Wasatch Global Investors, an asset management company, released its “Micro Cap Fund” Q1 2026 investor letter. A copy of the letter can be downloaded here. The Wasatch Micro-Cap Fund—Investor Class fell 3.11% in Q1 2026 but outperformed the Russell Microcap Growth benchmark, which declined 4.25%. Sectors like industrials, consumer discretionary, and financials contributed positively to the fund’s performance, while information technology detracted. The US-Iran conflict and concerns about AI disruption led to market volatility in the quarter. The fund maintains a balanced risk portfolio, with strong fundamentals positioning it for long-term growth. In addition, you can check the Fund’s top 5 holdings for its best picks for 2026.
In its first-quarter 2026 investor letter, Wasatch Micro-Cap Fund highlighted Cardinal Infrastructure Group Inc. (NASDAQ:CDNL). Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) is a civil contracting company focused on site development and infrastructure services. On June 18, 2026, Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) closed at $81.40 per share. One-month return of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) was 66.63%, and its shares gained 236.64% over the past 52 weeks. Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) has a market capitalization of $1.24 billion.
Wasatch Micro-Cap Fund stated the following regarding Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) in its Q1 2026 investor letter:
“Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) was another contributor to performance. The company is an installer of “wet utilities” such as water, sewer and stormwater systems. The services it provides require a skilled workforce and significant engineering expertise, and the company is being pulled into markets by national homebuilders who value Cardinal’s ability to get essential work done on a timely basis. In this vein, during the quarter Cardinal expanded its footprint beyond the Carolinas into Georgia via an acquisition, a move that was well received by the market. The company has shown impressive revenue growth, has a strong order backlog that provides visibility into future earnings and has a long runway to expand geographically and via acquisitions.”
Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 20 hedge fund portfolios held Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) at the end of the first quarter, up from 19 in the previous quarter. In Q1 2026, Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) reported revenue of $168 million, up 105% from the first quarter of 2025. While we acknowledge the risk and potential of Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) 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 CARDINAL INFRASTRUCTURE GROUP INC. (NASDAQ:CDNL) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Cardinal Infrastructure Group Inc. (NASDAQ:CDNL) and shared the list of small-cap stocks that are on fire. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
