Cedar Creek Partners recently released its Q1 2021 Investor Letter, a copy of which you can download here. The fund posted a return of 19.7% in the first quarter of 2021, outperforming its benchmark, the S&P 500 which returned 6.3% in the same period. You should check out Cedar Creek Partners’ top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.
In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Solitron Devices Inc (NYSE:SODI) is one of them. Solitron Devices Inc (NYSE:SODI) is a semiconductor company. In the last three months, Solitron Devices Inc (NYSE:SODI) stock gained 29% and on May 18th it had a closing price of $8.95. Here is what the fund said:
“Solitron Devices (SODI), where I am the CEO, the bid price for shares rose 40% in the quarter from $5.00 per share to $7.00. During the quarter, Solitron filed its audited financials for fiscal years 2019 and 2020, quarterly results for the first three quarters of fiscal 2021, and announced it had entered into an agreement to purchase a new building for $4.2 million, and expects to make improvements to the building in order to relocate its existing operations later in the calendar year. Currently Soliton is in a rented facility. Subsequent to the end of the quarter, Solitron closed on the building purchase, putting 25% down and financing the balance at 3.8% fixed rate for the first ten years.”
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Cedar Creek Partners has been a long time Solitron Devices Inc (NYSE:SODI) bull. In October 2020, we shared Cedar Creek Partners’ bullish SODI’s thesis in this article.
Our calculations showed that Solitron Devices Inc (NYSE:SODI) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
