Investment management company River Oak Capital recently released its second-half 2023 investor letter. A copy of the same can be downloaded here. In 2023, the fund returned 8.3% compared to 26.3% for the S&P 500, 16.9% for the Russell 2000, and 9.3% for the Russell Microcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
River Oak Capital featured stocks such as Legacy Housing Corporation (NASDAQ:LEGH) in the fourth quarter 2023 investor letter. Headquartered in Bedford, Texas, Legacy Housing Corporation (NASDAQ:LEGH) builds, sells, and finances manufactured homes and tiny houses. On February 16, 2024, Legacy Housing Corporation (NASDAQ:LEGH) stock closed at $25.06 per share. One-month return of Legacy Housing Corporation (NASDAQ:LEGH) was 4.75%, and its shares gained 22.46% of their value over the last 52 weeks. Legacy Housing Corporation (NASDAQ:LEGH) has a market capitalization of $607.844 million.
River Oak Capital stated the following regarding Legacy Housing Corporation (NASDAQ:LEGH) in its fourth quarter 2023 investor letter:
“Legacy Housing Corporation (NASDAQ:LEGH) builds and finances manufactured homes. It is our tenth largest position in the fund and now has a market cap of $580m.
In October, I went to the Legacy Housing Home Show where the company displayed its new manufactured home styles to dealers. Afterwards I was able to attend the annual dinner where I spent time with the two co-founders Curt Hodgson and Kenny Shipley as well as CEO Duncan Bates and some of their new team members.
Since being hired as CEO less than two years ago, Duncan has made amazing progress. He has done a fantastic job at professionalizing the business, improving investor relations, and continuing to hire top tier talent.…”(Click here to read the full text)
Aerial view of a standard residential neighborhood with multiple rows of relatively new houses representing the company’s real estate investments.
Legacy Housing Corporation (NASDAQ:LEGH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Legacy Housing Corporation (NASDAQ:LEGH) was held by 10 hedge fund portfolios, compared to 10 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Worst Cities in the Southwest for Retirees
- 20 Best Small Cities to Live in the US
- 25 Most Valuable Semiconductor Companies In The World
Disclosure: None. This article is originally published at Insider Monkey.