What smart money is saying about Sterling Infrastructure, Inc.
5 funds in our archive have pitched Sterling Infrastructure, Inc., most recently Homestead Advisers Small-Company Stock Fund in September 2026.
Sterling Infrastructure, Inc. operates across three distinct business segments: transportation, e-infrastructure, and building solutions. The company's operations span a significant portion of the United States, including the Southern, Northeastern, and Mid-Atlantic regions, as well as the Rocky Mountain states, California, and Hawaii. Within its transportation division, Sterling specializes in developing and rehabilitating critical infrastructure. This includes projects such as highways, roads, bridges, airports, ports, and light rail systems, alongside essential water, wastewater, and storm drainage solutions. Their clients in this sector range from state departments of transportation and regional transit authorities to airport, port, and water authorities, as well as railway companies. Furthermore, Sterling delivers specialized site infrastructure development services. These projects cater to high-profile "blue-chip" clients operating within the e-commerce, data center, distribution and warehousing, and energy industries. The building solutions segment focuses on concrete work for both residential and commercial applications. This encompasses foundations for single-family and multi-family residences, as well as parking structures, elevated slabs, and other custom concrete projects. Their client base here includes national, regional, and custom home builders, as well as developers and general contractors in the commercial sector. Originally established in 1955, the company operated as Sterling Construction Company, Inc. until its renaming to Sterling Infrastructure, Inc. in June 2022. Its corporate headquarters are located in The Woodlands, Texas.
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Fund signal · last 12 months
10 lettersMore funds are buying than 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 Q1 2025 and Q3 2026, 12 fund letters reported a position in Sterling Infrastructure, Inc., with 5 buys (opened or added).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 6 | 3 | 0 | 3 |
| Q2 2026 | 4 | 2 | 0 | 1 |
| Q3 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 0 | 0 | 0 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 12 positions · 7 moves
- September 2026
“3. Sterling Infrastructure, Inc. (STRL) STRL prepares construction sites and installs electrical systems for data centers and other large industrial projects. We initiated a position because its scale and experience help it win complex, mission-critical projects.”
Sterling Infrastructure, Inc. - September 2026
Listed in JAG Capital Management Small Mid Cap Growth Strategy’s reported holdings.
Sterling Infrastructure, Inc. - September 2026
“3. Sterling Infrastructure, Inc. (STRL) STRL prepares construction sites and installs electrical systems for data centers and other large industrial projects. We initiated a position because its scale and experience help it win complex, mission-critical projects.”
Sterling Infrastructure, Inc. - September 2026
“The largest individual detractors were: Sterling Infrastructure, Inc., a specialty engineering and construction company whose site development and electrical services support data centers and other mission- critical facilities, was the fund’s largest detractor. The shares fell substantially early in the quarter as investors retreated from AI and infrastructure stocks, and they declined further after second-quarter results. Despite record revenue, a much larger backlog, and a raised full- year outlook, the shares fell as margins narrowed in the largest segment, diluted by the faster growth of a newly acquired, lower-margin electrical business. Sentiment toward the AI buildout remained volatile through September, including a steep sell-off after prominent industry leaders called for a slower pace of AI development. We believe Sterling’s scale, execution capabilities, and multiyear backlog visibility remain intact, and we are monitoring the company’s margin progress and efforts to diversify beyond its largest hyperscale customers.”
Sterling Infrastructure, Inc. - New positionLiontrust Global Innovation FundSeptember 2026
“Sterling Infrastructure (-31%), the US contractor that prepares and powers data centre sites, was initiated in July and fell after purchase, even as second quarter results beat expectations: revenue rose 90% to $1.17 billion, 17.5% ahead of consensus; its e-infrastructure segment, which builds data centre and industrial sites, grew 192% and is now 78% of the group; backlog rose 116% to $4.33 billion; and guidance was raised for the second time this year.”
Sterling Infrastructure, Inc. - New positionLiontrust GF Global Innovation FundSeptember 2026
“Sterling Infrastructure (-31%), the US contractor that prepares and powers data centre sites, was initiated in July and fell after purchase”
Sterling Infrastructure, Inc. - New positionClearBridge Investments SMID Cap Growth StrategyJune 2026
“In addition to the transactions mentioned above, we initiated positions in Arxis, Sterling Infrastructure, and Woodward in the industrials sector, SiTime, Cipher Digital, D-Wave Quantum and DigitalOcean in the IT sector, Liftoff Mobile in the communication services sector and Axsome Therapeutics, Vaxcyte and Kymera Therapeutics in the health care sector.”
