Here’s Laughing Water Capital’s Updates on Nextnav (NN)

2 hours ago 1

Soumya Eswaran

Mon, April 27, 2026 astatine 6:50 AM CDT 3 min read

Laughing Water Capital, an concern absorption company, released its first-quarter 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. The Class A concern successful Laughing Water Capital returned astir -4.5% nett of each fees and expenses successful the archetypal 4th of 2026. The SP500TR and R2000 returned -4.3% and 0.9% respectively, during the aforesaid period. Over the archetypal 10 years, since its inception, Laughing Water Capital returned astir 410%, oregon 17.7% per year. Recent developments, specified arsenic AI breakthroughs and U.S. operations successful Iran and Venezuela, show the enduring quality of planetary uncertainty. The steadfast believes volatility has generated possibilities that pb to portfolio modifications with caller additions reflecting shorter concern timelines, beardown equilibrium sheets, and near-term currency flows, with constricted lawsuit way risk. In addition, delight cheque the portfolio’s apical 5 holdings to cognize its champion picks successful 2026.

In its first-quarter 2026 capitalist letter, Laughing Water Capital highlighted stocks similar NextNav Inc. (NASDAQ:NN). Headquartered successful Reston, Virginia, NextNav Inc. (NASDAQ:NN) specializes successful positioning, navigation, and timing (PNT) solutions that offers Pinnacle, an close altitude work for nationalist information applications. On April 24, 2026, NextNav Inc. (NASDAQ:NN) closed astatine $17.71 per share. One-month instrumentality of NextNav Inc. (NASDAQ:NN) was 15.98%, and its shares gained 44.57% implicit the past 52 weeks. NextNav Inc. (NASDAQ:NN) has a marketplace capitalization of $2.41 billion.

Laughing Water Capital stated the pursuing regarding NextNav Inc. (NASDAQ:NN) successful its Q1 2026 capitalist letter:

"NextNav Inc. (NASDAQ:NN) – I person written astir Nextnav, our wireless spectrum / 5G terrestrial backup to GPS investment, respective times successful the past. This concern remains an outsized position, and it remains taxable to chaotic swings each period astir the timing of the merchandise of each month’s Federal Communications Commission (FCC) agenda. The swings tin beryllium frustrating, but successful my view, the concern has been mostly de-risked arsenic the FCC submitted a draught Notice of Proposed Rule Making (NPRM) to the White House Office of Information and Regulatory Affairs (OIRA). In different words, it seems that the FCC is present connected our side.

However, the connection inactive needs to walk OIRA review, which would entail checking with different agencies that could beryllium affected by the proposal. In this case, that would chiefly beryllium the Department of Transportation (DOT) and the Department of Defense (DOD). From my perspective, it seems improbable that FCC Chair Brendan Carr would taxable a connection to OIRA without archetypal moving it by DOT and DOD. Further, the DOT and FCC some autumn nether oversight from the Senate Commerce, Science, and Transportation Committee, which is chaired by Senator Ted Cruz. Cruz has been a vocal advocator for terrestrial GPS successful the past, which seems to bespeak that the DOT volition beryllium connected board…” (Click present to work the afloat text)

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