Group 1 - The article emphasizes the importance of in-depth research on various investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs, highlighting the value of joining iREIT on Alpha for comprehensive insights [1] - Leo Nelissen is identified as a long-term investor and macro-focused strategist, known for his focus on dividend growth and high-quality compounders, combining macro analysis with stock research to find businesses with strong cash-flow potential [1] Group 2 - The article does not provide specific financial data or performance metrics related to any company or industry [2][3]

Industry Overview - The U.S. defense budget continues to increase, with the E.U. also planning a nearly $1 trillion remilitarization program, focusing on artificial intelligence (AI) and drones for military enhancement [1] Company Highlights Dassault Aviation (EPA: AM) - Dassault Aviation, known for the Rafale multirole fighter, has seen its stock rise by 52.94% over the last 12 months, trading at €312.60 ($362.89) as of January 16 [3] - The company is expected to benefit from the E.U.'s rearmament program and has invested $200 million in Harmattan AI to enhance capabilities in electronic warfare, drone interception, and surveillance [6] Howmet Aerospace (NYSE: HWM) - Howmet Aerospace has experienced significant growth, with its stock increasing by 82.81% over the past year, reaching $224.82 [8] - The company's strong performance is attributed to a 14% revenue growth in 2025 and a shift towards higher-margin aftermarkets and critical engine components [9] - The stock rally is expected to continue, especially if the U.S. military budget increases to $1.5 trillion as proposed [10] Mercury Systems (NASDAQ: MRCY) - Mercury Systems specializes in mission-critical processing technologies for defense and aerospace, with its stock rising by 40.99% since the start of 2026, reaching an all-time high of $102.94 [11] - The recent stock surge is driven by a $60 million contract for U.S. strategic and space weapons programs, utilizing Mercury's advanced data processing capabilities [13] - The company is likely to maintain its growth trajectory due to its long-standing government contracts and the duration of the new contract extending through 2031 [14]

Core Viewpoint - Antero Midstream Corporation declared a cash dividend of $0.225 per share for Q4 2025, marking the 45th consecutive quarterly dividend since its IPO in November 2014 [2]. Group 1: Dividend and Share Repurchase - The cash dividend of $0.225 per share translates to an annualized rate of $0.90 per share, payable on February 11, 2026, to stockholders of record as of January 28, 2026 [2]. - During Q4 2025, the company repurchased approximately 2.7 million shares for about $48 million, with $336 million remaining under its $500 million authorized share repurchase program as of December 31, 2025 [2]. Group 2: Earnings Release and Conference Call - Antero Midstream plans to release its Q4 2025 earnings on February 11, 2026, after the close of trading on the New York Stock Exchange [3]. - A conference call to discuss the financial and operational results is scheduled for February 12, 2026, at 10:00 am MT, with a Q&A session for security analysts to follow [3]. Group 3: Company Overview - Antero Midstream Corporation is a Delaware corporation that owns, operates, and develops midstream gathering, compression, processing, and fractionation assets located in the Appalachian Basin, along with integrated water assets primarily servicing Antero Resources Corporation's properties [4].

Core Insights - Harmattan AI has secured a $200 million Series B funding round led by Dassault Aviation to enhance the integration of AI and controlled autonomy in combat aviation systems [2][3] - The partnership aims to expand Harmattan AI's capabilities in autonomous systems, particularly in ISR, drone interception, and electronic warfare platforms, in response to increasing global demand [3][5] Company Overview - Harmattan AI, founded in 2024, specializes in vertically integrated autonomous systems, including air-defense solutions and coordinated ISR and strike UAVs, and has rapidly become a significant player in the defense technology sector [6] - Dassault Aviation has a long history in military and civil aircraft production, with over 10,000 aircraft delivered globally and reported revenues of €6.2 billion in 2024 [7] Strategic Partnership - The collaboration between Dassault Aviation and Harmattan AI is focused on developing advanced AI capabilities for future air combat systems, including the Rafale F5 and UCAS, enhancing the control of unmanned aerial systems [4][5] - This partnership is positioned as a critical step towards the development of a new generation of autonomous defense systems, leveraging Dassault Aviation's expertise in military platform architecture and international business development [5]

Group 1 - The company is a French corporation with a share capital of 62,717,627.20 euros [2] - The headquarters will be located at 78, quai Marcel Dassault, 92210 SAINT-CLOUD starting January 1, 2026 [2] - As of December 31, 2025, the total number of shares is 78,397,034, with theoretical voting rights amounting to 130,565,879 [2][3] - The exercisable voting rights are recorded at 129,706,429 [2]

