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Find ideas that fit your investment framework

Mosaic applies your research framework company by company—investigating the questions that matter, preserving the evidence behind each conclusion, and helping you compare the findings.

Mosaic researches companies against your framework, with evidence behind every conclusion.

Which US industrial companies are direct beneficiaries of structural capital spending?

Investment framework

US Industrial-Capex
Compounders

Company universe · Four qualitative gates · Ranking rubric

US-listed Industrials $10–100B market cap +4

Best matches for this framework

  • ELO1,355.5
    STRL.USSterling Infrastructure, Inc.
  • ELO1,347.9
    MTZ.USMasTec, Inc.

Sterling Infrastructure

STRL.US

Screening conclusion: QUALIFIES

Sterling passes all four framework gates. Direct capex exposure, expanding backlog and mission-critical execution support its fit.

1. Capex-megacycle exposure — PASS

E-Infrastructure serves data centers, semiconductor fabrication, manufacturing… (STRL 10-K FY2025).

This directly supports exposure to AI data-center buildout and semiconductor-fab construction, with additional exposure to US manufacturing and power infrastructure.

Your investment framework, applied company by company

  1. Define what a company must prove

    Turn your investment thesis into a reusable research method. Define what qualifies a company, what rules it out and the evidence Mosaic must find.

    Set what qualifies a company, what rules it out and the evidence Mosaic must find.

    RunsDefinition

    US specialty industrial / A&D / specialty-materials companies at $10–100B market cap that are direct beneficiaries of AI datacenter, semiconductor fab, US reshoring, defense industrial base, and IIJA/grid capex mega-cycles. Modeled on EMCOR (EME), Comfort Systems (FIX), Sterling Infrastructure (STRL), and Carpenter Technology (CRS).

    Research section

    US Industrial-Capex Compounders — framework v1

    US specialty industrial / A&D / specialty-materials companies at $10–100B market cap that are direct beneficiaries of AI datacenter, semiconductor fab, US reshoring, defense industrial base, and IIJA/grid capex mega-cycles.

    Qualitative context

    Tasks 1–4 each demand a PASS/FAIL verdict with cited evidence from the company’s own filings (10-K/10-Q/earnings-call/investor presentation); a company must PASS all four to qualify. Task 5 is the peer-valuation construction, independent of pass/fail.

    Ground every judgment in the Portrait document corpus; do not infer end-market exposure from industry classification alone.

    Tasks

    [capex-megacycle-exposure] Assess the subject’s direct US capex mega-cycle exposure. Report the specific end-market disclosure, revenue exposure and a PASS/FAIL verdict.

  2. Research your universe

    Apply the same research approach company by company. Investigate the questions that financial filters alone cannot answer.

    Start with a small sample, examine the findings and refine the instructions before expanding the work.

    Test your research instructions on a small company sample. Review and refine them before expanding to your universe.

    Industrial capex sample

    US-listed · $10–100B market cap

    • Advanced Energy Industries, Inc.AEIS.USDoes not qualify
    • Alcoa CorporationAA.USDoes not qualify
    • Sterling Infrastructure, Inc.STRL.USQualifies
    • MasTec, Inc.MTZ.USQualifies
    • Allegion plcALLE.USDoes not qualify
    • Allison Transmission Holdings, Inc.ALSN.USDoes not qualify
    • AngloGold Ashanti plcAU.USDoes not qualify
    • APi Group CorporationAPG.USQualifies
    • Arxis, Inc.ARXS.USQualifies
    • nVent Electric plcNVT.USQualifies
    • Comfort Systems USA, Inc.FIX.USQualifies
    • Dycom Industries, Inc.DY.USQualifies
    • Quanta Services, Inc.PWR.USQualifies

  3. Inspect each conclusion

    Open the company dossiers to examine the findings, supporting analysis and gaps. See why a company meets your requirements—or falls short.

    The framework sets the questions. The research gives you work to examine. The investment judgment remains yours.

    Check each company’s findings, evidence and gaps. See why it qualifies; keep the investment judgment yours.

    STRL.USSterling Infrastructure, Inc.
    summary.mdresearch.md

    Sterling Infrastructure, Inc. (STRL)

    Screening conclusion: QUALIFIES

    Sterling passes all four qualitative framework gates. Its strongest fit is direct exposure to AI/data-center and semiconductor/manufacturing construction through E-Infrastructure, supported by rapidly expanding backlog and a differentiated mission-critical execution niche.

    1. Capex-megacycle exposure — PASS

    Sterling’s FY2025 10-K says E-Infrastructure serves “data centers, semiconductor fabrication, manufacturing, distribution centers, warehousing, power generation and more” (STRL 10-K FY 2025).

    The principal caution is that data-center revenue is not separately reported and the business retains fixed-price contract, customer-concentration, and project-cancellation risks.

  4. Compare what holds up

    Bring the company research together to compare the findings. For screening work, rank researched companies against your own investment priorities.

    Research-only tasks keep the findings without a ranking. When you use a ranking, the order expresses relative fit to your rubric.

    Compare company findings. For screening, rank by fit to your rubric; research-only tasks retain the findings without ranking.

    Ranked companies (26)

    Ranked by ELO score from company-by-company comparisons.

    Search by name or ticker ELO band Export to Excel
    RankCompanyELO
    1STRL.US Sterling Infrastructure, Inc.1,355.5
    2MTZ.US MasTec, Inc.1,347.9
    3NVT.US nVent Electric plc1,346.2
    4FIX.US Comfort Systems USA, Inc.1,341.9
    5DY.US Dycom Industries, Inc.1,324.4
    6PWR.US Quanta Services, Inc.1,276.5

Test the framework before you scale the research.

  1. Define the framework

    Set the filters, research instructions and ranking rubric that govern the work.

    Read the framework guide

  2. Run a controlled trial

    Test it on up to 20 companies. Inspect the research and refine the framework before scaling.

    Read the trial guide

  3. Research at scale

    Apply the refined framework company by company, then compare the work against your rubric.

    Read the full research guide

See your investment framework at work.

Mosaic applies your questions and criteria company by company across an investment universe, with the research behind the results.

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