Huntington Ingalls Industries (HII)


Market Price (10/30/2026): $316.48 | Market Cap: $12.5 BilInvestor Relations Sector: Industrials | Industry: Aerospace & Defense

Huntington Ingalls Industries (HII)


Market Price (10/30/2026): $316.48
Market Cap: $12.5 Bil
Sector: Industrials
Industry: Aerospace & Defense

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%

Low stock price volatility
Vol 12M is 40%

Megatrend and thematic drivers
Megatrends include Cybersecurity, Advanced Aviation & Space, and Datacenter Power. Themes include Network Security, Show more.

Weak multi-year price returns
2Y Excs Rtn is -3.8%, 3Y Excs Rtn is -25%

Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x

Key risks
HII key risks include [1] a heavy dependence on the timing and funding of U.S. Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.0%
1 Low stock price volatility
Vol 12M is 40%
2 Megatrend and thematic drivers
Megatrends include Cybersecurity, Advanced Aviation & Space, and Datacenter Power. Themes include Network Security, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -3.8%, 3Y Excs Rtn is -25%
4 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 36x
5 Key risks
HII key risks include [1] a heavy dependence on the timing and funding of U.S. Show more.

HII in ETFs

Weight = HII's share of each fund

SPY0.02%
VOO0.02%
IVV0.02%
VTI0.01%
ITOT0.01%
IWB0.02%
RSP0.19%
VIG0.05%
+29 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/29/2026

Huntington Ingalls Industries (HII) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Exceptional Fiscal Q3 2026 Earnings and Raised Guidance.

Huntington Ingalls Industries significantly surpassed analyst expectations in its fiscal Q3 2026, reported on October 29, 2026. The company posted diluted earnings per share (EPS) of $5.48, a substantial 25.7% beat over the consensus estimate of $4.36, and generated revenue of $3.54 billion, exceeding estimates by $159.50 million and representing a 10.8% year-over-year increase. This strong performance led the company to raise its fiscal year 2026 shipbuilding revenue guidance for the second time in the period, moving it to a range of $10.5 billion to $10.7 billion, up from $10.2 billion to $10.4 billion after fiscal Q2 2026. HII also improved its Mission Technologies operating margin outlook to approximately 6% from about 5%.

2. Record-Breaking Contract Awards and Substantial Backlog.

The company secured an unprecedented $32.4 billion in new contract awards during fiscal Q3 2026, which is the largest quarterly haul in its history. These awards included major programs such as the Block VI Virginia-class and Build II Columbia-class submarine contracts. This influx of new business expanded HII's total backlog to a robust $86.2 billion, effectively securing approximately 90% of its expected shipbuilding revenue through fiscal 2030. This long-term revenue visibility significantly enhanced investor confidence in the company's future stability and growth.

Show more
Updated on 10/29/2026

Huntington Ingalls Industries (HII) stock has gained about 15% since 6/30/2026 because of the following key factors:

1. Exceptional Fiscal Q3 2026 Earnings and Raised Guidance.

Huntington Ingalls Industries significantly surpassed analyst expectations in its fiscal Q3 2026, reported on October 29, 2026. The company posted diluted earnings per share (EPS) of $5.48, a substantial 25.7% beat over the consensus estimate of $4.36, and generated revenue of $3.54 billion, exceeding estimates by $159.50 million and representing a 10.8% year-over-year increase. This strong performance led the company to raise its fiscal year 2026 shipbuilding revenue guidance for the second time in the period, moving it to a range of $10.5 billion to $10.7 billion, up from $10.2 billion to $10.4 billion after fiscal Q2 2026. HII also improved its Mission Technologies operating margin outlook to approximately 6% from about 5%.

2. Record-Breaking Contract Awards and Substantial Backlog.

The company secured an unprecedented $32.4 billion in new contract awards during fiscal Q3 2026, which is the largest quarterly haul in its history. These awards included major programs such as the Block VI Virginia-class and Build II Columbia-class submarine contracts. This influx of new business expanded HII's total backlog to a robust $86.2 billion, effectively securing approximately 90% of its expected shipbuilding revenue through fiscal 2030. This long-term revenue visibility significantly enhanced investor confidence in the company's future stability and growth.

3. Strong Free Cash Flow Generation and Operational Execution.

Huntington Ingalls Industries demonstrated significant financial strength with a substantial improvement in free cash flow, which reached $429 million in fiscal Q3 2026, a notable increase from $16 million in the prior-year period. This was driven by a robust operating cash flow of $520 million, up from $118 million a year earlier. Operationally, the Newport News Shipbuilding division achieved an 18.1% year-over-year revenue increase to $1.91 billion in fiscal Q3, primarily due to higher volumes in submarine and aircraft carrier programs, as well as favorable contract adjustments and incentives. This indicated strong execution in core shipbuilding activities, contributing to overall positive market sentiment.

