55 investment ideas from 40 funds across 34 stocks. Every thesis and quote on this page comes from a fund manager's own investor letter, not a 13F filing, so you can see the reasoning, risks and conviction behind each Defense & Aerospace position.
LongBBD.B
Bombardier is benefiting from healthy demand for business jets. Its growing services operation carries higher margins and improves the quality of the earnings mix. Continued progress reducing debt further strengthens Bar
LongHWM
Howmet Aerospace gives Barometer exposure to the strong commercial aerospace cycle. High utilization of the global aircraft fleet is supporting a robust aftermarket for engine parts. That environment is driving recurring
LongGE
GE Aerospace is benefiting from favorable aerospace industry fundamentals. The fund argues that capital alone cannot quickly repair the damage to aerospace production infrastructure, leaving capacity constrained while de
LongRR.L
Rolls-Royce is positioned to benefit from favorable aerospace fundamentals. The fund believes the aerospace production infrastructure suffered damage that cannot be rapidly repaired simply by deploying additional capital
Long2474.TWAug 2026
Catcher Technology maintains a substantial net cash position, providing financial flexibility as the company evolves beyond its traditional consumer electronics business. Management is targeting diversification into high
LongDEZAug 2026
DEUTZ is diversifying beyond its traditional off-highway engine business into energy and defence, areas the managers believe offer higher growth potential. Its shares were helped by shareholder approval of the acquisitio
LongFTCJul 2026
Filtronic is viewed as a monopolistic supplier to SpaceX whose shares had fallen roughly 50% from their May high. Its new factory is designed to support more than £200 million of annual revenue, and the fund models full
LongSPCXJul 2026
The fund views SpaceX as one of the closest examples of enduring monopolistic positioning in the modern market. At month-end, the shares traded at 23.1x consensus 2028 earnings despite consensus expectations for 87% reve
LongSATSJul 2026
EchoStar provides the fund with additional indirect exposure to SpaceX. After a 25% decline during the year, the manager's sum-of-the-parts work indicated that EchoStar's market capitalization was below the value of its
LongKALUJun 2026
Kaiser benefited from favorable metal pricing, better mix, and significant operating improvements, allowing management to raise guidance. Aerospace shipments are strengthening as aircraft production recovers and industry
LongRALJun 2026
Ralliant's first-quarter results helped restore investor confidence after an earlier earnings outlook disappointed the market. Both business segments delivered double-digit organic revenue growth. Military demand, includ
LongRALJun 2026
Ralliant supplies sensors and test-and-measurement systems to military and industrial customers. Strong first-quarter results restored investor confidence after a weaker outlook earlier in the year, and both segments pos
“Bombardier advanced on healthy business jet demand and a growing, higher-margin services franchise.”
“high utilization of the global fleet continues to drive demand for spares and maintenance.”
“Rolls-Royce and GE Aerospace continued to benefit from favorable aerospace fundamentals”
“Rolls-Royce and GE Aerospace continued to benefit from favorable aerospace fundamentals”
“Catcher continues to maintain a substantial net cash position and has reiterated expectations to diversify beyond its traditional consumer electronics business into higher-margin businesses such as medical devices, semiconductors and aerospace.”
“The German off-highway engine manufacturer has been diversifying into the energy and defence sectors, which we think offer higher growth potential.”