Here’s Crossroads Capital Investment’s Updates on AST SpaceMobile (ASTS)

Crossroads Capital LLC, an investment management company, released its second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The Crossroads Capital Investment Partners, LP, appreciated 36.9% net of all fees and expenses in the second quarter of 2025, making the YTD return 26.1% net through Q2 2025. The fund has compounded at 17% (net) since inception. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its second-quarter 2025 investor letter, Crossroads Capital highlighted stocks such as AST SpaceMobile, Inc. (NASDAQ:ASTS). Headquartered in Midland, Texas, AST SpaceMobile, Inc. (NASDAQ:ASTS) designs and develops a constellation of BlueBird satellites. The one-month return of AST SpaceMobile, Inc. (NASDAQ:ASTS) was 58.05%, and its shares gained 184.93% of their value over the last 52 weeks. On October 2, 2025, AST SpaceMobile, Inc. (NASDAQ:ASTS) stock closed at $66.16 per share, with a market capitalization of $23.904 billion.

Crossroads Capital stated the following regarding AST SpaceMobile, Inc. (NASDAQ:ASTS) in its second quarter 2025 investor letter:

“Our second-largest position, AST SpaceMobile, Inc. (NASDAQ:ASTS), is a pioneer in space-based cellular broadband that will quite literally change the world should it succeed in its ambitious mission to solve a persistent and universal pain point for mobile users around the globe: eliminating coverage gaps while bringing affordable broadband to billions without basic internet services.

As a quick refresher, AST was founded in 2017 by CEO Abel Avellan before going public as a SPAC in 2021. The company’s raison d’être is to “connect the unconnected” by providing uninterrupted direct-to-device (“D2D”) broadband coverage to everyday smartphones via the world’s first and only purpose-built global low earth orbit (“LEO”) network for D2D. In short, the company provides satellite-based cell tower services to wireless carriers around the world through basketball court-sized phased array antennas deployed in LEO, a key globally scalable enabling technology set to redefine wireless connectivity on a global scale.

The emergence of AST represents a pivotal moment in the evolution of not just the company but the entire telecommunications industry, primarily because AST is not merely iterating on existing technology but is introducing a fundamentally new category of service that aims to bridge the digital divide and provide ubiquitous cellular coverage to underserved populations worldwide. Indeed, if we may be so bold, the company isn’t just building a satellite network – it’s constructing the final piece of digital infrastructure that will complete a century-long arc toward universal human connectivity…” (Click here to read the full text)

In another article, we covered AST SpaceMobile, Inc. (NASDAQ:ASTS) and shared the list of stocks Jim Cramer discussed recently. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.