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Stock Movement Drivers

Fundamental Drivers

The 13.5% change in HII stock from 6/30/2026 to 10/29/2026 was primarily driven by a 6.5% change in the company's Net Income Margin (%).
(LTM values as of)630202610292026Change
Stock Price ($)278.59316.2113.5%
Change Contribution By: 
Total Revenues ($ Mil)12,84913,1852.6%
Net Income Margin (%)4.7%5.0%6.5%
P/E Multiple18.118.94.4%
Shares Outstanding (Mil)3940-0.5%
Cumulative Contribution13.5%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/29/2026
ReturnCorrelation
HII13.5% 
Market (SPY)3.0%17.4%
Sector (XLI)-8.2%36.0%

Fundamental Drivers

The -16.0% change in HII stock from 3/31/2026 to 10/29/2026 was primarily driven by a -22.7% change in the company's P/E Multiple.
(LTM values as of)331202610292026Change
Stock Price ($)376.51316.21-16.0%
Change Contribution By: 
Total Revenues ($ Mil)12,48413,1855.6%
Net Income Margin (%)4.8%5.0%3.4%
P/E Multiple24.518.9-22.7%
Shares Outstanding (Mil)3940-0.5%
Cumulative Contribution-16.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/29/2026
ReturnCorrelation
HII-16.0% 
Market (SPY)18.6%12.1%
Sector (XLI)5.5%27.0%

Fundamental Drivers

The 11.7% change in HII stock from 9/30/2025 to 10/29/2026 was primarily driven by a 14.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510292026Change
Stock Price ($)283.20316.2111.7%
Change Contribution By: 
Total Revenues ($ Mil)11,56913,18514.0%
Net Income Margin (%)4.5%5.0%10.5%
P/E Multiple21.318.9-11.1%
Shares Outstanding (Mil)3940-0.3%
Cumulative Contribution11.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/29/2026
ReturnCorrelation
HII11.7% 
Market (SPY)16.4%22.7%
Sector (XLI)11.3%39.9%

Fundamental Drivers

The 64.4% change in HII stock from 9/30/2023 to 10/29/2026 was primarily driven by a 28.4% change in the company's P/E Multiple.
(LTM values as of)930202310292026Change
Stock Price ($)192.32316.2164.4%
Change Contribution By: 
Total Revenues ($ Mil)10,89913,18521.0%
Net Income Margin (%)4.8%5.0%5.1%
P/E Multiple14.718.928.4%
Shares Outstanding (Mil)40400.8%
Cumulative Contribution64.4%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/29/2026
ReturnCorrelation
HII64.4% 
Market (SPY)86.2%26.5%
Sector (XLI)74.5%40.1%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
HII Return12%26%15%-26%84%-17%86%
Peers Return17%29%-4%18%29%5%131%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
HII Win Rate58%50%50%33%67%40% 
Peers Win Rate57%62%48%60%63%52% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
HII Max Drawdown-20%-14%-16%-37%-23%-43% 
Peers Max Drawdown-16%-17%-24%-18%-16%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: GD, NOC, LMT, RTX, LDOS. See HII Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/29/2026 (YTD)

How Low Can It Go

EventHIIS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-13.0%-9.5%
  % Gain to Breakeven15.0%10.5%
  Time to Breakeven28 days24 days
2023 SVB Regional Banking Crisis
  % Loss-11.5%-6.7%
  % Gain to Breakeven13.0%7.1%
  Time to Breakeven35 days31 days
2020 COVID-19 Crash
  % Loss-34.4%-33.7%
  % Gain to Breakeven52.4%50.9%
  Time to Breakeven757 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-31.3%-19.2%
  % Gain to Breakeven45.6%23.8%
  Time to Breakeven325 days105 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-13.1%-12.2%
  % Gain to Breakeven15.1%13.9%
  Time to Breakeven32 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-32.6%-17.9%
  % Gain to Breakeven48.4%21.8%
  Time to Breakeven98 days123 days

Compare to GD, NOC, LMT, RTX, LDOS

In The Past

Huntington Ingalls Industries's stock fell -2.9% during the 2025 US Tariff Shock. Such a loss loss requires a 2.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventHIIS&P 500
2020 COVID-19 Crash
  % Loss-34.4%-33.7%
  % Gain to Breakeven52.4%50.9%
  Time to Breakeven757 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-31.3%-19.2%
  % Gain to Breakeven45.6%23.8%
  Time to Breakeven325 days105 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-32.6%-17.9%
  % Gain to Breakeven48.4%21.8%
  Time to Breakeven98 days123 days

Compare to GD, NOC, LMT, RTX, LDOS

In The Past

Huntington Ingalls Industries's stock fell -2.9% during the 2025 US Tariff Shock. Such a loss loss requires a 2.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Huntington Ingalls Industries (HII)

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Huntington Ingalls Industries (HII) stands as the largest military shipbuilder in the United States, specializing in the design, construction, overhaul, and repair of a diverse fleet of vessels. The company's operations are divided into three main segments: Ingalls Shipbuilding, Newport News Shipbuilding, and Technical Solutions, all contributing to critical defense capabilities for the nation.

HII is a primary contractor for the U.S. Navy and U.S. Coast Guard, building a range of non-nuclear ships including amphibious assault ships, expeditionary warfare ships, surface combatants, and national security cutters. In its nuclear-powered shipbuilding division, HII is the exclusive builder of nuclear-powered aircraft carriers and a major builder of nuclear submarines. It also provides essential refueling, overhaul, and inactivation services for these complex nuclear vessels, along with naval nuclear support services for in-service U.S. Navy ships and nuclear reactor prototypes.

Beyond shipbuilding, HII's Technical Solutions segment offers a broad array of services. These include life-cycle sustainment services for the U.S. Navy fleet and other maritime customers, high-end information technology and mission-based solutions for Department of Defense, intelligence, and federal civilian customers, and the development of unmanned systems. Additionally, the company provides nuclear management and operations, and environmental management services for the Department of Energy, other government agencies, and private sector companies, solidifying its role as a diversified defense and national security solutions provider.

