FTAI Aviation (FTAI)
Market Price (10/6/2026): $165.99 | Market Cap: $17.0 BilSector: Industrials | Industry: Aerospace & Defense
FTAI Aviation (FTAI)
Market Price (10/6/2026): $165.99Market Cap: $17.0 BilSector: IndustrialsIndustry: Aerospace & Defense
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 45% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% Megatrend and thematic driversMegatrends include Advanced Aviation & Space. Themes include Aviation Engine Leasing, Aircraft Maintenance, Repair, Show more. | Weak multi-year price returns2Y Excs Rtn is -8.8% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29% Short seller reportMuddy Waters Research report on 3/3/2025. Key risksFTAI key risks include [1] allegations of financial misconduct and securities fraud lawsuits, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 45% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 25% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -39% |
| Megatrend and thematic driversMegatrends include Advanced Aviation & Space. Themes include Aviation Engine Leasing, Aircraft Maintenance, Repair, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -8.8% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -29% |
| Short seller reportMuddy Waters Research report on 3/3/2025. |
| Key risksFTAI key risks include [1] allegations of financial misconduct and securities fraud lawsuits, Show more. |
Qualitative Assessment
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FTAI Aviation (FTAI) stock has lost about 40% since 6/30/2026 because of the following key factors:
1. FTAI Aviation reported a significant earnings miss for fiscal Q2 2026 and concurrently lowered its full-year guidance, which negatively impacted investor sentiment. The company announced adjusted earnings per share (EPS) of $1.13 on July 29, 2026, missing analyst consensus estimates of $1.68 to $1.69 by 32.7% to 33.14%. Following this announcement, the stock experienced a 7.05% decrease. Furthermore, FTAI reduced its 2026 adjusted free cash flow guidance to $878 million from a prior $915 million, and lowered its 2026 adjusted EBITDA guidance for the Aviation Leasing segment by $100 million, from $575 million to $475 million.
2. The company's strategic shift in its Aviation Leasing segment and a focus on market share in Aerospace Products led to margin compression. FTAI Aviation is transitioning its Aviation Leasing segment to an asset-light model, prioritizing third-party module sales over traditional balance sheet leasing, which directly contributed to the $100 million reduction in the segment's 2026 adjusted EBITDA guidance. While the company increased its 2026 module production target for Aerospace Products to 1,200 units from 1,050, this expansion implies a reduction in EBITDA margin per MRO (Maintenance, Repair, and Overhaul) module from $1 million to $875,000, as the company prioritizes market share over per-unit profitability.
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FTAI Aviation (FTAI) stock has lost about 40% since 6/30/2026 because of the following key factors:
1. FTAI Aviation reported a significant earnings miss for fiscal Q2 2026 and concurrently lowered its full-year guidance, which negatively impacted investor sentiment. The company announced adjusted earnings per share (EPS) of $1.13 on July 29, 2026, missing analyst consensus estimates of $1.68 to $1.69 by 32.7% to 33.14%. Following this announcement, the stock experienced a 7.05% decrease. Furthermore, FTAI reduced its 2026 adjusted free cash flow guidance to $878 million from a prior $915 million, and lowered its 2026 adjusted EBITDA guidance for the Aviation Leasing segment by $100 million, from $575 million to $475 million.
2. The company's strategic shift in its Aviation Leasing segment and a focus on market share in Aerospace Products led to margin compression. FTAI Aviation is transitioning its Aviation Leasing segment to an asset-light model, prioritizing third-party module sales over traditional balance sheet leasing, which directly contributed to the $100 million reduction in the segment's 2026 adjusted EBITDA guidance. While the company increased its 2026 module production target for Aerospace Products to 1,200 units from 1,050, this expansion implies a reduction in EBITDA margin per MRO (Maintenance, Repair, and Overhaul) module from $1 million to $875,000, as the company prioritizes market share over per-unit profitability.
3. Broader macroeconomic headwinds and sector-specific concerns weighed on the stock. The escalation of geopolitical tensions involving Iran contributed to higher jet fuel prices, and major aerospace companies subsequently tempered their estimates for global flight departures in fiscal 2026, directly impacting demand for aviation services. Additionally, the stock experienced declines as investors reduced exposure to higher-beta industrial stocks during a broader market pullback, exemplified by a nearly 6% drop on July 7, 2026. Slower-than-expected growth in the July industrial production report, which showed a 0.2% increase against an anticipated 0.4%, further raised concerns about cooling economic activity, causing FTAI Aviation to fall by 6.8% on August 18, 2026.
4. Significant insider selling activity contributed to negative sentiment. Insider selling was identified as a factor driving the stock's selloff. Notably, Martin Tuchman, an insider, sold shares exceeding $61.5 million in the last 24 months, indicating a substantial reduction in insider holdings.
5. Removal from the Russell 2500 Index triggered forced passive selling. FTAI Aviation's removal from the Russell 2500 Index resulted in forced passive selling by index funds and other institutional investors tracking the index. This technical selling pressure, unrelated to the company's fundamentals, contributed to the stock's decline in the specified period.