Company Overview - Antero Midstream Corporation is a leading midstream energy company that operates an integrated infrastructure network providing essential gathering, processing, and water services to natural gas producers in the Appalachian Basin [9] - The company primarily generates revenue from gathering pipelines, compressor stations, and water handling facilities, focusing on supporting Antero Resources' production in West Virginia and Ohio [8] Recent Developments - Ripple Effect Asset Management disclosed a new position in Antero Midstream, acquiring 510,000 shares valued at approximately $9.91 million, which represents 1.94% of the firm's 13F reportable assets [2][3][6] - As of the latest filing, Antero Midstream shares were priced at $17.94, reflecting a 16% increase over the past year, aligning closely with the S&P 500's nearly 17% gain during the same period [4] Financial Performance - Antero Midstream reported a 10% year-over-year increase in adjusted EBITDA to $281 million, while free cash flow after dividends nearly doubled to $78 million [11] - The company's leverage declined to 2.7x, capital spending decreased, and it repurchased $41 million of stock during the quarter, indicating a strong cash flow position and a tightening balance sheet [11] Investment Strategy - The acquisition of both put and call options alongside common shares suggests an investor strategy aimed at engineering outcomes rather than merely collecting yield, which is notable for a midstream company typically viewed as a cash-flow vehicle [10] - The presence of put options indicates a strategy for downside protection against commodity or rate-driven volatility, while call options may enhance returns if market conditions improve [12]

Core Viewpoint - Ripple Effect Asset Management has initiated a significant new position in Antero Midstream Corporation, acquiring 510,000 shares valued at approximately $9.91 million, while also holding put and call options, indicating a strategic approach to risk-reward management [2][3][6]. Company Overview - Antero Midstream Corporation is a leading midstream energy company that provides essential gathering, processing, and water services to natural gas producers, primarily in the Appalachian Basin [5][8]. - The company reported a revenue of $1.25 billion and a net income of $472.42 million for the trailing twelve months (TTM), with a dividend yield of 5% [5]. Recent Performance - Antero Midstream's stock price was $17.94, reflecting a 16% increase over the past year, which is in line with the S&P 500's nearly 17% gain during the same period [4]. - The company's third-quarter results showed a 10% year-over-year increase in adjusted EBITDA to $281 million, with free cash flow after dividends nearly doubling to $78 million [9]. Investment Strategy - The combination of common shares with both put and call options suggests that investors are engineering specific outcomes rather than merely seeking yield, which is notable for a midstream company typically viewed as a cash-flow vehicle [6][10]. - The put options indicate a strategy for downside protection against volatility, while the call options suggest potential upside if market conditions improve [10].

Group 1 - The article emphasizes the importance of returning to normalcy after the holiday season, indicating a preference for routine over the unpredictability of holiday schedules [1] - Leo Nelissen is identified as an analyst focusing on significant economic developments related to supply chains, infrastructure, and commodities, contributing to iREIT®+HOYA Capital [1] - The analysis aims to provide actionable investment ideas with a focus on dividend growth opportunities, highlighting the potential for income generation in the investment landscape [1]

Core Insights - The article emphasizes the importance of in-depth research on various income-generating investment vehicles such as REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] Group 1: Analyst Background - Leo Nelissen is identified as an analyst focusing on significant economic developments related to supply chains, infrastructure, and commodities [2] - He is a contributing author for iREIT®+HOYA Capital, aiming to provide insightful analysis and actionable investment ideas, particularly in dividend growth opportunities [2] Group 2: Analyst's Position - The analyst has disclosed a beneficial long position in shares of AM, UNP, RTX, and REXR through stock ownership, options, or other derivatives [3] - The article expresses the analyst's own opinions and indicates that no compensation is received for the article, aside from Seeking Alpha [3] Group 3: Disclosure Information - Seeking Alpha clarifies that past performance is not indicative of future results and does not provide recommendations or advice on investment suitability [4] - The views expressed may not reflect those of Seeking Alpha as a whole, and the analysts are third-party authors, including both professional and individual investors [4]

Core Insights - The market is perceived as expensive, a sentiment echoed by various analysts throughout the year [1]. Group 1: Market Analysis - The discussion around market valuation has been prevalent among major analysts, indicating a consensus on the high cost of investments [1]. Group 2: Analyst Contributions - Leo Nelissen focuses on significant economic developments related to supply chains, infrastructure, and commodities, contributing to the iREIT®+HOYA Capital team [1].