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AI Analysis | Feedback

Here are 1-3 brief analogies for Huntington Ingalls Industries (HII):

  • Lockheed Martin for military ships
  • Boeing for naval vessels

AI Analysis | Feedback

  • Non-Nuclear Military Ships: Designs, builds, overhauls, and repairs various non-nuclear military vessels, including amphibious assault ships, expeditionary warfare ships, surface combatants, and national security cutters.
  • Nuclear-Powered Military Ships: Designs, builds, overhauls, and repairs nuclear-powered aircraft carriers and submarines for the U.S. Navy.
  • Ship Lifecycle Support Services: Provides refueling, overhaul, inactivation, and general life-cycle sustainment services for military ships and maritime customers.
  • Naval Nuclear Support Services: Offers specialized design, construction, maintenance, and disposal activities for in-service U.S. Navy nuclear ships and nuclear reactor prototypes.
  • Unmanned Systems: Develops and provides unmanned systems for various defense and maritime applications.
  • Information Technology & Mission Solutions: Delivers high-end information technology and mission-based solutions for defense, intelligence, and federal civilian customers.
  • Nuclear & Environmental Management Services: Provides nuclear management and operations, and environmental management services for government and private sector clients.

AI Analysis | Feedback

Major Customers of Huntington Ingalls Industries (HII)

Huntington Ingalls Industries (HII) primarily serves various agencies and branches of the United States government. Its major customers include:

  • U.S. Navy (for designing, building, overhauling, and repairing military ships; providing nuclear-powered ships, refueling, overhaul, and inactivation services; offering naval nuclear support services; and delivering life-cycle sustainment services)
  • U.S. Coast Guard (for the design and construction of national security cutters)
  • Department of Defense (DoD) (for high-end information technology and mission-based solutions, including intelligence and federal civilian customers, as well as nuclear management and operations and environmental management services)
  • Department of Energy (DoE) (for nuclear management and operations and environmental management services)
  • State and local governments (for nuclear management and operations and environmental management services)
  • Private sector companies (for nuclear management and operations and environmental management services)

AI Analysis | Feedback

Major Suppliers of Huntington Ingalls Industries (HII):

  • Lockheed Martin Corporation (LMT)
  • RTX Corporation (RTX)
  • L3Harris Technologies, Inc. (LHX)
  • General Electric Company (GE)
  • BAE Systems plc (BAESY)

AI Analysis | Feedback

Christopher D. Kastner, President and Chief Executive Officer

Christopher D. Kastner was appointed President and Chief Executive Officer of HII in March 2022. Prior to this role, he served as HII's Chief Operating Officer from February 2021 and as Executive Vice President and Chief Financial Officer since March 2016. Before joining HII (which was spun off from Northrop Grumman in 2011), Mr. Kastner held various positions at Northrop Grumman, including vice president, business management, and CFO for Northrop Grumman Shipbuilding-Gulf Coast, and vice president, contracts and risk management, for Northrop Grumman Ship Systems. He also served as corporate director of strategic transactions for Northrop Grumman. Mr. Kastner is a board member of New York Life Insurance Company.

Thomas E. Stiehle, Executive Vice President and Chief Financial Officer

Thomas E. Stiehle was promoted to Executive Vice President and Chief Financial Officer of HII in February 2021. He previously served as vice president and CFO at HII's Ingalls Shipbuilding division from 2012 to 2021. Before that, he was vice president, contracts and pricing for Ingalls. Prior to joining HII in 2011, Mr. Stiehle worked for Northrop Grumman, Aerospace Sector, for 24 years, beginning his career as a design engineer at Grumman Aircraft Corp. He held increasing responsibilities in business management, including contracts and pricing manager, business manager, and director of business management.

Edmond E. Hughes, Executive Vice President and Chief Human Resources Officer

Edmond E. Hughes was promoted to Executive Vice President and Chief Human Resources Officer in February 2022. Before this, he served as vice president of human resources and administration contracts at HII's Ingalls Shipbuilding division and at Northrop Grumman Shipbuilding since 2006. Mr. Hughes previously led human resources at General Motors and TRW Automotive.

Kari Wilkinson, Executive Vice President and President, Newport News Shipbuilding

Kari Wilkinson was named President of Newport News Shipbuilding on January 1, 2025. She previously served as President of HII's Ingalls Shipbuilding division.

Brian Blanchette, Executive Vice President and President, Ingalls Shipbuilding

Brian Blanchette began serving as President of Ingalls Shipbuilding and Vice President of HII on January 1, 2025. Prior to this role, he was the vice president of quality at Ingalls from 2021 to 2024. As president, he is responsible for all programs and operations at Ingalls.

AI Analysis | Feedback

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Huntington Ingalls Industries (HII) faces several key risks inherent to its business as a predominant military shipbuilder for the U.S. government.

  1. Reliance on U.S. Government Contracts and Associated Risks: HII is almost entirely dependent on the U.S. government, primarily the U.S. Navy and U.S. Coast Guard, for its revenue. This dependence exposes the company to risks such as government budgetary constraints, shifts in defense spending priorities, and changes in customer requirements. Delays in government appropriations or the final award of major contracts can create cash flow headwinds. A significant portion of HII's contracts are fixed-price, which makes the company vulnerable to cost overruns if actual costs exceed pricing assumptions due to factors like inflation, supply chain disruptions, and workforce challenges. This can lead to compressed margins.
  2. Workforce Shortages and Rising Labor Costs: The naval shipbuilding industry, including HII, is experiencing acute workforce shortages, exacerbated by the retirement of skilled workers and increasing demand. These shortages and a lowered experience level among its workforce have led to performance challenges, including increased rework and delays in projects like aircraft carrier construction. The company also faces the risk of increased labor costs, as evidenced by recent collective bargaining agreements that included significant wage increases, which could pressure margins if not offset by corresponding productivity and schedule gains.
  3. Supply Chain Disruptions and Rising Material Costs: HII is susceptible to supply chain disruptions and escalating material costs, which can significantly impact project timelines and contract profitability. The company's reliance on a high percentage of single or sole-source suppliers, particularly for its Newport News segment, amplifies this risk. Such disruptions have already led to hampered performance and lower financial guidance in previous periods. HII is actively working on a supply chain roadmap to mitigate these risks, but they remain a persistent challenge.
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AI Analysis | Feedback

Huntington Ingalls Industries (HII) operates in several key markets, primarily serving the U.S. government. The addressable market sizes for its main products and services are detailed below:

Military Shipbuilding (U.S.)

