Jackson Peak Capital on Comfort Systems
Thesis
FIX is one of our preferred ways to invest in the labor side of the AI capital expenditure boom, targeting the mechanical, electrical, and HVAC contractors essential for building out data centers. The investment thesis has been validated by the company's strong results, increased guidance, and the clear and ongoing demand from the AI infrastructure buildout.
“Our largest contributor in Q1 was Comfort Systems (FIX) as a fundamental long. FIX has been one of our preferred expressions of the labor side of the AI capex trade - the mechanical, electrical, and HVAC contractors building out the data centers. The thesis continued to play out during the quarter as the company reported strong results, raised guidance, and benefitted from continued visibility into the AI infrastructure buildout.”