2 days ago
3
Soumya Eswaran
Thu, June 18, 2026 astatine 8:27 AM CDT 3 min read
Prosper Stars & Stripes, a long/short equity fund, precocious released its first-quarter 2026 capitalist letter. A transcript of the missive is disposable to download here. In Q1 2026, the portfolio underperformed with a nett instrumentality of (-5.6%) compared to the Russell 2000 Index's +0.9% instrumentality and the HFRX Equity Hedge Index's -1.5% return. Long publication show was negative, portion the abbreviated publication contributed positively. Geopolitics importantly influenced the archetypal quarter, contributing to accrued ostentation pressures and elevated vigor prices. Additionally, you tin reappraisal the Portfolio's apical 5 holdings to spot its champion picks for 2026.
In its first-quarter 2026 capitalist letter, Prosper Stars & Stripes highlighted Modine Manufacturing Company (NYSE:MOD) arsenic a notable contributor. Modine Manufacturing Company (NYSE:MOD) is an concern institution focuses connected thermal absorption products and solutions. On June 17, 2026, Modine Manufacturing Company (NYSE:MOD) closed astatine $283.88 per share. One-month instrumentality of Modine Manufacturing Company (NYSE:MOD) was 13.50%, and its shares gained 195.40% implicit the past 52 weeks. Modine Manufacturing Company (NYSE:MOD) has a marketplace capitalization of $14.99 billion.
Prosper Stars & Stripes stated the pursuing regarding Modine Manufacturing Company (NYSE:MOD) successful its Q1 2026 capitalist letter:
"Modine Manufacturing Company (NYSE:MOD) was the apical contributor successful our agelong publication successful the archetypal quarter. The institution has been undergoing a classical concern translation story. Through a bid of acquisitions and divestitures, we judge absorption has repositioned Modine's heavy thermal engineering expertise distant from slower maturation extremity markets similar automotive and toward higher-growth, structurally advantaged markets specified arsenic AI information centers. With the announced spin-off of its Performance Technologies segment, Modine volition go a axenic play Climate Solutions concern with a absorption connected information halfway cooling, commercialized HVAC, and refrigeration. We person recovered occurrence investing successful high-growth, value-added suppliers, and we judge Modine exemplifies this approach. Over the past 3 years, Modine's information halfway concern has delivered yearly gross maturation successful excess of 60% per year. This maturation has driven EBITDA margins from 9% successful FY2023 to an expected 17% by FY2027. Hyperscalers are expected to walk astir $725 cardinal connected AI capex successful FY2026, and the chips powering this buildout necessitate precocious thermal absorption solutions similar those Modine provides. Consistent with our valuation discipline, we exited the presumption successful March arsenic the EV/EBITDA aggregate reached 20x, which we viewed arsenic just value."
.png)
English (CA) · 
English (US) · 
Spanish (MX) ·