A quiet day for Serenity, the stock-picker tracked here for his focus on the obscure upstream suppliers feeding the AI buildout. His attention today drifted away from lasers and memory and toward space, prompted by a major NASA announcement rather than anything in his core photonics portfolio.

## A $10B lunar contract round

Serenity flagged NASA's roughly $10 billion push to begin establishing a presence on the Moon, highlighting the roster of companies selected to compete for future lunar delivery missions. The list spans established primes and newer space pure-plays.

The headline name for Serenity remains SpaceX (SPCX), which fits his view that the company's awaited mega-IPO is the defining space event of the moment — one he expects to draw heavy retail and overseas demand and ripple through risk appetite for the whole space and IPO complex. He treats it as a "futuristic space" theme Americans buy regardless of valuation; today's NASA inclusion only reinforces that narrative.

Alongside SpaceX, he noted the smaller lunar-focused names in the competitive pool: Firefly (FLY) and Lunar (LUNR), both lander and lunar-delivery developers, plus Voyager (VOYG), a space infrastructure and station company. He also pointed to Redwire (RDW), cited as winning work tied to a lunar power and communications tower — Redwire builds space hardware and infrastructure components. These sit within his broader defense-and-space "war trade" sleeve, a theme he admits cooled on him earlier in the year after an early drone-and-space run faded.

## The primes, again framed cautiously

Serenity also mentioned Lockheed Martin (LMT) and Northrop Grumman (NOC), the mega-cap defense primes, as part of NASA's space-delivery field. Consistent with his prior stance, he treats these more as macro coverage than as picks. Both are large, diversified contractors benefiting from a record defense budget and heightened geopolitical tension, but Serenity has repeatedly cautioned that the big primes were already front-run by institutions and are trading near all-time highs — meaning the easy money may have been made before retail could chase them. He has noted his own exposure lived in drones and photonics, where the primes' gains did nothing for him.

## The takeaway

Today was observational rather than actionable. Serenity didn't claim a new position or resize anything; he simply logged the NASA round as evidence that appetite for space and large-scale launch and delivery contracts is building, with SpaceX as the gravitational center. It reads as a reminder of his standing space thesis — big, telegraphed government demand that Americans buy into regardless of price — rather than a shift in his dominant focus, which remains the AI photonics and memory chokepoints that anchor his portfolio. There was no mention today of his core optical, substrate, or memory names.

*This is derived commentary reconstructing publicly posted views, not investment advice.*