  • The North America naval vessels market is estimated at approximately $22.03 billion in 2025 and is expected to reach about $45.67 billion by 2030, growing at a compound annual growth rate (CAGR) of 15.7% during this period.
  • The global naval shipbuilding market was valued at $104.74 billion in 2026 and is projected to reach $128.07 billion by 2035, with a CAGR of 2.26%. The U.S. naval shipbuilding market accounts for nearly 32% of the total global shipbuilding capacity.
  • The U.S. Coast Guard's Procurement, Construction, and Improvements (PC&I) budget for recapitalizing legacy surface assets was $1.1 billion in the FY 2025 President's Budget, including $530 million for Offshore Patrol Cutters and $216 million for Fast Response Cutters. The FY 2026 President's Budget requests $1.44 billion for surface acquisitions to continue fleet recapitalization. Furthermore, $24.593 billion was provided for fiscal year 2025 for the U.S. Coast Guard to procure new operational assets and systems, maintain existing assets, and enhance infrastructure.

Ship Repair, Maintenance, and Modernization (U.S.)

  • The U.S. ship repair and maintenance services market was valued at $6.55 billion in 2025 and is projected to reach $11.72 billion by 2033, demonstrating a CAGR of 7.52%.
  • Globally, the ship repair and maintenance services market size was valued at $38.82 billion in 2025 and is projected to grow to $58.50 billion by 2034, with a CAGR of 4.80%. North America held a dominant share of 25.50% in this market in 2025, with its valuation at $9.9 billion in 2025 and $10.3 billion in 2026.
  • The global naval vessel Maintenance, Repair, and Overhaul (MRO) market is estimated at $61.38 billion in 2025, with projections to reach $73.66 billion by 2031, growing at a CAGR of 3.09%. Nuclear-powered vessels constituted 53.21% of the spending in this market in 2025.

High-End Information Technology and Mission-Based Solutions (U.S.)

  • The global defense IT spending market was valued at $100.6 billion in 2024 and is projected to reach $137.7 billion by 2033, at a CAGR of 3.55%. North America held the largest market share in this sector.
  • U.S. defense IT spending has been increasing and is expected to reach $38.7 billion by 2022. The U.S. defense IT sector is the largest globally due to significant investments.
  • Within the U.S. defense market, C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance) and electronic warfare segments together accounted for a 31.25% revenue share in 2025.

Nuclear Management and Operations and Environmental Management Services (U.S.)

  • The U.S. nuclear waste management market was valued at $1.23 billion in 2025 and is projected to reach approximately $1.47 billion by 2034, with a CAGR of 1.97%. North America held the largest market share globally for nuclear waste management, with a 35% share in 2024.
  • Globally, the nuclear waste management market was valued at $4.87 billion in 2024 and is projected to reach $5.87 billion by 2034. Another estimate places the global market at $8.25 billion in 2024, growing to $11.44 billion by 2032.
  • The U.S. federal government is anticipated to owe nuclear utility owners almost $62 billion by 2030 due to its failure to remove spent nuclear fuel.

Unmanned Systems (U.S.)

  • The U.S. unmanned systems market was valued at $9.22 billion in 2025 and is expected to reach $23.77 billion by 2035, growing at a CAGR of 9.94%.
  • The global unmanned systems market was estimated at $26.55 billion in 2024 and is projected to reach $48.31 billion by 2030, at a CAGR of 10.5%. North America accounted for over 45% of the global revenue share in 2024, with the U.S. dominating the North American market with over 65% share.
  • The military and law enforcement applications segment dominated the unmanned systems market in 2025 with a 67% revenue share.

AI Analysis | Feedback

Huntington Ingalls Industries (HII) is expected to experience future revenue growth over the next 2-3 years driven by several key factors:
  • Increased Shipbuilding Volumes: HII anticipates higher production volumes across its core shipbuilding programs. This includes amphibious assault ships and surface combatants at Ingalls Shipbuilding, and nuclear-powered aircraft carriers and submarines (such as Virginia-class and Columbia-class) at Newport News Shipbuilding.
  • Growth in Mission Technologies: The Mission Technologies segment is a significant driver, with expected growth in areas like warfare systems, global security, and unmanned systems. HII is a leading producer of unmanned underwater vehicles for the U.S. Navy.
  • Enhanced Shipbuilding Throughput and Operational Efficiency: HII is focused on improving its production speed and efficiency through workforce improvement initiatives, expanding its Charleston facility, and strategically utilizing contract labor to address critical gaps. The company achieved a 14% throughput improvement in 2025 and targets an additional 15% increase in 2026.
  • Strong Backlog and Continued Government Defense Spending: The company benefits from a substantial backlog and ongoing bipartisan congressional support for defense spending. This includes incremental and block-buy funding for major programs like aircraft carriers, Virginia- and Columbia-class submarines, and new frigate programs, contributing to predictable revenues. The current global security environment also underscores the demand for defense capabilities.
  • Expansion of International Presence: HII is looking to expand its international footprint, with the AUKUS security pact (Australia, UK, US) specifically identified as a potential growth catalyst.

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Share Repurchases

  • On January 31, 2024, Huntington Ingalls Industries (HII) authorized an increase in its share repurchase program from $3.2 billion to $3.8 billion and extended the term of the program to December 31, 2028.
  • HII did not repurchase any shares during 2025.

