Strong Results Lifted Tutor Perini Corporation (TPC) in Q3

Core Insights - Alger Small Cap Focus Fund's third-quarter 2025 investor letter indicates that U.S. equity markets experienced significant growth, with the S&P 500 Index rising by 8.12% due to improving economic conditions, solid corporate earnings, and expectations for monetary easing [1] - The fund's class A shares underperformed compared to the Russell 2000 Growth Index during the same period [1] Company Overview - Tutor Perini Corporation (NYSE:TPC) is a leading construction company that provides a wide range of services including general contracting, construction management, and design-build services to both private and public sector clients globally [3] - The company reported a stock price of $67.56 per share as of November 27, 2025, with a one-month return of -0.19% and a remarkable 147.93% increase in value over the last 52 weeks [2] Financial Performance - Tutor Perini Corporation's shares positively contributed to the fund's performance in the quarter following strong second-quarter results and an increase in full-year 2025 earnings guidance [3] - Management anticipates a significant increase in earnings for 2026, supported by infrastructure spending and improved project execution, which has enhanced investor confidence [3] Hedge Fund Interest - Tutor Perini Corporation is not among the 30 most popular stocks among hedge funds, with 36 hedge fund portfolios holding the stock at the end of the third quarter, up from 31 in the previous quarter [4] - While the company shows potential as an investment, the analysis suggests that certain AI stocks may offer greater upside potential with less downside risk [4]