- Q2 2026 Merion Road maintained exposure to industrial companies rather than shifting toward AI infrastructure, and added Honeywell Aerospace after its separation amid conservative guidance and a discounted valuation. The firm cited gains across several long-term holdings and pressed United Bancorporation of Alabama to improve capital allocation, profitability and governance. Q2 2026 +16.6% FEIM $648MHONA $53BUBAB $186MBELFB $3.8B
One letter so far. We collect each new one as Merion Road Capital publishes it.
