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Riverwater Partners, an investment management company, released its “Small Cap Core Strategy” Q3 2024 investor letter. A copy of the letter can be downloaded here. The strategy outperformed its benchmark, the Russell 2000, both in the third quarter and year-to-date, driven by disciplined stock selection across a diverse range of sectors. Energy and IT were the top-performing sectors while Consumer Staples and Healthcare holdings detracted. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Riverwater Partners Small Cap Core Strategy highlighted stocks like Merit Medical Systems, Inc. (NASDAQ:MMSI) in the third quarter 2024 investor letter. Merit Medical Systems, Inc. (NASDAQ:MMSI) designs, develops, manufactures, and markets single-use medical products. The one-month return of Merit Medical Systems, Inc. (NASDAQ:MMSI) was -7.95%, and its shares gained 27.04% of their value over the last 52 weeks. On December 30, 2024, Merit Medical Systems, Inc. (NASDAQ:MMSI) stock closed at $96.50 per share with a market capitalization of $5.624 billion.
Riverwater Partners Small Cap Core Strategy stated the following regarding Merit Medical Systems, Inc. (NASDAQ:MMSI) in its Q3 2024 investor letter:
"Our outlook for Q4 2024 and 2025 is optimistic in light of what we consider to be opportunities presented by additions to the portfolio during the third quarter. We purchased three new names in Q3 2024: Merit Medical Systems, Inc. (NASDAQ:MMSI), Atmus Filtration Technologies, Inc. (ATMU) and Uranium Energy Corp. (UEC).
A surgeon using endoscopy products to perform a medical procedure.