AA&D Holdings discloses 138M AADX share stake

AA&D Holdings, LP filed an initial ownership report for Applied Aerospace & Defense, Inc..

Rhea-AI Filing Summary

AA&D Holdings, LP filed an initial ownership report for Applied Aerospace & Defense, Inc.. The filing shows AA&D Holdings directly holds 138,243,518 shares of common stock, making it a significant, more than ten percent owner of the company.

AA&D Holdings is a Delaware limited partnership managed by affiliates of Greenbriar Equity Group. Voting and dispositive power over these shares is exercised by a board of managers, which includes director Noah Roy. The affiliated entities disclaim beneficial ownership of the securities except to the extent of their pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider AA&D Holdings, LP

Role 10% Owner

Type	Security	Shares	Price	Value
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 138,243,518 shares (Direct)

Footnotes (1)

1. F1. AA&D Holdings, LP is a Delaware limited partnership managed by affiliates of Greenbriar Equity Group, L.P. GB Eagle GP, LLC ("GB Eagle GP") is the general partner of AA&D Holdings, LP. Greenbriar Equity Capital V, L.P. ("Greenbriar Equity Capital") is the sole member of GB Eagle GP. Greenbriar Equity Capital is controlled by its general partner, Greenbriar Holdings V, LLC, which is managed by a board of managers (the "Board of Managers"). Voting and dispositive power of the securities held directly by AA&D Holdings, LP is exercised by majority vote of the Board of Managers, which includes Noah Roy, who also serves as a member of the Company's board of directors. Each of the foregoing persons disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.

Key Figures

Common stock held: 138,243,518 shares

1 metrics

Common stock held 138,243,518 shares Total shares beneficially owned following the reported holdings

Key Terms

ten percent owner, beneficial ownership, voting and dispositive power, limited partnership, +1 more

5 terms

ten percent owner financial

"is_ten_percent_owner: 1"

beneficial ownership financial

"disclaims beneficial ownership of the securities except to the extent of its pecuniary interest"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

voting and dispositive power financial

"Voting and dispositive power of the securities held directly by AA&D Holdings, LP is exercised by majority vote"

limited partnership financial

"AA&D Holdings, LP is a Delaware limited partnership"

A limited partnership is a legal business structure with two types of partners: at least one general partner who runs the business and bears full legal responsibility, and one or more limited partners who contribute money, share profits, and have liability capped at their investment. For investors, it matters because it separates control from financial exposure — like putting money into a store without managing it — and affects how returns, risks, taxes and transferability of ownership are handled.

board of managers financial

"managed by a board of managers (the "Board of Managers")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does AA&D Holdings, LP report owning in Applied Aerospace & Defense (AADX)?

AA&D Holdings, LP reports direct ownership of 138,243,518 shares of Applied Aerospace & Defense common stock. This stake makes it a significant, more than ten percent owner, as disclosed in the initial Form 3 beneficial ownership filing.

What is the purpose of this Form 3 for Applied Aerospace & Defense (AADX)?

This Form 3 serves as an initial statement of beneficial ownership, showing AA&D Holdings, LP’s existing stake in Applied Aerospace & Defense. It does not report new purchases or sales, but formally discloses that the holder is a more than ten percent owner.

Who controls voting power over AA&D Holdings, LP’s AADX shares?

Voting and dispositive power over the AADX shares held by AA&D Holdings, LP is exercised by a board of managers. This board includes Noah Roy, who also serves as a member of Applied Aerospace & Defense’s board of directors.

How is AA&D Holdings, LP related to Greenbriar Equity Group in the AADX filing?

AA&D Holdings, LP is managed by affiliates of Greenbriar Equity Group, L.P.. GB Eagle GP, LLC is its general partner, and Greenbriar Equity Capital V, L.P. is the sole member of GB Eagle GP, establishing a control chain over the partnership’s holdings.

What beneficial ownership disclaimer is included in the AADX Form 3?

The filing states that each related entity and individual disclaims beneficial ownership of the securities, except to the extent of its pecuniary interest. This clarifies they are not claiming full economic ownership beyond their direct financial stakes in AA&D Holdings, LP.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/03/2026 - 06:45 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

AA&D Holdings, LP

(Last) (First) (Middle)

C/O GREENBRIAR EQUITY GROUP, L.P.

1 GREENWICH PLAZA

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
06/03/2026

3. Issuer Name and Ticker or Trading Symbol
Applied Aerospace & Defense, Inc. [ AADX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	138,243,518	D(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. AA&D Holdings, LP is a Delaware limited partnership managed by affiliates of Greenbriar Equity Group, L.P. GB Eagle GP, LLC ("GB Eagle GP") is the general partner of AA&D Holdings, LP. Greenbriar Equity Capital V, L.P. ("Greenbriar Equity Capital") is the sole member of GB Eagle GP. Greenbriar Equity Capital is controlled by its general partner, Greenbriar Holdings V, LLC, which is managed by a board of managers (the "Board of Managers"). Voting and dispositive power of the securities held directly by AA&D Holdings, LP is exercised by majority vote of the Board of Managers, which includes Noah Roy, who also serves as a member of the Company's board of directors. Each of the foregoing persons disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.

	AA&D Holdings, LP, By: GB Eagle GP, LLC, its general partner, By: /s/ Noah Blitzer, Vice President	06/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)