Ashe Capital Is Optimistic About Liberty Media Corp (LMCK), Morningstar, Inc. (MORN), and 2 Other Stocks

Ashe Capital increased its holding in Liberty Media Corp (NASDAQ:LMCK) by a whopping 50% in the third quarter, amassing 4.95 million shares of the company by the end of the period. The investment was extremely profitable, as the stock returned 48.3% in the three-month period ended September 30.  At the end of the second quarter, a total of 20 of the hedge funds tracked by Insider Monkey were long this stock, a 43% fall from the end of the first quarter of 2016, as hedge funds did not time their exits from the stock well. The largest stake in Liberty Media Corp (NASDAQ:LMCK) was held by Southeastern Asset Management, which reported holding $157.5 million worth of stock at the end of June. It was followed by Berkshire Hathaway with a $94.9 million position.

There were 419,656 Morningstar, Inc. (NASDAQ:MORN) shares in Ashe Capital’s portfolio at the end of the third quarter, which means the fund slashed its stake in the company by 37% during the quarter, leaving a $33.26 million stake. The stock lost 2.8% of its value during the third quarter. Royce & Associates was one of 12 hedge funds in our system that held Morningstar, Inc. (NASDAQ:MORN) on June 30, having a position worth $80.9 million at the end of the second quarter. Some of the other hedge funds bullish on the company include Renaissance Technologies, Highbridge Capital Management, and Citadel Investment Group.

Disclosure: None