ATRO

ATRO

ATRO

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q2	Jul 9, 2025	Middle Coast Investing	-	-	AAPL, ABM, AER, AMZN, ATRO, AVGO, BOOM, COF, DECK, ECG, FCNCA, FG, HSY, LEVI, LULU, LYFT, OMAB, PGR, SCHW, SCS, SJM, TRIP, VMEO, WS	Apparel, financials, inflation, small caps, tariffs, technology, value	The Trump administration has backed off its most extreme tariff positions but tariffs remain higher than before April 2nd. The administration has expressed admiration for current tariff levels of 30% for China, varied tariffs for NAFTA partners, and at least 10% for the rest of the world. One trade deal has been reached with Vietnam entailing 20% tariffs on Vietnamese goods and 40% on third-party goods shipped through Vietnam.	DECK LYFT TRIP ABM DECK LYFT	View
2024 Q2	Jul 8, 2024	Middle Coast Investing	0.0%	0.0%	AAPL, ACLS, AER, AMZN, ARLO, ATKR, ATRO, AVGO, BKNG, DFS, FCNCA, FG, GOGO, LULU, NVDA, OMAB, PGR, SJM, TSM, VOW3.DE	Discipline, Portfolio Management, small caps, stock selection, value	Manager emphasizes buying quality companies at reasonable prices, gravitating toward cheaper, lower earnings-multiple stocks where price doesn't reflect potential value. Focus on finding stocks that will be worth more in 2-3 years than current market price suggests.	GOGO SJM ATRO LULU	View
2024 Q2	Jul 1, 2024	Night Watch Investment Management	-2.9%	10.3%	ASML, ATRO, BC, CWH, DSGR, JOE, NE, NVO, TDW, VAL	aerospace, consumer, energy, Europe, Housing, Offshore Drilling, value	Valaris is the largest offshore drilling company globally, positioned to benefit from growing offshore oil demand in Brazil and Western Africa. Day rates have risen from $200k to $500k per day as the market has tightened, with the company expected to generate $1.65B in free cash flow at current rates.	VAL	View
2025 Q1	Jun 16, 2025	Cove Street Capital Small Cap Value Fund	-	-	AAP, ANGI, ATRO, CMP, ECVT, IIIV	defense, Fed policy, small caps, tariffs, Trade Policy, value	Manager expresses strong criticism of current tariff policies, viewing them as economically harmful and creating business uncertainty. Cites GM CFO noting companies cannot spend billions whipsawing business back and forth due to tariff uncertainty, leading to economic halt.		View
2025 Q1	Apr 11, 2025	Middle Coast Investing	-	-	AAPL, AER, AMZN, ATKR, ATRO, AVGO, BRK.B, CCK, DALN, DFS, ECG, FCNCA, LULU, OMAB, PGR, PTLO, SCHW, SCS, SON, TRIP	aerospace, Airports, infrastructure, insurance, technology, Trade Policy, volatility	Manager expects continued volatility due to Trump administration's erratic policy approach and indifference to stock market performance. Planning to be quicker about buying and selling to take advantage of volatility, with raised cash levels to navigate uncertain environment.	GOOG SON ECG	View
2025 Q1	Mar 31, 2025	NCG Micro Cap Growth Strategy	14.8%	14.8%	ACVA, AGX, AGYS, ALHC, ALKT, ARQ, ATRO, CSTL, CVLG, DAVA, DCBO, FLYW, FROG, GDYN, HROW, IRTC, MRTN, NEO, OLO, PAL, PDFS, PYCR, SDHC, SMWB, TNDM	growth, healthcare, Micro Cap, small caps, technology, valuation	NCG emphasizes investing in what they believe are the fastest growing and highest quality companies in America. They maintain focus on fundamental growth drivers of each holding and seek companies that can grow revenue and profits at strong rates in any economic environment.		View
2025 Q1	Mar 31, 2025	NCG Small Cap Growth Strategy	-13.0%	-13.0%	AGYS, ALHC, ATRO, BROS, CAVA, ELF, FLYW, FRPT, GLBE, INOD, IRTC, OS, PEGA, PEN, PYCR, QNST, SAIA, SDHC, SITM, VERX	earnings, growth, healthcare, industrials, policy, small cap, technology, Valuations	Strong forces driving increased infrastructure spending in the US have been gaining momentum for the past couple years and remain intact. The new administration is working to accelerate this trend and NCG is finding small companies which are direct beneficiaries.		View
2025 Q1	Mar 31, 2025	NCG SMID Cap Growth Strategy	14.1%	14.1%	AGYS, ALHC, AORT, ATEC, ATRO, BROS, CAVA, FLYW, GLBE, INOD, IRTC, OS, PEGA, PEN, QNST, SAIA, SITM, UTI, VERX, WAY	growth, healthcare, industrials, small cap, technology, uncertainty, underperformance	NCG emphasizes investing in what they believe are the fastest growing and highest quality companies in America. They maintain focus on companies that can grow revenue and profits at strong rates in any economic and market environment. The firm continues to seek high-quality growth companies selected using original research combined with strong sell discipline.		View
2025 Q3	Oct 24, 2025	NCG Micro Cap Growth Strategy	4.6%	5.2%	ADMA, ADPT, AEHR, AMPX, AMSC, AORT, APLD, ATRO, BRCF, CCB, CDNA, EVLV, FEIM, KEST, LEU, LMB, OPRX, PAR, PGY, PI, PKE, PL, PRCH, WULF, XMTR, ZETA	AI, defense, growth, Micro Cap, nuclear, Onshoring, small cap	AI infrastructure buildout is spurring significant investment and capital expenditures, driving new growth opportunities for innovative companies across technology, industrials, and energy sectors. The infrastructure needed to support AI development is creating substantial near-term investment opportunities.	ATRO	View