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Stock Movement Drivers
Fundamental Drivers
The -39.0% change in FTAI stock from 6/30/2026 to 10/5/2026 was primarily driven by a -34.0% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 269.93 | 164.70 | -39.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,836 | 3,113 | 9.8% |
| Net Income Margin (%) | 18.9% | 15.9% | -15.7% |
| P/E Multiple | 51.6 | 34.0 | -34.0% |
| Shares Outstanding (Mil) | 103 | 103 | 0.0% |
| Cumulative Contribution | -39.0% |
Market Drivers
6/30/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| FTAI | -39.0% | |
| Market (SPY) | 3.8% | 45.8% |
| Sector (XLI) | -8.2% | 55.8% |
Fundamental Drivers
The -32.5% change in FTAI stock from 3/31/2026 to 10/5/2026 was primarily driven by a -31.8% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 244.04 | 164.70 | -32.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,507 | 3,113 | 24.1% |
| Net Income Margin (%) | 20.0% | 15.9% | -20.2% |
| P/E Multiple | 50.0 | 34.0 | -31.8% |
| Shares Outstanding (Mil) | 103 | 103 | 0.0% |
| Cumulative Contribution | -32.5% |
Market Drivers
3/31/2026 to 10/5/2026| Return | Correlation | |
|---|---|---|
| FTAI | -32.5% | |
| Market (SPY) | 19.4% | 53.4% |
| Sector (XLI) | 5.4% | 66.6% |
Fundamental Drivers
The -0.5% change in FTAI stock from 9/30/2025 to 10/5/2026 was primarily driven by a -25.2% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 165.57 | 164.70 | -0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2,143 | 3,113 | 45.3% |
| Net Income Margin (%) | 21.3% | 15.9% | -25.2% |
| P/E Multiple | 37.2 | 34.0 | -8.4% |
| Shares Outstanding (Mil) | 103 | 103 | 0.0% |
| Cumulative Contribution | -0.5% |
Market Drivers
9/30/2025 to 10/5/2026| Return | Correlation | |
|---|---|---|
| FTAI | -0.5% | |
| Market (SPY) | 17.3% | 48.2% |
| Sector (XLI) | 11.3% | 60.0% |
Fundamental Drivers
The 380.5% change in FTAI stock from 9/30/2023 to 10/5/2026 was primarily driven by a 190.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302023 | 10052026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.28 | 164.70 | 380.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,072 | 3,113 | 190.5% |
| Net Income Margin (%) | 8.9% | 15.9% | 80.1% |
| P/E Multiple | 36.0 | 34.0 | -5.5% |
| Shares Outstanding (Mil) | 100 | 103 | -2.8% |
| Cumulative Contribution | 380.5% |
Market Drivers
9/30/2023 to 10/5/2026| Return | Correlation | |
|---|---|---|
| FTAI | 380.5% | |
| Market (SPY) | 87.5% | 43.9% |
| Sector (XLI) | 74.5% | 46.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| FTAI Return | 29% | -23% | 182% | 215% | 38% | -15% | 934% |
| Peers Return | 11% | 20% | 26% | 99% | 12% | 0% | 277% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| FTAI Win Rate | 58% | 33% | 83% | 92% | 67% | 50% | |
| Peers Win Rate | 46% | 48% | 58% | 69% | 52% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| FTAI Max Drawdown | -36% | -40% | -12% | -28% | -52% | -46% | |
| Peers Max Drawdown | -23% | -24% | -20% | -17% | -28% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDG, HEI, WLFC, AIR.
[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 10/5/2026 (YTD)
How Low Can It Go
| Event | FTAI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.7% | -18.8% |
| % Gain to Breakeven | 44.3% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.5% | -24.5% |
| % Gain to Breakeven | 57.5% | 32.4% |
| Time to Breakeven | 213 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -72.8% | -33.7% |
| % Gain to Breakeven | 267.5% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.6% | -19.2% |
| % Gain to Breakeven | 38.2% | 23.8% |
| Time to Breakeven | 86 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -39.7% | -12.2% |
| % Gain to Breakeven | 65.7% | 13.9% |
| Time to Breakeven | 256 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -43.8% | -6.8% |
| % Gain to Breakeven | 77.9% | 7.3% |
| Time to Breakeven | 364 days | 15 days |
In The Past
FTAI Aviation's stock fell -30.7% during the 2025 US Tariff Shock. Such a loss loss requires a 44.3% 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.
| Event | FTAI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -30.7% | -18.8% |
| % Gain to Breakeven | 44.3% | 23.1% |
| Time to Breakeven | 36 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.5% | -24.5% |
| % Gain to Breakeven | 57.5% | 32.4% |
| Time to Breakeven | 213 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -72.8% | -33.7% |
| % Gain to Breakeven | 267.5% | 50.9% |
| Time to Breakeven | 245 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -27.6% | -19.2% |
| % Gain to Breakeven | 38.2% | 23.8% |
| Time to Breakeven | 86 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -39.7% | -12.2% |
| % Gain to Breakeven | 65.7% | 13.9% |
| Time to Breakeven | 256 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -43.8% | -6.8% |
| % Gain to Breakeven | 77.9% | 7.3% |
| Time to Breakeven | 364 days | 15 days |
In The Past
FTAI Aviation's stock fell -30.7% during the 2025 US Tariff Shock. Such a loss loss requires a 44.3% 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 FTAI Aviation (FTAI)
FTAI Aviation Ltd. (FTAI) is an aviation infrastructure company focused on owning and managing critical equipment for global transportation. The company operates through two distinct segments: Aviation Leasing and Aerospace Products, both integral to the aviation industry supply chain.
