In this article, we will list the Peconic Partners Stock Portfolio: 5 Stock Picks. Please visit Peconic Partners Stock Portfolio: 9 Stock Picks if you would like to see the extended list and the methodology behind it.
5. Freeport-McMoRan Inc (NYSE:FCX)
Peconic Partners’ Investment Stake: $195 Million
Number of Hedge Fund Holders: 82
Freeport-McMoRan Inc (NYSE:FCX) is one of Peconic Partners’ top stock picks. This mining stock has gained more than 42% over the past year, and analysts expect it to keep rising. Peconic Partners increased its position in Freeport stock by 66% during Q1 2026, and the stock now makes up 3.37% of the fund’s portfolio.
On June 24, Freeport-McMoRan Inc (NYSE:FCX) announced that its board declared a cash dividend of $0.15 per share. The dividend is payable on August 3 to shareholders on record as of July 15. The board considers factors like the company’s financial results, cash requirements, and global economic conditions to determine if payment of dividends is relevant.
Speaking of financial results, Freeport’s dividend declaration follows solid Q1 2026 results. Revenue rose to $6.23 billion from $5.73 billion a year ago. EPS jumped to $0.61 from $0.24. The company closed the quarter with $3.7 billion in cash.
During the quarter, Freeport sold 657 million pounds of copper, 121,000 ounces of gold, and 24 million pounds of molybdenum. The company aims to sell around 3.1 billion pounds of copper, 650,000 ounces of gold, and 90 million pounds of molybdenum in the full-year 2026.
Arizona-based Freeport-McMoRan Inc (NYSE:FCX) is a major mining company with operations in the US and Indonesia. It produces copper, gold, and molybdenum. Freeport’s Grasberg property in Indonesia is the world’s single largest gold deposit.
4. Amazon.com Inc (NASDAQ:AMZN)
Peconic Partners’ Investment Stake: $198.6 Million
Number of Hedge Fund Holders: 353
Amazon.com Inc (NASDAQ:AMZN) is one of Peconic Partners’ top stock picks. The William Harnisch-led hedge fund increased its position in Amazon stock by 214% in Q1 2026. Some 353 hedge funds back Amazon stock, and analysts see a more than 37% upside potential in the stock from the current price.
On June 29, Bloomberg reported that Amazon.com Inc (NASDAQ:AMZN) is making an aggressive push into India’s booming rapid delivery market. This market is estimated to be worth around $11 billion.
Amazon is leveraging its network of last-mile warehouses to push deeper into smaller cities. The company’s ultra-fast delivery service, called Amazon Now, launched in India last year and has reached roughly 15 cities and towns. The company plans to expand the service to more than 300 cities and towns.
Although Amazon had a delayed entry into India’s rapid delivery scene, experts see it taking market share from the incumbents, according to the report. The experts cite Amazon’s deep pockets, rapid store expansion, and aggressive discounts as advantages in the rapid delivery race. Amazon also plans to invest $13 billion to expand its AI and cloud computing capabilities in India.
Jeff Bezos-founded Amazon.com Inc (NASDAQ:AMZN) is a multinational technology company with diversified operations. It operates a global e-commerce platform and provides cloud computing, online advertising, and digital media services.
3. Mastec Inc (NYSE:MTZ)
Peconic Partners’ Investment Stake: $1.2 Billion
Number of Hedge Fund Holders: 2
Mastec Inc (NYSE:MTZ) is one of Peconic Partners’ top stock picks. The hedge fund increased its holding in Mastec stock by 124% during Q1 2026, and the stock now makes up more than 19.9% of the fund’s portfolio. Mastec shares have gained more than 80% year-to-date and surged more than 140% over the past year.
On June 18, Baird reaffirmed its Buy rating on Mastec Inc (NYSE:MTZ) stock with a price target of $473 on the shares. The brokerage expects the company to perform strongly in the year ahead and sees a pullback in the stock as a buying opportunity.
