Jackson Peak Capital, an investment management firm, released its first-quarter 2026 investor letter. Jackson Peak Capital employs a concentrated long/short equity approach to deliver strong absolute returns across various market conditions. A copy of the letter is available to download here. In Q1 2026, Jackson Peak returned -21.0%, net, in a challenging environment. The underperformance in Q1 was driven by an increase in tech exposure, adverse movements in certain positions, and the lack of expected catalysts. The ACWI returned -2.2%, and the HFRX Equity Hedge Index returned -1.5% during the same time. The firm expects a strong Q2 start as AI acceleration and easing geopolitical tensions favor positions. At Q1’s end, net exposure was 36%, up from 25% from Q4’s end, with confidence in AI infrastructure, energy, compute, data center buildout, and event-driven positions. In addition, please check the fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Jackson Peak Capital highlighted stocks like EchoStar Corporation (NASDAQ:SATS). EchoStar Corporation (NASDAQ:SATS) is a leading provider of networking technologies and services, offering broadband and satellite communication solutions. On June 1, 2026, EchoStar Corporation (NASDAQ:SATS) closed at $127.42 per share. One-month return of EchoStar Corporation (NASDAQ:SATS) was 36.10%, and its shares gained 670.93% over the past 52 weeks. EchoStar Corporation (NASDAQ:SATS) has a market capitalization of $36.10 billion.
Jackson Peak Capital stated the following regarding EchoStar Corporation (NASDAQ:SATS) in its Q1 2026 investor letter:
“EchoStar Corporation (NASDAQ:SATS) was a detractor as an event-driven position despite our continued conviction in the underlying thesis. The position was hurt by trading activity around the underlying and an existing option position that did not play out during the quarter. We continue to hold a significant position in SATS heading into the anticipated SpaceX IPO in Q2 given the large discount to NAV.”
EchoStar Corporation (NASDAQ:SATS) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 102 hedge fund portfolios held EchoStar Corporation (NASDAQ:SATS) at the end of the first quarter, up from 90 in the previous quarter. While we acknowledge the risk and potential of EchoStar Corporation (NASDAQ:SATS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than EchoStar Corporation (NASDAQ:SATS) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered EchoStar Corporation (NASDAQ:SATS) and shared the list of best space stocks to buy according to Reddit and social media. In addition, please check out our hedge fund investor letters Q1 2026 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.
