Tourlite Capital Management·2026-05-15·via All Articles on Seeking Alpha
Summary
Despite higher net exposure, Tourlite Capital's percentage of idiosyncratic risk remained in the ~80% range.
Montana Aerospace currently trades at less than 7x 2027E EBITDA, a staggering discount compared to its peer group’s low-to-mid teens multiple.
FTAI Aviation continues capturing market share, currently ~12% of the CFM56 aftermarket, up from 5% just two years ago.
FTAI Infrastructure executed the first major step in its asset monetization strategy by announcing the sale of its Long Ridge power asset for a total enterprise value of $1.52 billion.
Tourlite Capital expects the highly anticipated SpaceX IPO will create a particularly favorable setup for shorting high multiple, speculative stocks.
During the quarter, our average dollar net exposure was 33% and beta-adjusted net exposure was 43%. Gross exposure ranged between ~200% and ~265%, with an average of 242%. Despite this
