IVFH

IVFH

IVFH

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Aug 28, 2025	River Oaks Capital	-	0.9%	BCIC, BFCC, BILD.V, BOC, CRMT, CZBS, DR.TO, FTLF, GFP, HAYPP, IVFH, OMCC, RRR.UN, SRBK, TRUX	Buybacks, Capital Allocation, management, Niche, Quality, small caps, value	River Oaks Capital focuses exclusively on small, underfollowed public companies with market caps ranging from $40m to $460m. The fund seeks wonderful businesses in small, niche industries that are remote islands too time-consuming for major players to conquer, allowing dominant companies to generate above average returns for decades.	IVFH BILD CN	View
2024 Q1	May 18, 2024	Greystone Capital	8.0%	16.0%	BELFB, DR.TO, IVFH, LMB, NNBR, SYZ	Food Distribution, management, Manufacturing, small caps, turnaround, value	Specialty food distributors like IVFH serve a critical niche in the food distribution ecosystem by providing add-on offerings for broadline distributors and sourcing quality fresh foods for professional chefs. The fragmented industry provides opportunities for M&A growth, with private equity actively pursuing specialty food distribution acquisitions.	NNBR IVFH	View
2025 Q4	Mar 1, 2026	River Oaks Capital	-	1.8%	ACNT, BFCC, BILD.TO, BOC, CRMT, CZBS, DR.TO, FTLF, GFP, HAYPP, IVFH, OMCC, RRR.UN, RWAY, SRBK, TRUX	Banking, Buybacks, Consolidation, Flooring, small cap, Specialty Chemicals, undervalued, value	River Oaks Capital focuses exclusively on small, underfollowed public companies with market caps typically under $500M. The manager believes these companies are increasingly ignored and undervalued, creating opportunities to buy wonderful businesses at extremely discounted valuations. The fund employs a value investing approach, seeking companies trading at significant discounts to fair value - often 50 cents on the dollar or less. The manager emphasizes buying wonderful businesses with strong fundamentals at excessive discounts. Share buybacks are a central theme, with the manager actively encouraging portfolio companies to repurchase shares aggressively using free cash flow, balance sheet cash, and proceeds from asset sales. This strategy allows adequate compensation until companies become properly valued. Ascent Industries represents a significant position focused on specialty chemical manufacturing. The company is transforming into a 'Chemicals-as-a-Service' model, providing customized solutions for small to mid-size customers neglected by larger players. BuildDirect operates as a physical and online professional flooring company with a long-term plan to consolidate the professional flooring industry through acquiring 75+ professional flooring centers across the U.S.		View
2024 Q4	Feb 10, 2025	River Oaks Capital	-	23.9%	BFCC, BOC, CRMT, CZBS, DR.TO, FTLF, GFP, HAYPP, IVFH, LRFC, MFBP, MSVB, OMCC, RRR.UN, SKYH, TRUX	Broadband, Buybacks, Capital Allocation, Community Banks, Micro Cap, small caps, underfollowed, value	River Oaks Capital focuses exclusively on investing in underfollowed micro cap and small cap companies with market capitalizations under $1 billion. The manager emphasizes that small public companies are inefficiently priced and remain undiscovered for many years due to the shift towards passive investing. The fund's strategy involves finding wonderful businesses trading at significant discounts to fair value in this neglected market segment.	IVFH	View
2025 Q3	Oct 30, 2025	Greystone Capital	-3.6%	1.6%	APG, BELFB, DR.TO, IVFH, KITS, NRP, SYZLF	Concentration, fundamentals, Quality, small caps, value	Manager emphasizes disciplined value investing approach, focusing on businesses with real assets, cash flows, and clean balance sheets trading at attractive valuations. Contrasts this with market's speculative appetite and overvaluation of quality stocks at 35-55x free cash flow multiples.	IVFH SYZLF CN IVFH SYZLF CN	View
2024 Q4	Jan 20, 2025	Greystone Capital	0.5%	19.2%	APOG, BELFB, DESP, FRAN, IVFH, LMB, NRP, SYZLF	Coal, Concentration, Distribution, Patience, royalties, small caps, value	Manager emphasizes small caps and microcaps are providing an excellent opportunity set for patient investors, largely remaining attractive due to current market environment favoring largest businesses. Portfolio consists of companies mostly outside major indices with zero S&P 500 holdings and just two Russell 2000 companies.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Greystone Capital	Innovative Food Holdings	Consumer Staples	Food Distributors	Bull	NASDAQ	asset-light, cash flow generation, M&A Target, Management Change, niche market, Professional Chefs, Specialty food distribution, turnaround	View Pitch
Apr 13, 2026	Fund Letters	River Oaks Capital	Innovative Food Holdings	Consumer Staples Distribution & Retail	Food Distributors	Bull	NASDAQ	asset-light, Broadline Distributors, Drop Shipping, Equity, Food service, niche market, Specialty food distribution, Tuck-in Acquisitions, turnaround	View Pitch
Jan 8, 2026	Fund Letters	Whit Huguley	Innovative Food Holdings, Inc.	Consumer Staples	Food Distributors	Bull	OTCQB	Distribution, efficiency, microcap, Specialty-Foods, turnaround	View Pitch
Nov 29, 2025	Fund Letters	Adam Wilk	Innovative Food Holdings	Consumer Staples	Specialty Distribution	Bull	NASDAQ	Distribution, Food, growth, management, restructuring, specialty, turnaround	View Pitch
Nov 29, 2025	Fund Letters	Adam Wilk	Innovative Food Holdings	Consumer Staples	Specialty Distribution	Bull	NASDAQ	Distribution, Food, growth, management, restructuring, specialty, turnaround	View Pitch

BSD Shareholders of IVFH

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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