Fund Sells $23 Million in Globalstar as Stock Surges 170% in One Year

On February 13, 2026, Ashford Capital Management reported selling 410,326 shares of Globalstar (NASDAQ:GSAT), with the estimated transaction value at $22.66 million based on quarterly average pricing.

What happened

According to an SEC filing dated February 13, 2026, Ashford Capital Management sold 410,326 shares of Globalstar during the fourth quarter. The estimated transaction value was $22.66 million, calculated using the average unadjusted closing price for the period. The fund’s quarter-end position in Globalstar fell to 998,995 shares, valued at $60.98 million. The net position change was an increase of $9.69 million, reflecting both the reduction in shares and stock price fluctuations.

What else to know

• Ashford Capital Management’s Globalstar stake is now 6.79% of reportable AUM, down from 9.32% before the trade.
• Top holdings after the filing:
  • NASDAQ: GSAT: $60.98 million (6.8% of AUM)
  • NASDAQ: LGND: $40.42 million (4.5% of AUM)
  • NASDAQ: VICR: $38.78 million (4.3% of AUM)
  • NASDAQ: RDVT: $34.33 million (3.8% of AUM)
  • NYSEMKT: VTI: $31.46 million (3.5% of AUM)
• As of February 13, 2026, GSAT shares were priced at $60.06, up 171.8% over the past year and outperforming the S&P 500 by 159.97 percentage points.

Company overview

Company Snapshot

• Globalstar provides mobile satellite services, including two-way voice and data communications, SPOT consumer GPS tracking devices, and commercial IoT solutions for asset tracking and monitoring.
• The company generates revenue through subscription-based communications services, equipment sales, wholesale minutes, and engineering services for hardware and software applications.
• It serves enterprise and government clients in sectors such as oil and gas, utilities, maritime, transportation, public safety, and recreation, with a global customer base.

Globalstar, Inc. operates a global satellite network delivering mobile communications and IoT connectivity to diverse industries and remote environments. The company leverages its spectrum assets and strategic alliances, such as its partnership with XCOM Labs, to expand 5G and advanced connectivity offerings. With a scalable business model and a focus on mission-critical applications, Globalstar addresses the growing demand for reliable satellite-based solutions worldwide.

What this transaction means for investors

This move shows what disciplined capital allocation looks like after a monster run. When a stock climbs 172% in a year and becomes a top position, trimming is often about risk management, not lost conviction.

Globalstar recently posted record third-quarter revenue of $73.8 million, up from $72.3 million a year earlier, with service revenue of $69.6 million. Wholesale capacity services led the way, and the company reaffirmed full-year revenue guidance of $260 million to $285 million with an adjusted EBITDA margin near 50%. Adjusted EBITDA came in at $37.6 million for the quarter. That is real operating progress, especially as it invests heavily in its C-3 satellite system and XCOM RAN commercialization.

Yet even with improving fundamentals, valuation and position size matter. After the sale, Globalstar still accounts for 6.79% of reportable assets and remains the fund’s largest holding. For long-term investors, the takeaway is not to panic over a partial sale. It is to focus on execution. If revenue growth, infrastructure expansion, and cash generation continue to track, volatility can be tolerated. But after shares nearly tripled in value, pruning is rational portfolio management.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard Total Stock Market ETF. The Motley Fool has a disclosure policy.