Here’s Meridian Hedged Equity Fund’s Updates on Liberty Broadband Corporation (LBRDK)

Meridian Funds, managed by ArrowMark Partners, released its “Meridian Hedged Equity Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the quarter, the market is more focused on the tailwind of policy easing than the headwind of weakening fundamentals, resulting in substantial gains despite stagflation emerging as a key concern. In this environment, the fund returned 1.67% (net) during the quarter, compared to 8.13% returns of the S&P 500 Index and 3.53% returns of the secondary benchmark, the CBOE S&P 500 BuyWrite Index. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Meridian Hedged Equity Fund highlighted stocks such as Liberty Broadband Corporation (NASDAQ:LBRDK). Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDK) is a communication services provider. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDK) was 2.86%, and its shares lost 33.59% of their value over the last 52 weeks. On December 23, 2025, Liberty Broadband Corporation (NASDAQ:LBRDK) stock closed at $47.77 per share, with a market capitalization of $6.854 billion.

Meridian Hedged Equity Fund stated the following regarding Liberty Broadband Corporation (NASDAQ:LBRDK) in its third quarter 2025 investor letter:

“Liberty Broadband Corporation (NASDAQ:LBRDK) is a holding company with a 26% ownership stake in cable operator Charter Communications and full ownership of GCI, a broadband and wireless provider in Alaska. The investment case remains straightforward: Liberty Broadband’s shares trade at a meaningful discount to the value of its underlying assets— primarily its Charter stake—with a prospective merger between the two companies serving as the principal catalyst for value realization. The stock underperformed during the period, largely reflecting weaker sentiment across the cable sector following Charter’s softer second-quarter earnings update. Demonstrating the potential benefits of a future combination with Charter and a more streamlined corporate structure, Liberty completed the spin-off of its GCI subsidiary into a standalone entity in July. GCI’s shares traded roughly 20% higher following their listing, partially offsetting Liberty’s earlier weakness. Later in the period, Liberty’s shares recovered some ground after the announcement of a definitive merger agreement with Charter. With GCI now independent, Liberty Broadband’s management can focus exclusively on maximizing value from its Charter investment ahead of the merger, while GCI gains autonomy to pursue Alaska-focused growth initiatives.”

Liberty Broadband Corporation (LBRDK): Among Billionaire Seth Klarman’s Stock Picks with Huge Upside Potential

Liberty Broadband Corporation (NASDAQ:LBRDK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 54 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDK) at the end of the third quarter, up from 50 in the previous quarter. While we acknowledge the risk and potential of Liberty Broadband Corporation (NASDAQ:LBRDK) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Liberty Broadband Corporation (NASDAQ:LBRDK) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Liberty Broadband Corporation (NASDAQ:LBRDK) and shared Madison Large Cap Fund’s views on the company. 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.