What smart money is saying about MYR Group
1 fund in our archive has pitched MYR Group, most recently Tributary Capital Management Small/Mid Cap Strategy in September 2026.
Operating across the United States and Canada, MYR Group Inc. is a leading provider of electrical construction services, delivered through its two core divisions: Transmission and Distribution, and Commercial and Industrial. Its Transmission and Distribution division specializes in comprehensive services for electrical transmission and distribution grids, as well as substation infrastructure. These offerings span design, engineering, procurement, construction, enhancements, upkeep, and repairs, primarily targeting clients within the electric utility sector. Key activities include building and maintaining high-voltage transmission lines, substations, and both underground and overhead lower-voltage distribution systems. The segment also handles renewable power installations, some gas construction projects, and critical emergency restoration following natural disasters like hurricanes or ice storms. As a prime contractor, MYR serves a diverse client base, including investor-owned utilities, cooperatives, private developers, government-funded entities, independent power producers, transmission companies, industrial facility owners, and other contractors. The Commercial and Industrial division delivers a variety of services, encompassing the design, installation, maintenance, and repair of electrical wiring for commercial and industrial settings. This also extends to installing traffic control networks and lighting systems for bridges, roadways, and tunnels. Their expertise is applied across a wide array of venues, such as airports, hospitals, data centers, hotels, stadiums, convention centers, renewable energy sites, manufacturing and processing plants, wastewater treatment facilities, mining operations, and transportation management systems. Clients for this segment include general contractors, commercial and industrial property owners, government agencies, and developers. Established in 1891, MYR Group Inc. maintains its corporate headquarters in Henderson, Colorado.
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Fund signal · last 12 months
11 lettersToo few moves on MYR Group yet for a clear signal
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 2025 and Q3 2026, 11 fund letters reported a position in MYR Group, with 2 buys (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 7 | 2 | 0 | 1 |
| Q2 2026 | 3 | 0 | 1 | 0 |
| Q4 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 11 positions · 4 moves
- September 2026
“Infrastructure engineering company MYR Group, North American aluminum products manufacturer Kaiser Aluminum, and regional bank Flagstar Bank also detracted from performance during the quarter.”
MYR Group - September 2026
“MYR Group (U.S.) Return: -42% · Avg. Weight: 2% · Total Effect: -83 bps MYR Group is a leading specialty contractor serving the electric utility infrastructure, commercial, and industrial construction markets. Despite recent results exceeding expectations and the company posting record revenue and backlog, shares fell over the course of the quarter on fears of growing political opposition to data center construction across the U.S.. We added to the position during the quarter.”
MYR Group - September 2026
“MYR Group (U.S.) Return: -42% · Avg. Weight: 1% · Total Effect: -45 bps MYR Group is a leading specialty contractor serving the electric utility infrastructure, commercial, and industrial construction markets. Despite recent results exceeding expectations and the company posting record revenue and backlog, shares fell over the course of the quarter on fears of growing political opposition to data center construction across the U.S. We added to the position during the quarter.”
MYR Group - September 2026
“First Business Financial Services is a business-only bank with no retail branches, $4.3 billion in assets and operates primarily across Wisconsin and Kansas City. Its exclusive commercial focus has driven consistent core deposit growth through competitive pricing and strong treasury management, while attracting private wealth relationships from its commercial client base. An interest rate-neutral balance sheet limits interest rate risk, and a focus on top- quartile borrowers has delivered better-than-peer credit performance. MYR Group is a specialty electrical contractor operating across the U.S. and Canada, serving utilities, data centers, renewable energy and transportation projects.”
