Artisan Global Discovery Fund on Modine Manufacturing Company
Thesis
Modine Manufacturing is a global thermal-management company with strong growth in its data-center business. Recent quarterly results were mixed because temporary supply-chain disruptions offset that growth and pressured margins. Management maintained full-year guidance and expects profitability to improve as supply constraints ease and production ramps. The fund trimmed the holding to manage near-term execution risk and consolidate its AI-infrastructure exposure into higher-conviction opportunities.
“expects improving profitability as supply chain constraints ease and production ramps.”
Key risks
- Temporary supply chain disruptions pressured margins
- Near-term execution risk