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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
ECM
426
Everence Capital Management
Indiana
– -$301K -3,060 Closed
VRS
427
Virginia Retirement Systems
Virginia
– -$295K -3,000 Closed
CL
428
Choreo LLC
Illinois
– -$287K -2,922 Closed
AI
429
Atria Investments
North Carolina
– -$280K -2,848 Closed
LFA
430
Legacy Financial Advisors
Kentucky
– -$273K -2,775 Closed
MAA
431
Mraz Amerine & Associates
California
– -$271K -2,750 Closed
SDWMA
432
Schneider Downs Wealth Management Advisors
Pennsylvania
– -$265K -2,697 Closed
GIA
433
Gateway Investment Advisers
Ohio
– -$250K -2,537 Closed
Franklin Resources
434
Franklin Resources
California
– -$244K -2,478 Closed
BHCM
435
Brevan Howard Capital Management
Jersey
– -$236K -2,402 Closed
FPAS
436
Focus Partners Advisor Solutions
Missouri
– -$234K -2,390 Closed
PL
437
Plancorp LLC
Missouri
– -$233K -2,371 Closed
KWM
438
Keebeck Wealth Management
Illinois
– -$231K -2,350 Closed
SA
439
Sanctuary Advisors
Indiana
– -$224K -2,275 Closed
AGP
440
Autumn Glory Partners
Texas
– -$223K -2,264 Closed
CWM
441
Circle Wealth Management
New Jersey
– -$223K -2,262 Closed
PCP
442
Proficio Capital Partners
Massachusetts
– -$220K -2,237 Closed
IIM
443
INTECH Investment Management
Florida
– -$219K -2,223 Closed
MML Investors Services
444
MML Investors Services
Massachusetts
– -$211K -2,141 Closed
SBCM
445
Schwerin Boyle Capital Management
Massachusetts
– -$207K -2,100 Closed
BIG
446
Brooklyn Investment Group
New York
– -$130K -1,322 Closed
VI
447
Vestcor Inc
New Brunswick, Canada
– -$81K -824 Closed
AC
448
AlphaCore Capital
California
– -$79.7K -810 Closed
GM
449
GeoWealth Management
Illinois
– -$41.3K -420 Closed
AAP
450
Arax Advisory Partners
Colorado
– -$34.3K -349 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.