AA&D Holdings, LP filed as a major shareholder of Applied Aerospace & Defense, Inc., reporting beneficial ownership of 126,786,731 shares of common stock.
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AA&D Holdings, LP filed as a major shareholder of Applied Aerospace & Defense, Inc., reporting beneficial ownership of 126,786,731 shares of common stock. This represents 73.5% of the outstanding common stock, based on 172,393,518 shares outstanding after giving effect to the underwriters' option to purchase an additional 1,650,000 shares as referenced in the issuer's quarterly report. AA&D Holdings has sole voting and sole dispositive power over all reported shares. The shares are held directly by AA&D Holdings, which is managed and controlled through affiliates of Greenbriar Equity Group, L.P., including GB Eagle GP, LLC and Greenbriar Equity Capital V, L.P.
Key Figures
Shares beneficially owned:126,786,731 sharesPercent of class:73.5%Shares outstanding basis:172,393,518 shares+1 more
Percent of class73.5%Portion of Applied Aerospace & Defense common stock held by AA&D Holdings
Shares outstanding basis172,393,518 sharesCommon stock outstanding used to calculate ownership percentage
Underwriters’ option shares1,650,000 sharesAdditional shares from underwriters’ option included in outstanding share count
Key Terms
beneficial ownership, sole voting power, sole dispositive power, underwriters' option, +1 more
5 terms
beneficial ownershipfinancial
"Such amount reflects the Reporting Person's beneficial ownership as of the date"
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.
sole voting powerfinancial
"5 | Sole Voting Power 126,786,731.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive powerfinancial
"7 | Sole Dispositive Power 126,786,731.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
underwriters' optionfinancial
"after giving effect to the exercise of the underwriters' option to purchase"
An underwriters' option is a short-term right given to the banks handling a new stock or bond sale to buy extra shares from the issuer, usually up to a fixed percentage, to stabilize the price after the offering. For investors this acts like a safety valve: it can reduce wild price swings by allowing underwriters to add or return shares as demand changes, which helps prevent a newly issued security from falling or spiking sharply.
percent of classfinancial
"(b) | Percent of class: See response to row 11 on the cover page"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What percentage of Applied Aerospace & Defense (AADX) does AA&D Holdings own?
AA&D Holdings reports beneficial ownership of 73.5% of Applied Aerospace & Defense’s common stock. This percentage is based on 172,393,518 shares outstanding, as referenced in the company’s Form 10-Q after an underwriters’ option exercise.
How many AADX shares does AA&D Holdings beneficially own?
AA&D Holdings beneficially owns 126,786,731 shares of Applied Aerospace & Defense common stock. These shares are held directly by AA&D Holdings, with affiliates of Greenbriar Equity Group, L.P. exercising voting and dispositive control over the position.
What is the share count base for AA&D Holdings’ 73.5% stake in AADX?
The 73.5% stake is calculated using 172,393,518 Applied Aerospace & Defense common shares outstanding. This figure reflects the issuer’s Form 10-Q disclosure, including the exercise of an underwriters’ option for 1,650,000 additional shares.
Does AA&D Holdings have sole voting power over its AADX shares?
Yes. AA&D Holdings reports sole voting power and sole dispositive power over 126,786,731 Applied Aerospace & Defense shares. No shared voting or dispositive power is reported for this ownership position.
Who controls AA&D Holdings’ stake in Applied Aerospace & Defense (AADX)?
The reported AADX shares are held by AA&D Holdings, LP and managed by affiliates of Greenbriar Equity Group, L.P.. GB Eagle GP, LLC is AA&D’s general partner, and Greenbriar Equity Capital V, L.P. ultimately controls voting and dispositive decisions through its managing entities.
How did the underwriters’ option affect AADX’s outstanding share count used here?
The outstanding share base includes the underwriters’ option to buy 1,650,000 additional AADX shares. After giving effect to that option, the total outstanding used for the ownership calculation is 172,393,518 shares of common stock.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Applied Aerospace & Defense, Inc.
(Name of Issuer)
Common stock, par value $0.01 per share
(Title of Class of Securities)
03815J107
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
03815J107
1
Names of Reporting Persons
AA&D Holdings, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
126,786,731.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
126,786,731.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
126,786,731.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
73.5 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The reported percentage is calculated based on 172,393,518 shares of common stock ("Common Stock") outstanding, as reported on the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission ("SEC") on August 12, 2026, after giving effect to the exercise of the underwriters' option to purchase an additional 1,650,000 shares of Common Stock, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the SEC on August 12, 2026.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Applied Aerospace & Defense, Inc.
(b)
Address of issuer's principal executive offices:
355 Quality Circle NW, Huntsville, AL 35806
Item 2.
(a)
Name of person filing:
This Statement is filed by AA&D Holdings, LP, referred to herein as the "Reporting Person."
(b)
Address or principal business office or, if none, residence:
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See response to row 9 on the cover page hereto.
Such amount reflects the Reporting Person's beneficial ownership as of the date of this Statement, which gives effect to a distribution by the Reporting Person that occurred after June 30, 2026.
The reported securities are directly held by the Reporting Person, which is managed by affiliates of Greenbriar Equity Group, L.P. GB Eagle GP, LLC ("GB Eagle GP") is the general partner of the Reporting Person. 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 exercises voting and dispositive power over the reported securities by majority vote of its board of managers.
The filing of this Statement shall not be deemed an admission of beneficial ownership by the Reporting Person for purposes of Section 13(d) or 13(g) or for any other purpose.
(b)
Percent of class:
See response to row 11 on the cover page hereto.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to row 5 on the cover page hereto.
(ii) Shared power to vote or to direct the vote:
See response to row 6 on the cover page hereto.
(iii) Sole power to dispose or to direct the disposition of:
See response to row 7 on the cover page hereto.
(iv) Shared power to dispose or to direct the disposition of:
See response to row 8 on the cover page hereto.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
AA&D Holdings, LP
Signature:
/s/ Noah Blitzer
Name/Title:
Noah Blitzer / Vice President of GB Eagle GP, LLC, its general partner
