Mairs & Power, an investment advisor, released “Mairs & Power Small Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund was up 0.83% compared to a 2.57% return for the S&P Small Cap 600 TR benchmark and the Morningstar U.S. Fund Small Blend’s 3.17% return. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mairs & Power Small Cap Fund highlighted stocks like AAR Corp. (NYSE:AIR) in the first quarter 2023 investor letter. Headquartered in Wood Dale, Illinois, AAR Corp. (NYSE:AIR) is a products and services provider to commercial aviation, government, and defense markets. On June 13, 2023, AAR Corp. (NYSE:AIR) stock closed at $56.09 per share. One-month return of AAR Corp. (NYSE:AIR) was 6.57%, and its shares gained 30.17% of their value over the last 52 weeks. AAR Corp. (NYSE:AIR) has a market capitalization of $1.947 billion.
Mairs & Power Small Cap Fund made the following comment about AAR Corp. (NYSE:AIR) in its first quarter 2023 investor letter:
“Finally, AAR Corp. (NYSE:AIR) in Industrials, an Illinois-based provider of aviation services, outperformed as the corporate and government travel improved, and with new growth synergy opportunities related to a recent software acquisition.”
Ruslans Golenkovs/Shutterstock.com
AAR Corp. (NYSE:AIR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held AAR Corp. (NYSE:AIR) at the end of first quarter 2023 which was 20 in the previous quarter.
We discussed AAR Corp. (NYSE:AIR) in another article and shared the list of best small-cap defense stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Top 20 Mining Countries in the World
- 15 Most Profitable Drugs In The World
- 16 Least Profitable Industries in the US
Disclosure: None. This article is originally published at Insider Monkey.