What smart money is saying about Modine Manufacturing
3 funds in our archive have pitched Modine Manufacturing — most recently Pender US Small Mid Cap Equity Fund in June 2025.
Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units. It also provides microchannel, heat recovery, round tube plate fin, and motor and generator cooling coils; evaporator unit, fluid, transformer oil, gas, air blast, and dry and brine coolers, as well as remote condensers; and coatings to protect against corrosion. In addition, the company offers powertrain cooling products, including engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products comprising exhaust gas recirculation, engine oil, fuel, charge air, and intake air coolers; auxiliary cooling products, such as transmission and retarder oil coolers, and power steering coolers; and complete battery thermal management systems and electronics cooling packages. It serves heating, ventilation, and cooling OEMs; construction architects and contractors; wholesalers of heating equipment; automobile, truck, bus, and specialty vehicle OEMs; agricultural, industrial, and construction equipment OEMs; and commercial and industrial equipment OEMs. The company has operations in North America, South America, Europe, and Asia. Modine Manufacturing Company was incorporated in 1916 and is headquartered in Racine, Wisconsin.
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Position history
Between Q1 2025 and Q3 2026, 9 fund letters reported a position in Modine Manufacturing — 1 opened or added to the position, 4 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 7 | 1 | 3 | 0 |
| Q1 2026 | 1 | 0 | 1 | 0 |
| Q2 2025 | 0 | 0 | 0 | 2 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Fund activity · 9 positions · 5 moves
- July 2026
“StandardAero (SARO): Another strong quarter in commercial aerospace and business aviation. Management increased 2026 guidance and reiterated that they are not expecting any impact from higher jet fuel prices as they are positioned on the most fuel-efficient engine platforms and nearly 40% of their business sits in end markets that are not sensitive to jet fuel prices. Modine (MOD): Modine delivered another solid quarter, led by 90% growth in data centre revenue and a third consecutive quarter of record order intake, backlog nearly doubled year over year.”
Modine Manufacturing - New positionArtisan Partners U.S. Mid‑Cap Growth StrategyJune 2026
“During the quarter, we initiated new positions in Entegris, Modine Manufacturing and C.H. Robinson Worldwide.”
Modine Manufacturing - June 2026
“In addition to Twist Bioscience, IBP, Ascendis Pharma and MACOM, we also trimmed Modine during the quarter. Modine is a global leader in thermal management. The company reported a solid quarter, supported by robust demand from hyperscale data center customers and accelerating growth in its climate solutions business. Modine also announced a long-term capacity agreement that reinforced demand visibility through 2029. Margin expansion remained slower than expected as the company continued to ramp capacity and absorb supply chain and input cost pressures. We trimmed the position following the stock’s strong appreciation, as it had grown beyond the position size we were comfortable maintaining.”
Modine Manufacturing - June 2026
“Areas of particular interest include data center cooling, advanced semiconductor materials, process technologies and high-speed networking. These are reflected in holdings such as Entegris, Modine Manufacturing, MACOM Technology Solutions, Lattice Semiconductor and STMicroelectronics.”
Modine Manufacturing - June 2026
“Modine Manufacturing Co. Core Growth 3.5% Nextpower Inc.”
Modine Manufacturing - June 2026
“We trimmed Adeia (ADEA) repeatedly as the shares rerated, with 2026 estimates now largely reflecting the benefits of its AMD license agreement, and we pared StoneX, Digi International, Modine, Kodiak Gas Services, and Atmus for the sizing and funding reasons described earlier in this letter.”
Modine Manufacturing - HoldsBridge City Capital Small Cap Growth CompositeJune 2026
Listed in Bridge City Capital Small Cap Growth Composite’s reported holdings.
Modine Manufacturing - June 2026
“As noted above, Direct AI beneficiaries and a few other stocks in the portfolio rose sharply and in a number of instances prices raced ahead of fundamentals compressing future expected returns. We exited several positions including Credo Technology (CRDO), Semtech (SMTC), Nova Limited (NVMI), Universal Technical Institute (UTI) and Comfort Systems (FIX), entirely, and trimmed others, such as Modine (MOD), Forgent Power Solutions (FPS), Onto Innovation (ONTO), TTM Technologies (TTMI), and Carpenter Technology Corp (CRS).”
116 more words on why — unlock Granahan Investment Management Focused Growth Strategy’s full commentModine Manufacturing - March 2026
“During the quarter, we initiated positions in six new investments and sold six. One sale was due to a merger announcement. We sold First Interstate BancSystems and Modine due to valuation.”
Modine Manufacturing
Fund coverage · 3 theses
- Pender US Small Mid Cap Equity FundJune 2025
Modine Manufacturing is a thermal management systems provider focusing on high-growth data center cooling and indoor air quality, demonstrating strong execution and shareholder value creation under CEO Neil Brinker.
Read the full thesis - Choice EquitiesJune 2025
Modine Manufacturing Company is effectively executing its transformation strategy under CEO Neil Brinker, leveraging the Danaher Business System, with expectations of sustained topline growth and mid-teens earnings growth driven by durable demand in key segments and strategic acquisitions.
Read the full thesis - Southersun Small Cap InvestmentMarch 2025
Modine Manufacturing Company (MOD) is a thermal management company transitioning from a legacy automotive focus to HVAC solutions under new leadership, showing strong operational improvements and growth potential.
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