Crossroads Capital Investment Partners’ Updates on AST SpaceMobile (ASTS)

Group 1 - Crossroads Capital LLC reported a 6.4% net appreciation in its investment fund for Q3 2025, resulting in a year-to-date return of 34.1% net through Q3 2025 [1] - The fund has achieved a compounded return of 21.4% gross and 17.3% net since its inception [1] - AST SpaceMobile, Inc. (NASDAQ:ASTS) experienced a one-month return of 55.79% and a 52-week gain of 268.16%, with a market capitalization of $31.773 billion as of December 22, 2025 [2] Group 2 - Crossroads Capital highlighted significant advancements by AST SpaceMobile, Inc. in Q3 2025, transitioning from R&D to a focus on commercialization of its space-based cellular broadband network [3] - The company is making progress in manufacturing acceleration, spectrum acquisitions, partnerships, and regulatory matters, positioning itself for initial service rollout in 2026 [3] - Despite the potential of AST SpaceMobile, it is not among the top 30 most popular stocks among hedge funds, with 25 hedge fund portfolios holding the stock at the end of Q3, down from 30 in the previous quarter [4]