MYR Group - HoldsNext century growth investor Growth StrategiesSeptember 2026
“ Top 3 detractors to absolute performance: ALHC, CRS, UCTT Industrials underperformance driven by aerospace & defense, AI infrastructure, and transportation logistics Consumer underperformance driven by for-profit education and restaurant holdings Basic materials underperformance driven by aerospace and rare/critical minerals holdings Health care underperformance driven by stock specific weakness in one managed care holding 3Q Portfolio Activity Portfolio Positioning Sector Relative Weight Industry Exposure Basic Materials Overweight Aerospace, general industrial, rare/critical minerals Consumer Underweight Restaurants, consumer goods Financials Underweight Insurance (carriers and broker) Small Cap 3Q26 2 | P a g e Health Care Underweight Medical device, diagnostics, pharma, health care services, health care technology Industrials Overweight Aerospace & defense, transportation logistics, AI infrastructure, infrastructure construction, payment services Technology Overweight Semiconductors, semicap equipment, AI infrastructure, marketplace networks, software, IT services We added 15 new positions in Q3: o four in health care: HNGE, RGEN, URGN, WAY o four in technology: WK, BAND, U, BLZE o three in financials: RYAN, PLMR, KNSL o two in industrials: FEIM, ANDG o one in energy: FTK o one in consumer: WING We sold 10 positions to zero in Q3: o four in industrials: MOD, AAON, EQPT, PL o three in consumer: OLLI, LINC, UTI o one in health care: ALHC o one in technology: UCTT o one in telecommunications: AAOI Industry Classification Benchmark (ICB)* As of 09/30/2026 *Source: Factset Industry Classification Benchmark (ICB), a product of FTSE International Limited that is used under license (763) 591-4490 Fax (763) 591-4499 ncgrowth.com Two Carlson Parkway N, Suite 125 Plymouth, MN 55447 NCG MICRO CAP 3Q26 REVIEW Annualized 3Q26 YTD 1 year 3 year 5 year 10 year Since Inception^ Micro Cap Growth (%) (Net of fees) (13.68) 28.34 36.54 24.71 6.59 22.66 17.66 Russell Microcap® Growth Index (%) (12.14) 8.50 10.82 23.06 2.59 8.14 8.87 ^Inception 1/1/2003 3Q Attribution* What worked What didn’t Sector outperformance: technology, energy Top 3 contributors to absolute performance: HTFL, BLFS, ADPT Technology performance driven by software and marketplace networks holdings and offset by stock specific weakness chip design solutions and industrial laser components Energy performance driven by one holding in frac chemistry and natural gas measurement Sector underperformance: industrials, consumer, health care Top 3 detractors to absolute performance: ALHC, ORN, MYRG”
MYR Group - New positionTowle Small-Cap Value StrategySeptember 2026
“VALT's First Quarter: Grading Our Q3 2025 Decisions* Bought Sold Ticker Stock Return‡ Decision Alpha† Ticker Stock Return Decision Alpha† HOUS** 111% +88% SNBR -100% +131% UNFI 72% +42% GT -37% +61% SNX 69% +33% WOOF -24% +58% BWA 50% +26% AAP -11% +47% MYRG 16% +1% ASTL -3% +39% SANM 15% -3%”
MYR Group - September 2026
“TOP 10 HOLDINGS (%)* Silicon Motion Technology Corp. 3.02 Ligand Pharmaceuticals, Inc. 3.02 MYR Group, Inc. 2.84 WisdomTree, Inc.”
MYR Group - June 2026
“Elsewhere, MYR Group, an electrical-construction services provider levered to grid and data-center power buildouts, rose 77%.”
MYR Group - June 2026
“FUND MANAGEMENT TOP 10 HOLDINGS (%)* Silicon Laboratories, Inc. 3.34 WisdomTree, Inc. 3.15 Ligand Pharmaceuticals, Inc. 3.10 JBT Marel Corp 2.48 MYR Group, Inc. 2.32 ESCO Technologies, Inc.”
MYR Group - June 2026
“During the second quarter, Fund performance benefited from diversified sources across a range of sectors and companies, such as infrastructure engineering company MYR Group, consumer debt collection business Encore Capital, regional bank UMB Financial, North American aluminum products manufacturer Kaiser Aluminum, and insurance business Octave Specialty Group.”
MYR Group - December 2025
“Across decades of investment experience, the Fund’s management team has partnered with many company management teams that have done admirable jobs building shareholder wealth as operators, investors and financiers. The management teams of a number of current Fund holdings have carried themselves admirably as well. In previous letters we have highlighted the success of MYR Group’s management team in terms of business building and long-term shareholder wealth creation.”
MYR Group
Fund coverage · 1 thesis
- Tributary Capital Management Small/Mid Cap StrategySeptember 2026
MYR Group is a specialty electrical contractor with a large fleet, strong balance sheet, and multi-year growth tailwinds from electrification and data centers.
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