
What smart money is saying about AAR Corp.
2 funds in our archive have pitched AAR Corp. — most recently Tributary Capital Management Small/Mid Cap Equity Strategy in June 2026.
AAR Corp. delivers a wide array of products and services to the global commercial aviation, government, and defense sectors. Its Aviation Services division focuses on comprehensive aftermarket support, encompassing inventory management, distribution, and extensive maintenance, repair, and overhaul (MRO) capabilities, alongside specialized engineering services. This segment is also involved in the sale and leasing of new, reconditioned, and repaired aircraft engine and airframe components. It manages tailored inventory and repair programs, processes warranty claims, and provides outsourcing solutions for these critical parts. Furthermore, it implements performance-based supply chain logistics programs specifically designed for the U.S. Department of Defense and international governmental bodies. A full suite of airframe services is offered, including inspection, maintenance, repair, overhaul, painting, line maintenance, modifications, structural repairs, avionics installation, and both exterior and interior refurbishment, complemented by engineering and support. The company also performs repair and overhaul on vital components such as landing gears, wheels, and brakes. The Expeditionary Services division is dedicated to facilitating the movement of equipment and personnel for the U.S. and international governments, as well as non-governmental organizations (NGOs). Its capabilities extend to the design, manufacturing, and repair of various transportation pallets, containers, and shelters. This segment also provides engineering, design, and system integration expertise for sophisticated command and control systems. AAR's diverse clientele includes both domestic and international passenger and cargo airlines, regional and commuter carriers, business and general aviation operators, original equipment manufacturers (OEMs), aircraft leasing firms, other aftermarket aviation support enterprises, and military customers globally. Its marketing and sales efforts are primarily conducted through its dedicated employees and a network of international sales representatives. Established in 1951, AAR Corp. maintains its corporate headquarters in Wood Dale, Illinois.
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Position history
Between Q1 2026 and Q2 2026, 3 fund letters reported a position in AAR Corp. — 2 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 3 | 2 | 0 | 1 |
| Q1 2026 | 0 | 0 | 0 | 1 |
Fund activity · 3 positions · 2 moves
- June 2026
Listed in Night Watch Investment Management Global Value Strategy’s reported holdings.
AAR Corp. - June 2026
“During the quarter three holdings were added to the portfolio. AAR Corp. is a pure-play aerospace aftermarket company providing parts supply, repair and engineering solutions to commercial and government customers across 20+ countries.”
AAR Corp. - June 2026
“We initiated our position after the valuation declined on fears that AI would displace its business.”
AAR Corp.
Fund coverage · 2 theses
AAR Corp. is an aerospace aftermarket company with durable demand, high barriers to entry and a path to double-digit earnings growth.
Read the full thesis- Night Watch IMMarch 2026
AAR Corp is an aircraft aftermarket services provider benefiting from an aging global fleet, a mix shift to higher-margin component services, and rapidly growing defense-contract exposure.
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