Sustainable Growth Advisers (SGA), an investment management company, released its first-quarter 2026 investor letter for its “Global Growth Strategy.” A copy of the letter can be downloaded here. The SGA Global Growth Portfolio returned -13.6% (Gross) and -13.8% (Net) compared to the MSCI ACWI return of -3.2% and the MSCI ACWI Growth return of -7.7%. AI disruption narratives significantly affected markets in the first two months of the quarter, leading to declines in software, information services, payments, and insurance brokers. In March, geopolitical tensions in the Middle East caused a spike in oil prices, contributing to market volatility and prompting investors to adopt a more cautious stance. The firm believes prioritizing high-quality businesses with strong balance sheets, durable cash flows, and diversified end markets provides resilience against short-term geopolitical shocks. In addition, you can check the Strategy’s top 5 holdings for its best picks for 2026.
In its first-quarter 2026 investor letter, SGA Global Growth Strategy highlighted Waste Connections, Inc. (NYSE:WCN). Waste Connections, Inc. (NYSE:WCN) is a North American waste management company. On June 16, 2026, Waste Connections, Inc. (NYSE:WCN) closed at $157.07 per share. One-month return of Waste Connections, Inc. (NYSE:WCN) was 0.06%, and its shares lost 16.07% over the past 52 weeks. Waste Connections, Inc. (NYSE:WCN) has a market capitalization of $39.91 billion.
SGA Global Growth Strategy stated the following regarding Waste Connections, Inc. (NYSE:WCN) in its Q1 2026 investor letter:
“During the quarter, we visited Waste Connections, Inc.’s (NYSE:WCN) headquarters and Driver Academy in Texas and met with senior management, including the CEO Ron Mittelstaedt, COO Jason Craft, and leadership responsible for people, training, and development. The visit provided valuable insight into the company’s approach to labor management, safety, and long-term human capital development, which we view as core differentiators in an operationally and labor-intensive industry.
A central focus of the discussion was Waste Connections’ continued investment in its workforce, particularly through its Driver Academy and in-house Commercial Driver License (CDL) training programs. Management outlined how these initiatives are designed to improve safety outcomes, reduce voluntary turnover, and enhance service quality. The academy reflects a deliberate effort to elevate training standards and broaden career pathways, including upskilling internal laborers into higher-paying CDL roles. These efforts have contributed to meaningfully lower turnover and incident rates over the past several years, with positive downstream effects on operating efficiency and cost of risk. We view the company’s emphasis on safety, coachability, and cultural fit as an important component of sustainable margin performance and employee engagement…” (Click here to read the full text)
Waste Connections, Inc. (NYSE:WCN) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 62 hedge fund portfolios held Waste Connections, Inc. (NYSE:WCN) at the end of the first quarter, up from 53 in the previous quarter. While we acknowledge the risk and potential of Waste Connections, Inc. (NYSE:WCN) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WASTE CONNECTIONS, INC. (NYSE:WCN) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Waste Connections, Inc. (NYSE:WCN) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
