What smart money is saying about Ferguson Enterprises Inc.
7 funds in our archive have pitched Ferguson Enterprises Inc., most recently Weitz Investments Multi Cap Equity Fund in September 2026.
Ferguson plc operates as a major supplier of plumbing, heating, and related industrial products throughout the United States and Canada. The company serves a diverse client base, providing essential solutions for residential, commercial, civil/infrastructure, and industrial projects. Its extensive product range encompasses core plumbing and heating supplies, such as pipes, valves, fittings, water heaters, and a variety of kitchen and bathroom fixtures and appliances. Beyond these essentials, Ferguson also provides heating, ventilation, air conditioning, and refrigeration (HVAC/R) equipment, as well as fire sprinkler systems and associated components. The company's offerings further extend to specialized water management products like water meters, irrigation and drainage systems, geosynthetics, and stormwater control solutions. Industrial customers can access a broad selection of flanges, general industrial maintenance, repair, and operations (MRO) products, high-density polyethylene (HDPE) materials, custom fabrication products, water and wastewater treatment solutions, and comprehensive pipe, valve, and fitting (PVF) systems. To support its clientele, Ferguson delivers a comprehensive array of services, including expert consultation, strategic advice, and project management. They offer convenient pro pick-up and delivery options, alongside a suite of online tools. Additional support features include quotation services, jobsite delivery and logistics management, advanced digital estimation and design capabilities, specialized advanced metering infrastructure (AMI) services, and supply chain management with equipment rental. Ferguson plc also facilitates product sales through its online platforms. The company maintains a significant operational footprint, boasting a network of 1,679 branches and 11 distribution centers. Established in 1887, Ferguson plc is headquartered in Wokingham, United Kingdom.
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Fund signal · last 12 months
12 lettersFunds are split between buying and selling
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q4 2024 and Q3 2026, 16 fund letters reported a position in Ferguson Enterprises Inc., with 5 buys (opened or added) and 4 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 8 | 2 | 3 | 1 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 3 | 2 | 0 | 1 |
| Q3 2025 | 1 | 0 | 1 | 1 |
| Q2 2025 | 3 | 1 | 0 | 1 |
| Q1 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 2 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 16 positions · 10 moves
- September 2026
“We exited positions in Cisco Systems in IT, Stryker in health care, Ferguson, Honeywell International and Honeywell Aerospace in industrials, Space Exploration Technologies, Walt Disney and T-Mobile in communication services and International Paper in materials.”
Ferguson Enterprises Inc. - September 2026
“Ferguson was sold following the completion of its move to a sole US listing and withdrawal from the UK market.”
Ferguson Enterprises Inc. - September 2026
“Higher oil prices also contributed to the sharp rise in interest rates during the quarter, which affected various areas of the market and had a mixed impact on the portfolio’s relative performance. Higher rates contributed to poor returns for utilities, so our underweight to the sector contributed to relative returns in the quarter; however, certain holdings with rate-sensitive housing exposure, including Martin Marietta Materials and Ferguson Enterprises, detracted.”
Ferguson Enterprises Inc. - September 2026
“The Strategy now owns the two largest HVAC distributors in North America: Watsco and Ferguson.”
Ferguson Enterprises Inc. - September 2026
“We redeployed capital from Arthur J. Gallagher & Co. (AJG), Carvana Co. (CVNA), Ferguson Enterprises Inc. (FERG), and Teleflex Incorporated (TFX) into opportunities we found more compelling.”
Ferguson Enterprises Inc. - September 2026
“Ferguson was sold following the completion of its move to a sole US listing and withdrawal from the UK market.”
Ferguson Enterprises Inc. - New positionWeitz Investments Partners III Opportunity FundSeptember 2026
“We also purchased initial positions in two new businesses this quarter, MercadoLibre and Ferguson.”
Ferguson Enterprises Inc. - September 2026
“We also continued to build the Fund’s relatively new positions in HEICO and Ferguson Enterprises at a measured pace.”
Ferguson Enterprises Inc. - HoldsKNA CapitalFebruary 2026
Listed in KNA Capital’s reported holdings.
Ferguson Enterprises Inc. - New positionClearbridge Global Growth StrategyDecember 2025
“In addition to the transactions mentioned above, we added positions in Walmart and PT Unilever in consumer staples, MTU Aero Engines, Ferguson, Eaton and Sandvik in industrials, Ulta Beauty in consumer discretionary, Johnson & Johnson and CG Oncology in health care, Nu Holdings in financials and Amphenol in IT.”
Ferguson Enterprises Inc. - December 2025
“Top Annual Contributors Applied Materials benefited from sustained AI-driven semiconductor demand, with improving customer outlooks supporting the stock. Alphabet transitioned over the year from being perceived as an AI risk to an AI winner, as growth in YouTube and in its search and cloud businesses accelerated and the performance of its large language models gained credibility with investors. Bank of America benefited from accelerating earnings growth and stronger-than-anticipated financial results, along with a positive sentiment shift relating to bank regulation. Ferguson Enterprises, a leading distributor of plumbing and HVAC products, performed strongly during the year against an improving backdrop for commercial sales.”
