Honeywell Aerospace Inc.

• MR Merion Road Capital Q2 2026 ↗ Honeywell Aerospace was added after its separation from Honeywell, with conservative guidance and a discount to peers seen as setting a low hurdle for execution. United Bancorporation of Alabama faced an open-letter campaign seeking better capital allocation, lower expense growth, improved profitability and stronger governance. Q2 2026 HONA $48B
• BA Broyhill Asset Management The Broyhill Letter 2026 Q1 ↗ Broyhill attributes the quarter’s shortfall to its lack of energy exposure, overseas holdings and defensive-sector positions, while arguing that portfolio companies’ fundamentals remain intact. It sold Ball, Kenedy Wilson, Fresenius Medical Care, Evolution and Avantor, and added Microsoft, Smurfit WestRock, Sotera Health, Masco and Floor and Décor amid dislocations. 2026.Q1 IQV $42BAVTR $11BBALL $15B +4
• BA Broyhill Asset Management The Broyhill Letter 2026.Q2 ↗ Broyhill transfers ownership from Chris Pavese to Patrick Wells and Matt McLean while retaining its investment process and client relationships. The portfolio avoided direct semiconductor exposure, exited Accenture, HubSpot and Intuit, and added or expanded positions including ServiceNow, First Citizens BancShares, Nestlé, Masco, Sotera Health and IQVIA on company-specific catalysts. second quarter 2026 0QR4 ACN $118BFCNCA $24B +6

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