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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
RF
376
Rossby Financial
Florida
$317 – – –
ZBNA
377
Zions Bancorporation, National Association
Utah
$254 – – –
BI
378
Binnacle Investments
Iowa
$254 +$280 +4 New
CPG
379
Cornerstone Planning Group
New Jersey
$213 – – –
PWA
380
Principia Wealth Advisory
Texas
$191 -$349 -5 -63%
NFSG
381
Newbridge Financial Services Group
Florida
$191 – – –
PWAM
382
Private Wealth Asset Management
Iowa
$191 – – –
BHWM
383
Beaird Harris Wealth Management
Texas
$157 -$419 -6 -75%
RWM
384
Rialto Wealth Management
New York
$128 -$11.5K -165 -99%
SIC
385
SJS Investment Consulting
Ohio
$128 -$978 -14 -88%
WW
386
Winnow Wealth
Texas
$128 +$140 +2 New
RJA
387
Ross\Johnson & Associates
Minnesota
$127 – – –
AG
388
AmeriFlex Group
Nevada
$127 +$70 +1 +100%
RS
389
Rakuten Securities
Japan
$64 -$629 -9 -90%
HI
390
Harbour Investments
Wisconsin
$64 – – –
TFM
391
TFC Financial Management
Massachusetts
$64 – – –
FCM
392
Farallon Capital Management
California
– -$421M -4,274,445 Closed
EIM
393
Elliott Investment Management
Florida
– -$235M -2,384,481 Closed
SFM
394
Soros Fund Management
New York
– -$142M -1,440,391 Closed
Norges Bank
395
Norges Bank
Norway
– -$137M -1,395,088 Closed
BG
396
Baupost Group
Massachusetts
– -$73.4M -745,610 Closed
CCPM
397
Cooper Creek Partners Management
New York
– -$29.1M -296,190 Closed
N
398
Natixis
France
– -$15.3M -155,899 Closed
Boston Partners
399
Boston Partners
Massachusetts
– -$12.8M -129,826 Closed
WSFS
400
Wilmington Savings Fund Society
Delaware
– -$11.2M -113,380 Closed
14 15
16
17 18

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.