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Liberty Broadband Class A
LBRDA

215 hedge funds and large institutions have $939M invested in Liberty Broadband Class A in 2025 Q3 according to their latest regulatory filings, with 25 funds opening new positions, 60 increasing their positions, 80 reducing their positions, and 43 closing their positions.

New
Increased
Maintained
Reduced
Closed

658% more call options, than puts

Call options by funds: $10M | Put options by funds: $1.32M

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

2.6% less ownership

Funds ownership: 86.17% → 83.57% (-2.6%)

9% less funds holding

Funds holding: 236 → 215 (-21)

25% less repeat investments, than reductions

Existing positions increased: 60 | Existing positions reduced: 80

39% less capital invested

Capital invested by funds: $1.54B → $939M (-$599M)

42% less first-time investments, than exits

New positions opened: 25 | Existing positions closed: 43

Holders
215
Holders Change
-21
Holders Change %
-8.9%
% of All Funds
2.82%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.08%
New
25
Increased
60
Reduced
80
Closed
43
Calls
$10M
Puts
$1.32M
Net Calls
+$8.71M
Net Calls Change
+$10.9M

Top Buyers

Rank Fund Capital Flow
1
Squarepoint
Squarepoint
New York
+$17.6M
2
AGM
Alpine Global Management
New York
+$12.5M
3
AllianceBernstein
AllianceBernstein
Tennessee
+$11M
4
YCM
Yakira Capital Management
Connecticut
+$5.9M
5
Capstone Investment Advisors
Capstone Investment Advisors
New York
+$5.22M

Top Sellers

Rank Fund Capital Flow
1
AC
Aristeia Capital
Connecticut
-$23.6M
2
LP
LMR Partners
United Kingdom
-$16.9M
3
JP Morgan Chase
JP Morgan Chase
New York
-$6.95M
4
FCM
Farallon Capital Management
California
-$5.69M
5
State of Wisconsin Investment Board
State of Wisconsin Investment Board
Wisconsin
-$5.05M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$101M +$815K +11,709 +0.7%
AC
2
Aristeia Capital
Connecticut
$79.8M -$23.6M -339,258 -21%
BlackRock
3
BlackRock
New York
$64.8M -$3.08M -44,286 -4%
State of Wisconsin Investment Board
4
State of Wisconsin Investment Board
Wisconsin
$57.7M -$5.05M -72,549 -7%
WCMNY
5
Westchester Capital Management (New York)
New York
$47.9M +$953K +13,700 +2%
RCG
6
Ruane, Cunniff & Goldfarb
New York
$42.4M +$24.6K +353 +0.1%
JP
7
JNE Partners
United Kingdom
$40.2M – – –
Millennium Management
8
Millennium Management
New York
$37.9M -$805K -11,573 -2%
ECP
9
Empyrean Capital Partners
California
$31.7M – – –
Dimensional Fund Advisors
10
Dimensional Fund Advisors
Texas
$31.4M +$820K +11,789 +2%
D.E. Shaw & Co
11
D.E. Shaw & Co
New York
$26.7M -$3.37M -48,418 -10%
LFCM
12
Long Focus Capital Management
Puerto Rico
$23.7M – – –
WA
13
Whitebox Advisors
Minnesota
$22M – – –
Eagle Capital Management (New York)
14
Eagle Capital Management (New York)
New York
$21.3M -$153K -2,196 -0.6%
Citigroup
15
Citigroup
New York
$20.7M -$3.13M -44,958 -12%
Squarepoint
16
Squarepoint
New York
$20.4M +$17.6M +253,211 +364%
Geode Capital Management
17
Geode Capital Management
Massachusetts
$20M +$2.47M +35,437 +13%
Verition Fund Management
18
Verition Fund Management
Connecticut
$18.6M -$4.76M -68,436 -19%
State Street
19
State Street
Massachusetts
$16.7M -$55.4K -796 -0.3%
AGM
20
Alpine Global Management
New York
$12.6M +$12.5M +179,790 +973%
Morgan Stanley
21
Morgan Stanley
New York
$12.2M +$4.31M +61,959 +47%
PCM
22
Pentwater Capital Management
Florida
$10.8M – – –
BM
23
Bislett Management
California
$10.4M +$1.74M +25,000 +18%
AllianceBernstein
24
AllianceBernstein
Tennessee
$10.3M +$11M +157,695 +3,768%
Royal Bank of Canada
25
Royal Bank of Canada
Ontario, Canada
$10.1M -$1.6M -23,015 -13%
1
2 3 4 5

LBRDA Hedge Fund Activity: Q3 2025 in Review

215 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Liberty Broadband Class A (LBRDA) for Q3 2025, worth a combined $939M — down 39% from $1.54B a quarter earlier.

Sellers outnumbered buyers: 43 funds closed out of LBRDA and 25 opened new positions — a net loss of 18 holders — while 80 trimmed existing stakes and 60 added.

The largest buyer was Squarepoint, adding an estimated $17.6M. The largest seller was Aristeia Capital, cutting an estimated $23.6M.

  • 215 institutional investors held Liberty Broadband Class A (LBRDA) as of Q3 2025, down from 236 in Q2 2025.
  • Funds reported $939M of Liberty Broadband Class A stock for Q3 2025, down 39% quarter-over-quarter.
  • 25 funds opened new Liberty Broadband Class A positions in Q3 2025 and 43 closed out, a net change of -18 holders.
  • The largest Liberty Broadband Class A buyer in Q3 2025 was Squarepoint, an estimated $17.6M added.
  • The largest Liberty Broadband Class A seller in Q3 2025 was Aristeia Capital, an estimated $23.6M sold.

Based on aggregated 13F filings for Q3 2025.