at the federated Kaufmann fund in Pittsburgh ($6.3 billion in assets), portfolio manager
and the team pore over below-radar midcaps. opportunities abound in iT, health care and industrials. Those make up 75% of the portfolio, which has returned 27% in the last year.
Maker of hot runner systems for injectionmolding machines used for iPhones and more. stagnant on the nYse since its 2015 listing, but Denichilo likes its doubledigit organic growth and 12-times-earnings valuation.
family-owned maker of airplane parts. Packed, always-going planes spur demand; this “freecash-flow machine,” in Denichilo’s words, has returned an average 23% annually over a decade.
Dominant in what Denichilo calls the “amazon-proof” business of selling paint. organic sales rose 6% last year; recently closed acquisition of coatings powerhouse valspar adds global reach, commercial customers— and surging profits.