Energy and Infrastructure Stocks Draw Big New Bets

Several recent regulatory filings show active managers increasing exposure to energy, construction materials and advisory businesses, even as broader markets remain volatile. The moves center on companies tied to data center power demand, U.S. oil and gas activity, and North American construction and restructuring cycles.

At the same time, sector data indicate that listed energy names have sharply outperformed the wider S&P 500 early in 2026, reversing sentiment from late 2025 when a global oil glut and weaker crude prices weighed on the group.

Ranger Investment Management disclosed on 13 February 2026 that it bought an additional 197,073 shares of Solaris Energy Infrastructure, an estimated US$9.53 million based on average quarterly pricing. The purchase lifted Solaris to 1.97% of Ranger’s reportable 13F assets, comparable in size to some of the firm’s core mid‑cap holdings.

Solaris shares closed at US$51.47 on 12 February, up 92.6% over the prior year and outperforming the S&P 500 by nearly 80 percentage points. The Houston-based company designs and manufactures specialized equipment and logistics solutions for U.S. oil and gas operators, including all‑electric well completion systems and its Railtronix technology.

For the latest reported quarter, Solaris generated US$167 million of revenue, up 12% sequentially, and US$25 million of net income. Adjusted EBITDA was US$68 million, also up 12% sequentially, with the Power Solutions segment showing 39% sequential revenue growth to US$105 million.

Management has guided to fourth‑quarter adjusted EBITDA of US$65–70 million and first‑quarter 2026 of US$70–75 million. To fund expansion, Solaris issued US$748 million of 0.25% convertible notes and repaid a US$325 million term loan, leaving debt attributable to the company at about US$497 million at quarter end.

The State Street Energy Select Sector SPDR ETF is up 23% year to date as of the second week of February 2026, leading all S&P sectors while the broader index has gained less than 2%. U.S. majors ExxonMobil, Chevron and ConocoPhillips have risen 29.3%, 21.9% and 18.8%, respectively, over the same period.

Commentary from market sources links part of the move to U.S. foreign policy, including the capture and detention of Venezuela’s president in early January and expectations that large oil companies could gain access to Venezuela’s substantial reserves. Increased U.S. hostilities with Iran and the deployment of U.S. naval assets near the Strait of Hormuz have also been cited as potential support for oil prices.

Black Creek Investment Management established a new US$103.78 million position in Eagle Materials during the fourth quarter, buying 502,120 shares. The allocation represents 5.1% of its reportable assets. Eagle Materials, a U.S. supplier of cement, aggregates, gypsum wallboard and recycled paperboard, had a market capitalization of US$7.60 billion and trailing 12‑month revenue of US$2.30 billion as of 12 February.

Eagle Materials shares were priced at US$232.67, down 5.1% over the past year. In its fiscal third quarter, the company posted US$556 million of revenue and diluted EPS of US$3.22. Cement volumes rose 9% year on year and organic aggregates volumes climbed 34%, while gypsum wallboard volumes fell 14%. Net debt stood at about US$1.37 billion with a net leverage ratio of 1.8x, and the company repurchased approximately 648,000 shares for US$142.6 million in the quarter.

Black Creek also increased its stake in FTI Consulting by 402,008 shares, an estimated US$66.27 million, bringing the position to US$183.17 million or 9.1% of its reportable AUM. FTI Consulting provides business advisory services across corporate finance, forensic and litigation, economic consulting, technology and strategic communications.

FTI Consulting reported record third‑quarter 2025 revenue of US$956.2 million, up 3% year over year, and record diluted EPS of US$2.60, up 41%. Adjusted EBITDA margin expanded to 13.7%, and management raised full‑year 2025 EPS guidance to US$7.62–8.12, with adjusted EPS projected up to US$8.70. Despite these results, FTI shares were down 16.1% over the past year at US$160.91 as of 12 February.

In contrast to its additions, Black Creek reduced its position in enterprise software provider NICE by 271,072 shares in the fourth quarter, an estimated US$32.75 million sale. The holding now accounts for 3.28% of its reportable assets, with 584,209 shares remaining.

NICE, which offers cloud‑based AI platforms for customer engagement and financial crime compliance, saw its shares fall 38.5% over the past year to US$105.69 as of 12 February. For the most recent reported quarter, the company delivered US$732 million of revenue, up 6% year over year, with cloud revenue up 13% to US$562.9 million. GAAP operating income rose 14% to US$160.8 million and diluted EPS increased 23% to US$2.29, while AI annual recurring revenue grew 49%. Management raised full‑year non‑GAAP revenue guidance to a midpoint near US$2.94 billion.