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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
First Manhattan
101
First Manhattan
New York
$6.45M -$25.4K -363 -0.4%
State Board of Administration of Florida Retirement System
102
State Board of Administration of Florida Retirement System
Florida
$6.15M -$473K -6,768 -7%
WCM
103
Wallace Capital Management
Texas
$6.03M -$293K -4,196 -4%
QCM
104
Quantinno Capital Management
New York
$5.99M -$891K -12,746 -12%
TSW
105
Thompson Siegel & Walmsley
Virginia
$5.76M -$3M -42,943 -32%
Walleye Capital
106
Walleye Capital
New York
$5.35M -$8.36M -119,593 -59%
KAH
107
Kathryn A. Hall
$5.34M – – –
Stifel Financial
108
Stifel Financial
Missouri
$4.92M -$1.47M -21,039 -21%
GCM
109
Greenland Capital Management
New York
$4.92M +$410K +5,869 +8%
Wealthfront Advisers
110
Wealthfront Advisers
California
$4.77M -$216K -3,085 -4%
DAM
111
DLD Asset Management
New York
$4.64M +$5.1M +72,957 New
PNC Financial Services Group
112
PNC Financial Services Group
Pennsylvania
$4.44M +$163K +2,337 +3%
Point72 Asset Management
113
Point72 Asset Management
Connecticut
$4.2M +$4.62M +66,117 New
HCA
114
Hyperion Capital Advisors
New York
$4.02M -$119K -1,704 -3%
Treasurer of the State of North Carolina
115
Treasurer of the State of North Carolina
North Carolina
$3.64M +$353K +5,049 +10%
AQR Capital Management
116
AQR Capital Management
Connecticut
$3.63M +$1.79M +25,595 +81%
HT
117
Headlands Technologies
Illinois
$3.37M +$3M +42,983 +429%
AllianceBernstein
118
AllianceBernstein
Tennessee
$3.31M -$106K -1,519 -3%
New York State Common Retirement Fund
119
New York State Common Retirement Fund
New York
$3.27M -$558K -7,978 -13%
Janus Henderson Group
120
Janus Henderson Group
United Kingdom
$3.22M +$133K +1,896 +4%
Bank of Montreal
121
Bank of Montreal
Ontario, Canada
$3.13M -$633K -9,055 -16%
State of New Jersey Common Pension Fund D
122
State of New Jersey Common Pension Fund D
New Jersey
$3.11M +$239K +3,413 +8%
PFSRSONJ
123
Police & Firemen's Retirement System of New Jersey
New Jersey
$3.1M +$490K +7,014 +17%
Handelsbanken Fonder
124
Handelsbanken Fonder
Sweden
$3.08M +$1.49M +21,311 +78%
Korea Investment Corp
125
Korea Investment Corp
South Korea
$2.92M – – –
3 4
5
6 7

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.