Updates
FGPR remains on track, PRTH's management buyout is set at $8.05, and microcap RAVE is described as cheap.
Friday, September 25, 2026
Back to today 
From X
Laughing Water Capital on X
@darkstarsats 3/x $NN) so while you are calling $NN's 15 MHz of low a "small slice" in reality it is not much smaller than what $T bought, and it could be multiples of what they have AVAILABLE
Laughing Water Capital on X
@darkstarsats 2/x $NN) This why $T bought 20 mhz of low band from $ECHO. $VZ and $TMUS have more subs than $T and about the same amount of low band. Logically, $VZ and $TMUS must also be dealing with low band congestion.
Laughing Water Capital on X
@darkstarsats 1/x $NN) you note that carriers "control" ~50 mhz of low-band each. respectfully, "control" is clearly not the relevant variable. how much they have AVAILALBLE is what matters. $T commented that they were capacity constrained on low band.
Adam D. Wyden on X
King William as my son likes to refer to him out with his first public position. Don’t sleep on him. $LIFE https://t.co/598FwOWcDh
Negligible Capital on X
$SOXX – Semis have underperformed the Nasdaq 100 by about 14% since the start of July, putting semis on track for their biggest quarter of underperformance relative to the broader tech index since 2007 per Bloomberg. Really puts into perspective how wild Q2 was: https://t.co/LpGHKEZKu3
Colin King on X
Just covered the $CTVA $VYLR spin-off... could be interesting, but not likely pre-spin... Going to unpack the THRM/MOD spin/RMT next week https://t.co/8w2zrsxlNd https://t.co/bxh5z5LpNc
Negligible Capital on X
$WIX likes https://t.co/yt0C56mFmb
Investor Letters
All letters- Protean Funds August 2026 BVNKF $2.5B
- Pendelhaven Asset Management B.V. July 2026 DR0 $438MALM $3.8B
- Asset Value Investors Ltd July 2026 079940 $399MVVVNF $1.6B
- PenderFund Capital Management Ltd. July 2026 NEO $1BVNP $1.9B
- Kernow Asset Management July 2026 CKNHF $2.1BCMCX $2.5B
- Lindsell Train Limited July RMVEY $3.3B
- Forager Funds Management July 2026 BVS $981M
- Palm Harbour Capital July 2026 082920 $998MVVVNF $1.6B
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