FTAI Aviation Ltd. (FTAI) Rose on Effective Commercialization
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q3 2023, US stocks fell by 3%, bringing YTD gains to around 12% as measured by the Russell 3000 Index. The portfolio trailed the Russell 2000 Index in Q3 and returned -5.62% bringing the YTD returns to 6.70%. Relative weakness in consumer discretionary holdings, industrials, and technology impacted the performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like FTAI Aviation Ltd. (NASDAQ:FTAI) in the third quarter 2023 investor letter. Headquartered in New York, New York, FTAI Aviation Ltd. (NASDAQ:FTAI) acquires and manages transportation infrastructure and equipment that operates through Aviation Leasing and Aerospace Products. On November 8, 2023, FTAI Aviation Ltd. (NASDAQ:FTAI) stock closed at $39.83 per share. One-month return of FTAI Aviation Ltd. (NASDAQ:FTAI) was 10.21%, and its shares gained 121.28% of their value over the last 52 weeks. FTAI Aviation Ltd. (NASDAQ:FTAI) has a market capitalization of $3.973 billion.
Diamond Hill Small Cap Fund made the following comment about FTAI Aviation Ltd. (NASDAQ:FTAI) in its Q3 2023 investor letter:
"Other top individual contributors in Q3 included Centrus Energy, Live Oak Bancshares and FTAI Aviation Ltd. (NASDAQ:FTAI) infrastructure company. FTAI Aviation is effectively commercializing its solutions to service CFM56 engines quickly and cheaply — a valuable customer proposition in a service capacity-constrained world."
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FTAI Aviation Ltd. (NASDAQ:FTAI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held FTAI Aviation Ltd. (NASDAQ:FTAI) at the end of second quarter which was 28 in the previous quarter.
We discussed FTAI Aviation Ltd. (NASDAQ:FTAI) in another article and shared Tourlite Capital Management's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
