HHEI.AHeico Corporation

The Class A shares of the aircraft parts maker: more shares outstanding, fewer votes, the same business.

The company makes replacement parts for aircraft engines and systems, approved by the regulator as equivalents to the originals but cheaper. Revenue follows fleet flight hours rather than new aircraft production: the more flying, the more frequent the replacements. Approving an equivalent takes years, and that same barrier keeps new competitors out.

The class distinction is practical: this one carries fewer votes per share, but there are more of them and it trades more actively, so the spread is narrower. The voting class is concentrated in the hands of the family that runs the company, and control stays there regardless of what happens to this class. Claims on profit are identical and the dividend is the same.