Core Viewpoint - The head of AerCap, the world's largest aircraft leasing company, advised against overreacting to recent geopolitical and economic uncertainties, emphasizing the resilience of the aviation financing industry [1] Group 1: Company Insights - AerCap is positioned as the largest aircraft leasing company globally, indicating its significant influence in the aviation financing sector [1] - The leadership at AerCap is focused on maintaining a balanced perspective amidst current market volatility, suggesting a strategic approach to navigating challenges [1] Group 2: Industry Context - The aviation financing industry is characterized by its ability to withstand geopolitical and economic fluctuations, highlighting its robustness [1] - Recent uncertainties in the market have prompted discussions about the future of aviation financing, but industry leaders advocate for a measured response rather than panic [1]

Group 1 - Air Lease announced the delivery of one new Boeing 737-8 aircraft to Air Canada, marking the first of five aircraft scheduled for delivery in 2026 [1] - The CEO of Air Lease emphasized the importance of this delivery to Air Canada's modern and fuel-efficient fleet [2] - Air Lease is a global aircraft leasing company engaged in purchasing new commercial aircraft and leasing them to airline customers worldwide [3] Group 2 - Air Canada is the largest airline in Canada and a founding member of Star Alliance, providing scheduled service to over 180 airports globally [4] - Air Canada's Aeroplan program is a leading travel loyalty program with over 10 million members, offering extensive earning and redemption options [4] - Air Canada aims for net-zero greenhouse gas emissions by 2050 as part of its climate-related ambitions [4]

Core Viewpoint - Willis Lease Finance Corporation announced a quarterly dividend of $0.40 per share, reflecting the strength of its business and commitment to long-term shareholder value [1][2]. Company Overview - Willis Lease Finance Corporation (WLFC) is a leading lessor of commercial aircraft engines and provides global aviation services, including leasing large and regional spare commercial aircraft engines and aircraft to various stakeholders [3]. - The company's services are integrated with engine and aircraft trading, engine lease pools, asset management services, and end-of-life solutions for engines and aviation materials [3]. - WLFC also offers maintenance services through its subsidiaries, including Part 145 engine maintenance, aircraft line and base maintenance, and ground handling services [3].

AerCap (AER) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find it ...

Group 1 - Oakmark Fund's objective is to deliver capital appreciation by investing in diverse large-cap US companies, and in Q4 2025, it outperformed the S&P 500 Index with a return of 4.78% compared to the index's 2.66% [1] - AerCap Holdings N.V. is highlighted as a key stock, with a market capitalization of $25.727 billion, a one-month return of 2.36%, and a 52-week gain of 49.13% [2] - AerCap is recognized as the largest aircraft lessor globally, benefiting from secular growth in global travel demand, and possesses scale advantages that allow for a higher return on equity (ROE) than its peers [3] Group 2 - The management's opportunistic, returns-focused approach to growth is seen as a key driver of AerCap's performance, with shares purchased at a modest premium to book value or a single-digit price-to-earnings (P/E) multiple [3] - AerCap is not among the 30 Most Popular Stocks Among Hedge Funds, with 55 hedge fund portfolios holding its shares at the end of Q3, down from 63 in the previous quarter [4] - While AerCap is acknowledged for its investment potential, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Core Insights - Aviation Capital Group (ACG) has placed a new order for 50 Boeing 737 MAX jets, consisting of 25 737-8 and 25 737-10 airplanes, enhancing its order book significantly [1][2][3] Company Developments - ACG's total order for the Boeing 737 MAX now stands at 121 jets, including 50 firm orders for the 737-10, making it the largest order book for the 737-10 among lessors [3][4] - The new order reflects ACG's commitment to fuel-efficient aircraft technology and supports its growth strategy by providing delivery positions from 2026 to 2033 [3][4] Industry Context - The Boeing 737 MAX family is recognized for its efficiency and flexibility in short- and medium-haul air travel, making it a valuable asset for airplane lessors [4] - Nearly 1,300 737 MAX jets have been ordered by lessors, representing one-fifth of the total backlog for the aircraft [4]

oonal/iStock via Getty Images Listen here or on the go via Apple Podcasts and Spotify Sifting the World's Chris DeMuth Jr. discusses value investing and his top thoughts for the new year (0:25). 2 stocks: Willis Lease and FTAI Aviation (3:00). Relevant risks and metrics (6:50). California First Leasing possibly misunderstood (9:15). Gambling and activist investing (12:20). Healthcare and AI (35:50). Transcript Rena Sherbill: Chris Demuth Jr., who funnily enough, it's been exactly two years since we'v ...

