MYRG

MYRG

MYRG

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2023 Q2	Sep 30, 2023	Adestella Investment Management	6.9%	12.8%	MYRG, PWR, UFPT	Energy Transition, healthcare, infrastructure, Medical Devices, small caps, value	MYR Group benefits from the Infrastructure Investment and Jobs Act's $73B investment in electric grid and energy infrastructure. The company's backlog has reached record levels as initial disbursements begin flowing. Both T&D and C&I divisions stand to benefit from significant funding for public works projects.	MYRG UFPT	View
2025 Q2	Jul 27, 2025	Thornburg Small/Mid Cap Core Fund	10.4%	-2.3%	AGYS, AVTR, BJ, BMRN, CLH, COHR, CWST, CYTK, FTI, LPLA, MYRG, NTNX, PNFP, RPAY, SXT, TXNM, VRT, WD	Barbell, cyclicals, Domestically Focused, Risk Appetite, small caps, Trade Policy, valuation	Trump administration's Liberation Day tariff package sparked early April selloff, though temporary pause in tariff escalation helped drive market recovery. Tariffs remain an overhang and source of ongoing policy uncertainty, but small and mid-cap companies may be insulated as many are domestically focused and less reliant on global supply chains.		View
2024 Q1	May 7, 2024	Third Avenue Small-Cap Value Fund	8.3%	0.0%	BATRA, ECPG, FIX, FRPH, HBB, IVT, KALU, LXU, MYRG, PRA, SEB, SPHR, TDW, UMBF, WASH	Balance Sheet, Capital Allocation, Concentration, cyclicals, small caps, special situations, value	The Russell 2000 Index peaked in November 2021 and remains more than 13% below record highs. Over the past three years, the Russell 2000 has generated negligible returns while the S&P 500 has compounded at 11.6%. The manager believes the continued outperformance by large caps is unsustainable and that intrinsic value within the small-cap market will be realized.		View
2024 Q1	Apr 15, 2024	Artisan Partners Small Cap Fund	9.0%	14.0%	ARGX, ASND, BL, CCCS, ELF, ETSY, FIVE, FND, FRPT, HALO, IPGP, LSCC, MPWR, MYRG, PCOR, SAIA, SHLS, SMAR, TREX, VMI, WING	AI, Biotechnology, Energy Transition, growth, healthcare, semiconductors, small cap, software	Healthcare biotechnology holdings faced R&D setbacks despite solid commercial progress. Argenx's Vyvgart failed two additional indications in Q4, Halozyme experienced underperformance related to Argenx setbacks, and Ascendis faced FDA manufacturing questions for TransCon PTH. The team maintains conviction in de-risked biotech assets with proven drugs and diversified pipelines.		View
2025 Q1	Mar 31, 2025	Artisan Partners Small Cap Fund	-10.1%	-10.1%	ALAB, ARIS, ASCB, BFAM, BROS, FRSH, FTAI, GWRE, HALO, INTA, IRTC, KTOS, MOD, MTSI, MYRG, PEN, SG, SN, TWST, VCYT	AI, Biotechnology, Cloud, defense, growth, healthcare, small caps, Trade Policy	The introduction of China's DeepSeek AI model challenged market assumptions around AI infrastructure spending durability. This development raised questions about US leadership in AI and long-term returns on AI investments, particularly impacting data center capacity enablers in the portfolio.		View
2024 Q4	Dec 31, 2024	Third Avenue Small-Cap Value Fund	-4.4%	3.3%	AMBC, BATRA, COLL, CTAS, ECPG, FPH, FRPH, ICFI, ITIC, IVT, KALU, LXU, MYRG, OCFC, PB, PBF, PRAA, SEB, SSKN, SUPN, TPH, UMBF, UNF	Buybacks, private equity, Regional Banks, Resource Conversion, small caps, value	The portfolio trades at a historically large discount to estimated net asset value, with Fund Management believing considerable potential exists for attractive absolute returns. The fund focuses on underpriced assets trading below intrinsic value.	FPH AMBC OCFC	View
2023 Q3	Oct 25, 2023	Third Avenue Small-Cap Value Fund	8.3%	0.0%	BATRK, ECPG, FRPH, HBB, ICFI, IVT, KALU, LXU, MYRG, PRAA, SEB, TDW, UMBF, WASH	energy, Fertilizers, financials, Onshoring, real estate, small cap, value	The fund identifies near-shoring as a developing theme with attractive investment opportunities. LSB Industries benefits from U.S. near-shoring through domestic fertilizer production, reducing transportation costs and environmental impact. The manager has dedicated analytical resources to capitalize on other near-shoring opportunities.	BATRK LXU	View
2025 Q3	Oct 21, 2025	Third Avenue Small-Cap Value Fund	7.2%	-	ABAC, BATRK, BCC, BXC, COLL, CTAS, CTLP, ECPG, FRPH, HBB, HFWA, ITIC, KALU, LXU, MYRG, PB, PRA, ROG, SD, SUPN, TDW, UMBF, UNF, VSTO	Building Materials, financials, healthcare, industrials, Pharmaceuticals, small caps, technology, value	The fund focuses on buying companies trading at discounts to conservative estimates of net asset value, with shares not reflective of potential for business improvement or value creation. The investment approach emphasizes businesses well-financed and trading below intrinsic value with identifiable value creation levers.	ROG BOISE AMBC AMBC	View
