1 month ago
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Soumya Eswaran
Mon, April 20, 2026 astatine 8:11 AM CDT 3 min read
Michigan-based concern advisor Cedar Grove Capital Management precocious released its archetypal 4th 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. Cedar Grove Capital Management’s Multi-Strategy Composite posted a -23.0% nett instrumentality since inception, compared to -5.6% for the Russell 2000, -5.9% for the Russell Microcap, and -5.5% for the S&P 500. Timing is cardinal for aboriginal money success, yet predicting outer shocks during volatile macroeconomic periods is impossible. Rather than speculate connected macro risks, it’s advisable to put successful beardown companies astatine tenable prices with bully maturation prospects. The caller downturn, called a "SaaS apocalypse," was an accidental to bargain prime stocks that were undervalued contempt amended fundamentals and imaginable AI-driven gains. In February and aboriginal March, astir each portfolio holdings reported beardown earnings. However, the outbreak of warfare successful Iran rapidly overshadowed these gains, causing a accelerated marketplace selloff. While macro factors wounded show successful Q1, the steadfast is assured that its companies volition bash good successful Q2 and beyond. In addition, delight cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2026.
In its first-quarter 2026 capitalist letter, Cedar Grove Capital Management highlighted stocks similar The Oncology Institute, Inc. (NASDAQ:TOI). The Oncology Institute, Inc. (NASDAQ:TOI) is an oncology institution focused connected providing assorted oncology services. On April 17, 2026, The Oncology Institute, Inc. (NASDAQ:TOI) closed astatine $3.54 per share. One-month instrumentality of The Oncology Institute, Inc. (NASDAQ:TOI) was 10.28%, and its shares gained 48.12% implicit the past 52 weeks. The Oncology Institute, Inc. (NASDAQ:TOI) has a marketplace capitalization of $349.89 million.
Cedar Grove Capital Management stated the pursuing regarding The Oncology Institute, Inc. (NASDAQ:TOI) successful its Q1 2026 capitalist letter:
"The Oncology Institute, Inc. (NASDAQ:TOI) is simply a niche oncology level that delivers end-to-end crab attraction for lower-cost outpatient areas. The concern strategy runs connected a value-based attraction (VBC) model, wherever it assumes hazard and is paid for managing full diligent outcomes alternatively than conscionable a modular billing per work model. This allows TOI to align incentives crossed payers, physicians, and patients, lowering the full outgo of attraction portion capturing economics crossed the afloat oncology worth chain. The banal show has done good since bottoming successful 2024, with caller absorption implementing changes that person straight led to accelerated topline maturation via caller payer contracts and accelerated maturation successful the pharmacy segment. The institution is presently inflecting towards an adjusted EBITDA profitability and is proving that operating leverage tin beryllium achieved arsenic their VBC exemplary continues to summation traction."
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