Through its Aviation Leasing segment, FTAI acquires, owns, and manages a substantial portfolio of aviation assets, primarily commercial aircraft and aircraft engines. These assets are then leased or sold to airlines and other operators worldwide, providing them with essential equipment for their flight operations without the burden of outright purchase. As of late 2022, this segment managed 330 aviation assets, including 106 aircraft and 224 engines.
The Aerospace Products segment complements the leasing business by specializing in the lifecycle of aircraft engines. This segment is involved in the development, manufacturing, repair, and sale of aircraft engines and their aftermarket components. This provides critical support services and parts to maintain existing fleets, serving airlines, maintenance organizations, and other aviation industry participants with essential engine solutions and components.
AI Analysis | Feedback
Here are 1-3 brief analogies to describe FTAI Aviation:
- FTAI Aviation is like an Enterprise Rent-A-Car, but for commercial airplanes and their engines.
- They are also like a Cummins or Bosch, but exclusively focused on developing, manufacturing, and repairing airplane engines.
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- Aviation Asset Leasing: Leasing of commercial aircraft and aircraft engines to customers worldwide.
- Aviation Asset Sales: Selling commercial aircraft and aircraft engines from its owned fleet.
- Aerospace Product Manufacturing & Sales: Developing, manufacturing, and selling aircraft engines and aftermarket components.
- Aerospace Product Repair Services: Providing repair services for aircraft engines and aftermarket components.
AI Analysis | Feedback
FTAI Aviation (FTAI) primarily sells its services and products to other companies.
Based on the company's annual reports (latest 10-K filing for the year ended December 31, 2023), FTAI Aviation did not have any customers that individually accounted for 10% or more of its total revenues for the years ended December 31, 2023, 2022, or 2021. Therefore, specific names of major customers, in terms of revenue concentration, are not publicly disclosed.
However, based on its business segments, FTAI Aviation's customer base consists of the following types of companies:
- Airlines: Commercial passenger and cargo airlines globally, which lease aircraft and aircraft engines from FTAI's Aviation Leasing segment, and purchase engines and aftermarket components from its Aerospace Products segment.
- Aircraft Operators: Other companies that operate aircraft for various purposes, which may also lease assets from FTAI.
- Maintenance, Repair, and Overhaul (MRO) facilities and other aerospace manufacturers: Companies involved in the maintenance, repair, and manufacturing of aircraft engines and components, which purchase aftermarket components and services from FTAI's Aerospace Products segment.
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- GE Aerospace (Symbol: GE)
- Safran S. A. (Symbol: SAF.PA)
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Joseph Adams, Chief Executive Officer and Chairman of the Board
Mr. Adams has served as the Chief Executive Officer of FTAI Aviation Ltd. since May 2015 and Chairman of its Board of Directors since May 2016. Until May 2024, he was a member of the Management Committee of Fortress Investment Group LLC and a Managing Director within their Private Equity Group. Mr. Adams also serves as Chairman of the Board of FTAI Infrastructure Inc. He previously held positions as a partner at Brera Capital Partners and Donaldson, Lufkin & Jenrette, focusing on the transportation industry. In 2002, he was the first Executive Director of the Air Transportation Stabilization Board. He has also served on the boards of directors for companies such as Seacastle, Inc., SeaCube Container Leasing Ltd., Aircastle Limited, and RailAmerica Inc.
Nicholas McAleese, Chief Financial Officer
Mr. McAleese was appointed Chief Financial Officer of FTAI Aviation, effective March 6, 2026. He joined FTAI in 2022, focusing on financial planning and analysis and corporate finance. His prior experience includes various roles at BHG Financial, Breather, and PwC, where he specialized in public accounting, real estate, and capital markets. Mr. McAleese is both a Chartered Financial Analyst and a Certified Public Accountant.
David Moreno, President
Mr. Moreno was appointed President of FTAI Aviation, effective February 12, 2026. From 2021 to 2026, he served as the company's Chief Operating Officer, overseeing growth initiatives, strategic acquisitions, and partnerships. Prior to that, from 2013 to 2021, Mr. Moreno held various roles focused on aviation investments within Fortress Investment Group.
Stacy Kuperus, Chief Operating Officer
Ms. Kuperus was appointed Chief Operating Officer of FTAI Aviation, effective February 12, 2026. She previously served as Chief Portfolio Officer from 2021 to 2026, where she was responsible for business operations and deal execution across the company's owned assets. From 2014 to 2021, Ms. Kuperus held various roles within Fortress Investment Group, primarily concentrating on developing the operational and organizational structure to support FTAI's portfolio growth.
Michael Hazan, Chief Accounting Officer
Mr. Hazan was appointed Chief Accounting Officer of FTAI Aviation, effective March 6, 2026. From 2024 to 2026, he served as Senior Vice President, Controller, where he was responsible for the company's accounting, financial reporting, and operational efforts. From 2017 to 2024, Mr. Hazan held various roles within Fortress Investment Group, primarily focusing on accounting and financial reporting for FTAI. Before joining Fortress, he worked in PwC's audit practice for over six years. He is a Certified Public Accountant.
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The key risks to FTAI Aviation's business are primarily driven by geopolitical factors, the inherent cyclicality of the aviation industry, and ongoing operational and regulatory challenges.