Outbound Investments

  • On August 19, 2021, HII completed the acquisition of Alion Science and Technology, a technology-driven solutions provider, which expanded HII's capabilities in areas such as ISR, military training and simulation, cyber, and data analytics.
  • On January 27, 2025, HII acquired an advanced manufacturing facility in South Carolina, establishing Newport News Shipbuilding (NNS) - Charleston Operations, to support the construction of nuclear-powered submarine modules and aircraft carrier units for U.S. Navy programs.

Capital Expenditures

  • In 2025, HII invested $396 million in capital expenditures, representing 3.2% of sales, with a primary focus on driving higher throughput in its shipyards and making over $400 million in overall capital improvements.
  • For 2026, HII expects capital expenditures to be approximately 4% to 5% of sales, translating to an estimated $500 million to $600 million, aimed at expanding yard capacity and throughput.
  • In 2024, capital expenditures were reported at $353 million, or 3.1% of sales.

Better Bets vs. Huntington Ingalls Industries (HII)

Peer Outperformance in Aerospace & Defense

HII has outperformed 53% of its 51 Aerospace & Defense peers over 5Y. Among the peers that beat it are ATI, MOG-A and CW. Aerospace & Defense ranks 4th of 23 industries in Industrials by median 5Y return.
Share of Aerospace & Defense constituents that HII has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
68%
of 68 industry peers · 7.7% return
3Y
41%
of 58 industry peers · 54.8% return
5Y
53%
of 51 industry peers · 73.7% return
Aerospace & Defense peers with revenue growth within 4pp of HII's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
HII Huntington Ingalls Industries 6.8% 18.9x 7.7%54.8%73.7% —
ATI ATI 4.6% 50.1x 69.9%364.6%987.0% +913pp
MOG-A Moog 10.4% 30.5x 73.2%225.5%400.3% +327pp
CW Curtiss-Wright 10.3% 33.9x -17.3%155.0%295.6% +222pp
DCO Ducommun 5.1% -84.5x 79.9%257.7%247.3% +174pp
LMT Lockheed Martin 5.4% 22.8x 36.0%56.4%121.4% +48pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Aerospace & Defense is HII's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Marine Transportation 5 62.2%61.7%164.2% MATX 190% · KEX 179%
Construction & Engineering 29 -9.1%124.5%157.5% STRL 1454% · FIX 1380% · AGX 842%
Construction Machinery & Heavy Transportation Equipment 13 6.7%60.8%105.7% ALSN 255% · CAT 244% · WAB 224%
Aerospace & Defense ← 52 -9.5%68.1%70.7% ATI 987% · FTAI 953% · HWM 604%
Trading Companies & Distributors 19 18.7%47.0%61.3% DXPE 435% · URI 228% · AIT 224%
Diversified Support Services 34 19.8%45.3%38.9% CXW 261% · OPLN 164% · CACI 134%
Industrial Machinery & Supplies & Components 72 3.4%55.2%37.8% CRS 919% · MLI 353% · SYM 274%
Electrical Components & Equipment 37 -8.1%92.5%36.3% POWL 2017% · VRT 862% · BE 611%
Rail Transportation 7 36.3%58.3%29.7% CSX 55% · UNP 40% · NSC 30%
Building Products 32 -4.3%20.3%23.7% GFF 371% · TT 154% · JCI 138%
Cargo Ground Transportation 16 31.9%6.8%9.3% R 273% · XPO 250% · ARCB 44%
Industrial Conglomerates 17 13.6%8.5%2.0% CSW 114% · DD 85% · CSL 76%
Security & Alarm Services 9 -51.0%25.8%-14.8% BCO 57%
Data Processing & Outsourced Services 6 -20.9%0.4%-17.2% EXLS 68% · BR 9% · G -15%
Agricultural & Farm Machinery 16 5.1%-5.6%-19.6% DE 106% · TTC 22% · AGCO 3%
Environmental & Facilities Services 29 -28.8%31.1%-22.4% GEO 249% · CLH 175% · RSG 87%
Office Services & Supplies 9 21.5%17.4%-22.5% PBI 189% · TILE 161% · HNI 52%
Research & Consulting Services 13 7.4%-14.4%-27.2% HURN 285% · FCN 26% · BAH 7%
Passenger Airlines 11 0.7%45.8%-31.5% LTM 2966% · UAL 128% · SKYW 124%
Passenger Ground Transportation 3 -22.2%53.8%-34.3% UBER 50% · CAR -34% · LYFT -64%
Air Freight & Logistics 12 -24.3%-8.2%-39.8% FDX 80% · EXPD 71% · CHRW 48%
Human Resource & Employment Services 22 17.5%-7.3%-42.9% ADP 42% · FA 25% · PAYX 3%
Airport Services 4 -53.6%-57.2%-85.9% JOBY -41%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

HIIGDNOCLMTRTXLDOSMedian
NameHuntingt.General .Northrop.Lockheed.RTX Leidos  
Mkt Price316.48375.55566.66647.09201.50140.87346.01
Mkt Cap12.5101.580.5149.2272.517.791.0
Rev LTM13,18554,86143,59179,11695,98717,63449,226
Op Inc LTM6475,6634,6259,31611,2992,0805,144
FCF LTM-856,4473,8298,3819,1272,1635,138
FCF 3Y Avg3074,2462,7166,4947,0461,6453,481
CFO LTM3477,7055,26610,11212,4352,3006,486
CFO 3Y Avg6885,2614,3158,26210,2361,8004,788