Mastec had a strong start to the year. It posted EPS of $0.77, reflecting an increase of 516% YoY. Revenue came in at $3.8 billion, indicating an increase of 34% YoY. The company exited the quarter with a record 18-month backlog of $20.3 billion, reflecting an increase of $4.4 billion from a year. Surging orders in the clean energy and infrastructure segment were a major contributor to the backlog growth.
Amid the swelling backlog, Mastec raised its full-year 2026 guidance. It expects full-year 2026 adjusted EPS of $8.79, compared to $6.55 in full-year 2025.
Florida-based Mastec Inc (NYSE:MTZ) is a specialty infrastructure contractor. It builds and maintains communications, energy, and utility infrastructure. For instance, its communications segment serves both wireless and wireline infrastructure markets.
2. Dycom Industries Inc (NYSE:DY)
Peconic Partners’ Investment Stake: $1.4 Billion
Number of Hedge Fund Holders: 52
Dycom Industries Inc (NYSE:DY) is one of Peconic Partners’ top stock picks. Dycom Industries stock makes up 24% of Peconic Partners’ equity portfolio. The stock is backed by 52 hedge funds. Over the past year, Dycom’s share price has nearly doubled, and analysts see more than 30% upside potential in the stock.
On June 1, KeyBanc raised its price target on Dycom Industries Inc (NYSE:DY) shares to $610 from $482 while keeping an Overweight rating on the stock. For this action, the brokerage cited the company’s blowout fiscal Q1 2027 results and upbeat Q2 and fiscal full-year 2027 outlook.
In Q1, Dycom posted adjusted EPS of $4.42, which increased 84.9% YoY and beat a forecast of $2.72. Revenue rose 56.1% YoY to $1.96 billion, surpassing the anticipated $1.67 billion.
Looking ahead, Dycom expects Q2 revenue in the range of $1.94 billion to $2.01 billion. It projects adjusted EPS in the band of $4.40 to $4.82. For fiscal year 2027, it expects revenue to come between $7.38 billion and $7.65 billion.
KeyBanc’s optimism is largely based on the strength in Dycom’s fiber-to-the-home market and expanding margins. Moreover, KeyBanc plans to adjust its estimates for Dycom once the company closes the acquisition of NTI to bolster its data center cabling capabilities.
Dycom Industries Inc (NYSE:DY) provides specialty contracting services to telecommunications infrastructure and utility industries across the US. The company’s work spans project management, planning, construction, and maintenance services.
1. Quanta Services, Inc. (NYSE:PWR)
Peconic Partners’ Investment Stake: $2.7 Billion
Number of Hedge Fund Holders: 94
Quanta Services, Inc. (NYSE:PWR) is one of Peconic Partners’ top stock picks. The stock makes up 47.56% of the fund’s portfolio. Quanta shares have gained more than 50% year-to-date and surged more than 70% over the past year.
In late June 2026, Quanta Services, Inc. (NYSE:PWR) was reclassified out of several Russell midcap and value benchmarks and added to larger‑cap, growth, and defensive Russell indexes.
This move underscores Quanta’s evolution into a bigger, growth‑oriented infrastructure player. At the same time, its subsidiary announced a joint venture with Hyosung HICO to manufacture high‑voltage circuit breakers in Pennsylvania, strengthening Quanta’s U.S. power equipment footprint and reinforcing its role in grid modernization.
Separately, on July 2, Truist raised its price target on Quanta Services to $940 from $851 while maintaining a Buy rating. The firm adjusted estimates across machinery, infrastructure services, and multi‑industry names as part of its Q2 preview, noting a favorable setup for earnings across the sector. Truist highlighted strong demand trends supported by secular growth tailwinds in power, data centers, aerospace and defense, and broader infrastructure.
Quanta Services, Inc. (NYSE:PWR) delivers comprehensive infrastructure solutions across electric and gas utilities, power generation, load centers, manufacturing, communications, pipelines, and the broader energy sector.
While we acknowledge the potential of PWR to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PWR and that has 100x upside potential, check out our report about the cheapest AI stock.
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