Hennessy's Josh Wein identifies infrastructure and industrial mid-caps as strategic opportunities, favoring them over pricey mega-cap tech names amid a shifting market landscape.
Portfolio manager highlights Tutor Perini as an attractive infrastructure name with a long runway and large backlog.
Centauri Holdings is favored for its convergence of infrastructure and energy transition, with a long runway despite recent volatility.
Mentioned as an example of expensive mega-cap tech that investors are paying a premium for.
Mentioned as an example of expensive mega-cap tech that investors are paying a premium for.
Josh Wein, portfolio manager at Hennessy Cornerstone Growth Fund, argues that investors should look beyond expensive mega-cap tech stocks. He highlights infrastructure and industrial names as key opportunities, noting that mid-cap stocks currently trade at more attractive valuations than the broader S&P 500.
The fund targets companies benefiting from long-term themes like onshoring, manufacturing expansion, and the buildout of AI-related data centers.
The manager suggests that mega-cap tech stocks are trading at a premium due to their liquidity, while the rest of the market offers more palatable valuations.