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 Logan Ridge Finance Corporation (NASDAQ:LRFC) in the second quarter 2024 investor letter. Logan Ridge Finance Corporation (NASDAQ:LRFC) is a Business Development Company. The one-month return of Logan Ridge Finance Corporation (NASDAQ:LRFC) was -2.10%, and its shares gained 0.51% of their value over the last 52 weeks. On September 3, 2024, Logan Ridge Finance Corporation (NASDAQ:LRFC) stock closed at $21.51 per share with a market capitalization of $57.562 million.
River Oaks Capital stated the following regarding Logan Ridge Finance Corporation (NASDAQ:LRFC) in its Q2 2024 investor letter:
“Logan Ridge Finance Corporation (NASDAQ:LRFC) is a BDC (Business Development Company) that provides financing to small and midsize private companies in the form of either debt or equity. This is an option of financing for those companies that outgrow their local bank but aren’t big enough for Wall Street or larger banks. It is our seventh largest position in the fund and now has a market cap of $60m.
CEO Ted Goldthorpe and his BC Partners team continue to execute their calculated turnaround at Logan Ridge Financial since they took over in 2021.
As mentioned in previous letters, I have gotten to know Ted over the past few years and he is an excellent steward of our capital. He is straightforward with me and all Logan Ridge investors about what stage of the turnaround they are in…”(Click here to read the full text)
An executive in a modern office, discussing business developments with a client.
Logan Ridge Finance Corporation (NASDAQ:LRFC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held Logan Ridge Finance Corporation (NASDAQ:LRFC) at the end of the second quarter which was 2 in the previous quarter. While we acknowledge the potential of Logan Ridge Finance Corporation (NASDAQ:LRFC) 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 Logan Ridge Finance Corporation (NASDAQ:LRFC) and shared River Oaks Capital’s views on the company in the previous quarter. 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.
