Why One Fund Bought $8 Million of Viasat Stock and Made It a Top 3 Holding

New York City-based 13D Management disclosed a new position in Viasat ( VSAT 0.97%) valued at approximately $7.82 million, according to a November 14 Securities and Exchange Commission filing. What Happened According to a Securities and Exchange Commission filing dated November 14, 13D Management initiated a new position in Viasat ( VSAT 0.97%) during the third quarter. The fund reported ownership of 267,000 shares with a quarter-end market value of $7.82 million. This addition brought the number of disclosed equity holdings in the portfolio to 18 as of September 30. What Else to Know The new Viasat position represents 7.5% of the fund’s reportable assets under management after the quarter’s trading. Top holdings after the filing: NASDAQ:MRCY: $10.60 million (10.2% of AUM) NASDAQ:QRVO: $8.08 million (7.7% of AUM) NASDAQ:VSAT: $7.82 million (7.5% of AUM) NYSE:ALV: $6.90 million (6.6% of AUM) NYSE:PSO: $6.49 million (6.2% of AUM) As of Friday, VSAT shares were priced at $34.81, up 271.5% over the past year and vastly overperforming the S&P 500, which is up 15% in the same period. Company Overview Metric Value Price (as of Friday) $34.81 Market Capitalization $4.71 billion Revenue (TTM) $4.58 billion Net Income (TTM) ($522.34 million) Company Snapshot Viasat provides satellite-based broadband internet, in-flight connectivity, and communications equipment for commercial, consumer, and government markets. The company generates revenue primarily through subscription-based satellite services, equipment sales, and technology solutions for connectivity and data transmission. It serves commercial airlines, enterprise clients, maritime operators, energy companies, and individual consumers globally. Viasat, Inc. is a leading provider of broadband and communications solutions, leveraging its satellite infrastructure to deliver connectivity across diverse markets. The company combines recurring service revenues with technology-driven product offerings, supporting both commercial and government clients. Its scale and integrated approach to satellite communications position Viasat as a key player in the global connectivity sector. Foolish Take Viasat is approaching an inflection point where years of heavy capital spending begin to give way to improving cash generation. In its latest quarter , the company narrowed its net loss to $61 million from $138 million a year earlier while generating $69 million in free cash flow, a $58 million year-over-year improvement. Operating cash flow climbed to $282 million as capital intensity eased and margins stabilized. That matters because Viasat’s investment cycle is peaking just as new capacity is coming online. Management expects the ViaSat-3 F2 satellite to enter service in early 2026, with each ViaSat-3 satellite designed to deliver more bandwidth than the company’s entire legacy fleet. At the same time, defense backlog reached a record $1.2 billion, up 31% year over year, reinforcing visibility into future revenue. Contextually, this is a focused bet. The fund’s top holdings include defense-oriented and semiconductor-adjacent names like Mercury Systems and Qorvo, suggesting an appetite for complex, capital-intensive businesses with long product cycles. Viasat fits that profile precisely. Glossary Assets Under Management (AUM): The total market value of investments managed on behalf of clients by a fund or firm. Reportable Assets: Assets that must be disclosed...

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