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Soumya Eswaran
Mon, June 1, 2026 astatine 9:50 AM CDT 3 min read
Tourlite Capital Management, an concern absorption company, released its first-quarter 2026 capitalist letter. A transcript of the missive is disposable to download here. In Q1, Tourlite Fund, LP returned 16.9%, importantly surpassing the (4.4%) instrumentality for the S&P 500 Index and 0.9% for the Russell 2000. The Fund delivered annualized returns of 11.9% since inception, compared to 11.2% and 6.3% for the indexes, respectively. Macroeconomic and geopolitical volatility continues to interaction the planetary system arsenic it enters the 2nd quarter. Despite signs of de-escalation successful the warfare and the closure of the Strait of Hormuz, unit connected the planetary lipid marketplace remains. The Fund expects pro-growth policies to guarantee economical stability, and the "Iran War" has heightened the hazard of a prolonged "higher-for-longer" interest-rate environment. In addition, you tin cheque the firm’s apical 5 holdings to find its champion picks for 2026.
In its first-quarter 2026 capitalist letter, Tourlite Capital Management highlighted stocks similar FTAI Infrastructure Inc. (NASDAQ:FIP). FTAI Infrastructure Inc. (NASDAQ:FIP) is an American infrastructure institution that engages successful acquiring, developing, and operating assets and businesses crossed North America. On May 29, 2026, FTAI Infrastructure Inc. (NASDAQ:FIP) closed astatine $4.46 per share. One-month instrumentality of FTAI Infrastructure Inc. (NASDAQ:FIP) was -16.13%, and its shares mislaid 23.89% implicit the past 52 weeks. FTAI Infrastructure Inc. (NASDAQ:FIP) has a marketplace capitalization of $527.01 million.
Tourlite Capital Management stated the pursuing regarding FTAI Infrastructure Inc. (NASDAQ:FIP) successful its Q1 2026 capitalist letter:
FTAI Infrastructure Inc. (NASDAQ:FIP): We proceed to judge FIP’s stock terms remains importantly beneath the intrinsic worth of its underlying assets. On April 30th, the institution executed the archetypal large measurement successful its plus monetization strategy by announcing the merchantability of its Long Ridge powerfulness plus for a full endeavor worth of $1.52 billion. After accounting for $1.16 cardinal successful project-level debt, the transaction allows for a $300 cardinal paydown of Holdco debt, with the remaining nett proceeds disposable for reinvestment into the halfway obstruction business.
As absorption continues to integrate Transtar and the Wheeling Corporation, alongside operational advancement astatine Repauno, we expect 2027 volition beryllium a definitive twelvemonth for the firm. Management has guided to $220 cardinal successful normalized EBITDA for Transtar; applying a 12x blimpish aggregate for short-line obstruction assets, this conception unsocial implies a valuation exceeding $10 per share…” (Click present to work the afloat text)
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