Cedar Creek Partners recently released its Q3 2020 Investor Letter, a copy of which you can download here. The fund posted a return of 5.4% in the third quarter of 2020, underperforming its benchmark, the S&P 500 which returned 9.0% 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 said letter, Cedar Creek Partners highlighted a few stocks and P10 Holdings Inc. (NYSE:PIOE) is one of them. P10 Holdings Inc. (NYSE:PIOE) is an alternative asset management investment firm. Year-to-date, P10 Holdings Inc. (NYSE:PIOE) stock gained 208.3% and on October 20th it had a closing price of $4.10. Here is what Cedar Creek Partners said:
“P10 Holdings (PIOE) – During the quarter we significantly reduced the fund’s position from 7% to less than 1%. Our cost basis was just over $1 per share, with most of the shares purchased in the summer of 2018. During the quarter the bid price increased 57% from $2.51 to $3.94 per share. In Q3 they announced the acquisition of TrueBridge. TrueBridge has assets under management of roughly $3.3 billion. As we analyzed the acquisition, we came to the conclusion that based on an EBITDA run rate of $55 million and a fully diluted enterprise value of over $800 million that the stock was fairly valued.”
Our calculations showed that P10 Holdings Inc. (NYSE:PIOE) isn’t ranked among the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 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. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.