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Geopolitical Risks and Asset Impairment: FTAI Aviation faces significant risks from geopolitical instability, most notably the ongoing Russia-Ukraine conflict. As of December 31, 2022, the company had aviation assets, including aircraft and engines, located in both Ukraine and Russia. The conflict has led to economic sanctions, trade restrictions, and political instability, which could negatively impact the value and recoverability of these assets. FTAI Aviation is actively pursuing insurance claims for these "beached Russian plane and engine assets," with a claim valued at approximately $89.68 million (€82.99 million) filed in an Irish court as of August 2024. This risk is consistently highlighted in the company's annual reports, underscoring its potential to affect asset values, demand for aviation services, and financing costs.
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Cyclicality of the Aviation Industry, Market Demand Fluctuations, and Supply Chain Disruptions: The aviation industry is highly cyclical and extremely sensitive to broader macroeconomic conditions, global economic slowdowns, and unforeseen geopolitical events. FTAI's business, which involves leasing aircraft and engines and selling aerospace products, is directly affected by fluctuations in air travel demand and airline financial health. Industry forecasts indicate potential for intensified competition and economic pressures, creating an uncertain environment that could impact aviation stocks and FTAI's growth prospects. Furthermore, the aerospace sector continues to grapple with significant supply chain disruptions, including material and component shortages, production delays from major aircraft manufacturers, and workforce constraints, all of which can hinder operations and increase costs for FTAI and its customers.
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Regulatory Compliance, Operational Challenges, and Asset Concentration: The aerospace and aviation leasing sectors are subject to extensive and evolving regulations from bodies such as the FAA, Transport Canada, and EASA. Non-compliance with these standards, including those related to environmental legislation or cybersecurity, could lead to significant operational disruptions, financial penalties, and increased investment requirements. Operational risks also include the possibility of customer or lessee defaults on lease payments, challenges in renewing existing leases or securing new ones, and exposure to uninsurable losses. Additionally, FTAI's business model, which includes a concentration on specific engine types like CFM56-5B, CFM56-7B, and V2500, poses a risk if market demand for these particular assets declines or if there are issues specific to these models.
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The rapid development and anticipated adoption of alternative propulsion systems (such as electric, hybrid-electric, or hydrogen-powered engines) in aviation. If FTAI Aviation's Aerospace Products segment is primarily focused on conventional gas turbine engines and components without a significant strategic pivot, these emerging technologies could diminish the long-term market for their existing products, repairs, and aftermarket components, similar to how new technologies have disrupted established product lines in other industries.
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FTAI Aviation operates in two primary segments: Aviation Leasing and Aerospace Products. The addressable markets for these segments are substantial on a global scale.
Aviation Leasing
For its Aviation Leasing segment, which includes the leasing of aircraft and aircraft engines, the global aircraft leasing market was valued at approximately USD 192.45 billion in 2024 and is projected to grow to around USD 397.21 billion by 2034. Specifically for aircraft engine leasing, the global market size reached approximately USD 23.8 billion in 2024 and is projected to expand to USD 43.6 billion by 2033. North America represents a significant portion of the aircraft leasing market, with an estimated value of USD 75.08 billion in 2024, and the U.S. aircraft leasing market alone was valued at USD 52.56 billion in 2024.
Aerospace Products
In its Aerospace Products segment, which involves the development, manufacturing, repair, and sale of aircraft engines and aftermarket components, the addressable markets include aircraft engine Maintenance, Repair, and Overhaul (MRO) and the broader aircraft aftermarket parts market.
- The global aircraft engine MRO market was estimated to be around USD 88.91 billion in 2024 and is projected to increase to approximately USD 147.46 billion by 2034.
- The global aircraft aftermarket parts market, which encompasses engine components, was valued at USD 49.3 billion in 2024 and is expected to grow to USD 108.8 billion by 2034. Engine components alone accounted for nearly 32% of the total revenue share within the aircraft aftermarket parts market in 2024. North America held the largest share of the global aircraft aftermarket parts market, at 38.1%, valued at USD 18.8 billion in 2024.
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FTAI Aviation (NASDAQ: FTAI) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and favorable industry trends:
- Continued Growth and Market Adoption of Aerospace Products: FTAI Aviation anticipates robust expansion in its Aerospace Products segment, particularly through its Maintenance, Repair, and Exchange (MRE) business model for CFM56 and V2500 engines. The company expects strong growth as customers increasingly recognize the benefits of its MRE products and programs, driven by providing fixed-price engines and cost-efficient alternatives to traditional shop visits. This segment saw significant growth in 2025, with adjusted EBITDA increasing by 76% over 2024 and 320% over 2023, and the company aims to increase its 2026 module target to 1,050, aspiring for approximately 40% aerospace margins by enhancing parts approvals, securing lower-cost supply, and expanding repair capabilities.
- Strategic Capital Initiative (SCI) Partnerships for Aviation Leasing: The company is expanding its Aviation Leasing segment through Strategic Capital Initiative (SCI) partnerships, transitioning towards an asset-light business model. Following the successful deployment of SCI I, which secured $2 billion in equity commitments and aims to deploy approximately $6 billion in total capital, FTAI Aviation has initiated fundraising for SCI II. These partnerships enable the acquisition of new aviation assets, including aircraft and engines, and generate revenue through management servicing fees and incentive fees.
