top holdings represent a significant percentage of the overall assets. High turnover and average holding periods of less than a year reflect a dynamic, opportunity-driven style, with a particular emphasis on value extraction from special situations and market inefficiencies.
Top Holdings
Equity Positions (67)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SAGE | SAGE THERAPEUTICS INC | 7.94% | $6.7M | 730,000 | $8.50 | $9.12 | +$3.6M |
D DK | DELEK US HLDGS INC NEW | 7.91% | $6.6M | 313,000 | $18.45 | $21.18 | +$1.5M |
A ARVN | ARVINAS INC | 6.10% | $5.1M | 694,800 | $7.09 | $7.36 | +$1.3M |
C CLMT | CALUMET INC | 6.00% | $5.0M | 319,000 | $22.02 | $15.76 | -$1.6M |
P PRTA | PROTHENA CORP PLC | 5.18% | $4.3M | 715,367 | $6.07 | $6.07 | +$4.3M |
Options Positions (3)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
C CHTR | CHARTER COMMUNICATIONS INC N | — | Call | $3.7M | 90 | $408.81 | $342.77 | 0 | +$362.5K |
B BBIO | BRIDGEBIO PHARMA INC | — | Call | $215.9K | 50 | $43.18 | $27.44 | 0 | +$43.0K |
W WOW | WIDEOPENWEST INC | New | Call | $203.0K | 500 | $4.06 | $4.06 | +500 | +$203.0K |