Here's Why Liberty Broadband Corporation (LBRDK) Declined in Q3

Madison Investments, an investment advisor, released its “Madison Large Cap Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund decreased 2.2% in the third quarter compared to an 8.1% gain for the S&P 500 Index. The current market focus on short-term profits led the fund to underperform the benchmark considerably in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Madison Large Cap Fund highlighted stocks such as Liberty Broadband Corporation (NASDAQ:LBRDK). Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDK) provides communications services. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDK) was -20.79%, and its shares lost 46.76% of their value over the last 52 weeks. On November 10, 2025, Liberty Broadband Corporation (NASDAQ:LBRDK) stock closed at $48.65 per share, with a market capitalization of $6.978 billion.

Madison Large Cap Fund stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDK) in its third quarter 2025 investor letter:

"The bottom five detractors for the quarter were Gartner, Fiserv, Texas Instruments, Liberty Broadband Corporation (NASDAQ:LBRDK), and Accenture. Liberty Broadband, which derives nearly all its value from its ownership stake in Charter Communications, dropped as Charter reported a disappointing quarter of profitability and broadband subscriber losses. In the first quarter, investor sentiment rose following promising trends in these metrics, so this quarter marked a step back.

During the quarter, we also sold two relatively small holdings in Elevance Health and Liberty Broadband. Liberty Broadband, was also sold in the quarter to fund new opportunities, as the portfolio’s cash position was low and Liberty Broadband represented one of the smallest holdings in the portfolio."

Liberty Broadband Corporation (NASDAQ:LBRDK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDK) at the end of the second quarter, which was 58 in the previous quarter. While we acknowledge the potential of Liberty Broadband Corporation (NASDAQ:LBRDK) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Liberty Broadband Corporation (NASDAQ:LBRDK) and shared Conventum – Alluvium Global Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.