Arquitos Capital Management, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. An annual portfolio net return of 54.9% was recorded by the fund for the whole year of 2021, versus the S&P 500 Index which delivered a 28.7% return for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Arquitos Capital Management, in its Q4 2021 investor letter, mentioned Enterprise Diversified, Inc. (NYSE: SYTE) and discussed its stance on the firm. Enterprise Diversified, Inc. is a Lynchburg, Virginia-based investment holding company with a $20.1 million market capitalization. SYTE delivered a -19.58% return since the beginning of the year, while its 12-month returns are up by 1.33%. The stock closed at $7.60 per share on February 19, 2022.
Here is what Arquitos Capital Management has to say about Enterprise Diversified, Inc. in its Q4 2021 investor letter:
“For Enterprise Diversified, due to regulatory requirements, I am unable to provide additional comments at this time beyond the press release. But below is an excerpt of my quote in the release, along with the quote from David Sherman, who is the founder of CrossingBridge, the company Enterprise Diversified is acquiring.
ENDI Chairman Steven Kiel commented, ‘Today’s announcement is an exciting step forward for the Company. ENDI, through Willow Oak, has been focused on growing our footprint in the asset management space. We ran an extensive search process and CrossingBridge represents everything we are looking for in a partner. David and the CrossingBridge team bring extensive expertise and
strategic relationships that will benefit the company and our shareholders. We are confident that this partnership will accelerate our long-term goals as it adds complementary offerings, expands our resources, and ultimately offers a wider scope of opportunities for future growth.’He further noted, ‘CrossingBridge is a highly regarded investment manager whose vision and successful execution for growth will substantially enhance the Company.’
David Sherman, founder and portfolio manager for CrossingBridge, who will become ENDI Corp.’s CEO, commented, ‘We are extremely excited to join forces with the ENDI team to reach our collective goals. CrossingBridge has been delivering unique and differentiated products that help our clients fill specific needs within their fixed income portfolios. This merger with ENDI will help us expand our current product lineup and allow us to focus on acquisitions to expand the solutions and services that we offer as a firm. ENDI has a strong team in place, and we believe our complementary skills and contacts will further accelerate our plans for growth.'”
Photo by Joshua Mayo on Unsplash
Our calculations show that Enterprise Diversified, Inc. (NYSE: SYTE) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Enterprise Diversified, Inc. (NYSE: SYTE) delivered a -7.88% return in the past 3 months. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
