Eric Wajdula ’22 pitched Caterpillar (NYSE: CAT) on November 15th, 2021. Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. Caterpillar machinery is distributed to customers in more than 190 countries through a worldwide network of about 160 dealers, many of which provide sales, rental, service, and aftermarket support. Eric discussed the Infrastructure Investment and Jobs Act, a hard commodity super-cycle, a focus on Services, and a leading position in the development of machinery focused on energy transition and autonomous solutions as key growth drivers of Caterpillar. The class voted to buy 200 shares of CAT at market price and sell 90 shares of SPY at market price to cover the trade.