Baron Small Cap Fund says Legence (LGN) benefits from the AI data center boom, with Q2 revenue and cash flow doubling, and order backlog reaching a record high.
Baron Small Cap Fund noted in its Q2 2026 investor letter that Legence Corp. (NASDAQ:LGN), an engineering and construction services provider, doubled its revenue and cash flow during the quarter and achieved a record-high order backlog due to strong business momentum and continued enthusiasm for artificial intelligence and data center construction. The stock contributed 1.24% to the fund's performance in the second quarter.
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