Encompass Capital significantly boosted its investment in Powell Industries, increasing its share count by nearly 300% to 158,900 shares. According to a quarterly disclosure filed with the SEC, the position was valued at $45.5 million as of June 30, 2026. This estimated $34.1 million trade lifted the electrical equipment manufacturer's weight in Encompass's reported portfolio from 0.65% to 1.62%.
This filing reflects trades made during the second quarter of 2026 and was made public on August 14. During that period, Powell Industries reported a record $934 million in new orders and a backlog that grew to $2.4 billion. [11, 12] The company highlighted securing major new contracts, including a data center order exceeding $400 million, signaling strong business momentum. [11]