ASSET MANAGEMENT | STRATEGIES
Micro Opportunities
Strategy
The Riverwater Micro Opportunities Strategy seeks to provide attractive risk-adjusted returns versus its benchmark, the Russell 2000 Index. The Micro Opportunities Strategy holds 30-45 Micro Cap companies generally below $1.5 billion in market capitalization at initial purchase.
Micro-cap stocks can be more volatile and less liquid than larger companies, trading in some holdings may be limited, and a concentrated portfolio may experience larger swings in value than a more diversified one.
30–45
Typical Holdings
<$1.5B
Market Cap at Purchase
Russell 2000
Benchmark
July 31, 2018
Inception Date
Portfolio & Performance
Strategy Returns
Data current as of June 30, 2026
| 3 Mo | YTD | 1 Yr | 3 Yr | 5 Yr | Since Inception | |
|---|---|---|---|---|---|---|
| Composite (Gross) | 13.03% | 13.17% | 26.69% | 12.34% | 1.87% | 11.33% |
| Composite (Net) | 12.75% | 12.61% | 25.43% | 11.23% | 0.86% | 10.23% |
| Russell Microcap | 21.49% | 22.57% | 40.78% | 18.60% | 6.98% | 9.25% |
| iShares Microcap ETF (IWC) | 25.57% | 27.33% | 58.33% | 23.70% | 6.83% | 9.69% |
Net returns reflect a retail fee of 1%. Past performance is not indicative of future results.
Top 5 Holdings
NPK International Inc.
6.3%
Mama's Creations, Inc.
5.3%
Alico, Inc.
4.1%
IRadimed Corp.
4.1%
Natural Gas Services Group, Inc.
4.0%
Total
23.7% of net assets
Portfolio Characteristics
Strategy Statistics
Data current as of June 30, 2026
| Statistic | Micro | Russell Microcap |
|---|---|---|
| Price to Earnings | 22.5x | 19.1x |
| Avg. Weighted Market Cap | $0.8B | $4.2B |
| Dividend Yield | 0.7% | 1.2% |
| Return on Equity | 7.3% | 1.6% |
| LT Debt to Capital | 20.9% | 37.4% |
| Number of Holdings | 34 | 1,975 |
Portfolio Allocation
Sector Weightings
Data current as of June 30, 2026
| Sector | Micro | Russell Microcap | Active Weight |
|---|---|---|---|
| Consumer Discretionary | 6.84% | 9.50% | -2.66% |
| Consumer Staples | 14.68% | 1.81% | +12.87% |
| Energy | 2.54% | 4.63% | -2.09% |
| Financials | 15.50% | 17.78% | -2.28% |
| Health Care | 13.14% | 19.81% | -6.67% |
| Industrials | 25.37% | 14.83% | +10.54% |
| Information Technology | 6.90% | 15.49% | -8.59% |
| Materials | 5.56% | 4.63% | +0.93% |
| Real Estate | 0.00% | 6.16% | -6.16% |
| Communication Services | 2.24% | 1.98% | +0.26% |
| Utilities | 3.00% | 2.95% | +0.05% |
Risk & Capture
Data current as of June 30, 2026
| Statistic | Micro | Russell Microcap |
|---|---|---|
| Beta* | 0.86 | 1.00 |
| Sharpe Ratio* | 0.37 | 0.28 |
| Upside Capture* | 87.05% | 100.00% |
| Downside Capture* | 84.82% | 100.00% |
*Since inception.
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Micro-cap stocks can be more volatile and less liquid than larger companies, trading in some holdings may be limited, and a concentrated portfolio may experience larger swings in value than a more diversified one.
Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by Advisor), will be profitable or equal any historical performance level(s).