River Oaks Capital, an investment management company, released its second-quarter investor letter. A copy of the letter can be downloaded here. Year to date, the fund returned 5.1% compared to the Russell 2000 TR’s 1.7% return and the Russell Microcap TR’s -0.8% return. River Oaks Capital concentrates on investing with a business owner, and long-term mindset in a select number of underfollowed publicly traded micro-caps and small caps. In addition, please check the fund’s top five holdings to know its best picks in 2024.
River Oaks Capital highlighted stocks like Boston Omaha Corporation (NYSE:BOC), in the second quarter 2024 investor letter. Boston Omaha Corporation (NYSE:BOC) engages in the outdoor billboard advertising business. The one-month return of Boston Omaha Corporation (NYSE:BOC) was 6.80%, and its shares lost 19.13% of their value over the last 52 weeks. On August 30, 2024, Boston Omaha Corporation (NYSE:BOC) stock closed at $14.29 per share with a market capitalization of $449.551 million.
River Oaks Capital stated the following regarding Boston Omaha Corporation (NYSE:BOC) in its Q2 2024 investor letter:
“Boston Omaha Corporation (NYSE:BOC) is a holding company that divides itself into four main segments: Billboard, Insurance, Broadband, and Asset Management. It is our third largest position in the fund and now has a market cap of $410m.
When River Oaks invested in Boston Omaha in 2021, I expected it to be a quiet, uneventful investment that would slowly compound capital at above average returns for years and decades to come.
So far, it has been anything but that!
This May, Co-CEO Alex Rozek stepped down from Boston Omaha and immediately sold all his shares. It is hard to say what exactly lead to Alex stepping down – press release attached here – but it was apparent a few months before that something wasn’t right within the company…” (Click here to read the full text)
A technician installing high-speed internet cables.
Boston Omaha Corporation (NYSE:BOC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Boston Omaha Corporation (NYSE:BOC) at the end of the second quarter which was 13 in the previous quarter. While we acknowledge the potential of Boston Omaha Corporation (NYSE:BOC) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Boston Omaha Corporation (NYSE:BOC) and shared the list of best conglomerate stocks to buy. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
