Here’s Why Alphyn Capital Trimmed its Liberty Broadband (LBRDA) Position

Alphyn Capital Management, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here.  A return of 6.8% was reported by the fund in the Q1 of 2021, outperforming its S&P 500 TR benchmark that delivered a 6.2% return in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Alphyn Capital Management, in their Q1 2021 investor letter, said that they trimmed their Liberty Broadband Corporation (NASDAQ: LBRDA) position after its merger with GCI. Liberty Broadband Corporation is an Englewood, Colorado-based communications business that currently has a $29.2 billion market capitalization. Since the beginning of the year, LBRDA delivered a -7.58% return, while its 12-month gains are up by 29.68%. As of April 12, 2021, the stock closed at $145.64 per share.

Here is what Alphyn Capital Management has to say about Liberty Broadband Corporation in their Q1 2021 investor letter:

“Liberty Broadband completed its merger with GCI, thereby collapsing one layer of the double discount to Charter Communications, presenting a good opportunity to trim that position as well.”

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Our calculations show that Liberty Broadband Corporation (NASDAQ: LBRDA) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Liberty Broadband Corporation was in 26 hedge fund portfolios, compared to 25 funds in the third quarter. LBRDA delivered a -4.02% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

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