Jackson Square Partners, LLC increased its position in AAON by 88,516 shares, worth $9.16 million, representing a 2.93% rise in asset value. Post-trade, they hold 133,734 shares valued at $12.50 million, making AAON their 4th-largest holding at 5.05% of assets under management.

The firm actively managed its portfolio, reducing semiconductor stocks while increasing exposure to AAON. AAON manufactures commercial HVAC equipment, serving various sectors in the US and Canada. Amidst concerns of an overvalued market, the move to AAON suggests a shift to more reasonably valued stocks.

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Read more at Nasdaq: Jackson Square Buys 89,000 shares of HVAC Company AAON (Nasdaq: AAON) While Selling Nvidia