Liberty Broadband Corporation, a large telecommunication company, has seen very strong returns in the last 3 months since November 2016. The stock LBRDK closed at $67.49 on October 13th 2016 and has since risen to over $70 per share, closing at $76.41 on January 13th 2017. Over this 3 month period Liberty Broadband, which invests in cable companies, has seen a large return of 13.2% and the stock continues to rise as we enter the 3rd week of January 2017.
Liberty Broadband Corp provides cable services in the United States and has its main business segments in TruePosition(Private) and Charter Communications (NASDAQ: CHTR). The $14.1B company offers a variety of entertainment, video and communications solutions to residential and commercial customers and is headquartered in Colorado in the United States. The 52-week low of $43.25 for the Liberty stock occurred almost a year ago on February 11th 2016. When contrasted with the current value of over $70 per share, this range between low and current value of LBRDK further emphasises the recent strong performance for the firm, realized in the last quarter of 2016 and the first couple of weeks of 2017.
These gains in Liberty Broadband certainly haven’t gone unnoticed. Back in Q2 of last year, George Soros bought a huge stake in the company which he added to his investment management firm, Soros Fund Management. Liberty Broadband’s positive returns have provided a huge boost to the recent gains in Soros’ fund; the telecom firm makes up 15.9% of Soros’ portfolio and his current stake value sits at $636M so is therefore a massive proportion of Soros’ holdings. As of June 2016, Soros owns 8.9 million shares of Liberty Broadband, making him the company’s biggest U.S.-listed holder, according to the U.S. Securities and Exchange Commission.
The value of Soros’ portfolio has risen 5.12% in the past 3 months and given the large position of Liberty Broadband, a lot of these gains can be attributed to the holdings of the telecommunication stock, LBRDK. It’s the number 1 largest stake in his portfolio and is over 4 times larger than the next biggest stock in his portfolio (the SPDR S&P 500 ETF).
As we enter the second half of January for this year, we should keep an eye out for the performance of the Liberty Broadband stock and to see if George Soros makes any further moves to increase his stake.