# Accumulating $NGVC, $TRAK, and $PRTH

*Permalink: https://kumarletter.com/posts/accumulating-ngvc-trak-and-prth*

*Published: 2025-03-31*

I think my accumulated portfolio above will outperform 95% of $250M or less VC, PE, and Hedge funds in the next 5 years in terms of risk, liquidity, and returns.   
  
I guesstimate a 7x on $TRAK in 5 years or less. [repositrak.com](https://repositrak.com)  
I guesstimate a 3x on $PRTH in 5 years or less. [prioritycommerce.com](https://www.prioritycommerce.com)  
I guesstimate a 4x on $NGVC in 5 years or less.[naturalgrocers.com](https://naturalgrocers.com)  
  
**Repositrak - $TRAK**   
$TRAK - you can read all my tweets about it if you search.   
  
**Priority Commerce - $PRTH**   
$PRTH - is a sleeping juggernaut fintech company that combines 

- [Plastiq](https://www.plastiq.com)
- [rollfi.xyz](https://rollfi.xyz) (i missed out on angel investing in Rollfi and had even met the founder years ago...facepalm.) 
- [**ACH**](https://ach.com)
- [**Healthcare Platform Payments**](https://prioritycommerce.com/solutions/merchant-services/payright/) **-**  
- CFTPay - [Debt Resolution Platform ](https://prioritycommerce.com/solutions/priority-commerce-engine/cftpay/)
- Traditional credit card processing 

I see $PRTH as a 7-8 headed beast when I look at it versus Stripe.   
  
It has 140bn in annual processing volume or 1/10th of Stripe's volume.   
It has as of this morning a 560M valuation which is about 1/166th the market cap of Stripe.   
  
I imagine $PRTH can easily roll their own docs and support all the plugins like profitwell.com with ease given their large ecosystem of private companies using the platform for payments.   
  
I believe they can contend and compete with private company juggernauts like [moderntreasury](https://moderntreasury.com), [column](https://column.com), [stripe](https://stripe.com), [Gusto](https://gusto.com), [Emburse](https://emburse.com), and many more.   
  
I have used many of these companies' technologies, missed out on angel investing in them, and for most of these companies to justify going public to their VC's, they [need a sustained $5Bn valuation](https://www.linkedin.com/posts/cj-gustafson-13140948_how-much-revenue-do-you-need-to-ipo-in-2025-activity-7297001496288608256-bkj3/) and certain growth metrics to absorb institutional cash and provide liquidity to their investors via IPO.   
  
They remain active in the secondary markets for a long while whereas Priority has unfair distribution mechanisms, licenses, and seemingly limitless revenue levers  
  
**Natural Grocers - $NGVC**   
This is a pure play MAHA stock. NG is a grocery store that looks to be a solid long compounder with a unique selling proposition that I haven't found viable contenders to.   
  
They [stand against chemicals in food in a way that I haven't seen](https://www.naturalgrocers.com/grocery-things-we-wont-carry-and-why) from any other major retailer. Sprouts sells tons of chemicals, I walked into one a few weeks ago in Houston and was disappointed.    

![](https://a.postcard.page/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBaTJmIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--699423eb1ad247586f07eede3fe8a9969cb05de5/image.png)
_It seemsWall Street hasn't been paying attention to this stock in any sizeable way because it's too small of a company and as well they don't have locations near coastal elites in California, New York, and Miami._
  
  
Their SEO growth is nice as well. 
![](https://a.postcard.page/rails/active_storage/blobs/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBaTZmIiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--fe0e8bd39c4e42bba33cb196f8a8844bd4193971/image.png)
  
  
We'll see how all of this shakes out with tariffs and more that are likely to arrive to American shores, but I shall hold and accumulate all of these.