What smart money is saying about Lockheed Martin Corporation
2 funds in our archive have pitched Lockheed Martin Corporation — most recently Royal London AM Global Equity Income Fund in June 2026.
Lockheed Martin Corporation stands as a prominent global security and aerospace enterprise, specializing in the comprehensive lifecycle of advanced technological systems. Its expertise spans the research, design, development, manufacturing, integration, and ongoing sustainment of cutting-edge products and services across the world. The company's diverse operations are structured into four key segments: Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space. The Aeronautics division is responsible for creating and producing leading-edge combat and air mobility aircraft, alongside unmanned aerial vehicles and their related innovations. The Missiles and Fire Control segment delivers sophisticated air and missile defense systems; tactical and precision air-to-ground weapon systems; comprehensive logistics; advanced fire control; mission operations, readiness, engineering support, and integration services; both crewed and uncrewed ground vehicles; and energy management solutions. Within the Rotary and Mission Systems segment, the portfolio includes military and commercial helicopters, naval surface ships, land and sea-based missile defense systems, advanced radar technologies, maritime and airborne mission and combat systems, intricate command and control solutions, cybersecurity services, and simulation and training platforms. The Space division focuses on satellites, space transportation systems, strategic, advanced strike, and defensive missile systems, as well as classified systems and services vital for national security. This segment further enhances situational awareness through network enablement, integrating space and ground-based systems to empower customers in gathering, analyzing, and securely distributing crucial intelligence data. Lockheed Martin primarily serves the United States government, alongside fulfilling foreign military sales facilitated through U.S. government contracts. Established in 1912, the corporation maintains its headquarters in Bethesda, Maryland.
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Position history
Between Q1 2026 and Q3 2026, 9 fund letters reported a position in Lockheed Martin Corporation — 1 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 7 | 1 | 1 | 1 |
| Q1 2026 | 1 | 0 | 0 | 1 |
Fund activity · 9 positions · 2 moves
- July 2026
“Global equities experienced mixed fortunes as investors digested macroeconomic signals and a subtle shift in central bank policy expectations. There was significant intra-month volatility and in the final days of July, global semiconductor and related technology stocks suffered a severe valuation reset, erasing over $1 trillion in market value. The fund outperformed its benchmark in July, benefiting significantly from a sharp pullback in several semiconductor and AI infrastructure beneficiaries that had previously driven market gains. However, a number of our semiconductor and hardware holdings also experienced sharp falls during the month. The next month or two will likely be shaped by three things: central bank messaging, inflation data and earnings delivery. Markets do not need perfect macro data to remain buoyant, but they do need enough evidence that inflation is not reaccelerating and that earnings expectations, particularly among US technology companies, are still realistic. Royal London Global Equity Diversified Fund (IRL) Global equities experienced mixed fortunes as investors digested macroeconomic signals and a subtle shift in central bank policy expectations. There was significant intra-month volatility and in the final days of July, global semiconductor and related technology stocks suffered a severe valuation reset, erasing over $1 trillion in market value. The fund outperformed its benchmark in July, benefiting significantly from a sharp pullback in several semiconductor and AI infrastructure beneficiaries that had previously driven market gains. However, a number of our semiconductor and hardware holdings also experienced sharp falls during the month. The next month or two will likely be shaped by three things: central bank messaging, inflation data and earnings delivery. Markets do not need perfect macro data to remain buoyant, but they do need enough evidence that inflation is not reaccelerating and that earnings expectations, particularly among US technology companies, are still realistic. Royal London Global Equity Income Fund Global equities experienced mixed fortunes as investors digested macroeconomic signals and a subtle shift in central bank policy expectations. There was significant intra-month volatility and in the final days of July, global semiconductor and related technology stocks suffered a severe valuation reset, erasing over $1 trillion in market value. The fund outperformed, which was the result of a broad range of factors. Positive stock selection came from industrials, driven by holdings including Wolters Kluwer, Hensoldt and Lockheed Martin.”
Lockheed Martin Corporation - June 2026
“Lockheed Martin, the defence contractor, reversed some of its March quarter’s share price gain by falling 15.1%. Its first quarter results were mildly disappointing, and together with the tempering war, this probably led to the poor performance. It trades in-line with our valuation, and we intend to maintain the Fund’s current position of 2.5%.”
Lockheed Martin Corporation - June 2026
“Lockheed Martin, the defence contractor, reversed some of its March quarter’s share price gain by falling 15.1%. Its first quarter results were mildly disappointing, and together with the tempering war, this probably led to the poor performance. It trades in-line with our valuation, and we intend to maintain the Fund’s current position of 2.5%.”
Lockheed Martin Corporation - June 2026
“The ceasefire also weighed on Lockheed Martin, which gave back part of a strong first quarter and detracted 55 bps. Our fundamental assessment is unchanged: conflict on European soil and Washington's pressure on NATO allies continue to drive demand for the company's systems sharply higher. But that demand comes with a twist — a business model that now requires heavier investment and carries more risk than Lockheed used to. Having trimmed the position close to its peak in the first quarter, we are comfortable with what we hold today.”
Lockheed Martin Corporation - June 2026
“Much of the negative attribution over the quarter came from stocks that we do not own, especially those related to the AI-memory boom. Not holding Lam Research and KLA Corp had a negative effect on relative returns. In addition, holdings in the defence sector, including Northrup Grumann and Lockheed Martin gave back some gains from the previous quarter.”
Lockheed Martin Corporation - New positionRoyal London AM Global Equity Income FundJune 2026
“Transactions during the quarter included the purchase of new positions in Lockheed Martin and NVIDIA. These trades, alongside some additions to energy and consumer-linked holdings, were funded through exiting our positions in Broadcom and Eli Lilly and by trimming a broad range of AI compute beneficiaries. We initiated the position in Lockheed Martin as part of efforts to protect capital in the event of prolonged heightened geopolitical tensions.”
Lockheed Martin Corporation - June 2026
“In addition, holdings in the defence sector, including Northrup Grumann and Lockheed Martin gave back some gains from the previous quarter.”
Lockheed Martin Corporation - June 2026
“Lockheed Martin (LMT) was our second-largest detractor during the quarter, declining 15.7%.”
Lockheed Martin Corporation - March 2026
“Lockheed Martin: LMT was a top contributor for the quarter, gaining 26% as the onset of the U.S.–Iran conflict in late February drove a significant re-rating of defense spending expectations.”
Lockheed Martin Corporation
Also mentioned · 1
These funds discuss Lockheed Martin Corporation — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedBaron SMID Cap StrategyJune 2026
“Finally, the company also changed its CEO, with Tony Koblinski stepping back to the board on his way to retirement. We very much liked Tony’s leadership and admired his construction of the company as it exists today. We have now met with new CEO Jon Rambeau multiple times, and we are confident that he will be able to move Karman to the next level. Jon is a mechanical engineer with a fantastic breadth of experience at Lockheed Martin and L3Harris Technologies.”
Lockheed Martin Corporation
Fund coverage · 2 theses
Lockheed Martin Corporation is held for capital protection, broad exposure to US and allied defence procurement, and an undemanding valuation with sustainable dividends.
Read the full thesisLockheed Martin is described as a high-quality defense franchise with durable earnings, strong cash generation, and long revenue visibility.
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