Here’s Why Pelican Bay Capital Management Initiated a Position in AECOM (ACM)

Core Insights - Pelican Bay Capital Management (PBCM) reported a strong performance for its Concentrated Value Strategy, achieving an 8.5% return in Q4 2025, outperforming the Russell 1000 Value Index which returned 3.8% [1] - The full-year return for the Strategy was 20.6%, compared to 15.9% for the Index, driven by AI-related stocks and commodities exposure [1] Company Overview: AECOM (NYSE:ACM) - AECOM is highlighted as a new addition to PBCM's portfolio, recognized as the world's largest engineering, design, and construction management firm [2][3] - As of February 6, 2026, AECOM's stock closed at $101.03 per share, with a one-month return of 1.60% and a decline of 6.45% over the past twelve months [2] - AECOM has a market capitalization of $13.06 billion [2] Strategic Shift - AECOM has undergone a structural transformation over the past six years, divesting its construction operations and focusing on Design Engineering and Project Management, which reduces risks associated with large-scale project deadlines and budget overruns [3] Hedge Fund Interest - AECOM is not among the 30 most popular stocks among hedge funds, with 37 hedge fund portfolios holding the stock at the end of Q3 2025, down from 41 in the previous quarter [4] - While AECOM is recognized for its potential, PBCM suggests that certain AI stocks may offer greater upside potential and lower downside risk [4]