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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.
Latest 13F Filing Activity
Rangeley Capital, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 67 equity positions and 3 options positions with a total 13F market value of $84M. The fund increased holdings in Prothena Corp. PLC, Sage Therapeutics Inc., Iteos Therapeutics Inc. among other positions. Rangeley Capital, LLC reduced exposure to Burford Cap LTD, Amplify Energy Corp. New, Liquidia Corporation among others.
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)
Industry Allocation
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