2025 Q3	Oct 2, 2025	Middle Coast Investing	-	-	AAPL, AER, AMZN, ATRO, AVGO, COF, CPAY, DALN, FCNCA, GOGO, GOOG, LULU, LYFT, MSFT, OMAB, PGR, PTLO, SCS, TRIP, TSM	AI, buyouts, insurance, semiconductors, technology, value	Manager discusses AI cautiously, experimenting with it for business operations and research but finding limited practical value so far. Views AI as creating a bubble environment similar to the internet bubble, with many participants admitting it's in a bubble phase. Invests selectively in AI-related companies but maintains natural skepticism.	AL US TFSL US BHF US HI US GOGO US CORP US	View
2025 Q3	Oct 15, 2025	Royce Investment Partners Small Cap	12.9%	9.9%	AIR, AMSC, ATRO, CECO, CRK, FTI, GLOB, KD, KN, KTOS, LAUR, LFMD, MOD, OPRX, PRIM, PSQH, REZI, SOI, SWSS, UCTT	defense, industrials, infrastructure, Outperformance, semiconductors, small caps, technology, value	The Fund is maintaining investment emphasis on infrastructure themes, particularly AI data centers and reindustrialization in the U.S. This encompasses both Industrials and Energy sectors, with infrastructure being a key investment focus area for the portfolio.		View
2024 Q3	Oct 1, 2024	Night Watch Investment Management	-2.9%	10.3%	1126.HK, 2318.HK, ATRO, BC, BLDR, DSGR, JOE, LEG, SEG, VAL, XFAB.PA	Automotive, catalysts, energy, global, Offshore, semiconductors, value	X-FAB is positioned to benefit from the expected bottoming of the semiconductor cycle after 4-6 quarters of downturn. Order intake has turned sharply higher since Q1 with book-to-bill of 1.2x in both quarters. The automotive sector is expected to return to growth in Q4 with industrial and medical recovering during 2025.	XFAB.PA	View
2025 Q4	Jan 9, 2026	Middle Coast Investing	2.7%	16.9%	AAPL, ABM, AER, AMZN, APOG, ATKR, ATRO, AVGO, BHF, CCK, COF, CPAY, ECG, FG, GOGO, GOOG, HI, HNI, HURC, LULU, LYFT, MLKN, OMAB, PAGS, PGR, PTLO, SCHW, TRIP, WS	Bottom-up, Cash, Defensive, Office Furniture, risk management, value	Manager emphasizes bottom-up investing approach, looking for companies that will do better in years ahead when stocks are priced attractively. Seeks good companies at fair prices to protect against market struggles while avoiding missing big years. Primary goal is to avoid blowing up and survive through bad times. Uses rules like not buying whole positions at once, demanding 50% upside, watching leverage, and knowing when to double down. Maintains defensive portfolio positioning. Decade-long investment theme in office furniture companies including Kimball International, Steelcase, and HNI Corporation. Believes return to office theme hasn't played out but might be soon, with order growth showing improvement across major players.		View
2024 Q4	Jan 8, 2025	Middle Coast Investing	-	-	AAPL, ACLS, ADM, AER, AMZN, ATKR, ATRO, AVGO, BKNG, DFS, EB, FCNCA, FG, LULU, OMAB, PGR, PTLO, SCS, TRIP, TSM	Portfolio Management, Restaurants, small caps, technology, Travel, value	Travel is the manager's favorite sector to study and has paid off over the years. TripAdvisor's Viator business finally passed legacy TripAdvisor in revenue in Q3 2024, with the race between Viator's growth and legacy decline now seeming winnable. The manager views travel as offering continued opportunities.	TRIP PTLO	View
2024 Q4	Jan 2, 2025	Night Watch Investment Management	-2.9%	10.3%	1126.HK, 2318.HK, AER, AL, ALLFG.AS, AMRK, ATRO, DSGR, JOE, MELE.BR, MRX.L, RELY, UAL, VAL, XFAB.PA	aerospace, catalysts, China, energy, Europe, global, Onshoring, value	Offshore energy exposure was the largest detractor in 2024, but the thesis remains unchanged. The move from oil & gas production in Western countries to offshore regions like Brazil and Western Africa creates supply/demand mismatch. Day rates for floating rigs have increased from $200k to $500k, though H2 2024 saw a pause due to shortages in subsea equipment and FPSOs.		View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 13, 2026	Fund Letters	Middle Coast Investing	Astronics Corporation	Industrials	Aerospace & Defense	Bull	NASDAQ	Aerospace, Aircraft Systems, Boeing, Entertainment Systems, market leader, Military, Revenue Growth, supply chain	View Pitch
Jan 14, 2026	Seeking Alpha	Seeking Alpha	Astronics Corporation	Aerospace & Defense	Aerospace Products & Parts	Bull	NASDAQ Stock Market	Aerospace, Astronics Corporation, Boeing MAX, Commercial Aviation, EBITDA growth, operating leverage, pandemic recovery, Retrofit Upgrades, U.S. Army Contracts, valuation	View Pitch
Nov 29, 2025	Fund Letters	Tom Press	Astronics Corporation	Industrials	Aerospace & Defense	Bull	NASDAQ	Aerospace, backlog, Contracts, Defense, electronics, leverage, manufacturing, Margins, recovery, valuation	View Pitch

BSD Shareholders of ATRO

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: