EchoStar Draws Jackson Peak Bet After $40B Spectrum Sale, 2.8% SpaceX Stake
Jackson Peak Capital initiated a significant event-driven position in EchoStar after its spectrum sale generated $40B and SpaceX shares valued at a $400B valuation, implying a 2.8% stake that comprised ~30% of SATS equity value. EchoStar will host its Q4 and full-year 2025 earnings call on March 2, 2026.
1. Hedge Fund Event-Driven Position
Jackson Peak Capital disclosed a new event-driven position in EchoStar during Q4 2025 after monitoring its strategic asset transactions and valuation dynamics. The firm’s long/short approach delivered a 14.0% net return in the quarter while reducing net exposure from 55% to 25%, making SATS its top holding.
2. SpaceX Stake and Spectrum Sale
EchoStar sold approximately $40 billion of spectrum assets to AT&T and SpaceX, receiving half the consideration in SpaceX stock. At a $400 billion valuation for SpaceX, that stake represents roughly 2.8% of SpaceX and accounts for about 30% of SATS’s equity value, creating a discount to net asset value ahead of a potential mid-2026 IPO.
3. Q4 and Full-Year Earnings Call Details
EchoStar will host its fourth-quarter and full-year 2025 financial results conference call on March 2, 2026 at 11:00 a.m. ET. The live webcast and dial-in details will be available on its Investor Relations website, with a replay posted for 48 hours afterwards.