On Monday, February 12, Will Harpin pitched Caterpillar Inc. to add to the Industrial Sector holdings of the class’s portfolio. Caterpillar recently underwent large internal restructuring and has seen growth in construction and resource industries, both internationally and in the US. Caterpillar is the world’s largest manufacturer of construction equipment and produce industrial equipment for a wide range of purposes. Will’s pitch focused on the possibility of the US Infrastructure bill (which President Trump announced the same day as Will’s pitch), the recent restructuring of Caterpillar, and the belief that the industrial machinery industry was in an upswing. Caterpillar has focused on environmental initiatives and the use of more efficient manufacturing methods, therefore raising profit margins. Will proposed the purchase of 40 shares of Caterpillar stock to be paid with through the sale of stock in the industrial ETF, XLI, and use of cash within the portfolio. The proposal passed unanimously.