- Launch and Ramp-Up of FTAI Power: A significant new growth driver is the launch of FTAI Power, a platform dedicated to converting CFM56 engines into aeroderivative power turbines. This initiative targets the growing demand for electricity, with the first Aeroderivative product, FTAI Mod-1, expected to be delivered by the fourth quarter of 2026 and planned production of 100 units in 2027. This new product offering is anticipated to become a substantial contributor to FTAI's long-term growth.
- Favorable Industry Trends Extending Aircraft and Engine Lifecycles: FTAI Aviation benefits from a long-term industry trend where airlines are extending the economic useful life of current technology aircraft and engines, such as 737NGs and A320ceos, to thirty years from a previous assumption of twenty-five years. This trend strengthens the aftermarket outlook for these platforms, increasing the demand for FTAI's engine maintenance, repair, and leasing solutions as airlines opt to extend the life of their existing fleets rather than retiring them for newer technology.
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Share Repurchases
- FTAI Aviation has reported no share repurchases over the last several years.
- Management indicated in August 2025 that significant share repurchases are planned for the near future, contingent on incremental cash and liquidity.
Share Issuance
- In May 2024, FTAI Aviation announced a public offering of 2,090,561 ordinary shares.
- The company completed a Follow-on Equity Offering amounting to $171.426 million.
- FTAI Aviation's shares outstanding increased by 1.11% in 2024 from 2023, 1.01% in 2023 from 2022, and 10.56% in 2022 from 2021.
Inbound Investments
- FTAI Aviation completed fundraising for its inaugural Strategic Capital Initiatives (SCI).
- The company finalized equity commitments for SCI, upsizing total equity capital to $2 billion and allocating over $6 billion in capital for deployment by mid-2026.
Outbound Investments
- FTAI Aviation acquired QuickTurn in December 2023 and Lockheed Martin Commercial Engine Solutions in September 2024, expanding its capacity for CFM56 engine repairs.
- The company also acquired a maintenance facility in Rome to expand its capacity and geographic footprint.
Capital Expenditures
- Capital expenditures were $450 million in 2025.
- Expected capital expenditures are $100 million-$130 million annually until 2028, after which investments in next-generation aircraft are planned.
- FTAI Aviation invested $10.2 million in capital expenditures in Q4 2025, primarily funding long-term assets and infrastructure.
Peer Outperformance in Aerospace & Defense
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 9.2% | 124.8% | 195.6% | FIX 2178% · STRL 2169% · CDNL 2108% |
| Marine Transportation | 5 | 88.7% | 72.2% | 185.0% | HOS 41216% · MATX 197% · KEX 185% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 2.5% | 50.8% | 104.0% | CAT 382% · ALSN 254% · WAB 238% |
| Aerospace & Defense ← | 54 | -15.2% | 62.3% | 70.1% | ATI 1049% · FTAI 838% · HWM 629% |
| Trading Companies & Distributors | 19 | 5.6% | 37.7% | 55.1% | DXPE 544% · AIT 289% · WCC 232% |
| Industrial Machinery & Supplies & Components | 72 | 14.3% | 48.0% | 48.6% | CRS 1170% · PSIX 1065% · GHM 618% |
| Rail Transportation | 7 | 19.5% | 60.0% | 46.0% | FSTR 134% · RAIL 63% · CSX 56% |
| Electrical Components & Equipment | 39 | 2.9% | 61.3% | 34.2% | POWL 2428% · BE 1433% · VRT 1005% |
| Cargo Ground Transportation | 16 | 34.7% | 4.1% | 31.7% | XPO 278% · R 220% · CVLG 150% |
| Diversified Support Services | 33 | 6.4% | 31.0% | 31.4% | LIME 3059% · TH 387% · CXW 280% |
| Building Products | 33 | -13.9% | 3.2% | 17.6% | LMB 672% · GFF 355% · PPIH 283% |
| Agricultural & Farm Machinery | 17 | 14.3% | 3.1% | -2.1% | BLBD 183% · DE 115% · GENC 60% |
| Industrial Conglomerates | 17 | 9.7% | 1.4% | -3.0% | RCMT 613% · CSW 132% · CSL 74% |
| Environmental & Facilities Services | 30 | -19.6% | 15.6% | -8.8% | CECO 953% · ADUR 432% · NVRI 337% |
| Passenger Ground Transportation | 3 | -28.5% | 41.8% | -11.6% | UBER 48% · CAR -12% · LYFT -71% |
