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We extend the style investment literature by using style stock selection methods to investigate the aftermarket performance of initial public offerings (IPOs). Holding period returns for value versus growth IPOs, small-cap versus large-cap IPOs, and IPOs marketed by high-quality underwriters versus those marketed by low-quality underwriters are compared. Several conclusions emerge from the comparison of returns of these style portfolios after controlling for risk. First, value and growth IPOs do not exhibit statistically significant differences in returns for all holding periods. Second, the large-cap IPO portfolio outperforms the small-cap portfolio for up to 4-year holding periods. Third, IPOs sponsored by high-quality underwriters provide significantly higher returns than IPOs marketed by low-quality underwriters. However, after controlling for the quality of the underwriter, value and small-cap IPOs marketed by prestigious underwriters provide significantly higher and positive aftermarket returns. [ABSTRACT FROM AUTHOR]