Letters by company
Caterpillar INC
9 letters discussing CAT. Everything written about it on this site is on its ticker page.
- Barometer Capital Management 3report Barometer's Pools cut AI-infrastructure exposure, exiting Caterpillar, GE Vernova, Howmet and Lam Research as momentum reversed, while adding Canadian integrated oil producers and rotating toward enterprise software and drug developers benefiting from AI adoption. The Global Macro Pool paired commodity exposure with shorts in long-duration bonds and moved net short North American equities as yields rose. third quarter 2026 AAPL $5.2TCAT $275BCNQ $99B
- QV Investors Q2 2026 Market Letter: Back In Black QV Investors argues that AI infrastructure valuations now assume sustained growth despite unresolved questions around competition, hyperscaler spending and industry economics. The firm added Constellation Software, re-initiated Microsoft and increased several existing holdings as investors sold quality businesses and software perceived as AI losers. Q2 2026 CAT $275BCNSWF $52BMSFT $3.9T
- Rathbones Investment Insights Global markets face renewed inflation pressure from the Iran War, higher bond yields and volatile AI shares, while Rathbones argues that diversification remains essential. The industrials case rests on a manufacturing recovery, AI infrastructure, power-grid investment, semiconductor capacity and more local production, despite tariffs and elevated energy costs. October 2026 SBGSF $158BSIEGY $236B
- Pittenger & Anderson 2026 – 2nd Quarter Letter – Happy Birthday America U.S. capital markets, entrepreneurial risk-taking and property rights are presented as the foundations of America’s economic resilience and innovation. Alphabet’s entry into the Dow and strength from Caterpillar and other industrial names illustrate a rotation away from Magnificent Seven leadership, reinforcing the case for durable businesses with real earnings and demand. 2nd Quarter 2026 GOOGL $3.6T
- Auxier Asset Management Auxier Report: Summer 2026 Auxier Focus Fund favored AI-infrastructure suppliers including Corning, Nvidia and Dell while warning that debt-funded data-center expansion, leverage and concentrated momentum exposure could reverse sharply. The portfolio also emphasized durable franchises such as Mastercard, Visa, Bank of New York Mellon, Philip Morris and Alphabet, and cited operational AI savings at UnitedHealth and other insurers. Second Quarter 2026 AMZN $2.9TBNY $103BDELL $238B
- Auxier Asset Management Auxier Report: Spring 2026 Auxier Focus Fund favored defense contractors, industrial reshoring beneficiaries and energy refiners amid the Strait of Hormuz disruption and rising military budgets. It defended software holdings including Intuit, Adobe and Microsoft, arguing that proprietary data, installed bases and durable management can offset AI-driven margin fears. First Quarter 2026 ADBE $92BBA $138BBNY $103B
- Auxier Asset Management Auxier Report: Winter 2025 Auxier Focus Fund favored undervalued, cash-generative businesses as healthcare, banks, AI infrastructure suppliers and foreign holdings rebounded. The manager defended positions in UnitedHealth, housing, energy and selected software companies, while warning that AI capital spending, leverage and speculative valuations could produce sharp reversals. Fourth Quarter 2025 FISV $34B
- QV Investors Q4 2025 Market Letter QV Investors argues that leadership is rotating away from concentrated U.S. technology toward financials, industrials, commodities and cheaper international equities. The firm identifies railways, Topaz Energy and Dollar General as valuation-supported opportunities, while maintaining a conservative fixed-income allocation amid tight credit spreads. Q4 2025 CNI $76BDG $30BFINGF $8.3B
- Forager Funds Management Monthly Report | October 2025 Forager Australian Shares Fund sold Bravura Solutions after its outlook upgrade drove volatility, judging a material growth uplift necessary to support the valuation. It expects Caterpillar's acquisition of RPMGlobal to close in February and considers the bid fair, while Praemium and Aroa Biosurgery issued encouraging updates and OFX disappointed. October 2025 BVS $1.1B
