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Riverwater Micro Opportunities Strategy highlights CRA International
Riverwater’s Q2 2026 investor letter says it added to CRA International late in the quarter as the stock lagged “consulting names” seen as less tied to AI.
Riverwater Partners’ Riverwater Micro Opportunities Strategy outlined its Q2 2026 positioning in an investor letter, noting the strategy underperformed the Russell Microcap Index in the quarter despite posting a positive absolute result, according to Yahoo Finance.
The letter said micro-cap performance was driven by a speculative period, with Industrials described as the best-performing sector and Information Technology as the laggard. It also pointed to an accelerating artificial intelligence buildout alongside a persistent geopolitical supply shock as key forces behind the market move.
In the update, the strategy highlighted CRA International, Inc. (NASDAQ: CRAI) and said it increased its position late in the quarter by adding to two existing holdings. Riverwater attributed its view to expected improvements as CRA International laps a first-quarter compensation reset, and it argued the stock had been unfairly grouped with consulting names that it believes will not benefit from artificial intelligence.
The article also cited CRAI trading information, stating the company closed on July 24, 2026 at $169.77 per share, with a market capitalization of $1.09 billion. It added that CRAI recorded a 17.87% one-month return and a -4.09% loss over the past 52 weeks, and said 25 hedge fund portfolios held the stock at the end of the first quarter, up from 23 previously.
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