ETF tracking US aerospace and defense companies including major contractors and manufacturers.Yahoo Finance ↗
A sector/theme exposure, not a company — priced via the ITA ETF as a clean proxy. Excluded from the index and host funds.
1 take · first discussed Jan 4, 2025
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The panel's view on legacy defense primes is represented solely by Friedberg, who holds a high-conviction bearish stance on Boeing, Lockheed Martin, and Raytheon as a group heading into 2025. He argues that defense budgets are rotating toward tech-driven, ROI-focused spending, leaving traditional "Defense 1.0" contractors — reliant on cost-plus government contracts — exposed to serious disruption. Friedberg specifically cites DOGE scrutiny of government contracting as an additional headwind that could deeply challenge these companies' core business models. No other hosts offered a competing or corroborating view on this basket.
Friedberg predicts legacy defense and aerospace primes (Boeing, Lockheed Martin, Raytheon) will be the biggest business losers of 2025, as defense budgets shift toward tech-oriented ROI-driven spending and their cost-plus model faces DOGE scrutiny.
I went with the kind of old defense and aerospace providers, Boeing, Lockheed Martin, Raytheon, Defense 1.0... I think that this government contracting business across the board is going to be deeply challenged this year.”41:30