The curious case of Globalstar (GSAT +2.85%) and Greenhouse Funds. A hedge fund, you see, doesn’t simply acquire shares; it performs a delicate, almost lepidopteral maneuver, a flutter of capital intended to settle upon a promising bloom. Greenhouse Funds, in a filing dated February 17, 2026 – a date that feels, even as I write it, deliciously distant – added 75,653 shares to its collection. A modest increment, perhaps, yet one that, when translated into the vulgar tongue of finance, amounts to a rather substantial $4.18 million. The resulting portfolio, as of December 31, 2025, swelled to approximately $57.60 million – a figure that, while not precisely astronomical, possesses a certain satisfying rotundity.
The direction, as the analysts so blithely put it, is “Buy.” A rather pedestrian term, wouldn’t you agree? It lacks the nuance, the perfidy, of a truly considered investment decision. This post-trade indulgence represents 4.91% of Greenhouse Funds’ 13F AUM – a percentage that, while seemingly innocuous, hints at a growing affection, a quiet commitment to this particular constellation of satellites and spectrum rights.
Their top holdings, a rather predictable bouquet of financial flora, include:
- NYSE: VYX: $187.18 million (6.8% of AUM)
- NYSE: BILL: $160.02 million (5.8% of AUM)
- NASDAQ: SRAD: $157.39 million (5.7% of AUM)
- NASDAQ: GSAT: $135.80 million (4.9% of AUM)
- NYSE: NCLH: $118.27 million (4.3% of AUM)
As of February 13, 2026 – a date that feels increasingly like a whispered promise – Globalstar shares were trading at $60.06, a rather spirited ascent of 171.76% over the past year. It has, shall we say, left the S&P 500 gasping in its wake, outperforming it by a rather impudent 159.97 percentage points. A performance that, while not entirely unprecedented, possesses a certain… zest.
| Metric | Value |
|---|---|
| Price (as of market close 2/13/26) | $60.06 |
| Market Capitalization | $7.49 billion |
| Revenue (TTM) | $272.99 million |
| Net Income (TTM) | ($19.26 million) |
Globalstar, for the uninitiated, provides mobile satellite voice and data communications, those little SPOT consumer tracking devices – a modern echo of Hansel and Gretel, perhaps – asset tracking solutions, and IoT connectivity products. They generate revenue through a rather charmingly archaic combination of direct product sales, service subscriptions, wholesale network access, and engineering services, all underpinned by a proprietary satellite network and, crucially, terrestrial spectrum rights. Their clientele is as diverse as it is demanding: recreational enthusiasts, government agencies, emergency responders, oil and gas conglomerates, maritime operators, utilities, transportation companies, and industrial behemoths. A veritable menagerie of modern commerce.
They operate a global satellite communications network, offering connectivity solutions across challenging geographies. It’s a tapestry woven with strategic technology partnerships and, of course, those valuable spectrum assets. They are, in essence, addressing the growing demand for reliable communications in remote and industrial environments – a demand that, let us be frank, is unlikely to diminish anytime soon. Their diversified product suite and established customer base position them as a key player in the satellite-enabled IoT and critical communications market. A rather impressive feat, wouldn’t you agree?
This transaction, the acquisition of those 75,653 shares, suggests a bullish outlook on the part of Greenhouse Funds. A rather obvious conclusion, perhaps, but one that bears repeating. Globalstar shares, you see, were on the upswing in Q4, eventually reaching a 52-week high of $74.88 on December 12. A peak, one hopes, that is merely a prelude to further ascents.
The company is doing well, undeniably. They ended 2025 with record revenue of $273 million, a 9% year-over-year increase. A respectable performance, though one must always approach such pronouncements with a healthy dose of skepticism.
Moreover, Globalstar expects sales growth to continue in 2026, forecasting revenue between $280 million and $305 million. A rather ambitious projection, though not entirely implausible.
The company isn’t profitable, posting a net loss of $8.7 million in 2025. But that figure is down substantially from the $63.2 million loss in 2024. A glimmer of hope, perhaps, though one must remember that losses, like shadows, can be deceiving.
With its share price up, Globalstar’s price-to-sales ratio of 27 is significantly higher than it was for most of the past year. So while the company is doing well and looks like a compelling investment, a prudent investor might wait for the stock price to descend from its current altitude before committing capital. A moment of patience, you see, can often yield a more favorable outcome. The art of investment, after all, is not merely about identifying potential; it’s about knowing when to strike.
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2026-03-14 22:03