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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
KK
151
KLP Kapitalforvaltning
Norway
$1.59M +$62.9K +900 +4%
OF
152
Optimize Financial
California
$1.57M +$1.72M +24,676 New
LCM
153
Lionstone Capital Management
New York
$1.56M – – –
SEI Investments
154
SEI Investments
Pennsylvania
$1.56M -$78.1K -1,117 -4%
Janney Montgomery Scott
155
Janney Montgomery Scott
Pennsylvania
$1.51M +$403K +5,765 +32%
Zurich Cantonal Bank
156
Zurich Cantonal Bank
Switzerland
$1.45M +$98.9K +1,415 +7%
DFCM
157
Dark Forest Capital Management
Puerto Rico
$1.44M +$1.08M +15,524 +216%
XT
158
XTX Topco
Cayman Islands
$1.44M +$1.59M +22,683 New
Brown Advisory
159
Brown Advisory
Maryland
$1.31M -$80.9K -1,157 -5%
YIH
160
Y-Intercept (HK)
Hong Kong
$1.28M +$1.4M +20,078 New
CIBC Private Wealth Group
161
CIBC Private Wealth Group
Georgia
$1.26M -$78.8K -1,128 -5%
HA
162
Harbor Advisors
Florida
$1.19M – – –
AIM
163
Aigen Investment Management
New York
$1.17M +$1.28M +18,349 New
LPL Financial
164
LPL Financial
California
$1.08M -$189K -2,710 -14%
DekaBank Deutsche Girozentrale
165
DekaBank Deutsche Girozentrale
Germany
$1.03M – – –
Pictet Asset Management
166
Pictet Asset Management
Switzerland
$1.03M -$125K -1,791 -10%
Comerica Bank
167
Comerica Bank
Texas
$1.01M +$144K +2,062 +15%
CA
168
Clearstead Advisors
Ohio
$974K +$839 +12 +0.1%
VAG
169
VisionPoint Advisory Group
Texas
$961K +$152K +2,178 +17%
Victory Capital Management
170
Victory Capital Management
Texas
$952K -$36.3K -520 -3%
AGM
171
Alpine Global Management
New York
$935K +$1.03M +14,714 New
AG
172
AIA Group
Hong Kong
$929K +$1.02M +14,622 New
Corient Private Wealth
173
Corient Private Wealth
Florida
$865K -$727K -10,407 -43%
CLA
174
Carnegie Lake Advisors
New Jersey
$863K +$161K +2,300 +20%
Public Employees Retirement Association of Colorado
175
Public Employees Retirement Association of Colorado
Colorado
$861K -$27.7K -396 -3%
5 6
7
8 9

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.