Ferguson Enterprises Inc. - New positionClearbridge Sustainability Leaders StrategyDecember 2025
“We added two new positions in the quarter: Ferguson and Brookfield Renewable Partners LP.”
Ferguson Enterprises Inc. - September 2025
“ Industrials rose in the quarter. We added to Carrier Global (CARR) on price weakness and trimmed the holding when the price recovered. We also trimmed Ferguson Enterprises (FERG) and GE Aerospace (GE).”
Ferguson Enterprises Inc. - HoldsMSA CapitalJune 2025
“Ferguson – Slow and Steady Wins the Race Not every investment in the Partners Fund is about change. Sometimes, the investment thesis lies in the power of continuity – in accepted realities that have proven themselves over the years. One example is Ferguson. As by far the largest distributor of plumbing and water infrastructure supplies in the USA, the company boasts a structurally stable business model and excellent profitability that has endured for decades. Despite artificial intelligence, one truth will always hold: when there’s a water leak or the air conditioning fails, repairs still need to happen quickly. The U.S. housing stock is, on average, old and in need of renovation, while new construction lags behind actual demand, providing Ferguson’s service business with long-term tailwinds. At the same time, Ferguson leverages its scale to invest more heavily than competitors in digitalisation, supply chain efficiency, and service quality. This is neither spectacular nor exciting, and it’s a bit of a reporting challenge, as the company continues to make steady progress without major upheavals. Since the Partners Fund’s initial investment over three years ago, the company has continued to evolve steadily – with a pleasing performance.”
Ferguson Enterprises Inc. - June 2025
“The top five contributors for the quarter were Ferguson, Berkshire Hathaway, Analog Devices, Texas Instruments, and Brookfield Corporation.”
Ferguson Enterprises Inc. - New positionArtisan US Mid Cap Value StrategyJune 2025
“Ferguson (formerly Wolseley) is the largest US distributor of heating, plumbing and HVAC (heating, ventilation and air conditioning) products. We added Ferguson to the portfolio on April 10 near the depths of the post-Liberation Day market selloff.”
Ferguson Enterprises Inc.
Also mentioned · 2
These funds discuss Ferguson Enterprises Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedBrown Advisory U.S. Value FundJune 2026
“Industrials, Communication Services, and Financials were the leading sources of underperformance for the Strategy during the second quarter. Pentair PLC (PNR) was the biggest detractor within Industrials during the period as management slightly reduced the outlook for its Pool segment during its first quarter earnings report. Given persistently high interest rates and the continued malaise in housing activity, investor patience with residential focused names has worn thin (Ferguson Enterprises Inc (FERG) was a detractor in the period as well).”
Ferguson Enterprises Inc. - June 2026
“Industrials, Communication Services, and Financials were the leading sources of underperformance for the Strategy during the second quarter. Pentair PLC (PNR) was the biggest detractor within Industrials during the period as management slightly reduced the outlook for its Pool segment during its first quarter earnings report. Given persistently high interest rates and the continued malaise in housing activity, investor patience with residential focused names has worn thin (Ferguson Enterprises Inc (FERG) was a detractor in the period as well).”
Ferguson Enterprises Inc.
Fund coverage · 7 theses
- Weitz Investments Multi Cap Equity FundSeptember 2026
Ferguson's balanced residential/non-residential exposure and healthy non-residential demand position it for upside from an eventual residential recovery.
Read the full thesis - Clearbridge Sustainability Leaders StrategyDecember 2025
Ferguson is the largest U.S. plumbing and mechanical distributor with scale, service, and cash flow advantages that support share gains and growth in data center and infrastructure projects.
Read the full thesis - Brasada CapitalSeptember 2025
Ferguson is the largest specialty distributor in North America for plumbing, HVAC, and waterworks, demonstrating resilience in revenue despite housing market weaknesses and showing potential for growth through strategic acquisitions and strong demand in non-residential sectors.
Read the full thesis - Spheria Global Opportunities FundJune 2025
Ferguson Enterprises is the market leader in U.S. wholesale distribution of plumbing, HVAC, and waterworks products, experiencing a positive turning point with increasing price inflation and strong volume growth, making its stock attractively valued at 17x FY26 EBIT.
Read the full thesis - Diamond Hill Large Cap Concentrated FundMarch 2025
Ferguson is a leading US distributor of plumbing and HVAC products, well-positioned to benefit from scale in a fragmented market, with current share prices reflecting potential macroeconomic headwinds.
Read the full thesis - Parnassus Core Equity FundDecember 2024
Ferguson is well-positioned for long-term growth due to its efficient operations, extensive distribution networks, and the advantages of scale in a consolidating industry.
Read the full thesis - Giverny CapitalDecember 2024
Ferguson is the largest plumbing-supplies distributor in the US
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