GLIBA

GLIBA

GLIBA

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q4	Dec 31, 2025	Clark Street Value	-	-	BHR, BRSL, FI, FSP, FWRD, FWRD. GDEN, GLIBA, GRBK, IOR, JEF, LNW, MCHB, MLCI CN, MREO, NLOP, NSTS, SEG, SOHOO, TURN	Capitalreturns, catalysts, distressed, specialsituations, value	The year-end review reflects a contrarian, special-situations-driven value approach amid significant underperformance versus the S&P 500. The portfolio focuses on distressed equities, REIT liquidations, take-privates, and idiosyncratic balance sheet mispricings where catalysts such as sales processes, buyouts, or capital returns can unlock value. Value investing is framed as lumpy and uncomfortable, with long-term success dependent on patience, downside analysis, and selective conviction rather than benchmark alignment.	TURN SOHOO LNW JEF FI GDEN FWRD BHR	View
2025 Q3	Oct 21, 2025	Plural Investing	-9.1%	-5.6%	GLIBA, JDG LN, JET2 LN, SEG, WOSG LN	Intrinsic Value, real estate, small caps, Telecom, Value Investing	The fund focuses on deeply undervalued small-cap equities with strong balance sheets and aligned management, citing opportunities in Jet2, Seaport Entertainment, and GCI Liberty. Managers see market pessimism in UK and US small caps as misplaced, creating entry points for disciplined long-term investors. The portfolio targets intrinsic value recovery through concentrated, research-driven holdings and patient capital deployment.	GLIBA WOSG JDG SEG JET2 GLIBA SEG JET2	View
2025 Q4	Jan 18, 2026	Brennan Asset Management	0.0%	0.0%	CODI, DCC.L, GLIBA, MTRO.L, NFLX, PTSB.IR, WBD	AI, Banking, energy, international, Media, special situations, value	Manager experimented with AI tools for presentation creation, finding initial promise but significant limitations in execution. The experience highlighted both benefits and constraints of current AI applications for routine work tasks. This reinforced skepticism about AI productivity promises and market valuations at 41x CAPE. Focus on Metro Bank's transformation into commercial and specialty mortgage bank, with MREL exit providing significant cost savings. PTSB sales process ongoing with potential strategic and private equity bidders. Both banks offer attractive risk-reward profiles despite challenging UK and Irish economic environments. DCC represents focused energy distribution opportunity following divestiture of non-core businesses. The propane distribution business offers stable, cost-plus pricing with customer captivity through tank ownership. Solar installation services provide growth opportunity in European commercial market. Warner Brothers Discovery sales process continues with Netflix bid competing against Paramount's hostile tender. The regulatory process will involve political considerations. GCI Communications rights offering completed with potential for future acquisitions as Liberty Media vehicle. Manager continues finding more attractive opportunities internationally than domestically. Portfolio holdings trade at low relative and absolute valuations despite broader market expensiveness. Focus on special situations with multiple catalysts for rerating.	DCC LN CODI WBD PTSB ID MTRO LN	View
2025 Q4	Jan 14, 2026	Longleaf Partners Small-Cap Fund	1.1%	7.6%	ALX, CLW, CNX, CUERVO.MX, ESRT, GHC, GLIBA, GRUMA.MX, MAT, PCH, RYN, SAM, SHEN, TRIP, WTM	Alcohol, Media, real estate, small cap, Telecommunications, undervalued, value	Fund focuses on undervalued companies trading below intrinsic value with P/V ratios in low-60s%. Manager emphasizes buying quality companies at discounted prices when market favors unprofitable, lower quality stocks. Significant exposure to alcoholic beverage companies including Becle (tequila/whiskey manufacturer) and Boston Beer. Alcohol industry faces consumption headwinds but companies have strong brands and pricing power. Holdings in Empire State Realty and Alexander's provide exposure to New York real estate. Despite political concerns about Mayor Mamdani, on-the-ground leasing trends outpace weak stock performance. Graham Holdings diversified conglomerate includes broadcast television assets that could benefit from increased M&A activity. Kaplan education segment returning to growth after multi-year turnaround.	PK ALX ESRT CLW SAM OSCR MAT GHC GLIBA	View
2025 Q4	Jan 13, 2026	Oakmark Select Fund	8.4%	14.3%	CHTR, EFX, GLIBA, GOOGL, IQV, LBRDK, NFLX, PAYC, TRGP, WBD	large cap, M&A, Media, Midstream, undervalued, value	Warner Bros Discovery was the top contributor as multiple parties submitted acquisition offers, with Netflix acquiring the Streaming and Studios business while Global Networks spins to shareholders. Paramount Skydance made a $30 per share offer for the entire company, creating a bidding war that unlocked shareholder value. Targa Resources represents a leading midstream natural gas and NGL company controlling 90% of fractionation capacity at Mont Belvieu hub. The company benefits from cost advantages, barriers to entry, and generates 90% of earnings through multi-year fee-based arrangements providing protection against oversupply. The fund continues to find attractive opportunities to invest in undervalued companies across various industries, including areas left behind in the momentum rally. Targa was purchased at a discount to peers based on normalized earnings power and intrinsic value estimates.	TRGP PAYC WBD	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Jan 28, 2026	Fund Letters	Andrew Peck	Liberty Broadband Corp.	Communication Services	Cable & Satellite	Bull	NASDAQ	broadband, cable, corporate actions, holding company, NAV discount	View Pitch
Jan 16, 2026	Fund Letters	Ross Glotzbach	GCI Liberty, Inc.	Communication Services	Wireless Telecommunication Services	Bull	NASDAQ	broadband, Freecashflow, Scarcity, Spin, Telecom	View Pitch
Nov 29, 2025	Fund Letters	Chris Waller	GCI Liberty Inc.	Communication Services	Telecommunications	Bull	NASDAQ	Acquisitions, compounding, FCF, Liberty, tax shield, Telecom	View Pitch
Nov 29, 2025	Fund Letters	Chris Waller	GCI Liberty Inc.	Communication Services	Telecommunications	Bull	NASDAQ	Acquisitions, compounding, FCF, Liberty, tax shield, Telecom	View Pitch

BSD Shareholders of GLIBA

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: