Hyperliquid Strategies Outlines Q2 Earnings and Treasury Strategy

Digital asset firm focuses on HYPE token, NAV per share, and transparency initiatives

Published on Feb. 14, 2026

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Hyperliquid Strategies (NASDAQ:PURR) executives used the company's second fiscal quarter earnings call to reiterate its focus on holding the HYPE token, outline recent capital deployment activity, discuss a financial loss driven largely by token price movements, and announce new plans to provide investors with more frequent transparency into its holdings and net asset value.

Why it matters

As a digital asset treasury company, Hyperliquid Strategies' performance and strategy are closely watched by investors interested in exposure to the HYPE token and the firm's approach to managing its crypto-based portfolio. The company's emphasis on NAV per share accretion and new transparency initiatives aim to differentiate it in a market seeking more clarity around digital asset holdings and valuations.

The details

Hyperliquid Strategies CEO David Schamis said the company's 'job is to hold the HYPE token' and described it as the largest digital asset treasury for HYPE 'by a pretty wide margin.' He noted HYPE is 'still not easily accessed, particularly in the United States,' and said Hyperliquid's role 'at least for now' is to enable access for investors on a major U.S. exchange. The firm's activities are focused on capital efficiency and NAV per share accretion, with Schamis saying they are exploring yield enhancement 'while taking as little additional risk as possible.' Hyperliquid also highlighted recent platform developments like Builder Codes, HIP-3, HLP, and HIP-4 aimed at expanding the Hyperliquid ecosystem. On the treasury side, Schamis said the company has deployed about $140 million since closing, including $10 million for share repurchases and $130 million for HYPE token purchases.

  • Hyperliquid Strategies reported results for the first six months of fiscal 2026 (ending Dec. 31, 2025).
  • The company received investor commitments totaling approximately $888 million in cash and HYPE in December 2025.

The players

Hyperliquid Strategies

A digital asset treasury company focused on holding the HYPE token and providing investors access to it on a major U.S. exchange.

David Schamis

Chief Executive Officer of Hyperliquid Strategies.

Brett Beldner

Chief Financial Officer of Hyperliquid Strategies.

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What they’re saying

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— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.