Finance
What to Know About This Fund’s $9 Million Graham Corporation Buy
Catawba River Capital disclosed a new position in Graham Corporation (NYSE:GHM) on May 11, 2026, acquiring 117,716 shares in a transaction estimated at $9.22 million based on quarterly average pricing.
According to a Securities and Exchange Commission (SEC) filing dated May 11, 2026, Catawba River Capital initiated a new position in Graham Corporation, buying 117,716 shares. The estimated transaction value is $9.22 million, calculated using the average share price for the quarter ended March 31, 2026. The quarter-end value of the position was $9.64 million, reflecting both the share purchase and any stock price changes during the period.
Graham Corporation is a leading provider of specialized engineering solutions for critical applications across industrial and defense markets. The company’s strategy centers on technical expertise, product reliability, and a diversified portfolio serving both commercial and government customers. Its competitive edge is built on decades of experience, a strong reputation for quality, and the ability to deliver custom solutions for complex operational needs.
Graham Corporation engineers fluid, power, and heat transfer systems for industrial and defense sectors worldwide.
Catawba River Capital disclosed a new position in Graham Corporation (GHM +0.13%) on May 11, 2026, acquiring 117,716 shares in a transaction estimated at $9.22 million based on quarterly average pricing.
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 11, 2026, Catawba River Capital initiated a new position in Graham Corporation, buying 117,716 shares. The estimated transaction value is $9.22 million, calculated using the average share price for the quarter ended March 31, 2026. The quarter-end value of the position was $9.64 million, reflecting both the share purchase and any stock price changes during the period.
What else to know
- This is a new position for the fund, representing 4.63% of its 13F reportable assets under management (AUM) at quarter-end.
- Top five holdings after the filing:
- NYSEMKT:FBND: $22.94 million (11.0% of AUM)
- NYSE:QXO: $22.04 million (10.6% of AUM)
- NYSEMKT:GLD: $18.69 million (9.0% of AUM)
- NASDAQ:ROAD: $15.62 million (7.5% of AUM)
- NYSE:PRM: $15.51 million (7.5% of AUM)
- As of May 10, 2026, Graham Corporation shares were priced at $98.19. Over the past year, the stock has returned 180%, outperforming the S&P 500 by NEARLY 150 percentage points.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 5/8/26) | $98.19 |
| Market Capitalization | $1.09 billion |
| Revenue (TTM) | $237.56 million |
| Net Income (TTM) | $14.93 million |
Company Snapshot
- Graham Corporation designs and manufactures fluid, power, heat transfer, and vacuum equipment for industries including chemical processing, defense, space, petroleum refining, and energy.
- The firm generates revenue through direct sales of engineered systems, components, and aftermarket services, with a focus on specialized equipment.
- It serves a global customer base, primarily targeting industrial, defense, and energy sector clients in the United States and internationally.
Graham Corporation is a leading provider of specialized engineering solutions for critical applications across industrial and defense markets. The company’s strategy centers on technical expertise, product reliability, and a diversified portfolio serving both commercial and government customers. Its competitive edge is built on decades of experience, a strong reputation for quality, and the ability to deliver custom solutions for complex operational needs.
What this transaction means for investors
Graham Corporation has been on a recent tear, and Catawba River’s buy seems to suggest it believes the recent surge still has room to run, particularly as defense spending and space-related demand continue driving record backlog levels.
That optimism is not coming out of nowhere. Graham reported third-quarter fiscal 2026 revenue of $56.7 million, up 21% year over year, while adjusted EBITDA climbed 50% to $6.0 million. Net income per diluted share jumped 79% to $0.25. The company also posted a record backlog of $515.6 million and a book-to-bill ratio of 1.3x, signaling demand continues to outpace shipments.
Management recently raised full-year guidance and highlighted growing exposure to defense programs, small modular reactor projects, and the January acquisition of FlackTek, which expands Graham’s advanced manufacturing capabilities.
For long-term investors, the key question is whether Graham can keep converting that backlog into profitable growth without sacrificing margins. With no debt at quarter-end before the FlackTek acquisition and strong demand visibility, the company looks increasingly like a niche industrial compounder rather than a short-term defense trade.