Published on 29 Jan 2024 on Insider Monkey via Yahoo Finance
Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund was up 11.04% in 2023 compared to the S&P Small Cap 600 TR benchmark's 16.05% return, and the Morningstar U.S. Fund Small Blend's 16.03% gain. The performance of various sectors varied throughout the year, with several sectors experiencing increased volatility. The Fund's year-to-date underperformance compared to the benchmark can be attributed primarily to the strong performance of the Consumer Discretionary sector, in which the Fund has a significant underweight position. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mairs & Power Small Cap Fund featured stocks such as Gentherm Incorporated (NASDAQ:THRM) in the fourth quarter 2023 investor letter. Headquartered in Northville, Michigan, Gentherm Incorporated (NASDAQ:THRM) designs, develops, manufactures, and markets thermal management technologies. On January 31, 2024, Gentherm Incorporated (NASDAQ:THRM) stock closed at $48.15 per share. One-month return of Gentherm Incorporated (NASDAQ:THRM) was -3.60%, and its shares lost 34.92% of their value over the last 52 weeks. Gentherm Incorporated (NASDAQ:THRM) has a market capitalization of $1.579 billion.
Mairs & Power Small Cap Fund stated the following regarding Gentherm Incorporated (NASDAQ:THRM) in its fourth quarter 2023 investor letter: