Strong Results Lifted Tutor Perini Corporation (TPC) in Q3

Fred Alger Management, an investment management company, released its “Alger Small Cap Focus Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. U.S. equity markets continued their upward trajectory in the third quarter with the S&P 500 Index rising 8.12%. A combination of improving economic conditions, solid corporate earnings, and growing expectations for monetary easing propelled the robust equity market. Against this backdrop, the class A shares of the fund underperformed the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its third-quarter 2025 investor letter, Alger Small Cap Focus Fund highlighted stocks such as Tutor Perini Corporation (NYSE:TPC). Headquartered in Sylmar, California, Tutor Perini Corporation (NYSE:TPC) is a construction company. On November 27, 2025, Tutor Perini Corporation (NYSE:TPC) stock closed at $67.56 per share. One-month return of Tutor Perini Corporation (NYSE:TPC) was -0.19%, and its shares gained 147.93% of their value over the last 52 weeks. Tutor Perini Corporation (NYSE:TPC) has a market capitalization of $3.563 billion.

Alger Small Cap Focus Fund stated the following regarding Tutor Perini Corporation (NYSE:TPC) in its third quarter 2025 investor letter:

"Tutor Perini Corporation (NYSE:TPC) is a leading construction company providing a broad range of general contracting, construction management, and design-build services to private and public sector clients globally. Tutor Perini’s offerings include comprehensive project management—from pre-construction planning to detailed scheduling of labor, equipment, materials, and subcontractors—as well as self-performed construction services such as site preparation, concrete forming and placement, steel erection, electrical work, mechanical systems, plumbing, HVAC (heating, ventilation, and air conditioning), and fire protection. Shares of Tutor Perini contributed positively during the quarter after the company reported strong second-quarter results and increased its full-year 2025 earnings guidance. Management also reiterated expectations for a meaningful step-up in earnings in 2026, reflecting a supportive infrastructure spending backdrop and continued improvement in project execution, which together bolstered investor confidence."

Tutor Perini Corporation (NYSE:TPC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Tutor Perini Corporation (NYSE:TPC) at the end of the third quarter, which was 31 in the previous quarter. While we acknowledge the potential of Tutor Perini Corporation (NYSE:TPC) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Tutor Perini Corporation (NYSE:TPC) and shared a bullish thesis on the company. In addition, please check out our hedge fund investor letters Q3 2025 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.