Jackson Peak Capital, an investment management firm, released its first-quarter 2026 investor letter. Jackson Peak Capital employs a concentrated long/short equity approach to deliver strong absolute returns across various market conditions. A copy of the letter is available to download here. In Q1 2026, Jackson Peak returned -21.0%, net, in a challenging environment. The underperformance in Q1 was driven by an increase in tech exposure, adverse movements in certain positions, and the lack of expected catalysts. The ACWI returned -2.2%, and the HFRX Equity Hedge Index returned -1.5% during the same time. The firm expects a strong Q2 start as AI acceleration and easing geopolitical tensions favor positions. At Q1’s end, net exposure was 36%, up from 25% from Q4’s end, with confidence in AI infrastructure, energy, compute, data center buildout, and event-driven positions. In addition, please check the fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Jackson Peak Capital highlighted Comfort Systems USA, Inc. (NYSE:FIX) as a leading contributor. Comfort Systems USA, Inc. (NYSE:FIX) is a leading mechanical and electrical installation, renovation, maintenance, repair, and replacement services provider to commercial, industrial, and institutional customers. On June 1, 2026, Comfort Systems USA, Inc. (NYSE:FIX) closed at $1,787.88 per share. One-month return of Comfort Systems USA, Inc. (NYSE:FIX) was -9.12%, and its shares gained 259.89% over the past 52 weeks. Comfort Systems USA, Inc. (NYSE:FIX) has a market capitalization of $62.91 billion.
Jackson Peak Capital stated the following regarding Comfort Systems USA, Inc. (NYSE:FIX) in its Q1 2026 investor letter:
“Our largest contributor in Q1 was Comfort Systems USA, Inc. (NYSE: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.”
Comfort Systems USA, Inc. (NYSE:FIX) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 80 hedge fund portfolios held Comfort Systems USA, Inc. (NYSE:FIX) at the end of the first quarter, up from 72 in the previous quarter. Comfort Systems USA, Inc.’s (NYSE:FIX) EPS reached $10.51 in the first quarter of 2026, representing more than double that of Q1 2025. While we acknowledge the risk and potential of Comfort Systems USA, Inc. (NYSE:FIX) 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 Comfort Systems USA, Inc. (NYSE:FIX) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Comfort Systems USA, Inc. (NYSE:FIX) and shared the list of best data center stocks with huge upside potential. 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.