| Research & Consulting Services | 13 | -11.3% | -28.9% | -17.0% | HURN 222% · CRAI 76% · GRNQ 29% |
| Security & Alarm Services | 9 | -39.9% | 38.4% | -21.0% | CIX 160% · MG 113% · NL 75% |
| Data Processing & Outsourced Services | 6 | -34.9% | -15.1% | -27.0% | EXLS 44% · BR 4% · G -24% |
| Office Services & Supplies | 9 | 14.5% | 20.8% | -27.4% | PBI 186% · TILE 131% · HNI 52% |
| Passenger Airlines | 11 | 13.1% | 20.6% | -35.8% | LTM 3185% · UAL 119% · DAL 96% |
| Air Freight & Logistics | 12 | -14.7% | -24.2% | -37.5% | CHRW 78% · FDX 78% · EXPD 78% |
| Human Resource & Employment Services | 22 | 3.6% | -18.9% | -39.9% | BBSI 66% · ADP 42% · KFY 4% |
| Airport Services | 3 | -77.7% | -78.6% | -71.6% | JOBY -37% · ASLE -72% · UP -100% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 165.72 |
| Mkt Cap | 17.0 |
| Rev LTM | 3,486 |
| Op Inc LTM | 784 |
| FCF LTM | 135 |
| FCF 3Y Avg | 38 |
| CFO LTM | 272 |
| CFO 3Y Avg | 278 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 20.7% |
| Rev Chg 3Y Avg | 25.8% |
| Rev Chg Q | 23.1% |
| QoQ Delta Rev Chg LTM | 5.4% |
| Op Inc Chg LTM | 17.0% |
| Op Inc Chg 3Y Avg | 29.1% |
| Op Mgn LTM | 25.2% |
| Op Mgn 3Y Avg | 22.5% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 21.5% |
| CFO/Rev 3Y Avg | 19.1% |
| FCF/Rev LTM | 3.9% |
| FCF/Rev 3Y Avg | 1.1% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aerospace Products | 1,936 | 1,080 | 455 | 179 | 23 |
| Aviation Leasing | 571 | 628 | 682 | 503 | 298 |
| Corporate and other | 0 | 27 | 34 | 27 | 14 |
| Eliminations | 0 | ||||
| Total | 2,507 | 1,735 | 1,171 | 708 | 336 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Aerospace Products | 548 | 346 | 180 | 71 | 21 |
| Aviation Leasing | 271 | 210 | 292 | 57 | 140 |
| Eliminations | -23 | ||||
| Corporate and other | -319 | -589 | -260 | -265 | -229 |
| Total | 477 | -32 | 212 | -138 | -68 |
| $ Mil | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Aviation Leasing | 2,099 | 1,704 | 1,695 | 1,367 | 953 |
| Jefferson Terminal | 1,284 | 990 | 781 | 671 | 579 |
| Transtar | 762 | ||||
| Corporate and other | 401 | 294 | 394 | 64 | 49 |
| Ports and Terminals | 317 | 400 | 366 | 277 | 124 |
| Offshore Energy | 193 | 195 | |||
| Railroad | 64 | 52 | |||
| Shipping Containers | 2 | 4 | |||
| Total | 4,864 | 3,388 | 3,237 | 2,639 | 1,956 |
Price Behavior
| Market Price | $164.70 | |
| Market Cap ($ Bil) | 16.9 | |
| First Trading Date | 05/15/2015 | |
| Distance from 52W High | -46.6% | |
| 50 Days | 200 Days | |
| DMA Price | $196.79 | $234.74 |
| DMA Trend | up | down |
| Distance from DMA | -16.3% | -29.8% |
| 3M | 1YR | |
| Volatility | 61.4% | 63.8% |
| Downside Capture | 438.29 | 262.55 |
| Upside Capture | 171.32 | 214.96 |
| Correlation (SPY) | 45.9% | 48.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.64 | 2.37 | 2.64 | 2.99 | 2.38 | 1.85 |
| Up Beta | 3.21 | 1.87 | 1.72 | 3.93 | 3.24 | 1.84 |
| Down Beta | -0.38 | 2.96 | 2.76 | 2.10 | 1.41 | 2.02 |
| Up Capture | 234% | 172% | 183% | 245% | 429% | 1145% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 9 | 18 | 25 | 55 | 122 | 400 |
| Down Capture | 393% | 355% | 365% | 274% | 167% | 110% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 13 | 24 | 39 | 71 | 130 | 351 |
[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 FTAI | |
|---|---|---|---|---|
| FTAI | -3.6% | 63.6% | 0.19 | - |
| Sector ETF (XLI) | 11.3% | 17.3% | 0.45 | 60.3% |
| Equity (SPY) | 16.8% | 13.0% | 0.92 | 48.1% |
| Gold (GLD) | 7.0% | 29.6% | 0.23 | 31.7% |
| Commodities (DBC) | 45.9% | 20.9% | 1.71 | -21.3% |
| Real Estate (VNQ) | 1.6% | 13.6% | -0.14 | 21.3% |
| Bitcoin (BTCUSD) | -30.1% | 44.3% | -0.68 | 23.8% |
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 FTAI | |
|---|---|---|---|---|
| FTAI | 55.4% | 57.0% | 0.99 | - |
| Sector ETF (XLI) | 12.6% | 17.6% | 0.55 | 47.4% |
| Equity (SPY) | 13.3% | 17.2% | 0.59 | 45.5% |
| Gold (GLD) | 18.3% | 18.9% | 0.78 | 17.0% |
| Commodities (DBC) | 10.0% | 19.6% | 0.39 | 3.8% |
| Real Estate (VNQ) | 0.9% | 18.8% | -0.06 | 30.5% |
| Bitcoin (BTCUSD) | 14.9% | 52.2% | 0.45 | 20.5% |
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 FTAI | |