Growth & Margins

HIIGDNOCLMTRTXLDOSMedian
NameHuntingt.General .Northrop.Lockheed.RTX Leidos  
Rev Chg LTM14.0%9.1%6.5%7.9%11.6%3.4%8.5%
Rev Chg 3Y Avg6.8%10.3%4.1%5.4%12.7%5.9%6.3%
Rev Chg Q10.9%8.1%6.7%11.3%11.1%7.2%9.5%
QoQ Delta Rev Chg LTM2.6%2.0%1.6%2.7%2.7%1.8%2.3%
Op Inc Chg LTM38.0%9.4%12.9%52.8%28.2%2.9%20.5%
Op Inc Chg 3Y Avg17.8%10.3%10.0%8.3%53.2%21.9%14.1%
Op Mgn LTM4.9%10.3%10.6%11.8%11.8%11.8%11.2%
Op Mgn 3Y Avg5.2%10.2%9.2%10.7%10.0%11.2%10.1%
QoQ Delta Op Mgn LTM0.1%0.1%-0.1%-0.1%0.6%-0.4%-0.0%
CFO/Rev LTM2.6%14.0%12.1%12.8%13.0%13.0%12.9%
CFO/Rev 3Y Avg5.8%10.3%10.3%11.0%11.8%10.6%10.4%
FCF/Rev LTM-0.6%11.8%8.8%10.6%9.5%12.3%10.1%
FCF/Rev 3Y Avg2.7%8.3%6.4%8.7%8.1%9.7%8.2%

Valuation

HIIGDNOCLMTRTXLDOSMedian
NameHuntingt.General .Northrop.Lockheed.RTX Leidos  
Mkt Cap12.5101.580.5149.2272.517.791.0
P/S0.91.81.81.92.81.01.8
P/Op Inc19.317.917.416.024.18.517.7
P/EBIT13.317.513.717.121.88.815.4
P/E18.922.617.822.932.412.920.8
P/CFO36.013.215.314.821.97.715.0
Total Yield7.0%6.1%7.4%6.6%4.5%9.0%6.8%
Dividend Yield1.7%1.6%1.7%2.2%1.4%1.2%1.7%
FCF Yield 3Y Avg3.2%4.8%3.6%5.3%3.4%10.2%4.2%
D/E0.20.10.20.10.10.40.2
Net D/E0.20.10.20.10.10.30.1

Returns

HIIGDNOCLMTRTXLDOSMedian
NameHuntingt.General .Northrop.Lockheed.RTX Leidos  
1M Rtn21.9%13.5%12.3%26.3%7.8%14.4%14.0%
3M Rtn-0.6%-1.3%6.4%13.4%-5.7%25.7%2.9%
6M Rtn-12.3%10.1%-1.3%26.5%15.3%-5.0%4.4%
12M Rtn7.8%11.3%-1.6%36.8%16.0%-24.3%9.6%
3Y Rtn54.9%66.6%27.1%57.2%172.3%58.7%58.0%
1M Excs Rtn17.3%12.5%16.0%25.9%7.3%14.4%15.2%
3M Excs Rtn-6.0%-5.0%1.5%8.3%-9.5%18.9%-1.8%
6M Excs Rtn-19.8%2.6%-8.8%19.1%7.8%-12.4%-3.1%
12M Excs Rtn-4.8%-2.3%-15.7%24.2%1.9%-36.5%-3.5%
3Y Excs Rtn-25.3%-12.5%-58.4%-23.8%89.7%-22.2%-23.0%

Comparison Analyses

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Newport News6,5075,9696,1335,8525,663
Ingalls3,0782,7672,7522,5702,528
Mission Technologies3,0442,9372,6992,3871,476
Intersegment eliminations-145-138-130-133-143
Total12,48411,53511,45410,6769,524


Operating Income by Segment
$ Mil20252024202320222021
Newport News331246379357352
Ingalls233211362292281
Mission Technologies1531161016350
Intersegment eliminations0000 
Non-current state income taxes-252411-2-13
Operating Financial Accounting Standards (FAS) /Cost Accounting Standards (CAS) Adjustment-35-62-72-145-157
Total657535781565513


Assets by Segment
$ Mil20232022202120202019
Newport News4,6124,3444,1794,1243,886
Mission Technologies3,1613,3473,5531,3791,022
Corporate1,8231,5331,2361,042505
Ingalls1,6191,6331,6591,6121,618
Total11,21510,85710,6278,1577,031


Price Behavior

Price Behavior
Market Price$316.21 
Market Cap ($ Bil)12.5 
First Trading Date03/22/2011 
Distance from 52W High-29.7% 
   50 Days200 Days
DMA Price$277.56$333.88
DMA Trenddowndown
Distance from DMA13.9%-5.3%
 3M1YR
Volatility35.2%40.5%
Downside Capture68.1977.70
Upside Capture-28.4160.37
Correlation (S&P 500)-0.6%22.9%
HII Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.380.411.290.620.810.68
Up Beta2.050.262.121.151.130.74
Down Beta0.001.882.241.040.870.74
Up Capture-21%-31%65%-11%50%28%
Bmk +ve Days6162766132424
Stock +ve Days8142553125398
Down Capture131%154%101%91%83%83%
Bmk -ve Days16263760120328
Stock -ve Days14283973127354

