Liberty Broadband Corp $ 138.6 -1.13 (-0.81%)
Liberty Broadband Corp News and Headlines -
The Partners III Opportunity Fund's Institutional Class returned +7.59% in the third calendar quarter compared to +8.93% for the S&P 500 (the Fund's primary benchmark) and +9.21% for the Russell 3000. For the calendar year to date, the Partners III Opportunity Fund's Institutional Class returned +0.50% compared to +5.57% for the S&P 500 and +5.41% for the Russell 3000.
Equities extended their rally during the third quarter, with some sectors (most notably large-cap software and technology) returning to, and through, their prior highs. The U.S. economy is healing from the worst of the shutdown-induced trauma, but its recovery has lagged
The Fund's largest holding, Liberty Broadband (LBRDA) (owner of a 26% stake in Charter Communications (CHTR)), set the performance standard for both the quarter and year-to- date periods. As customers spend increasingly more time at home, the utility of Charter's broadband offering has never been clearer, and the company's continued execution against its growth plan drove its shares to new heights.
From [url=https://www.gurufocus.com/StockBuy.php?GuruName=Wallace+Weitz]Wallace Weitz[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=Wallace+Weitz]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=Wallace+Weitz]Portfolio[/url])'s Hickory Fund third-quarter 2020 commentary.
The Hickory Fund returned +4.82% in the third calendar quarter compared to +7.46% for the Russell Midcap Index, the Fund's primary benchmark. For the calendar year to date, the Hickory Fund returned -10.39% compared to -2.34% for the Russell Midcap Index.
Equities extended their rally during the third quarter, with some sectors once again reaching new highs. Our portfolio continued to recover as well, albeit at a slower pace than in the prior quarter. The U.S. economy continues to heal from the worst of the shutdown-induced trauma, but progress has somewhat lagged the pace set by the market. This is
Wallace Weitz (Trades, Portfolio)'s Weitz Investment Management Inc. manages a $2 billion equity portfolio composed of 63 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter of 2020.
Select Sector SPDR ETF
The fund closed its position in Select Sector SPDR ETF (XLF). The trade had an impact of -1.33% on the portfolio.
The investment fund trimmed its holding in Liberty Global PLC (LBTYK) by 42.24%. The trade had an impact of -1.28% on the portfolio.
Wallace Weitz (Trades, Portfolio), manager of the Weitz Value and Weitz Partners Value Funds, disclosed this week that his top five sells during the second quarter were in the Financial Select Sector SPDF Fund (XLF), Liberty Global PLC (LBTYK), Liberty Broadband Corp. (LBRDK), Intelligent Systems Corp. (INS) and Marvell Technology Group Ltd. (MRVL).
Weitz's approach to value investing combines Benjamin Graham's price sensitivity and insistence on a margin of safety with a conviction that qualitative factors that allow a company to control its destiny could outweigh statistical measures like the company's reported earnings and historical book value.
Liberty Broadband’s (2.6%) (LBRDK)(LBRDA) (LBRDK/LBRDA – $110.72/$107.00 – NASDAQ) principal asset is a 21% interest in Charter Communications, the second largest cable company in the United States. Liberty Broadband is the product of decades of financial engineering by cable pioneer Dr. John Malone, who effectively controls the company. Charter, currently operated by former Cablevision executive Tom Rutledge, successfully integrated the acquisitions of Time Warner Cable and Bright House and is now capitalizing on its broadband infrastructure advantage during a time of increasing internet usage. Almost one quarter of Liberty Broadband is owned by another Malone-related public entity knows as
To Our Shareholders,
For the quarter ended March 31, 2020, the net asset value (NAV) per Class A Share of The Gabelli Value 25 Fund decreased 29.0% compared with a decrease of 19.6% for the Standard & Poor’s (S&P) 500 Index. Other classes of shares are available. See page 2 for additional performance information for all classes.
First Quarter Commentary
The first quarter of 2020 was one of the worst in stock market history, with the novel coronavirus that causes COVID-19 spreading rapidly around the globe, and societies everywhere responding with various forms of “social distancing,” culminating with most of
The firm closed the Booking Holdings Inc. (BKNG) position. The portfolio was impacted by -2.09%.
The online travel agency has a market cap of $57.75 billion and an enterprise value of $59.55 billion.
GuruFocus gives the company a profitability and growth rating of 10 out of 10. The return on equity of 60.87% and return on assets of 16.26% are outperforming 98% of companies in the travel and leisure
The GuruFocus All-in-One Screener can be used to find insider trades from a specific period of time or for a certain range of values. For these stock picks, I went under the Insiders tab and changed the settings for All Insider Buying to “$5,000,000+,” the duration to “March 2019” and All Insider Sales to “$5,000,000+.”
According to these filters, the following are this past week's most significant trades from company insiders.
CEO Michael S. Dell bought 828,199 shares of Dell Technologies Inc. (DELL) for an average price of $31.70 per share on March 20.
Liberty Broadband’s (LBRDA) primary asset is 54 million shares of Charter Communications (CHTR), worth $26 billion. Shares rose as Charter delivered solid results and better- than -expected cash flow as its investment cycle winds down.
The Partners III Opportunity Fund’s Institutional Class returned +5.19% in the fourth quarter compared to +9.07% for the S&P 500 and +9.10% for the Russell 3000. For the year, the Partners III Opportunity Fund’s Institutional Class returned +34.22% compared to +31.49% for the S&P 500 and +31.02% for the Russell 3000.
While one- year returns are not as important as the longer-term results (see performance table), we are pleased to report a very good year in both absolute and relative terms. A full accounting of the Fund’s top contributors and detractors for the quarter and the year is available on
January 22, 2020
Dear Sequoia Shareholders and Clients:
Sequoia Fund’s results for the quarter and year ended December 31, 2019 appear below with comparable results for the S&P 500 Index:
Through December 31, 2019
S&P 500 Index*
|2020-10-23 $ 138.6 (-0.81%)|
Wally Weitz's Hickory Fund 3rd-Quarter Commentary - GuruFocus.com
|2020-02-07 $ 132.89 (-0.27%)|
|2019-11-14 $ 118.09 (0.93%)|
|2019-11-08 $ 116.72 (0.78%)|
|2018-07-24 $ 75.49 (-0.98%)|
|2018-04-12 $ 81.64 (0.41%)|
Sequoia Fund Comments on Liberty Broadband - GuruFocus.com
|2018-01-24 $ 95.14 (1.26%)|
|2017-10-24 $ 88.8 (-2.34%)|
|2017-04-27 $ 90.4 (0.87%)|
Weitz Value Fund Comments on Liberty Broadband - GuruFocus.com
|2017-01-26 $ 85.91 (8.86%)|
Weitz Funds Comments on Liberty Broadband - GuruFocus.com
|2016-11-08 $ 66.24 (1.75%)|
Wally Weitz's Partners Value Fund 3rd Quarter Commentary - GuruFocus.com
|2016-04-22 $ 55.41 (-0.07%)|
Wallace Weitz Comments on Liberty Broadband - GuruFocus.com