Core Viewpoint - Air Lease (NYSE: AL) provided an update on its aircraft investments and sales for the fourth quarter of 2025, highlighting significant activity in its fleet and financial performance [1]. Aircraft Investments - The company reported total aircraft investments of approximately $920 million, primarily occurring in the second half of the quarter [3]. - As of December 31, 2025, Air Lease's fleet consisted of 490 owned aircraft and 45 managed aircraft, with 218 new aircraft on order from Airbus and Boeing scheduled for delivery through 2031 [1][2]. Sales - Air Lease delivered 10 new aircraft from its orderbook, which included one Airbus A220, two Airbus A321neos, three Boeing 737-8s, one Boeing 737-9, one Boeing 787-9, and two Boeing 787-10s [3]. - The company sold 23 aircraft to third-party buyers, generating sales proceeds of approximately $1 billion for the quarter [3].

Core Insights - The investment landscape for 2026 is perceived as offering deeper and wider opportunities despite high market valuations and indices [2] - Current equity markets are characterized by greed and impatience, leading to a focus on short-term performance rather than long-term value [3] - Investor psychology is shifting towards perceived risk aversion, which may actually be driving them away from areas with genuine mispricing [4] Performance and Net Asset Value - Dynasty Trust reported a quarterly return of -2.29% and a net asset value per unit of $1.3030 as of December 31, 2025 [5] - Over the rolling 12 months, the return was 8.19%, and over two years, it was 12.93% [5] - The inception return of Dynasty Trust stands at 36.74% [5] Market Dynamics - The S&P 500 index saw a significant concentration of performance in its top 10 stocks, which now account for 39.2% of the index [6] - Smaller companies and controlled entities have recently fallen out of favor, impacting the performance of Dynasty Trust [6] Currency Impact - The Australian dollar's fluctuations against the euro and US dollar affected returns, with a 5.5% decline against the euro and a 6% rise against the US dollar in 2025 [7] - The overall impact of currency changes on performance was minimal, costing only 11 basis points [7] Positive Contributors to Performance - Seven securities contributed positively to Dynasty Trust, with Sportradar (SRAD) showing a 68% gain and Catapult International a 54% gain [8] - Other notable contributors included Viel et Cie (48% gain) and Avolta (30% gain) [8] Negative Contributors to Performance - Six securities detracted from returns, with Novo Nordisk (NVO) down 28% due to drug pricing uncertainties [9] - Other significant detractors included Bolloré (19% decline) and EuroEyes International (24% decline) [9] Investment Strategy - The company emphasizes investing in controlled public companies, which historically have shown long-term benefits [11] - The focus is on avoiding dilution of investment skills by steering clear of extraneous factors like stock or currency hedging [11] Market Trends - The technology sector has seen a significant rerating, while other sectors have experienced derating from already pessimistic valuations [13] - A bifurcation in the market is evident, with technology stocks performing well while other sectors lag behind [17] Valuation Insights - Many European holding companies are trading at significant discounts to NAV, with an average discount increasing from 30% to 30.6% over three years [14] - The high pricing of privately held technology companies has widened discounts for European firms, leading to investor skepticism [19] Specific Company Analysis: Hansa Investment Company - Hansa trades at a 44% discount to NAV, with a pro-forma cash exposure of approximately 35% of NAV [32] - The company has initiated share repurchases post-merger with Ocean Wilson, which is expected to enhance NAV [38] Specific Company Analysis: D'leteren - D'leteren is facing challenges due to increased leverage and cyclical pressures, impacting reported profits [41] - The company has initiated a €100 million stock buyback program to manage its capital structure [44] - The valuation of D'leteren's stake in Belron is under scrutiny, with significant skepticism regarding private equity valuations [60]

Core Viewpoint - Willis Lease Finance Corporation (WLFC) and Blackstone Credit & Insurance (BX) have formed a strategic partnership focused on aircraft engine leasing, planning to invest over $1 billion in the next two years in both current and next-generation aircraft engines and select aircraft [1] Group 1: Partnership Details - The partnership combines WLFC's expertise in aircraft engine leasing with Blackstone's extensive private credit capabilities, specifically targeting the engine asset class [1] - WLFC is recognized as a pioneer in aircraft engine leasing and is expanding its asset management platform [1] Group 2: Investment Strategy - WLFC has identified a seed portfolio and a near-term pipeline of high-quality engine assets that are expected to be integrated into the partnership, which will provide immediate scale and diversification across various engine types and airline customers globally [1]