According to CoinMeta, as reported by Yahoo Finance, PDF Solutions, and Inc (Nasdaq: PDFS), the return in the second quarter of 2026 reached 52%. The investor letter on "Small Cap Strategy" released by Riverwater Partners indicated that the strategy performed below the Russell 2000 Index in the second quarter, although it has still been ahead since the beginning of the year. That quarter was affected by accelerated investment in AI, turmoil in the energy market, and investors' demand for high-beta stocks, which posed challenges to the company's quality-oriented strategy and healthcare focus. Nevertheless, stock picks in the energy, materials, and financial sectors continued to contribute positively, while healthcare and consumer goods were affected due to the avoidance of speculative businesses. Looking ahead, the company maintains a cautiously optimistic attitude towards the opportunities brought by market volatility and continues to focus on AI infrastructure, selected consumer companies, healthcare innovators, and energy companies with values below their intrinsic value.