Here are Tourlite Fund’s Thoughts on FTAI Infrastructure (FIP)

Group 1: Tourlite Capital Management Overview - Tourlite Fund, LP returned -2.0% in Q3 2025, underperforming the S&P 500 and Russell 2000 Indexes, which returned 8.1% and 12.4% respectively [1] - Since inception, the fund has achieved annualized returns of 8.6%, compared to 13.4% for the S&P 500 and 6.3% for the Russell 2000 [1] - The firm noted a rise in speculative, lower-quality stocks, reminiscent of trends observed in late 2021 [1] Group 2: FTAI Infrastructure Inc. Analysis - FTAI Infrastructure Inc. (NASDAQ:FIP) experienced a one-month return of -27.44% and a 52-week loss of 52.48%, closing at $4.02 per share with a market capitalization of $467.504 million on November 19, 2025 [2] - The company announced a transformative acquisition of Wheeling & Lake Erie Railway Company and a refinancing of its holding company debt in August, which initially led to negative market reactions due to high leverage and preferred equity warrants [3] - Despite initial market concerns, the long-term value creation potential of FTAI's infrastructure assets is believed to be substantial, with the CEO and Chairman exercising options to increase their exposure at attractive share price levels [3]