|---|---|---|---|---|
| FTAI | 40.1% | 51.5% | 0.86 | - |
| Sector ETF (XLI) | 13.3% | 20.0% | 0.58 | 47.3% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 43.7% |
| Gold (GLD) | 11.5% | 16.4% | 0.57 | 10.4% |
| Commodities (DBC) | 8.4% | 18.1% | 0.38 | 15.6% |
| Real Estate (VNQ) | 4.1% | 20.7% | 0.16 | 35.9% |
| Bitcoin (BTCUSD) | 64.0% | 66.2% | 1.04 | 13.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/31/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | 0.1% | 13.4% | 1.3% |
| 4/29/2026 | 17.2% | 34.0% | 22.4% |
| 2/25/2026 | 2.7% | -6.3% | -20.4% |
| 7/30/2025 | -4.7% | -4.7% | 7.8% |
| 4/30/2025 | -18.9% | 2.7% | 9.7% |
| 2/26/2025 | -7.6% | -19.4% | -18.1% |
| 10/30/2024 | -7.5% | 2.6% | 16.4% |
| 7/24/2024 | -3.6% | 2.0% | 9.8% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 16 |
| # Negative | 13 | 9 | 7 |
| Median Positive | 3.1% | 3.2% | 9.7% |
| Median Negative | -4.3% | -6.3% | -13.0% |
| Max Positive | 17.2% | 34.0% | 28.0% |
| Max Negative | -18.9% | -19.5% | -20.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | 0.1% | 13.4% | 1.3% |
| 4/29/2026 | 17.2% | 34.0% | 22.4% |
| 2/25/2026 | 2.7% | -6.3% | -20.4% |
| 7/30/2025 | -4.7% | -4.7% | 7.8% |
| 4/30/2025 | -18.9% | 2.7% | 9.7% |
| 2/26/2025 | -7.6% | -19.4% | -18.1% |
| 10/30/2024 | -7.5% | 2.6% | 16.4% |
| 7/24/2024 | -3.6% | 2.0% | 9.8% |
| 4/25/2024 | -3.4% | 3.1% | 15.8% |
| 2/22/2024 | 6.3% | 3.3% | 20.6% |
| 10/25/2023 | 7.0% | 17.0% | 26.4% |
| 7/26/2023 | -4.3% | -2.7% | 6.2% |
| 4/26/2023 | 2.7% | 2.0% | 2.4% |
| 2/24/2023 | 7.3% | 3.7% | 2.8% |
| 10/28/2022 | -1.4% | -1.5% | -2.0% |
| 7/28/2022 | -0.2% | -5.8% | -9.9% |
| 4/28/2022 | -11.4% | -19.5% | -16.0% |
| 2/25/2022 | 1.7% | -9.6% | 1.7% |
| 10/29/2021 | 1.7% | 1.9% | -13.0% |
| 7/28/2021 | -1.2% | -8.7% | -3.6% |
| 5/3/2021 | -0.9% | 3.3% | 3.3% |
| 2/25/2021 | 3.5% | 13.1% | 14.4% |
| 10/29/2020 | -5.3% | 2.2% | 28.0% |
| SUMMARY STATS | |||
| # Positive | 10 | 14 | 16 |
| # Negative | 13 | 9 | 7 |
| Median Positive | 3.1% | 3.2% | 9.7% |
| Median Negative | -4.3% | -6.3% | -13.0% |
| Max Positive | 17.2% | 34.0% | 28.0% |
| Max Negative | -18.9% | -19.5% | -20.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/31/2026 | 10-Q |
| 03/31/2026 | 05/01/2026 | 10-Q |
| 12/31/2025 | 02/27/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 05/05/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 02/27/2023 | 10-K |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
| 03/31/2022 | 04/29/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/30/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 10/30/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/01/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
Recent Forward Guidance
Updated 10/4/2026Latest: Q2 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Adjusted EBITDA | Reported | 2.30 Bil | ||||||
| 2027 Aerospace Products Adjusted EBITDA | Reported | 1.40 Bil | ||||||
| 2027 FTAI Power Adjusted EBITDA | Reported | 450.00 Mil | ||||||
| 2027 Aviation Leasing Adjusted EBITDA | Reported | 450.00 Mil | ||||||
| 2026 Aerospace Products Adjusted EBITDA | Reported | 1.05 Bil | 0 | Affirmed | Guidance: 1.05 Bil for 2026 | |||
| 2026 Aviation Leasing Adjusted EBITDA | Reported | 475.00 Mil | -17.4% | Lowered | Guidance: 575.00 Mil for 2026 | |||
Prior: Q1 2026 Earnings Reported 4/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Production Target | Reported | 100 | ||||||
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Business Segment Adjusted EBITDA | Reported | 1.62 Bil | 6.6% | Raised | Guidance: 1.52 Bil for 2026 | |||
| 2026 Aerospace Products Adjusted EBITDA | Reported | 1.05 Bil | ||||||
| 2026 Aviation Leasing Adjusted EBITDA | Reported | 575.00 Mil | ||||||
Insider Activity
Updated 8/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Moreno, David | President | Direct | Buy | 8032026 | 201.27 | 2,475 | 498,143 | 40,151,352 | Form |
| 2 | Hannaway, Judith A | Direct | Sell | 5292026 | 253.89 | 255 | 64,742 | 764,717 | Form | |
| 3 | Tuchman, Martin | Direct | Sell | 5052026 | 240.64 | 43,176 | 10,389,959 | 46,474,227 | Form | |
