
What smart money is saying about Butler National Corp
1 fund in our archive has pitched Butler National Corp — most recently Merion Road Capital in March 2025.
Butler National Corporation, together with its subsidiaries, engages in the designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems worldwide. The company operates in two segments, Aerospace Products and Professional Services. The Aerospace Products segment provides aircraft modifications, which include business-size aircraft from passenger to freighter configuration, radar systems, addition of aerial photography capabilities, intelligence surveillance reconnaissance modifications, and stability enhancing modifications for Learjet, Beechcraft, Cessna, and Dassault Falcon aircraft along with other specialized modifications. This segment also manufactures, sells, and services electronics upgrades for classic weapon control systems that are used on military aircraft and vehicles; and sells, installs, and repairs avionics equipment, including airplane radio equipment and flight control systems, as well as troubleshoots and repairs autopilot systems. The Professional Services segment engages in the management of Boot Hill Casino and Resort, a gaming facility, as well as related dining and entertainment facilities in Dodge City, Kansas. This segment also provides architectural services, such as commercial and industrial building design, and engineering services. The company also acquires, refurbishes, and sells airplanes, primarily Learjets. It serves the aviation industry, including owners and operators of single-engine, commercial, regional, business, and military aircraft. Butler National Corporation was incorporated in 1960 and is headquartered in Olathe, Kansas.
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Position history
Between Q1 2025 and Q3 2026, 1 fund letter reported a position in Butler National Corp, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q1 2025 | 0 | 0 | 0 | 1 |
Fund activity · 1 position
- HoldsMerion Road Capital Merion Road Small Cap FundJuly 2026
“Results were broad-based and included notable gains from several long-term holdings like Bel Fuse, Butler National, and Monarch Cement.”
Read the letterButler National Corp
Fund coverage · 1 thesis
- Merion Road CapitalMarch 2025
Butler National Corp is an undervalued investment opportunity with improved corporate governance, diverse revenue streams from a casino and an aircraft modification business, and potential for significant shareholder returns.
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