The Copper Squeeze
Electrification and data centers cause a copper shortage, and the companies that mine it and wire the grid win.
1Y +55.6%
Since published −1.2%
Published
1Y ago Today
Holdings
Freeport-McMoRan FCX · Direct beneficiary 30%One of the world's largest copper producers, so its earnings move most with the copper price.
Southern Copper SCCO · Direct beneficiary 25%Holds some of the largest copper reserves of any listed miner.
Quanta Services, Inc. PWR · Picks & shovels 16%The largest US contractor for building and upgrading transmission lines.
MasTec MTZ · Picks & shovels 12%Builds transmission, substations and data center power infrastructure.
Eaton Corporation plc ETN · Picks & shovels 10%Switchgear and transformers that use copper and are in short supply.
Amphenol APH · Picks & shovels 7%Connectors and cable assemblies for data centers and electrified vehicles.