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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
HCM
401
Highbridge Capital Management
New York
– -$11.1M -112,815 Closed
CIM
402
Contravisory Investment Management
Massachusetts
– -$10.8M -109,747 Closed
NMC
403
Nine Masts Capital
Hong Kong
– -$9.96M -101,209 Closed
OAM
404
Oppenheimer Asset Management
New York
– -$4.22M -42,938 Closed
GCM
405
Genus Capital Management
British Columbia, Canada
– -$4.07M -41,392 Closed
Baird Financial Group
406
Baird Financial Group
Wisconsin
– -$2.81M -28,530 Closed
OQS
407
Occudo Quantitative Strategies
Florida
– -$2.07M -21,063 Closed
PC
408
Permanens Capital
New York
– -$855K -8,695 Closed
MC
409
Maverick Capital
Texas
– -$776K -7,886 Closed
CC
410
Centiva Capital
New York
– -$738K -7,504 Closed
LCGC
411
Legacy Capital Group California
California
– -$713K -7,252 Closed
PCP
412
Pacific Capital Partners
– -$631K -6,413 Closed
VC
413
Vestor Capital
Illinois
– -$247K -6,014 Closed
CFG
414
Chapman Financial Group
Hawaii
– -$586K -5,955 Closed
DnB Asset Management
415
DnB Asset Management
Norway
– -$535K -5,439 Closed
HHGC
416
Hunting Hill Global Capital
New York
– -$466K -4,736 Closed
CIBC Asset Management
417
CIBC Asset Management
Ontario, Canada
– -$378K -3,843 Closed
GFP
418
Gryphon Financial Partners
Ohio
– -$352K -3,576 Closed
SCA
419
Snowden Capital Advisors
New York
– -$326K -3,311 Closed
MW
420
MBL Wealth
North Carolina
– -$315K -3,200 Closed
EF
421
Empowered Funds
Pennsylvania
– -$307K -3,123 Closed
ProShare Advisors
422
ProShare Advisors
Maryland
– -$305K -3,104 Closed
HFM
423
Harvest Fund Management
China
– -$303K -3,084 Closed
PMG
424
ProVise Management Group
Florida
– -$303K -3,075 Closed
HSBC Holdings
425
HSBC Holdings
United Kingdom
– -$301K -3,072 Closed
15 16
17
18 19

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.