Sterling Infrastructure, Inc. - HoldsBridge City Capital Small Cap Growth CompositeJune 2026
“TOP CONTRIBUTORS IN Q2 2026 TOP DETRACTORS IN Q2 2026 Contribution2 Average Weight1 2.5%2.7%Sterling Infrastructure, Inc 1.8%1.7%Credo Technology Group Holdings, Ltd.”
Sterling Infrastructure, Inc. - June 2026
“The top contributors to performance for the quarter were Comfort Systems and Sterling Infrastructure in Infrastructure Area of Interest (AoI); Quanta Services (Power Generation); and Coherent (Connectivity).”
Sterling Infrastructure, Inc. - June 2026
“In terms of individual holdings, the stocks that made the largest contributions to relative performance were: Sterling Infrastructure, Inc. is a construction company that continues to benefit from growth in data centers.”
Sterling Infrastructure, Inc. - September 2025
“Top Contributors Top Contributors to Performance for the Quarter Ended September 30, 2025 Percent Impact Sterling Infrastructure, Inc. 1.80% Xometry, Inc. 1.44% Bloom Energy Corp.”
Sterling Infrastructure, Inc. - June 2025
“Contributors • Sterling Infrastructure, Kratos Defense & Security Solutions and Construction Partners were the top individual contributors to performance. • Sterling Infrastructure is an infrastructure services business that specializes in transportation, e-infrastructure, and building solutions in the United States. The stock recovered after a sharp selloff in the first quarter on the news of DeepSeek’s AI offering. The company had a solid Q1 report, and its data center business is booming. Backlog growth inflected higher, and management spoke confidently about its visibility for the next few years. • Kratos Defense & Security Solutions is a leader in both hardware and software solutions supporting space exploration and monitoring and has a high growth target drone business with the US government as its main customer. This company also has a potentially even larger opportunity with its tactical drone offering, which we believe should continue to draw attention from the US military. • Construction Partners provides road building and paving services in the south/southeast region of the country. The company has been able to grow revenue in the mid-teens range through a combination of organic growth and M&A. This name outperformed during the quarter with a large M&A deal in Texas as well as other deals in existing markets that have accelerated revenue growth, all of which have led to higher revisions. Detractors • Grid Dynamics, Clearwater Analytics Holdings and Merit Medical Systems were the largest individual detractors from performance. • Grid Dynamics struggled during the period mainly due to the guidance that the company gave in February, which was viewed by analysts as being overly aggressive. The company did not raise guidance for the fiscal year in May, breaking a three-quarter trend of ‘beat and raise’ reports. These dynamics along with broader pressures in the IT Service industry with companies cutting guidance have added to fears of potential earnings cut, which has exacerbated selling pressures on the stock. • Clearwater Analytics Holdings provides cloud native software in investment lifecycle management for the insurance and asset management industry. Earlier this year, the company made three acquisitions and is currently in the midst of integrating these acquisitions. The uncertainty around interest rates post-election also weighed on the stock. • Merit Medical Systems is a medical device manufacturer that is focused on interventional cardiology and radiology. Tariff and trade policy concerns during the quarter negatively impacted the stock given that approximately 40% of the company’s revenues are ex-US and the fact that the company has been shifting more manufacturing to lower cost jurisdictions outside the US. Outlook • As we write this, volatility has decreased by many measures. The VIX index, which measures stock market volatility, has retreated to below average levels, as has the MOVE index, which measures bond market volatility. While the US Economic Policy Uncertainty Index has come in from the very high levels of April, it is still quite high when compared to TOP TEN EQUITY HOLDINGS (%) Sterling Infrastructure, Inc. 2.1 Kratos Defense & Security Solutions, Inc.”
Sterling Infrastructure, Inc.
Fund coverage · 5 theses
- Homestead Advisers Small-Company Stock FundSeptember 2026
Sterling Infrastructure is a specialty engineering and construction company whose scale, execution capabilities, and multiyear backlog visibility support its role in data center and mission-critical facility buildouts.
Read the full thesis - Liontrust Global Innovation FundSeptember 2026
Sterling Infrastructure prepares and powers data centre sites, with its e-infrastructure segment growing 192% and backlog up 116%, constrained by labour rather than demand.
Read the full thesis Sterling Infrastructure, Inc. provides data center construction and electrical services and benefits from scale, backlog, and repeat work.
Read the full thesisSterling Infrastructure benefits from data center growth and scale could support stronger margins over time.
Read the full thesis- Tamim Global High ConvictionMarch 2025
Sterling Infrastructure is poised for growth due to the U.S. re-industrialization, strong demand for AI-driven construction, and its strategic presence in key markets.
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