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Here’s Why FTAI Aviation Ltd. (FTAI) is Executing Well

Soumya Eswaran
·2-min read

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The market delivered positive returns in a volatile first quarter across most regions. Diamond Hill Small Cap Fund outperformed its benchmark, the Russell 2000 Index, in Q1 and returned 7.11% while the benchmark return was 5.18% during the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.

Diamond Hill Small Cap Fund featured stocks like FTAI Aviation Ltd. (NASDAQ:FTAI) in the first quarter 2024 investor letter. Headquartered in New York, New York, FTAI Aviation Ltd. (NASDAQ:FTAI) acquires and manages transportation infrastructure and equipment operating through Aviation Leasing and Aerospace Products.  On May 13, 2024, FTAI Aviation Ltd. (NASDAQ:FTAI) stock closed at $77.65 per share. One-month return of FTAI Aviation Ltd. (NASDAQ:FTAI) was 8.52%, and its shares gained 175.02% of their value over the last 52 weeks. FTAI Aviation Ltd. (NASDAQ:FTAI) has a market capitalization of $7.798 billion.

Diamond Hill Small Cap Fund stated the following regarding FTAI Aviation Ltd. (NASDAQ:FTAI) in its first quarter 2024 investor letter:

"Other top Q1 contributors included FTAI Aviation Ltd. (NASDAQ:FTAI), UFP Technologies and Taseko Mines. Transportation infrastructure company FTAI Aviation is executing well in developing its narrowbody engine services business. In Q1, it announced service capability on the V2500 engine, in addition to the CFM56 engine — a development which highlights FTAI’s ability to participate over the long term in engine programs such as LEAP (leading edge aviation propulsion) and GTF (geared turbofan) and which should improve the sustainability of the company’s engine service business."

A team of airline employees surrounded by flight deck controls, with a variety of aircraft outside.

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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, 25 hedge fund portfolios held FTAI Aviation Ltd. (NASDAQ:FTAI) at the end of the fourth quarter which was 29 in the previous quarter.

We discussed FTAI Aviation Ltd. (NASDAQ:FTAI) in another article and shared Tourlite Capital Management's positive outlook on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.