Barometer Capital Management Inc. on Caterpillar Inc.
Thesis
Barometer increased its Caterpillar position as industrials assumed market leadership. The company is benefiting from construction and mining demand linked to the resource cycle. Its energy and transportation operations are becoming an additional growth engine as Caterpillar engines and generator sets are increasingly used to power data centers.
“engines and gensets used for data center power have become an important source of growth.”