Weitz Investment Management, an investment management firm, released its “Hickory Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -9.07% compared to a -3.44% return for the Russell Midcap index. The third-quarter returns declined due to investors’ perception of anticipated Federal Reserve policy actions. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Weitz Investment Management discussed stocks like Liberty Broadband Corporation (NASDAQ:LBRDA) in the Q3 2022 investor letter. Based in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDA) operates a communication business that operates through GCI Holdings and Charter segments. On October 26, 2022, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $79.51 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was 2.90% and its shares lost 53.11% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $12.169 billion.
Weitz Investment Management made the following comment about Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q3 2022 investor letter:
“We believe this to be the case for Liberty Broadband Corporation (NASDAQ:LBRDA) (owner of 26% of broadband provider Charter Communications). As one of the Fund›s largest positions and its outsized impact as the top detractor for the quarter and year-to-date periods, a more detailed discussion of our continued optimism is warranted.
Investors have apparently extrapolated that Charter’s recent string of lackluster broadband customer growth portends zero (or negative) growth into perpetuity. Skeptics point to early customer wins for wireless broadband offerings and fiber-network operators’ plans to aggressively expand their footprints as evidence that Charter’s (and cable operators’, generally) ability to add subscribers is permanently impaired. We disagree. Wireless broadband will likely continue to win customers in areas where wired infrastructure is unavailable or by expanding the market to new customer segments (e.g., construction trailers, food trucks, etc.). That said, the carriers face an important trade-off, as fixed wireless is a lower-return usage of scarce network capacity. As fixed and mobile data usage inexorably grow, we believe carriers will prioritize their traditional mobility business at the expense of expanding their fixed wireless base. With respect to growing competition from fiber-to-the-home operators, Charter’s footprint is already roughly 40% overbuilt and has been competing successfully for over a decade. As fiber companies look to enact previously announced expansion plans, inflationary pressures for labor, equipment, and funding costs may reduce their ultimate appetites…” (Click here to read the full text)
Liberty Broadband Corporation (NASDAQ:LBRDA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Liberty Broadband Corporation (NASDAQ:LBRDA) at the end of the second quarter which was 26 in the previous quarter.
We discussed Liberty Broadband Corporation (NASDAQ:LBRDA) in another article and shared Alphyn Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!
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China’s terrifying internet “Master Key”… and the one microcap that could stop them
In August 2024, news outlets around the world revealed one of the most shocking data breaches in recent history.
Approximately 2.9 billion records, including names, email addresses, phone numbers, mailing addresses, financial data and, distressingly, Social Security numbers, were stolen when Coral Springs, Florida, firm National Public Data (NPD) suffered a massive cyberattack. The company confirmed that the breach, which happened in December 2023, resulted in the potential leaks of data in the summer of 2024.
Nearly every day in the news, we hear about yet another damaging data breach or ransomware attack that puts valuable data — including yours — into the hands of hackers. And the number of attacks is soaring — up 30% year over year according to the latest numbers.
As bad as this is, it’s a day at the beach compared to what’s coming.
That’s because hostile nations across the globe — including Iran, North Korea, Russia and Communist China are going all-out to develop a breakthrough technology that will unlock what I call the “Master Key” to the Internet.
If they succeed in harnessing this groundbreaking “Master Key” technology, the consequences could be catastrophic.
