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Small and Microcap funds to follow


jawn619

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I remember someone asked a question earlier about what good small and microcap funds to follow. I couldn't find the old thread so decided to post the ones I follow for everyone.

I really like Lloyd Miller and have talked with a couple of the funds. There are some smart ninjas in this space.

 

Lloyd Miller III

Steel partners

Cannell capital

Royce & associates

David Nierenberg

Peter Kellogg

Kinderhook

Diker Capital

Bandera partners

Hummingbird Value

Vulcan Value

Brian Bares, Bares Capital Management, CIK 0001340807

Glenn Fuhrman and John Phelan, MSD Capital, CIK 0001105497

Jeffrey Gates, Gates Capital Management, CIK 0001312908

Paul O ’Leary, Raffles Associates, CIK 0001169581

Robert Robotti, Robotti & Company, CIK 0001105838

Wilbur Ross, WL Ross, CIK 0001128452

Toby Symonds, Altai Capital Management, CIK 0001478982

John Lewis, Osmium Partners. Search for CIK 0001316729

 

Baker Street Capital Management, LLC CIK#: 0001488207

Moab Capital Partners LLC CIK#: 0001377817

GREENWOOD INVESTMENTS, INC. CIK#: 0001121943

RUTABAGA CAPITAL MANAGEMENT LLC/MA CIK#: 0001128239

Nantahala Capital Management, LLC CIK#: 0001472322

Sagard Capital Partners, L.P. CIK#: 0001423385

Mangrove Partners Fund, L.P. CIK#: 0001486623

Schultze Asset Management, LLC CIK#: 0001297629

Raging Capital Management, LLC CIK#: 0001444376

12 West Capital Management LP CIK#: 0001540531

COGHILL CAPITAL MANAGEMENT LLC CIK#: 0001162675

Venor Capital Management LP (Filer) CIK: 0001399348

Trigran Investments, Inc. CIK#: 0001336800

Indaba Capital Management, L.P. CIK#: 0001524362

Meson Capital Partners LLC CIK#: 0001535880

Bulldog Investors CIK#: 0001462180

Candlewood Investment Group, LP CIK#: 0001531741

 

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You've talked with Lloyd?  Impressions?  Any names he mentioned?  Did you guys discuss VULC?

 

Sorry that was misleading. I meant I really like Lloyd Miller as an investor and have looked extensively at his holdings. I put more weight on some of those guys than others. I haven't spoken with Lloyd but would love to understand some of his holdings...MFC industrial and SLTC for example.

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I think some of the names here take more concentrated positions than other.  I think when some of the smaller funds taken concentrated 10-30% positions in industries that you can understand, it is a very meaningful signal.  I find that Steel Partners tend to take control of companies and roll it into a the Steel Partners conglomerate.  Steel tends to have their own agenda and it typically doesn't work that well for the minority.  Royce's largest position is less than 2%, I find that to be hardly a signal.  If Baker Street takes control of a net-net in an industry that you understand, it's probably a good bet to coattail them as they will probably put the company up for sale.  However, their large cap and energy selection have been so-so lately. 

 

A pretty good list   

 

I remember someone asked a question earlier about what good small and microcap funds to follow. I couldn't find the old thread so decided to post the ones I follow for everyone.

I really like Lloyd Miller and have talked with a couple of the funds. There are some smart ninjas in this space.

 

Lloyd Miller III

Steel partners

Cannell capital

Royce & associates

David Nierenberg

Peter Kellogg

Kinderhook

Diker Capital

Bandera partners

Hummingbird Value

Vulcan Value

Brian Bares, Bares Capital Management, CIK 0001340807

Glenn Fuhrman and John Phelan, MSD Capital, CIK 0001105497

Jeffrey Gates, Gates Capital Management, CIK 0001312908

Paul O ’Leary, Raffles Associates, CIK 0001169581

Robert Robotti, Robotti & Company, CIK 0001105838

Wilbur Ross, WL Ross, CIK 0001128452

Toby Symonds, Altai Capital Management, CIK 0001478982

John Lewis, Osmium Partners. Search for CIK 0001316729

 

Baker Street Capital Management, LLC CIK#: 0001488207

Moab Capital Partners LLC CIK#: 0001377817

GREENWOOD INVESTMENTS, INC. CIK#: 0001121943

RUTABAGA CAPITAL MANAGEMENT LLC/MA CIK#: 0001128239

Nantahala Capital Management, LLC CIK#: 0001472322

Sagard Capital Partners, L.P. CIK#: 0001423385

Mangrove Partners Fund, L.P. CIK#: 0001486623

Schultze Asset Management, LLC CIK#: 0001297629

Raging Capital Management, LLC CIK#: 0001444376

12 West Capital Management LP CIK#: 0001540531

COGHILL CAPITAL MANAGEMENT LLC CIK#: 0001162675

Venor Capital Management LP (Filer) CIK: 0001399348

Trigran Investments, Inc. CIK#: 0001336800

Indaba Capital Management, L.P. CIK#: 0001524362

Meson Capital Partners LLC CIK#: 0001535880

Bulldog Investors CIK#: 0001462180

Candlewood Investment Group, LP CIK#: 0001531741

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  • 10 months later...

Does anyone know Baker's Street's actual returns? They've been heavy into SHLD and WAC so I can't imagine very good (if not abysmal).

 

2.7% annualized since 2009

was down 41% last year

 

thanks nate. Dang, that's worse than I thought.

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Oddball/Jawn/Anyone

 

Any of these guys trying to do any Buffett style outright purchases...and abuse the businesses cash flow into other opertunities?

 

There are a fair number of companies that abuse their cash flow ;)

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Does anyone know Baker's Street's actual returns? They've been heavy into SHLD and WAC so I can't imagine very good (if not abysmal).

 

2.7% annualized since 2009

was down 41% last year

 

thanks nate. Dang, that's worse than I thought.

 

What a turn of fund performance? At one point, Baker Street had one of the most enviable track record in the hedge fund world.  I believe their CAGR was around 50% per year for 3-4 years in a row. 

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  • 3 weeks later...

You've talked with Lloyd?  Impressions?  Any names he mentioned?  Did you guys discuss VULC?

 

Oddball,

Curious why you mentioned VULC?

 

I own some shares and have tried to get in touch with mgmt  to get full financials etc. Left voicemails, wrote emails and all I got was radio silence.

 

 

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You've talked with Lloyd?  Impressions?  Any names he mentioned?  Did you guys discuss VULC?

 

Oddball,

Curious why you mentioned VULC?

 

I own some shares and have tried to get in touch with mgmt  to get full financials etc. Left voicemails, wrote emails and all I got was radio silence.

 

Lloyd is a huge investor with VULC.  Has been involved in lawsuits for almost a decade, was a Director at one point.  Search PACER, lots of law filings between the two.

 

I'm connected with a number of VULC investors who have the financials and additional information.  Send me an email or PM.

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  • 11 months later...

If anyone is interested in British small cap companies, then Keith Aswort-Lord's Buffettology fund is definitely worth following.

 

http://www.sanford-deland.com/6/the-buffettology-fund/fund-performance

 

The fund name sounds hokey as hell, but the results that Keith has generated have been sensational. I have personally met Keith too, he is a manager of outstanding integrity.

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  • 5 months later...

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