Industrials

Atlas Arteria owns toll road stakes in France, the U.S., and Germany, with French motorways driving most of the value. The appeal centers on durable infrastructure, strong cash generation, and a business model tied to long concession lives rather than fast-changing demand.

Loar Holdings supplies specialized aerospace components used across commercial and defense platforms. Rapid revenue growth, rising margins, and improving cash flow make it a notable niche operator, with long product lives and recurring aftermarket exposure adding to its appeal.

Louisiana-Pacific makes structural panels and engineered wood siding used in home construction and remodeling. The key appeal is its shift toward higher-value SmartSide products, backed by a solid balance sheet and a clearer path to more resilient earnings over time.

Landstar connects shippers with trucking and logistics capacity through an asset-light network of independent agents and carriers. Its balance sheet is notably strong, and a freight-market recovery could revive earnings, but the current valuation already assumes a meaningful improvement.

Karman Holdings supplies specialized aerospace and defense systems tied to missile and space programs. Revenue growth has been exceptional and operating margins are solid, making the company notable for long-range sector exposure and expanding scale.

Kingboard Holdings makes core materials used in printed circuit boards and electronics production. The recent rebound in revenue and earnings, combined with very low valuation multiples and large-scale manufacturing assets, makes its recovery profile worth a closer look.

Kirby runs the leading U.S. inland tank barge network and pairs it with a sizable engine and industrial service business. Rising margins, stronger free cash flow, and moderate valuation support a closer look at how durable this improvement may be.