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Liberty Broadband Class C
LBRDK

391 hedge funds and large institutions have $6.55B invested in Liberty Broadband Class C in 2025 Q3 according to their latest regulatory filings, with 56 funds opening new positions, 111 increasing their positions, 140 reducing their positions, and 79 closing their positions.

New
Increased
Maintained
Reduced
Closed

317% more call options, than puts

Call options by funds: $2.36M | Put options by funds: $566K

7% less funds holding

Funds holding: 419 → 391 (-28)

9.38% less ownership

Funds ownership: 91.97% → 82.59% (-9.4%)

21% less repeat investments, than reductions

Existing positions increased: 111 | Existing positions reduced: 140

25% less funds holding in top 10

Funds holding in top 10: 24 → 18 (-6)

29% less first-time investments, than exits

New positions opened: 56 | Existing positions closed: 79

41% less capital invested

Capital invested by funds: $11.1B → $6.55B (-$4.57B)

Holders
391
Holders Change
-28
Holders Change %
-6.68%
% of All Funds
5.13%
Holding in Top 10
18
Holding in Top 10 Change
-6
Holding in Top 10 Change %
-25%
% of All Funds
0.24%
New
56
Increased
111
Reduced
140
Closed
79
Calls
$2.36M
Puts
$566K
Net Calls
+$1.8M
Net Calls Change
+$1.99M

Top Buyers

1
HI
HBK Investments
Texas
+$397M
2
Adage Capital Partners
Adage Capital Partners
Massachusetts
+$133M
3
JP Morgan Chase
JP Morgan Chase
New York
+$132M
4
Morgan Stanley
Morgan Stanley
New York
+$85.8M
5
Neuberger Berman Group
Neuberger Berman Group
New York
+$62.9M

Top Sellers

1
UBS Group
UBS Group
Switzerland
-$631M
2
FCM
Farallon Capital Management
California
-$421M
3
EIM
Elliott Investment Management
Florida
-$235M
4
AC
Aristeia Capital
Connecticut
-$172M
5
Goldman Sachs
Goldman Sachs
New York
-$166M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP
226
JNE Partners
United Kingdom
$352K – – –
SCM
227
Sterling Capital Management
North Carolina
$349K -$42.6K -609 -10%
SLAM
228
Swiss Life Asset Management
$347K +$170K +2,432 +80%
FFM
229
Forum Financial Management
Illinois
$336K +$31.4K +449 +9%
Manulife (Manufacturers Life Insurance)
230
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$336K -$2.45K -35 -0.7%
MSRPS
231
Maryland State Retirement & Pension System
Maryland
$328K – – –
M&T Bank
232
M&T Bank
New York
$326K -$66.5K -951 -16%
DS
233
DRW Securities
Illinois
$320K +$344K +4,918 New
NP
234
Nilsine Partners
Colorado
$318K -$99.5K -1,424 -22%
ACH
235
ArrowMark Colorado Holdings
Colorado
$313K -$210K -3,000 -38%
ECAM
236
East Coast Asset Management
Massachusetts
$309K -$60.8K -870 -15%
OSAM
237
O'Shaughnessy Asset Management
Connecticut
$303K -$358K -5,125 -52%
TCOV
238
Trust Company of Vermont
Vermont
$302K – – –
IC
239
IEQ Capital
California
$295K -$264K -3,783 -45%
CAPTRUST Financial Advisors
240
CAPTRUST Financial Advisors
North Carolina
$288K -$59.3K -849 -16%
BCM
241
Bayesian Capital Management
New York
$280K +$308K +4,400 New
William Blair & Company
242
William Blair & Company
Illinois
$275K +$8.53K +122 +3%
RCA
243
Resonant Capital Advisors
Wisconsin
$272K -$7.48K -107 -2%
TAM
244
Tocqueville Asset Management
New York
$270K -$900K -12,880 -75%
Principal Financial Group
245
Principal Financial Group
Iowa
$268K -$62.9K -900 -18%
SCP
246
Seizert Capital Partners
Michigan
$264K – – –
SG Americas Securities
247
SG Americas Securities
New York
$263K -$590K -8,447 -67%
UCFA
248
United Capital Financial Advisors
Texas
$263K -$31.2K -446 -10%
WPWM
249
Western Pacific Wealth Management
Illinois
$261K – – –
Kovitz Investment Group Partners
250
Kovitz Investment Group Partners
Illinois
$260K -$2.87K -41 -1%
8 9
10
11 12

LBRDK Hedge Fund Activity: Q3 2025 in Review

391 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Liberty Broadband Class C (LBRDK) for Q3 2025, worth a combined $6.55B — down 41% from $11.1B a quarter earlier.

Sellers outnumbered buyers: 79 funds closed out of LBRDK and 56 opened new positions — a net loss of 23 holders — while 140 trimmed existing stakes and 111 added.

The largest buyer was HBK Investments, opening a new position worth an estimated $397M. The largest seller was UBS Group, cutting an estimated $631M.

  • 391 institutional investors held Liberty Broadband Class C (LBRDK) as of Q3 2025, down from 419 in Q2 2025.
  • Funds reported $6.55B of Liberty Broadband Class C stock for Q3 2025, down 41% quarter-over-quarter.
  • 56 funds opened new Liberty Broadband Class C positions in Q3 2025 and 79 closed out, a net change of -23 holders.
  • The largest Liberty Broadband Class C buyer in Q3 2025 was HBK Investments, an estimated $397M added.
  • The largest Liberty Broadband Class C seller in Q3 2025 was UBS Group, an estimated $631M sold.

Based on aggregated 13F filings for Q3 2025.