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HII
HII7.5%40.5%0.27-
Sector ETF (XLI)11.0%17.2%0.4338.7%
Equity (SPY)13.0%12.7%0.6721.4%
Gold (GLD)1.2%28.4%0.0321.0%
Commodities (DBC)49.5%20.6%1.836.4%
Real Estate (VNQ)7.2%14.0%0.2520.6%
Bitcoin (BTCUSD)-29.5%43.4%-0.6919.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HII
HII10.8%32.7%0.36-
Sector ETF (XLI)11.9%17.6%0.5143.7%
Equity (SPY)12.6%17.1%0.5530.1%
Gold (GLD)17.2%18.9%0.7315.5%
Commodities (DBC)9.4%19.5%0.3614.5%
Real Estate (VNQ)1.0%18.9%-0.0629.0%
Bitcoin (BTCUSD)5.1%51.6%0.2813.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with HII
HII9.2%31.5%0.35-
Sector ETF (XLI)13.4%20.1%0.5855.0%
Equity (SPY)15.4%17.9%0.7342.5%
Gold (GLD)11.8%16.4%0.588.6%
Commodities (DBC)8.1%18.1%0.3620.5%
Real Estate (VNQ)5.2%20.7%0.2136.4%
Bitcoin (BTCUSD)62.3%66.2%1.0211.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity1.6 Mil
Short Interest: % Change Since 93020266.0%
Average Daily Volume0.5 Mil
Days-to-Cover Short Interest2.9 days
Basic Shares Quantity39.5 Mil
Short % of Basic Shares4.0%

Earnings Returns History

Updated 10/29/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/202614.1%13.3%6.0%
5/5/2026-10.2%-12.6%-20.5%
2/5/2026-10.6%-4.9%4.2%
10/30/20256.9%2.8%3.2%
7/31/20257.9%3.5%6.5%
5/1/2025-1.2%-0.1%-2.6%
2/6/2025-18.3%-16.4%1.0%
10/31/2024-26.2%-18.9%-20.4%
...
SUMMARY STATS   
# Positive101015
# Negative14149
Median Positive4.0%4.0%6.0%
Median Negative-4.2%-5.4%-7.3%
Max Positive14.1%13.3%17.0%
Max Negative-26.2%-18.9%-20.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/30/202614.1%13.3%6.0%
5/5/2026-10.2%-12.6%-20.5%
2/5/2026-10.6%-4.9%4.2%
10/30/20256.9%2.8%3.2%
7/31/20257.9%3.5%6.5%
5/1/2025-1.2%-0.1%-2.6%
2/6/2025-18.3%-16.4%1.0%
10/31/2024-26.2%-18.9%-20.4%
8/1/2024-4.6%-9.5%1.0%
5/2/2024-11.5%-10.9%-8.2%
2/1/20243.4%6.1%13.5%
11/2/20235.8%3.4%8.6%
8/3/2023-0.7%-0.1%-2.7%
5/4/2023-2.1%0.8%6.1%
2/9/2023-2.3%-3.2%-7.3%
11/3/2022-3.8%-5.9%-4.6%
8/4/20224.6%3.8%4.5%
5/5/2022-1.1%-7.3%-3.6%
2/10/2022-4.0%-2.5%10.8%
11/4/2021-4.3%-3.1%-8.8%
8/5/20211.4%4.3%2.9%
5/6/20212.6%-0.3%5.0%
2/11/20211.6%6.4%17.0%
11/5/20200.7%4.9%12.0%
SUMMARY STATS   
# Positive101015
# Negative14149
Median Positive4.0%4.0%6.0%
Median Negative-4.2%-5.4%-7.3%
Max Positive14.1%13.3%17.0%
Max Negative-26.2%-18.9%-20.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/30/202610-Q
03/31/202605/05/202610-Q
12/31/202502/05/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/06/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/01/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/09/202310-K
09/30/202211/03/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/30/202610-Q
03/31/202605/05/202610-Q
12/31/202502/05/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/06/202510-K
09/30/202410/31/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202302/01/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202202/09/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q
12/31/202102/10/202210-K
09/30/202111/04/202110-Q
06/30/202108/05/202110-Q
03/31/202105/06/202110-Q
12/31/202002/11/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/13/202010-K
09/30/201911/07/201910-Q

Recent Forward Guidance

Updated 10/29/2026

Latest: Q3 2026 Earnings Reported 10/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Operating FAS/CAS AdjustmentReported -40.00 Mil    
2026 Non-operating Retirement BenefitReported 213.00 Mil    
2026 Depreciation & AmortizationReported 330.00 Mil    
2026 Shipbuilding RevenueReported10.50 Bil10.60 Bil10.70 Bil2.9% RaisedGuidance: 10.30 Bil for 2026
2026 Mission Technologies RevenueReported3.00 Bil3.10 Bil3.20 Bil0.0% AffirmedGuidance: 3.10 Bil for 2026
2026 Shipbuilding Operating MarginReported6.0%6.25%6.5% 0.0%AffirmedGuidance: 6.25% for 2026
2026 Mission Technologies Segment Operating MarginReported 6.0%  1.0%RaisedGuidance: 5.0% for 2026
2026 Mission Technologies EBITDA MarginReported 9.0%  0.5%RaisedGuidance: 8.5% for 2026
2026 Interest ExpenseReported -100.00 Mil    
2026 Non-current State Income Tax ExpenseReported -27.00 Mil    
2026 Effective Tax RateReported 17.0%    
2026 Capital ExpendituresReported 500.00 Mil    
2026 Free Cash FlowReported500.00 Mil550.00 Mil600.00 Mil0.0% AffirmedGuidance: 550.00 Mil for 2026


Prior: Q2 2026 Earnings Reported 7/30/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Shipbuilding RevenueReported10.20 Bil10.30 Bil10.40 Bil5.1% RaisedGuidance: 9.80 Bil for 2026
2026 Mission Technologies RevenueReported3.00 Bil3.10 Bil3.20 Bil0 AffirmedGuidance: 3.10 Bil for 2026
2026 Shipbuilding Operating MarginReported6.0%6.25%6.5% 0.2%RaisedGuidance: 6.0% for 2026
2026 Mission Technologies Segment Operating MarginReported 5.0%  0AffirmedGuidance: 5.0% for 2026
2026 Mission Technologies EBITDA MarginReported8.4%8.5%8.6% 0AffirmedGuidance: 8.5% for 2026
2026 Free Cash FlowReported500.00 Mil550.00 Mil600.00 Mil0 AffirmedGuidance: 550.00 Mil for 2026

