Top 5 Stock Picks of Andrew Wiener’s Samjo Capital

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In this article, we discuss the top 5 stock picks of Andrew Wiener’s Samjo Capital. If you want to read our detailed analysis of Wiener’s history, investment philosophy, and hedge fund performance, go directly to Top 10 Stock Picks of Andrew Wiener’s Samjo Capital.

5. Thryv Holdings, Inc. (NASDAQ:THRY)

Samjo Capital’s Stake Value: $8,492,000
Percentage of Samjo Capital’s Portfolio: 7.26%
Number of Hedge Fund Holders: 20

Thryv Holdings, Inc. (NASDAQ:THRY) works with small and medium-sized enterprises to provide digital marketing solutions and cloud-based technologies. Overall, hedge funds are loading up on Thryv Holdings, Inc. (NASDAQ:THRY), as 20 out of the 912 funds tracked by Insider Monkey held stakes in the company, up from 13 funds a quarter earlier.

Samjo Capital started building its position in Thryv Holdings, Inc. (NASDAQ:THRY) in the fourth quarter of 2020. The hedge fund elevated its position in Thryv Holdings, Inc. (NASDAQ:THRY) by 29% in Q1 2022, holding 302,000 shares worth over $8.49 million. The stock accounted for 7.26% of the fund’s total 13F portfolio.

In its Q1 2022 investor letter, Laughing Water Capital mentioned Thryv Holdings, Inc. (NASDAQ:THRY) and discussed its stance on the firm. Here is what the fund said:

“Thryv Inc (THRY) – Thryv, our company that has been using their declining Yellow Pages business as a base from which to build a cloud-based software product that allows small and medium businesses to greatly improve efficiency, traded down by about 30% in the first quarter. Subsequent to quarter end the company hosted an investor day where for the first time they presented their vision of the future. In brief, they laid out a plan to more than 5x SaaS revenues by 2027, and then 4x revenues again by 2032.

I am of course skeptical of this level of growth, but the trend of small businesses digitizing their operations is undeniably in very early days, providing an attractive playing field. Further, the management team here has an excellent track record of past success. CEO Joe Walsh and his team have been together for more than 20 years, and in that period they built one company from $20M in revenue to $2B in revenue, and led another company through a SaaS transformation that saw the share price go up 20x. Today’s undemanding valuation means that Thryv can fall well short of their goals (and management’s past success) and we should still be handsomely rewarded. If they are able to execute in-line with their expectations, the investment will be a grand slam. Importantly, they have already proven that this business can generate cash; if growth disappoints they can simply de-emphasize growth spending and focus on cash flow…” (Click here to see the full text)

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