Vulcan Corp.'s value is predominantly in a large stock portfolio amassed in the past three decades. They are hiding it from investors as shareholders are required to sign NDAs.
The lack of information is no longer a significant problem as their 2016 financials recently surfaced.
Their liquid stock portfolio is discounted by the market by at least $22 million. If we add their real estate assets there could be an upside potential of 76% here.
The management is happy with the status-quo and disrespects the minority shareholders. While they do not actively burn the value of the company, they are not utilizing it.
The situation might change. VULC is likely liable to file 13F form which could add transparency without the need of change in management’s attitude. This would act as a catalyst.
I believe that Vulcan International (OTCPK:VULC) is presenting investors with an attractive opportunity even despite having one of the most obscure corporate setups out there in the ‘public’ OTC market.