Will the FCC Approve NextNav’s (NN) Plan?

1 day ago 4

Soumya Eswaran

Fri, January 16, 2026 astatine 7:32 AM CST 4 min read

Laughing Water Capital, an concern absorption company, released its fourth-quarter 2025 capitalist letter. In the quarter, Laughing Water Capital returned ~6.8%, bringing the full-year returns to ~3.9% nett of fees and expenses. In comparison, the SP500TR and R2000 returned astir 2.7% and 2.2%, respectively, successful the quarter, and finished the twelvemonth up by 17.9% and 12.8%, respectively. A transcript of the missive tin beryllium downloaded here. The Fund outperformed the indexes past year, but it has lagged down them successful the existent year. However, what truly matters is the cumulative returns implicit the agelong run, arsenic volatility tends to creaseless retired implicit time. The Portfolio is well-positioned successful this regard, delivering beardown results connected a cumulative ground since inception and returned astir 400%, vs ~332% for the SP500TR and ~175% for our astir applicable benchmark, the R2000. In addition, you tin cheque the Strategy’s apical 5 holdings to cognize its champion picks successful 2025.

In its fourth-quarter 2025 capitalist letter, Laughing Water Capital highlighted stocks specified arsenic NextNav Inc. (NASDAQ:NN). NextNav Inc. (NASDAQ:NN) provides next-generation positioning, navigation, and timing (PNT) solutions. On January 15, 2026, NextNav Inc. (NASDAQ:NN) banal closed astatine $14.93 per share. One-month instrumentality of NextNav Inc. (NASDAQ:NN) was -11.08%, and its shares gained 14.93% of their worth implicit the past 52 weeks. NextNav Inc. (NASDAQ:NN) has a marketplace capitalization of $2.01 billion.

Laughing Water Capital stated the pursuing regarding NextNav Inc. (NASDAQ:NN) successful its 4th fourth 2025 capitalist letter:

"NextNav Inc. (NASDAQ:NN): NextNav is our wireless spectrum / terrestrial backup to GPS investment. Shares were much oregon little level for the year, which of people did not assistance our performance. The factors present are wholly unattractive, and wholly irrelevant. The lone things that volition substance for the occurrence of the concern are getting FCC support for NextNav’s plan, and what the re-purposed spectrum would beryllium worth.