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Liberty Broadband Class C
LBRDK

429 hedge funds and large institutions have $11B invested in Liberty Broadband Class C in 2020 Q1 according to their latest regulatory filings, with 64 funds opening new positions, 141 increasing their positions, 127 reducing their positions, and 66 closing their positions.

New
Increased
Maintained
Reduced
Closed

11% more repeat investments, than reductions

Existing positions increased: 141 | Existing positions reduced: 127

7% more funds holding in top 10

Funds holding in top 10: 28 → 30 (+2)

0.83% less ownership

Funds ownership: 66.04% → 65.21% (-0.83%)

3% less first-time investments, than exits

New positions opened: 64 | Existing positions closed: 66

2% less funds holding

Funds holding: 437 → 429 (-8)

13% less capital invested

Capital invested by funds: $12.7B → $11B (-$1.7B)

59% less call options, than puts

Call options by funds: $610K | Put options by funds: $1.49M

Holders
429
Holders Change
-8
Holders Change %
-1.83%
% of All Funds
9.45%
Holding in Top 10
30
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+7.14%
% of All Funds
0.66%
New
64
Increased
141
Reduced
127
Closed
66
Calls
$610K
Puts
$1.49M
Net Calls
-$880K
Net Calls Change
+$1.34M

Top Buyers

1
CRCM
Cat Rock Capital Management
Connecticut
+$194M
2
Bank of America
Bank of America
North Carolina
+$103M
3
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
+$74.6M
4
Deutsche Bank
Deutsche Bank
Germany
+$70.8M
5
WHG
Westwood Holdings Group
Texas
+$57M

Top Sellers

1
Coatue Management
Coatue Management
New York
-$400M
2
Janus Henderson Group
Janus Henderson Group
United Kingdom
-$102M
3
BlackRock
BlackRock
New York
-$83.6M
4
RCG
Ruane, Cunniff & Goldfarb
New York
-$83.1M
5
FP
FPR Partners
California
-$62.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$1.57B +$34.1M +274,148 +2%
BlackRock
2
BlackRock
New York
$709M -$83.6M -671,612 -9%
Eagle Capital Management (New York)
3
Eagle Capital Management (New York)
New York
$686M -$36.6M -294,410 -5%
SFM
4
Soros Fund Management
New York
$585M -$49.1M -394,729 -7%
Coatue Management
5
Coatue Management
New York
$535M -$400M -3,214,050 -40%
Principal Financial Group
6
Principal Financial Group
Iowa
$313M +$16M +128,397 +5%
State Street
7
State Street
Massachusetts
$262M +$6.29M +50,575 +2%
RCG
8
Ruane, Cunniff & Goldfarb
New York
$250M -$83.1M -667,715 -23%
Bank of America
9
Bank of America
North Carolina
$247M +$103M +824,885 +59%
SP
10
Stockbridge Partners
Massachusetts
$243M +$35.2M +282,535 +15%
T. Rowe Price Associates
11
T. Rowe Price Associates
Maryland
$232M -$18.1M -145,453 -6%
Harris Associates
12
Harris Associates
Illinois
$223M -$40.1M -322,170 -14%
ClearBridge Investments
13
ClearBridge Investments
New York
$216M -$17.2M -137,937 -7%
Geode Capital Management
14
Geode Capital Management
Massachusetts
$186M +$12.8M +102,549 +6%
CRCM
15
Cat Rock Capital Management
Connecticut
$173M +$194M +1,562,834 New
JP Morgan Chase
16
JP Morgan Chase
New York
$155M +$8.01M +64,342 +5%
ACP
17
Atalan Capital Partners
New York
$154M +$16.2M +130,000 +10%
ACM
18
Ashe Capital Management
New Jersey
$143M -$10M -80,546 -6%
MAM
19
Madison Asset Management
Wisconsin
$131M +$5.49M +44,083 +4%
Goldman Sachs
20
Goldman Sachs
New York
$127M +$52.3M +420,183 +58%
WIM
21
Weitz Investment Management
Nebraska
$100M -$22.3M -179,244 -17%
DC
22
Davenport & Co
Virginia
$99.5M +$2.64M +21,215 +2%
Northern Trust
23
Northern Trust
Illinois
$98.6M +$4.76M +38,264 +4%
Dimensional Fund Advisors
24
Dimensional Fund Advisors
Texas
$97.3M +$61.5K +494 +0.1%
California Public Employees Retirement System
25
California Public Employees Retirement System
California
$94.8M -$1.55M -12,427 -1%
1
2 3 4 5

LBRDK Hedge Fund Activity: Q1 2020 in Review

429 of the 4,538 institutional investors tracked by Wall St. Rank reported a position in Liberty Broadband Class C (LBRDK) for Q1 2020, worth a combined $11B — down 13% from $12.7B a quarter earlier.

Sellers outnumbered buyers: 66 funds closed out of LBRDK and 64 opened new positions — a net loss of 2 holders — while 127 trimmed existing stakes and 141 added.

The largest buyer was Cat Rock Capital Management, opening a new position worth an estimated $194M. The largest seller was Coatue Management, cutting an estimated $400M.

  • 429 institutional investors held Liberty Broadband Class C (LBRDK) as of Q1 2020, down from 437 in Q4 2019.
  • Funds reported $11B of Liberty Broadband Class C stock for Q1 2020, down 13% quarter-over-quarter.
  • 64 funds opened new Liberty Broadband Class C positions in Q1 2020 and 66 closed out, a net change of -2 holders.
  • The largest Liberty Broadband Class C buyer in Q1 2020 was Cat Rock Capital Management, an estimated $194M added.
  • The largest Liberty Broadband Class C seller in Q1 2020 was Coatue Management, an estimated $400M sold.

Based on aggregated 13F filings for Q1 2020.