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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
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| 2022 Q3 | Oct 20, 2022 | Cedar Creek Partners | -0.1% | 4.8% | BFCC, BMTX, CZBS, FSWA, HRBR, MFBP, PDRX, RBCN, ROYTL | - | View | ||
| 2024 Q2 | Aug 20, 2024 | River Oaks Capital | 0.0% | 5.1% | BEBE, BFCC, BOC, CRMT, CZBS, DR.TO, FTLF, GFP, GLXZ, HAYPP, LEGH, LRFC, MFBP, NICK, PRKA, RRR.UN, TRUX | Buybacks, Community Banks, Micro Cap, small caps, underfollowed, value | River Oaks owns multiple community banks including Citizens Bank, Truxton Bank, and Bankfirst. These banks benefit from ECIP capital and are executing strategic acquisitions and share buybacks. Citizens Bank has $90m+ cash for acquisitions while trading at 5 P/E ratio. | View | |
| 2024 Q2 | Jul 30, 2024 | Cedar Creek Partners | -0.1% | 4.8% | CZBS, ENDI, FIEB, IQV, LNF.TO, MFBP, PCHM, PDRX, PROM, ROYTL, SODI | Community Banks, Expert Market, Microcap, OTC, value | The fund holds multiple community bank positions including First IC Corporation, Citizens Bancshares, and exited M&F Bancorp. These banks offer attractive valuations with strong fundamentals, though management quality varies significantly across holdings. | CZBS ROYTL PROM PCHM ENDI FIEB |
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| 2023 Q2 | Jul 21, 2023 | Cedar Creek Partners | -0.1% | 4.8% | CZBS, FIEB, IQV, MFBP, PDRX, PROM, ROYTL, SODI | Banking, Expert Market, M&A, Microcap, value | Manager holds multiple community bank positions including Citizens Bancshares and M&F Bancorp, both recipients of Emergency Capital Investment Program funds. These banks trade at attractive valuations with potential for earnings growth through strategic acquisitions or organic expansion. | PROM |
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| 2023 Q1 | Apr 25, 2023 | Cedar Creek Partners | -0.1% | 4.8% | BMTX, CZBS, MFBP, PDRX, ROYTL, SODI, TMUS | Community Banks, concentrated, Expert Market, Microcap, value | Fund holds multiple community bank positions including Citizens Bancshares and M&F Bancorp, both recipients of Emergency Capital Investment Program funds. These banks are trading at attractive multiples with potential for earnings growth through acquisitions or organic expansion. | View | |
| 2023 Q1 | Apr 16, 2023 | Fairlight Alpha Fund | -13.0% | 14.1% | CZBS, MFBP, OPRA | Asia, Banking, Crisis, global, technology, value | Manager holds ECIP community banks MFBP and CZBS, which received preferred capital and additional funding through the CDFI program. While these banks have appreciated significantly and are viewed as good long-term investments, the manager has reduced exposure due to increasing competition for deposits and pressure on net interest margins from rising rates. | OPRA |
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| 2023 Q4 | Jan 27, 2024 | Fairlight Alpha Fund | -13.0% | 14.1% | CZBS, MCB.TO, MFBP | Automation, Community Banks, growth, small caps, technology, value | ECIP banks like Citizens Bancshares and M&F Bancorp are leveraging preferred stock as AT1 capital to double their balance sheets. These banks are priced around 5x earnings despite having growth ahead and extremely high capital adequacy levels, with CZBS reporting 19% CET1 ratio. | MCB.TO MFBP CZBS |
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| 2022 Q4 | Jan 20, 2023 | Cedar Creek Partners | -0.1% | 4.8% | CZBS, MFBP, MGAG, PDRX, ROYTL, SODI | - | View | ||
| 2022 Q4 | Jan 16, 2023 | Fairlight Alpha Fund | -13.0% | 14.1% | CZBS, MFBP, OPRA | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Apr 28, 2026 | Fund Letters | Fairlight Alpha Fund | M&F Bancorp | Financials | Regional Banks | Bull | NASDAQ | AT1 Capital, banking, CDFI, community banking, ECIP, financials, MDI, Minority Banking, regional bank | View Pitch |
| 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. | ||||||||