On Wednesday, Seven Group Holdings’ (ASX: SVW) shares were bolstered after heavy machine maker Caterpillar announced strong sales and revenue figures and a positive outlook statement with its second quarter earnings report in the US. Seven Group owns WesTrac, which is the authorised dealer of Caterpillar equipment in New South Wales and Western Australia. We are positive about the outlook for domestic mining services businesses as companies look to replace aging equipment and increase capital expenditure. Seven Group shares closed up 14.1% for the week. We own Seven Group as a market-driven investment in WAM Capital, WAM Leaders and WAM Active.
Chris is the Chief Investment Officer of Wilson Asset Management, having joined the company in 2006. He is also the Portfolio Manager responsible for WAM Capital (ASX:WAM), WAM Research (ASX:WAX), WAM Active (ASX:WAA) and WAM MicroCap (ASX:WMI).