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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
Neuberger Berman Group
26
Neuberger Berman Group
New York
$57.7M +$62.9M +899,663 +10,443%
AA
27
AQR Arbitrage
Connecticut
$54.5M +$40.6M +580,384 +209%
Verition Fund Management
28
Verition Fund Management
Connecticut
$53.2M +$12.5M +178,545 +27%
Balyasny Asset Management
29
Balyasny Asset Management
Illinois
$52M +$57.2M +818,878 New
D.E. Shaw & Co
30
D.E. Shaw & Co
New York
$50.6M -$37.2M -532,232 -40%
Goldman Sachs
31
Goldman Sachs
New York
$50.4M -$166M -2,370,557 -75%
MF
32
Magnetar Financial
Illinois
$46.5M +$1.21M +17,372 +2%
SSA
33
Schonfeld Strategic Advisors
New York
$42.9M +$21.5M +307,233 +84%
FBCM
34
Fort Baker Capital Management
California
$40.4M +$23M +328,722 +107%
Grantham, Mayo, Van Otterloo & Co (GMO)
35
Grantham, Mayo, Van Otterloo & Co (GMO)
Massachusetts
$40.2M +$17.4M +249,411 +65%
Citadel Advisors
36
Citadel Advisors
Florida
$39.9M +$42.1M +602,833 +2,355%
Northern Trust
37
Northern Trust
Illinois
$39.5M -$9.09M -130,108 -17%
SC
38
Slotnik Capital
Texas
$39.3M +$14.8M +212,100 +52%
Invesco
39
Invesco
Georgia
$35.5M +$6.75M +96,551 +21%
GP
40
Greenstone Partners
California
$34.8M +$38.3M +547,890 New
GPC
41
Greenstone Partners & Co
California
$34.8M +$38.3M +547,890 New
Bank of America
42
Bank of America
North Carolina
$34.5M -$60.3M -862,337 -61%
Natixis Advisors
43
Natixis Advisors
Massachusetts
$33.8M -$4.97M -71,123 -12%
Royal Bank of Canada
44
Royal Bank of Canada
Ontario, Canada
$33.4M -$26.7M -382,317 -42%
IG
45
ING Group
Netherlands
$33M +$6.22M +89,000 +21%
AAM
46
Alpine Associates Management
Florida
$32.3M +$35.6M +508,700 New
WIM
47
Weitz Investment Management
Nebraska
$31.8M – – –
LP
48
LMR Partners
United Kingdom
$31.6M +$1.12M +16,000 +3%
Citigroup
49
Citigroup
New York
$31M +$24.7M +353,821 +263%
SCM
50
Stonehill Capital Management
New York
$27.5M -$10.5M -150,857 -26%
1
2
3 4 5

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.