What smart money is saying about Modine Manufacturing Company
5 funds in our archive have pitched Modine Manufacturing Company, most recently Alger Mid Cap Focus Fund in September 2026.
Modine Manufacturing Company specializes in delivering advanced thermal management systems and heat exchange components, primarily catering to original equipment manufacturers (OEMs) in both on- and off-highway vehicular markets. The company's operations are structured into two main segments: Climate Solutions and Performance Technologies. Its extensive product portfolio encompasses a wide array of heating, ventilation, and air conditioning (HVAC) solutions. This includes various heating units such as gas-fired, hydronic, electric, and oil-fired models, alongside indoor and outdoor duct furnaces, infrared units, and perimeter heating offerings like commercial fin-tube radiation, cabinet unit heaters, and convectors. Modine also supplies roof-mounted direct- and indirect-fired makeup air units, unit ventilators, single packaged vertical units, and precision air conditioning systems designed for data centers. Further HVAC offerings feature air handler units, fan walls, chillers, ceiling cassettes, hybrid fan coils, and diverse condensers and condensing units. Beyond HVAC, Modine manufactures a range of coils, including microchannel, heat recovery, round tube plate fin, and specialized motor and generator cooling coils. Its comprehensive cooling product line also features evaporator units, fluid coolers, transformer oil coolers, gas and air blast coolers, dry and brine coolers, and remote condensers. Additionally, the company provides protective coatings to guard against corrosion. Furthermore, Modine is a key supplier of advanced thermal management solutions for vehicles. This covers powertrain cooling products such as engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks. On-engine cooling components comprise exhaust gas recirculation (EGR), engine oil, fuel, charge air, and intake air coolers. Auxiliary cooling solutions include transmission and retarder oil coolers, and power steering coolers. The company also offers complete battery thermal management systems and electronics cooling packages, crucial for modern electric and hybrid vehicles. Modine caters to a broad customer base, including original equipment manufacturers (OEMs) in the HVAC, automotive, truck, bus, specialty vehicle, agricultural, industrial, and construction sectors. Its reach extends to construction architects, contractors, and wholesalers of heating equipment, as well as OEMs for commercial and industrial machinery. With a significant global footprint, Modine operates across North America, South America, Europe, and Asia. Established in 1916, Modine Manufacturing Company maintains its corporate headquarters in Racine, Wisconsin.
Get an email when a fund buys, sells or pitches it
Fund signal · last 12 months
21 lettersMore funds are selling than buying
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q3 2026, 26 fund letters reported a position in Modine Manufacturing Company, with 5 buys (opened or added) and 9 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 11 | 0 | 5 | 2 |
| Q2 2026 | 7 | 1 | 3 | 0 |
| Q1 2026 | 2 | 0 | 1 | 0 |
| Q4 2025 | 1 | 1 | 0 | 0 |
| Q3 2025 | 2 | 0 | 0 | 0 |
| Q2 2025 | 1 | 1 | 0 | 2 |
| Q1 2025 | 2 | 2 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 26 positions · 15 moves
- September 2026
“Modine is a global leader in thermal management. Quarterly revenue was in line with expectations, as supply chain issues prevented the company from shipping some orders at the end of the quarter. Margins were weaker than expected as these disruptions limited the company’s ability to operate its plants efficiently. While Modine expects margins to improve throughout the year, supply chain challenges could persist. We reduced the position throughout the quarter and ultimately exited to consolidate our AI infrastructure exposure into higher-conviction opportunities.”
Modine Manufacturing Company - September 2026
“Modine is a global leader in thermal management. Quarterly revenue was in line with expectations, as supply chain issues prevented the company from shipping some orders at the end of the quarter. Margins were weaker than expected as these disruptions limited the company’s ability to operate its plants efficiently. While Modine expects margins to improve throughout the year, supply chain challenges could linger. We continued to pare back our CropSM investment campaign during the quarter, ahead of and following its quarterly report. Ahead of the report, we saw cautionary data points across the data center hardware ecosystem and, for Modine specifically, signs of product availability issues in its supply chain. We continued to HarvestSM the position following the report as those concerns persisted.”
Modine Manufacturing Company - September 2026
“Our biggest detractors during Q3 were Modine Manufacturing, RBC Bearings and Compass. Modine is a global leader in thermal management. Quarterly revenue was in line with expectations, as supply chain issues prevented the company from shipping some orders at the end of the quarter. Margins were weaker than expected as these disruptions limited the company’s ability to operate its plants efficiently. While Modine expects margins to improve throughout the year, supply chain challenges could persist. We reduced the position throughout the quarter and ultimately exited to consolidate our AI infrastructure exposure into higher-conviction opportunities.”
