The intelligence layer for defense investors, founders, and executives who need more than the headlines
Industrial Base Alpha (“IBA”) is published by Industrial Base Alpha LLC, a Virginia limited liability company. IBA provides independent market research, analysis, and commentary focused on the defense industrial base, including coverage of publicly traded defense and aerospace companies, private capital markets activity, procurement dynamics, and related policy developments.
IBA is not a registered investment adviser with the U.S. Securities and Exchange Commission, any state securities commission, or any other regulatory authority. Nothing published by IBA, whether through its Substack newsletter, website, advisory reports, or any other medium, constitutes investment advice, a recommendation to buy or sell any security, or a solicitation of any offer to buy or sell securities or other financial instruments.
IBA publications do not take into account the specific investment objectives, financial situation, or particular needs of any individual reader or client. Any discussion of publicly traded companies, valuations, market trends, or capital flows is provided for general informational and educational purposes only and should not be construed as a recommendation or endorsement of any particular investment or investment strategy.
Receipt of, subscription to, or engagement with any IBA publication or service does not create an advisory, fiduciary, or professional-client relationship between IBA and the reader. Readers and clients are solely responsible for their own investment decisions and should consult qualified legal, financial, and tax professionals regarding their specific circumstances before making any investment.
IBA obtains information from sources believed to be reliable, including but not limited to SEC filings, press releases, earnings transcripts, and publicly available data. However, IBA makes no representation or warranty, express or implied, regarding the accuracy, completeness, or timeliness of any information published. All analysis and commentary reflect the author’s views as of the date of publication and are subject to change without notice.
The author and affiliated persons may hold positions, long or short, in securities discussed in IBA publications and may trade in those securities before, during, or after publication without notice. When material conflicts of interest exist with respect to a specific company discussed in an IBA publication, IBA will disclose such conflicts within the relevant article.
IBA, its author, employees, and affiliates expressly disclaim all liability for any direct, indirect, incidental, or consequential losses or damages arising from the use of, reliance on, or inability to use any information published by IBA. Past performance of any investment discussed is not indicative of future results. The value of investments can fluctuate, and investors may receive less than they originally invested.
All content published by IBA is the property of Industrial Base Alpha LLC. No part of any IBA publication may be reproduced, redistributed, or transmitted without prior written consent.
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