Cedar Creek
Cedar Creek Partners
Micro-cap
Mar 2026 → Jun 2026
Our archive holds 2 letters from this strategy, behind 4 investment theses and positions in 14 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in a year — follow all of Cedar Creek for every strategy.
What it bought and sold
With the sale of PharmChem in 2025 there is only one such holding in the fund at present.
We began accumulating shares of Harbor Diversified after its December 18, 2025, announcement that the company was selling its Air Wisconsin subsidiary and all related aircraft in three separate deals for aggregate consideration of $113 million.
PD-Rx Pharmaceuticals has been shrinking as a position.
Queen City Investments (otc: QUCT) is a position the fund re-entered after attending their annual meeting in 2025.
Also held
Its investment theses
- PHI GroupMar 2026PHI Group is a leading helicopter services provider that improved margins post-bankruptcy and appears undervalued versus peers.
- Steele BancorpMar 2026Steele Bancorp is a merged Pennsylvania community bank showing strong synergies, high cash earnings, and a low valuation multiple.
- Harbor DiversifiedMar 2026Harbor Diversified is a cash-rich holding after selling Air Wisconsin, trading well below estimated net cash with catalysts from strategic alternatives.
- ENDI CorpMar 2026ENDI Corp owns CrossingBridge Advisors with growing AUM, solid financials, and potential product launches supporting continued value growth.