Modine Manufacturing Company - September 2026
“Modine provides cooling systems for data centers and heating and air-conditioning equipment for commercial buildings.”
Modine Manufacturing Company - September 2026
“3Q26 Contributors 3Q26 Detractors 1. Magnite, Inc. (Comm. Services, Core Growth) 2. Porch Group (Financials, Pioneer) 3. Chime Financial (Financials, Core Growth) 4. SI-BONE, Inc. (Health Care, Pioneer) 5. SharkNinja, Inc. (Consumer Disc., Core Growth) 1. Indie Semiconductor (Info. Tech., Special Situation) 2. Nextpower Inc. (Industrials, Core Growth) 3. FTAI Aviation Ltd. (Industrials, Core Growth) 4. Modine Manufacturing (Industrials, Core Growth) 5. Capstone Energy (Industrials, Special Situations)”
Modine Manufacturing Company - September 2026
“During Q3 we reduced direct AI infrastructure exposure where stocks had run ahead of fundamentals on an expected return basis. For example, we cut Forgent (FPS), TTM Technologies (TTMI) and Onto Innovation (ONTO), and exited Modine (MOD).”
Modine Manufacturing Company - September 2026
“4. Modine Manufacturing (Industrials, Core Growth)”
Modine Manufacturing Company - September 2026
“Modine is the clearest example of an operating shortfall within that group.”
Modine Manufacturing Company - ExitedNext century growth investor Growth StrategiesSeptember 2026
“We sold 10 positions to zero in Q3: o four in industrials: MOD, AAON, EQPT, PL”
Modine Manufacturing Company - September 2026
“Modine Manufacturing (MOD): We exited Modine in early July, first trimming the position and then selling the remainder.”
Modine Manufacturing Company - 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 Company - 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 Company - 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 Company - 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 Company - June 2026
“Modine Manufacturing Co. Core Growth 3.5% Nextpower Inc.”
Modine Manufacturing Company - 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 Company - HoldsBridge City Capital Small Cap Growth CompositeJune 2026
Listed in Bridge City Capital Small Cap Growth Composite’s reported holdings.
Modine Manufacturing Company - 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).”
Modine Manufacturing Company - 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 Company - March 2026
“During the quarter, shares contributed positively to performance as the company announced a definitive agreement to spin off its Performance Technologies segment, allowing Modine to focus entirely on its higher-growth Climate Solutions business, which is dedicated to data center cooling and commercial HVAC.”
Modine Manufacturing Company - New positionPlatinium Asset ManagementDecember 2025
“• We bought a 4% position in Modine Manufacturing which sells high-performance chillers and cooling solutions for datacentres.”
Modine Manufacturing Company - September 2025
“Among our top contributors were Lattice Semiconductor, Modine and Insmed.”
Modine Manufacturing Company - September 2025
“Modine Manufacturing Company (MOD) was the top contributor in the SMID Cap strategy during the third quarter. MOD is a leading thermal management company and since initiating the position earlier this year, the demand outlook for AI datacenters has increased dramatically, driving increased demand for Modine’s cooling equipment.”
Modine Manufacturing Company - New positionChoice Equities CMJune 2025
“Since our introduction of this new holding last quarter, Modine Manufacturing Company (MOD) has continued to execute effectively under CEO Neil Brinker’s leadership”
Modine Manufacturing Company - New positionSouthersun Smid Cap InvestmentMarch 2025
“We initiated one new position in Modine Manufacturing Company (MOD) in the SMID Cap Composite.”
Modine Manufacturing Company - New positionSouthersun Small Cap InvestmentMarch 2025
“We initiated two new positions in Extreme Networks, Inc. (EXTR) and Modine Manufacturing Company (MOD) in the Small Cap Strategy.”
Modine Manufacturing Company
Fund coverage · 5 theses
- Alger Mid Cap Focus FundSeptember 2026
Modine Manufacturing Company supplies data center cooling systems and is supported by strong demand, a robust order pipeline, and long-term cooling needs.
Read the full thesis - Argent Capital Management Focused Small Cap StrategySeptember 2026
Modine Manufacturing Company supplies thermal management solutions for data centers, with rapid data center growth and maintained outlook supporting the long-term case despite execution volatility.
Read the full thesis - 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.
Read the full thesis
Read every full thesis on Modine Manufacturing Company
Read all 5 theses in full, with each fund's reasoning, and get unlimited access to the archive.
View plans→