Q1 2026 Earnings Reported 5/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 HII Revenue GrowthReported 6.0%  0.0%AffirmedGuidance: 6.0% for 2026
2026 Shipbuilding Revenue GrowthReported 6.0%  0.0%AffirmedGuidance: 6.0% for 2026
2026 Mission Technologies Revenue GrowthReported 5.0%  0.0%AffirmedGuidance: 5.0% for 2026
2026 Shipbuilding RevenueReported97.00 Bil9.80 Bil9.90 Bil0.0% AffirmedGuidance: 9.80 Bil for 2026
2026 Mission Technologies RevenueReported3.00 Bil3.10 Bil3.20 Bil0.0% AffirmedGuidance: 3.10 Bil for 2026
2026 Shipbuilding Operating MarginReported5.5%6.0%6.5% 0.0%AffirmedGuidance: 6.0% for 2026
2026 Mission Technologies Segment Operating MarginReported 5.0%  0.0%AffirmedGuidance: 5.0% for 2026
2026 Mission Technologies EBITDA MarginReported8.4%8.5%8.6% 0.0%AffirmedGuidance: 8.5% for 2026
2026 Free Cash FlowReported 550.00 Mil 0.0% AffirmedGuidance: 550.00 Mil for 2026

Q4 2025 Earnings Reported 2/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Revenue GrowthReported 6.0%    
2026 Shipbuilding Revenue GrowthReported 6.0%    
2026 Mission Technologies Revenue GrowthReported 5.0%    
2026 RevenueReported3.00 Bil3.10 Bil3.20 Bil1.6% Higher NewActual: 3.05 Bil for 2025
2026 Operating MarginReported 5.0%  0.5%Higher NewActual: 4.5% for 2025
2026 EBITDA MarginReported8.4%8.5%8.6% 0.2%Higher NewActual: 8.25% for 2025
2026 Free Cash FlowReported500.00 Mil550.00 Mil600.00 Mil-8.3% Lower NewActual: 600.00 Mil for 2025

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Kastner, Christopher DDirector, President & CEODirectSell8112026324.9213,0704,246,7043,646,886Form
2Harker, Victoria D DirectSell8112026333.17723240,878744,957Form
3Hughes, Edmond E JREx VP & Chief HR OfficerDirectSell5292026319.583,5001,118,5342,681,647Form
4Stiehle, Thomas EEx. VP and CFODirectSell3092026430.544,5001,937,43010,743,532Form
5Boudreaux, Chad NEx VP & Chief Legal OfficerDirectSell3092026422.454,4001,858,7808,601,095Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Kastner, Christopher DDirector, President & CEODirectSell8112026324.9213,0704,246,7043,646,886Form
2Harker, Victoria D DirectSell8112026333.17723240,878744,957Form
3Hughes, Edmond E JREx VP & Chief HR OfficerDirectSell5292026319.583,5001,118,5342,681,647Form
4Stiehle, Thomas EEx. VP and CFODirectSell3092026430.544,5001,937,43010,743,532Form
5Boudreaux, Chad NEx VP & Chief Legal OfficerDirectSell3092026422.454,4001,858,7808,601,095Form
6Chewning, Eric DEVP, Maritime Sys & Corp STRDirectSell3052026433.441,700736,848844,986Form
7Schuck, Nicolas GCorp VP, Controller & CAODirectSell3032026457.391,720786,7111,019,880Form
8Green, Edgar A IiiEx VP, Pres. HII Mission TechDirectSell3032026457.744,4482,035,9793,300,356Form
9Boudreaux, Chad NEx VP & Chief Legal OfficerDirectSell11282025314.17787247,2166,422,051Form
10Hughes, Edmond E JREx VP & Chief HR OfficerDirectSell11212025315.44850268,1242,754,112Form
11Kastner, Christopher DDirector, President & CEOHeld in the Kastner Family TrustSell11132025321.0615,0004,815,90021,876,735Form
12Schuck, Nicolas GCorp VP, Controller & CAODirectSell11062025314.36466146,389760,252Form
13Harker, Victoria D DirectSell11062025316.611,000316,605798,794Form

Investor Activity (13F)

Updated Oct 30, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Investment Management Associates Inc /Adv$43.7 Mil11.8%27Hold13F
Forest Avenue Capital Management LP$31.5 Mil2.0%25New13F
Alpha Wave Global, LP$6.7 Mil0.8%20TRIM -42.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Forest Avenue Capital Management LP$31.5 Mil2.0%25New13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Sound Shore Management Inc /CT/$69.5 Mil2.2%37ExitedDec 31, 202513F
Sunriver Management LLC$39.2 Mil4.1%23ExitedDec 31, 202513F
Newbrook Capital Advisors LP$36.2 Mil4.5%20ExitedDec 31, 202513F
KADENSA CAPITAL Ltd$25.2 Mil2.6%43ExitedDec 31, 202513F
Alpha Wave Global, LP$6.7 Mil0.8%20TRIM -42.5%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Investment Management Associates Inc /Adv$43.7 Mil11.8%27Hold13F
Forest Avenue Capital Management LP$31.5 Mil2.0%25New13F
Alpha Wave Global, LP$6.7 Mil0.8%20TRIM -42.5%13F
Core Cache Last Updated: 10/29/2026