In a move that has sparked curiosity among investors, Bosun Asset Management, LLC has fully exited its position in Argan, Inc. (AGX), selling off 36,119 shares during the third quarter of 2025. The transaction, valued at approximately $7.96 million based on quarterly average prices, marks a significant shift in the fund’s portfolio, eliminating a stake that previously accounted for about 2.4% of its assets under management (AUM).
Argan, a diversified engineering and construction firm, has been a standout performer in recent years. The company’s shares have surged by an impressive 102.71% over the past year, significantly outperforming the S&P 500 by 85.63 percentage points. As of November 9, 2025, Argan’s stock was priced at $311.58, reflecting a market capitalization of $4.59 billion. The company’s robust performance is underpinned by strong fundamentals, with a trailing twelve-month (TTM) revenue of $920.88 million and net income of $117.20 million.
Argan’s success can be attributed to its strategic focus on power generation, renewable energy, and industrial infrastructure projects. The company provides a comprehensive suite of services, including engineering, procurement, construction, commissioning, operations management, and maintenance. This broad capability allows Argan to cater to a diverse client base, including independent power project owners, public utilities, equipment suppliers, energy plant construction companies, government agencies, and regional communications providers.
The sale of Argan shares by Bosun Asset Management comes at a time when the company is riding a wave of growth. Argan’s stock has advanced by an astonishing 854% over the last three years, translating to a compound annual growth rate (CAGR) of 112%. This performance is a stark contrast to the S&P 500, which has generated a total return of 80% over the same period, with a CAGR of 21.7%. Year-to-date, Argan’s stock remains hot, up 147%.
Despite Bosun’s exit, Argan’s fundamentals remain solid. The company has exceeded earnings expectations in each of the last four quarters. Moreover, three of the four sell-side analysts who cover the stock currently rate it as a buy. This positive outlook is likely driven by Argan’s strategic positioning in the power industry, particularly in the context of the booming demand for power driven by artificial intelligence (AI) data centers.
The sale of Argan shares by Bosun Asset Management may raise eyebrows, but it is essential to consider the broader context. The fund’s top holdings after the filing include AMZN ($24.72 million, 18.7% of AUM), AAPL ($19.31 million, 14.6% of AUM), CBOE ($18.86 million, 14.3% of AUM), GS ($13.46 million, 10.2% of AUM), and META ($8.45 million, 6.4% of AUM). This diversification strategy may have influenced the decision to exit Argan, rather than any negative sentiment towards the company.
For retail investors, Bosun’s sale should not necessarily be seen as a red flag. In fact, given Argan’s impressive performance history, strong analyst ratings, and its strategic ties to the power industry, retail investors may want to give this stock a closer look. The construction and engineering sector is evolving, with a growing emphasis on sustainability and technological innovation. Companies like Argan, which are well-positioned to capitalize on these trends, could continue to outperform in the long run.
In conclusion, Bosun Asset Management’s exit from Argan is a notable development, but it should be viewed within the broader context of the company’s strong performance and strategic positioning. As the construction industry continues to evolve, companies that can adapt to changing demands and leverage technological advancements are likely to thrive. Argan’s focus on power generation, renewable energy, and industrial infrastructure places it at the forefront of this transformation, making it a compelling investment opportunity for those looking to capitalize on the sector’s growth.