What smart money is saying about Mercury Systems
2 funds in our archive have pitched Mercury Systems, most recently Aristotle Small Cap Equity Strategy in September 2026.
Mercury Systems, Inc. is a technology firm dedicated to the creation and delivery of a wide range of advanced components, modules, and integrated subsystems, primarily catering to the aerospace and defense industries. The company's operations span globally, with a presence in the United States, Europe, and the Asia Pacific regions. Its sophisticated solutions are vital to approximately 300 programs, supporting 25 defense contractors and numerous commercial aviation customers. The company's extensive product line includes intricate components such as power amplifiers, limiters, switches, oscillators, filters, equalizers, digital and analog converters, various chips, monolithic microwave integrated circuits (MMICs), and advanced memory and storage devices. Furthermore, it offers sophisticated modules and sub-assemblies, including embedded processing boards, switched fabric boards, digital receiver boards, multi-chip modules, integrated radio frequency (RF) and microwave multi-function assemblies, tuners, transceivers, as well as specialized graphics, video, Ethernet, and input/output boards. Mercury Systems also supplies complete integrated subsystems. Beyond these offerings, the company is actively involved in designing and developing critical technologies like digital radio frequency memory units for modern electronic warfare applications, radar environment simulation and test systems for defense and intelligence operations, signals intelligence payloads and electro-optical/infrared (EO/IR) technologies optimized for small unmanned aerial vehicle (UAV) platforms, and advanced onboard UAV processor systems facilitating real-time wide area motion imagery. Established in 1981, the firm, initially named Mercury Computer Systems, Inc., officially rebranded to Mercury Systems, Inc. in November 2012, and its headquarters are located in Andover, Massachusetts.
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Position history
Between Q2 2025 and Q3 2026, 12 fund letters reported a position in Mercury Systems, with no move described.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 5 | 0 | 0 | 1 |
| Q2 2026 | 5 | 0 | 0 | 1 |
| Q3 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 12 positions
- September 2026
“• Mercury Systems (MRCY), is a developer of mission critical computing, signal processing, software, and secure electronics technologies used in aerospace and defense applications. The stock declined over the quarter as higher operating expenses, weaker free cash flow, and below-target fiscal 2027 cash flow guidance overshadowed record revenue and bookings. Despite strong demand and a growing backlog, investor concerns regarding the pace of margin recovery and cash flow improvement weighed on the stock. We maintain our position as we believe Mercury Systems is emerging from a multi-year operational reset, with improving execution, expanding margins, and lower leverage.”
Mercury Systems - September 2026
“Weakness was broad-based among several of our larger holdings, including Mercury Systems, Inc. (MRCY), AAON, Inc. (AAON), SPX Technologies, Inc. (SPXC), and UL Solutions, Inc. (ULS), each of which declined more than 20% during the quarter.”
Mercury Systems - September 2026
“Weakness was broad-based among several of our larger holdings, including Mercury Systems, Inc. (MRCY), AAON, Inc. (AAON), SPX Technologies, Inc. (SPXC), and UL Solutions, Inc. (ULS), each of which declined more than 20% during the quarter.”
Mercury Systems - HoldsBaron Discovery FundSeptember 2026
“Shares of Mercury Systems, Inc. declined amid increasingly negative sentiment toward the defense sector, driven by concerns about the implications of a potential change in congressional control following the mid-term elections.”
Mercury Systems - HoldsBaron SMID Cap ETFSeptember 2026
“Mercury Systems, Inc. is a technology company that supplies processing subsystems, ruggedized electronics, and mission- critical components to aerospace and defense prime contractors and the U.S. government.”
Mercury Systems - HoldsBaron Discovery FundJune 2026
Listed in Baron Discovery Fund’s reported holdings.
Mercury Systems - June 2026
“Mercury Systems (MRCY) , is a developer of mission critical computing, signal processing, software, and secure electronics technologies used in aerospace and defense applications. The stock was rewarded for the company’s successful acceleration of deliveries on several high priority defense programs, alongside continued progress on its restructuring initiatives and cost reduction efforts. We maintain our position as we believe Mercury Systems is emerging from a multi-year operational reset, with improving execution, expanding margins, and lower leverage.”
Mercury Systems - June 2026
“• Mercury Systems (MRCY), is a developer of mission critical computing, signal processing, software, and secure electronics technologies used in aerospace and defense applications. The stock was rewarded for the company’s successful acceleration of deliveries on several high priority defense programs, alongside continued progress on its restructuring initiatives and cost reduction efforts. We maintain our position as we believe Mercury Systems is emerging from a multi- year operational reset, with improving execution, expanding margins, and lower leverage.”
Mercury Systems - June 2026
“• Mercury Systems (MRCY), is a developer of mission critical computing, signal processing, software, and secure electronics technologies used in aerospace and defense applications. The stock was rewarded for the company’s successful acceleration of deliveries on several high priority defense programs, alongside continued progress on its restructuring initiatives and cost reduction efforts. We maintain our position as we believe Mercury Systems is emerging from a multi- year operational reset, with improving execution, expanding margins, and lower leverage.”
Mercury Systems “1. Mercury Systems, Inc. (MRCY) MRCY provides mission-critical electronics and processing technologies for aerospace and defense applications.”
Mercury Systems- HoldsConestogaSeptember 2025
“Mercury Systems, Inc. (MRCY) MRCY is a leading designer and manufacturer of advanced electronics and subsystems for aerospace and defense applications.”
Mercury Systems - HoldsSycamore Small Cap Value EquityJune 2025
Listed in Sycamore Small Cap Value Equity’s reported holdings.
Mercury Systems
Also mentioned · 1
These funds discuss Mercury Systems as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedLVS Advisory Curtiss WrightJune 2025
Named in a table in LVS Advisory Curtiss Wright’s letter.
Mercury Systems
Fund coverage · 2 theses
- Aristotle Small Cap Equity StrategySeptember 2026
Mercury Systems develops mission-critical electronics for aerospace and defense and is seen as emerging from an operational reset with attractive valuation and improving margins.
Read the full thesis Mercury Systems provides mission-critical aerospace and defense electronics and is held for its operational turnaround, expanding margins, lower leverage, and attractive valuation.
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