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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
Susquehanna International Group
76
Susquehanna International Group
Pennsylvania
$13.4M -$4.37M -62,543 -23%
BNP Paribas Financial Markets
77
BNP Paribas Financial Markets
France
$13.2M +$2.15M +30,792 +17%
HLCM
78
Hi-Line Capital Management
South Dakota
$13.2M +$2.97M +42,478 +26%
GCIA
79
Gabelli & Co Investment Advisers
New York
$12.8M +$10.6M +152,096 +305%
SC
80
SummitTX Capital
Texas
$12.6M +$13.9M +198,763 New
KC
81
Kintayl Capital
New York
$11.5M +$1.43M +20,414 +13%
AC
82
Athos Capital
Hong Kong
$10.7M +$11.8M +169,122 New
N
83
Nuveen
North Carolina
$10.7M +$112K +1,599 +1%
Hudson Bay Capital Management
84
Hudson Bay Capital Management
Connecticut
$10.5M +$2.8M +40,000 +32%
Bank of Nova Scotia
85
Bank of Nova Scotia
Ontario, Canada
$10.5M +$2.81M +40,200 +32%
SCI
86
S&CO Inc
Massachusetts
$9.98M -$1.72M -24,597 -14%
GCL
87
Glazer Capital LLC
New York
$9.97M +$11M +156,861 New
MC
88
Machina Capital
France
$9.03M +$442K +6,328 +5%
PSAMP
89
P. Schoenfeld Asset Management (PSAM)
New York
$9.02M +$5.5M +78,700 +125%
Legal & General Group
90
Legal & General Group
United Kingdom
$8.52M -$728K -10,413 -7%
GI
91
GAMCO Investors
Connecticut
$8.36M -$54K -772 -0.6%
AG
92
Algert Global
California
$7.74M +$2.88M +41,225 +51%
NPT
93
National Philanthropic Trust
Pennsylvania
$7.52M – – –
Voloridge Investment Management
94
Voloridge Investment Management
Florida
$7.39M +$8.12M +116,245 New
MSE
95
MUFG Securities EMEA
United Kingdom
$7.37M +$8.11M +116,000 New
RhumbLine Advisers
96
RhumbLine Advisers
Massachusetts
$7.03M -$611K -8,735 -7%
California State Teachers Retirement System (CalSTRS)
97
California State Teachers Retirement System (CalSTRS)
California
$7.01M +$248K +3,555 +3%
ECM
98
Eisler Capital Management
United Kingdom
$6.85M -$1.18M -16,937 -14%
CVM
99
Cheviot Value Management
California
$6.62M -$1.41M -20,173 -15%
Wells Fargo
100
Wells Fargo
California
$6.54M -$13.2M -188,310 -65%
2 3
4
5 6

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.