2025 Q4	Jan 22, 2026	Third Avenue Small-Cap Value Fund	4.6%	14.0%	ALG, BATRK, BXC, COLL, CTAS, ECPG, FPH, ICFI, KALU, LXU, MYRG, NYCB, OCSL, PB, PRA, SEB, SUPN, UMBF, UNF	Aluminum, Governance, Owner-Operator, Pharmaceuticals, Regional Banks, small caps, value	The Fund pursues a decidedly value-oriented investment approach, seeking to underpay for ownership of a business. The managers focus on finding rare nexuses of good people, good assets and good prices. The Fund initiated a new position in Flagstar Bank at a large discount to tangible book value. Flagstar has been undergoing transformation and has a credible path to achieve profitability more typical of a U.S. regional bank. Kaiser Aluminum led fourth quarter performance following strong quarterly financial results and progress on its multi-year investment to upgrade and expand production capacity in aerospace and packaging. Collegium Pharmaceutical generated strong performance contribution after producing record quarterly revenue and disclosing improved operating income guidance and a new share repurchase authorization.	FLG UNF ECPG COLL KALU	View
2024 Q3	Sep 30, 2024	TimesSquare Capital Management U.S. Small Cap Growth Strategy	6.2%	0.0%	ADUS, BJ, BOOT, CERT, CWAN, EME, EWCZ, FORM, FROG, INSM, LOAR, MODG, MTDR, MYRG, OS, PCVX, SVV, WH, WHD, WMT	Biotechnology, consumer, energy, growth, healthcare, industrials, small cap, technology	AI remains a dominant trend with many companies seeing greater risks of underspending and being left behind rivals. Companies are setting their IT budgets for 2025 with AI considerations. The technology continues to drive corporate spending decisions across sectors.		View
2024 Q3	Sep 30, 2024	Third Avenue Small-Cap Value Fund	8.3%	0.0%	BATRA, ECPG, FRPH, HBB, ICFI, ITIC, KALU, LXU, MYRG, PB, PBF, PRA, SD, SSTK, TDW, TPH, UMBF, WASH	Cheapness, energy, Refiners, Regional Banks, small cap, value	Fund focuses on buying cheap companies at discounts to replacement value and cash flows, with emphasis on balance sheet-oriented approaches. Current holdings available at attractive valuations relative to fundamentals.	PBF SD	View
2024 Q3	Sep 30, 2024	THB Asset Management	10.3%	10.1%	ALNT, BSIG, BWMN, CEG, CLMB, HONE, HWKN, HZO, IMMR, LUMN, LUNA, MSFT, MYRG, PLUS, POOL, RBBN, TRNS, UFPT, VZ, XPRO	Data centers, Energy Transition, Federal Reserve, interest rates, Micro Cap, productivity, small caps, Utilities	Green energy transition initiatives are taking place just as demand for electricity is increasing from EVs and data centers. Utilities are raising rates to fund grid upgrades for offshore wind and neighborhood electrification investments. Solutions to the challenges facing the electrical grid and power generation needs are being developed in real time, which provides investment opportunities within small and mid-size investment universes.	RBBN	View
2024 Q2	Jul 19, 2024	Third Avenue Small-Cap Value Fund	8.3%	0.0%	ALG, AMZN, BATRA, COLL, CSEC, ECPG, FRPH, HBB, ITIC, KALU, MYRG, NVDA, PRA, SEB, SUPN, TDW, UMBF, UNF, WASH	large cap, Outperformance, Relative Valuation, small caps, value	Small-cap stocks are trading at only 75% of large-cap valuations, an extremely unusual level of cheapness last seen during the tech bubble. The managers believe this represents a compelling opportunity for significant outperformance when the cycle turns.		View
2025 Q1	Mar 31, 2025	Third Avenue Small-Cap Value Fund	-4.6%	-4.6%	ABAC, BATRA, BXC, COLL, ECPG, FPH, FRPH, HBB, ICFI, ITIC, MYRG, OCFC, PB, PRAA, SBSI, SEB, SUPN, TDW, UMBF	financials, M&A, small cap, Trade Policy, value, volatility	Fund focuses on securities available at valuations significantly below private market value with low probability of permanent capital impairment. Manager emphasizes buying businesses at significant discounts to estimated values with conservatism baked in.	BXC TIDE	View
2023 Q4	Jan 28, 2024	Third Avenue Small-Cap Value Fund	8.3%	0.0%	ALG, BATRA, COLL, ECPG, FIX, FRPH, HBB, ICFI, ITRN, KALU, LXU, MYRG, PB, PRA, SEB, SPHR, TDW, TPH, UMBF	Fed policy, interest rates, real estate, Regional Banks, small caps, value	Small-cap equities rallied late in Q4 from anticipated Fed pivot toward lower rates. Russell 2000 outperformed Russell 1000 by over 7% in December. Despite recent rally, small-caps still lagged for the year and valuations remain discounted versus large-caps.	COLL	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	Adestella Investment Management	MYR Group	Capital Goods	Electrical Components & Equipment	Bull	NASDAQ	clean energy, data centers, Electrical Construction, Government Spending, Grid Infrastructure, infrastructure investment, secular growth, solar projects, Transmission Distribution, utilities	View Pitch

BSD Shareholders of MYRG

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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