Secondary / Tertiary Beneficiaries
Layer 9 of 10 — downstream tier
Power utilities near data centers, on-site generation, MEP contractors, grid construction, electrical distribution, industrial real estate, and water / cooling infrastructure
Securities (13)
| Ticker | Name | Mkt Cap ($M) |
|---|---|---|
| CAT | Caterpillar | 180,000 |
| ETN | Eaton Corp | 130,000 |
| CEG | Constellation Energy | 70,000 |
| EMR | Emerson Electric | 65,000 |
| FIX | Comfort Systems USA, Inc. | 51,814 |
| CMI | Cummins | 50,000 |
| PWR | Quanta Services | 45,000 |
| VST | Vistra Energy | 40,000 |
| AME | Ametek | 40,000 |
| NRG | NRG Energy | 18,000 |
| ACM | AECOM | 17,000 |
| J | Jacobs Solutions | 17,000 |
| MTZ | MasTec | 10,000 |
Signal Summary
1 of 13 tickers are bullish, 0 bearish, 12 neutral.
Signal analysis for this layer is available after sign-in. Sign in to view per-ticker direction, conviction, and composite values.
Layer Characteristics
| Typical Volatility | 22% annual |
| Beta to Nasdaq | 0.50 |
| CapEx Cycle | 10 quarters |
| Max Portfolio Weight | 10% |
| Signal Weights | 10% daily, 35% weekly, 55% quarterly |
Secondary / Tertiary Beneficiaries FAQ
What is Secondary / Tertiary Beneficiaries in the AI supply chain?
Secondary / Tertiary Beneficiaries is Layer 9 of 10 in Early Signal's AI supply chain taxonomy. Power utilities near data centers, on-site generation, MEP contractors, grid construction, electrical distribution, industrial real estate, and water / cooling infrastructure
What stocks are in Secondary / Tertiary Beneficiaries?
Early Signal tracks 13 stocks in Secondary / Tertiary Beneficiaries, including CAT, ETN, CEG. See the full securities table above for all tickers with signal data.
How does Early Signal analyze Secondary / Tertiary Beneficiaries stocks?
Early Signal uses a proprietary multi-timeframe signal model. For Secondary / Tertiary Beneficiaries stocks, the weighting is 10% daily, 35% weekly, and 55% quarterly factors. Learn more on the methodology page.
What layers are connected to Secondary / Tertiary Beneficiaries?
Upstream: Infrastructure, AI-Enabled Transformation.
What is the risk profile of Secondary / Tertiary Beneficiaries?
Secondary / Tertiary Beneficiaries stocks have a typical beta to Nasdaq of 0.50 and annualized volatility of 22%. The capex cycle is approximately 10 quarters. Maximum recommended portfolio weight is 10%.
Analysis as of May 26, 2026 20:02 UTC. Live data.
Learn how we analyze Secondary / Tertiary Beneficiaries stocks →