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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
Lazard Asset Management
126
Lazard Asset Management
New York
$2.9M +$3.06M +43,823 +2,366%
Envestnet Asset Management
127
Envestnet Asset Management
Illinois
$2.85M -$7.95M -113,777 -72%
SWM
128
Sendero Wealth Management
Texas
$2.77M +$699 +10 +0%
WAM
129
Wolverine Asset Management
Illinois
$2.59M +$525K +7,506 +23%
GIM
130
Glenmede Investment Management
Pennsylvania
$2.53M +$2.66K +38 +0.1%
American Century Companies
131
American Century Companies
Missouri
$2.5M +$56.8K +813 +2%
Mirae Asset Global ETFs Holdings
132
Mirae Asset Global ETFs Holdings
Hong Kong
$2.48M +$344K +4,924 +14%
TD Asset Management
133
TD Asset Management
Ontario, Canada
$2.45M -$3.83M -54,800 -59%
Holocene Advisors
134
Holocene Advisors
New York
$2.43M +$2.67M +38,270 New
State of Wisconsin Investment Board
135
State of Wisconsin Investment Board
Wisconsin
$2.42M -$2.59M -37,118 -49%
LP
136
LB Partners
Virginia
$2.42M – – –
O
137
Ossiam
France
$2.39M -$15.8M -226,657 -86%
BA
138
Bridgewater Associates
Connecticut
$2.38M -$373K -5,339 -12%
Canada Life
139
Canada Life
Manitoba, Canada
$2.35M +$26.6K +380 +1%
HKAM
140
Horizon Kinetics Asset Management
New York
$2.31M -$2.68M -38,325 -51%
WIC
141
Water Island Capital
New York
$2.28M +$2.5M +35,810 New
Ohio Public Employees Retirement System (OPERS)
142
Ohio Public Employees Retirement System (OPERS)
Ohio
$2.25M +$16.7K +239 +0.7%
ASRS
143
Arizona State Retirement System
Arizona
$2.23M +$66.2K +947 +3%
Russell Investments Group
144
Russell Investments Group
United Kingdom
$2.21M +$1.01M +14,413 +71%
JG
145
Jain Global
New York
$2.11M +$2.13M +30,533 +1,174%
Skandinaviska Enskilda Banken (SEB)
146
Skandinaviska Enskilda Banken (SEB)
Sweden
$2.1M +$1.61M +23,000 +228%
WIM
147
Wittenberg Investment Management
Massachusetts
$1.95M -$252K -3,600 -11%
Public Sector Pension Investment Board (PSP Investments)
148
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$1.91M – – –
AA
149
Aire Advisors
California
$1.9M – – –
Teacher Retirement System of Texas
150
Teacher Retirement System of Texas
Texas
$1.85M -$170K -2,430 -8%
4 5
6
7 8

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.