River Oaks Capital’s Third Largest Position: Boston Omaha (BOC)

River Oaks Capital, an investment management company, released its fourth-quarter investor letter. A copy of the letter can be downloaded here. For the one year period, the fund returned 23.9% compared to the Russell 2000 TR’s 11.5% return and the Russell Microcap TR’s 13.7% return. In addition, please check the fund’s top five holdings to know its best picks in 2024.

In its fourth quarter 2024 investor letter, River Oaks Capital emphasized stocks such as Boston Omaha Corporation (NYSE:BOC). Headquartered in headquartered in Omaha, Nebraska, Boston Omaha Corporation (NYSE:BOC) operates outdoor billboard advertising business. The one-month return of Boston Omaha Corporation (NYSE:BOC) was 1.10%, and its shares lost 5.39% of their value over the last 52 weeks. On February 20, 2025, Boston Omaha Corporation (NYSE:BOC) stock closed at $14.84 per share with a market capitalization of $463.857 million.

River Oaks Capital stated the following regarding Boston Omaha Corporation (NYSE:BOC) in its Q4 2024 investor letter:

“Boston Omaha Corporation (NYSE:BOC) is a holding company that divides itself into four main segments: Billboard, Broadband, Insurance and Other Investments. It is our third largest position in the fund and now has a market cap of $445m.

This September I traveled to Omaha, Nebraska for the Boston Omaha annual meeting. This meeting was undoubtedly the most important shareholders’ meeting since Boston Omaha started in 2015 as the beginning of this year was filled with turmoil and uncertainty – including their co-CEO Alex Rozek leaving (with a large premium paid for his super voting shares) and the closing down of their asset management division.

I was able to catch up with CEO Adam Peterson and his team before the meeting and was immediately reminded of what a wonderful group of top-notch people Adam has surrounded himself with. During the meeting, I thought Adam did a perfect job explaining where Boston Omaha is now, how he plans to simplify the business and their succinct plans going forward…” (Click here to read the full text)

A digital billboard on a bustling street corner, showing the modern way of advertising.

Boston Omaha Corporation (NYSE:BOC) is not on our list of 30 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 fourth quarter compared to 11 in the third 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 River Oaks Capital’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.