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Soumya Eswaran
Wed, April 22, 2026 astatine 6:29 AM CDT 3 min read
Riverwater Partners, an concern absorption company, released its “Sustainable Value Strategy” Q1 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. In Q1 2026, the Riverwater Sustainable Value Strategy underperformed the Russell 2500 Value Index. The underperformance was driven wholly by banal selection, portion assemblage allocation contributed positively. The 4th demonstrated a beardown small-cap marketplace with an 11.1% instrumentality until February, but aboriginal the strategy lagged by implicit 5%, pursuing geopolitical events. Despite this, comparative show improved, indicating beardown downside protection. Looking ahead, the steadfast anticipates a displacement backmost to fundamentals expected to favour high-quality small-cap stocks implicit lower-quality peers and large-cap equities. In addition, delight cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2026.
In its first-quarter 2026 capitalist letter, Riverwater Sustainable Value Strategy highlighted stocks similar Century Aluminum Company (NASDAQ:CENX). Headquartered successful Chicago, Illinois, Century Aluminum Company (NASDAQ:CENX) is simply a planetary shaper of superior aluminum and alumina. On April 21, 2026, Century Aluminum Company (NASDAQ:CENX) closed astatine $61.40 per share. One-month instrumentality of Century Aluminum Company (NASDAQ:CENX) was 22.34%, and its shares gained 263.96% implicit the past 52 weeks. Century Aluminum Company (NASDAQ:CENX) has a marketplace capitalization of $6.08 billion.
Riverwater Sustainable Value Strategy stated the pursuing regarding Century Aluminum Company (NASDAQ:CENX) successful its Q1 2026 capitalist letter:
"Century Aluminum Company (NASDAQ:CENX) is the largest home shaper of superior aluminum successful the United States, operating smelters successful Kentucky, South Carolina, and Iceland with combined yearly accumulation capableness of astir 770,000 tonnes. Glencore plc is the largest shareholder astatine astir 30% beneficial ownership¹ and besides the company's largest lawsuit (54% of 2025 sales).
The U.S. went from producing 4.65 cardinal tonnes of superior aluminum astatine 33 smelters successful 1980 to astir 670,000 tonnes astatine conscionable 4 operating smelters contiguous — a illness from 33% of planetary output to nether 1%.³ The state present relies connected imports for astir 60% of its aluminum consumption.⁴ Section 232 tariffs (currently 50% connected imports) make a meaningful home terms premium for U.S. producers. LME aluminum prices person risen supra $3,300/ton⁵ connected tightening planetary supply, with Chinese accumulation capped astatine 45 cardinal tonnes and Gulf smelter capableness astatine hazard from geopolitical disruption successful the Strait of Hormuz — a dynamic we person termed the "Fog of Excursion" thesis..." (Click present to work the afloat text)
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