Laughing Water Capital’s Updates on Liquidia Corp (LQDA)

分组1 - Laughing Water Capital reported a fourth-quarter 2025 return of approximately 6.8%, with full-year returns at around 3.9% net of fees and expenses, outperforming the SP500TR and R2000 indexes in the previous year [1] - The cumulative returns since inception for Laughing Water Capital are about 400%, compared to approximately 332% for the SP500TR and 175% for the R2000 benchmark [1] - The portfolio is positioned to deliver strong long-term results despite recent underperformance in the current year [1] 分组2 - Liquidia Corporation (NASDAQ:LQDA) is highlighted as a key stock, with a one-month return of 12.34% and a 52-week gain of 200.93% [2] - As of January 15, 2026, Liquidia Corporation's stock closed at $38.79 per share, with a market capitalization of $3.375 billion [2] - Liquidia's drug, Yutrepia, has been approved for treating pulmonary arterial hypertension and has exceeded early sales expectations due to its superior delivery and tolerability compared to incumbent products [3]