Riverwater Partners
Riverwater small cap
US Small-cap
Dec 2024 → Jun 2026
Our archive holds 6 letters from this strategy, behind 19 investment theses and positions in 12 companies. Every quote below is copied verbatim from the letter it came from.
6 letters in 3 years — follow all of Riverwater Partners for every strategy.
Its investment theses
- PDF Solutions, Inc.Jun 2026PDF Solutions, Inc. enables semiconductor manufacturing efficiency with recurring software revenue, founder-led management, and attractive growth and valuation.
- NetScout Systems, Inc.Jun 2026NetScout Systems, Inc. provides service assurance and cybersecurity software with deep packet inspection technology and an attractive valuation.
- Stevanato Group S.p.A.Jun 2026Stevanato Group S.p.A. is a leading drug containment and delivery provider, with growth supported by injectables demand and an attractive valuation.
- Werner Enterprises, Inc.Jun 2026Werner Enterprises, Inc. should benefit from industry consolidation, pricing power, and share gains after a liability ruling.
- Lifeway Foods, Inc.Jun 2026Lifeway Foods, Inc. is the dominant U.S. kefir producer, supported by durable gut-health demand, high category share, and strong margins.
- Kaiser Aluminum CorporationJun 2026Kaiser Aluminum Corporation benefits from offline global capacity, supply shock-driven pricing support, and tariffs.
- Cushman & Wakefield plcMar 2026Cushman & Wakefield is a global CRE services firm with a durable, recurring-revenue moat and attractive valuation where AI disintermediation fears appear overstated.
- CNX Resources CorporationDec 2025CNX Resources is a natural gas producer executing well with strong free cash flow and buybacks amid supportive structural demand.
- Kodiak Gas Services, Inc.Dec 2025Kodiak Gas Services provides contract compression with long-term contracts and favorable volume tailwinds from LNG, data centers, and electrification.
- NPK International Inc.Dec 2025NPK International provides composite matting for utilities and energy with advantages over timber, poised for margin and FCF improvement amid infrastructure buildout.