| 4 | Tuchman, Martin | Trust | Sell | 5052026 | 241.99 | 67,500 | 16,334,460 | 50,937,138 | Form | |
| 5 | Tuchman, Martin | Direct | Sell | 5052026 | 242.44 | 143,584 | 34,810,074 | 57,288,348 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Moreno, David | President | Direct | Buy | 8032026 | 201.27 | 2,475 | 498,143 | 40,151,352 | Form |
| 2 | Hannaway, Judith A | Direct | Sell | 5292026 | 253.89 | 255 | 64,742 | 764,717 | Form | |
| 3 | Tuchman, Martin | Direct | Sell | 5052026 | 240.64 | 43,176 | 10,389,959 | 46,474,227 | Form | |
| 4 | Tuchman, Martin | Trust | Sell | 5052026 | 241.99 | 67,500 | 16,334,460 | 50,937,138 | Form | |
| 5 | Tuchman, Martin | Direct | Sell | 5052026 | 242.44 | 143,584 | 34,810,074 | 57,288,348 | Form | |
| 6 | Goodwin, Paul R | Trust | Sell | 3032026 | 303.35 | 10,000 | 3,033,500 | 24,907,462 | Form | |
| 7 | Nam, Eun | Chief Financial Officer | Direct | Buy | 11142025 | 153.46 | 652 | 100,056 | 1,394,798 | Form |
| 8 | Moreno, David | Chief Operating Officer | Direct | Buy | 11132025 | 153.50 | 2,283 | 350,440 | 35,904,571 | Form |
| 9 | Moreno, David | Chief Operating Officer | BVI Corp | Buy | 11132025 | 153.89 | 4,354 | 670,037 | 670,037 | Form |
| 10 | Adams, Joseph P JR | CEO and Chairman | Direct | Buy | 11132025 | 155.91 | 2,000 | 311,820 | 33,843,228 | Form |
Investor Activity (13F)
Updated Oct 6, 2026Active 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 Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Cruiser Capital Advisors, LLC | $33.7 Mil | 13.1% | 53 | TRIM -27.9% | 13F |
| Owl Creek Asset Management, L.P. | $50.3 Mil | 9.7% | 21 | TRIM -23.5% | 13F |
| Northern Right Capital Management, L.P. | $25.3 Mil | 9.0% | 25 | TRIM -9.4% | 13F |
| Weybosset Research & Management LLC | $29.4 Mil | 8.5% | 33 | TRIM -5.8% | 13F |
| Troluce Capital Advisors LLC | $38.0 Mil | 4.0% | 46 | New | 13F |
| Newbrook Capital Advisors LP | $20.2 Mil | 3.8% | 15 | TRIM -73.8% | 13F |
| Deltroit Asset Management (UK) LLP | $18.4 Mil | 3.2% | 39 | ADD +5.4% | 13F |
| Luxor Capital Group, LP | $19.6 Mil | 3.1% | 38 | TRIM -13.8% | 13F |
| Two Seas Capital LP | $62.6 Mil | 2.9% | 35 | ADD +37.2% | 13F |
| Sessa Capital IM, L.P. | $98.0 Mil | 1.9% | 31 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | As Of | Filing |
|---|---|---|---|---|---|---|
| Broad Bay Capital Management, LP | $30.8 Mil | 3.5% | 28 | Exited | Dec 31, 2025 | 13F |
| CloudAlpha Capital Management Limited/Hong Kong | $6.0 Mil | 0.5% | 43 | Exited | Dec 31, 2025 | 13F |
| Newbrook Capital Advisors LP | $20.2 Mil | 3.8% | 15 | TRIM -73.8% | Mar 31, 2026 | 13F |
| Cruiser Capital Advisors, LLC | $33.7 Mil | 13.1% | 53 | TRIM -27.9% | Mar 31, 2026 | 13F |
| Owl Creek Asset Management, L.P. | $50.3 Mil | 9.7% | 21 | TRIM -23.5% | Mar 31, 2026 | 13F |
| Luxor Capital Group, LP | $19.6 Mil | 3.1% | 38 | TRIM -13.8% | Mar 31, 2026 | 13F |
| Northern Right Capital Management, L.P. | $25.3 Mil | 9.0% | 25 | TRIM -9.4% | Mar 31, 2026 | 13F |
| Weybosset Research & Management LLC | $29.4 Mil | 8.5% | 33 | TRIM -5.8% | Mar 31, 2026 | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Sessa Capital IM, L.P. | $98.0 Mil | 1.9% | 31 | Hold | 13F |
| Two Seas Capital LP | $62.6 Mil | 2.9% | 35 | ADD +37.2% | 13F |
| Owl Creek Asset Management, L.P. | $50.3 Mil | 9.7% | 21 | TRIM -23.5% | 13F |
| Troluce Capital Advisors LLC | $38.0 Mil | 4.0% | 46 | New | 13F |
| Cruiser Capital Advisors, LLC | $33.7 Mil | 13.1% | 53 | TRIM -27.9% | 13F |
| Weybosset Research & Management LLC | $29.4 Mil | 8.5% | 33 | TRIM -5.8% | 13F |
| Northern Right Capital Management, L.P. | $25.3 Mil | 9.0% | 25 | TRIM -9.4% | 13F |
| Newbrook Capital Advisors LP | $20.2 Mil | 3.8% | 15 | TRIM -73.8% | 13F |
| Luxor Capital Group, LP | $19.6 Mil | 3.1% | 38 | TRIM -13.8% | 13F |
| Deltroit Asset Management (UK) LLP | $18.4 Mil | 3.2% | 39 | ADD +5.4% | 13F |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Aerospace & Defense Resources |
| Defense News |
| FlightGlobal |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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