Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -15.88% compared to a return of -4.88% for the S&P 500 Index and -5.62% for the Russell 1000 Value Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Longleaf Partners 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 18, 2022, Liberty Broadband Corporation (NASDAQ:LBRDA) stock closed at $77.42 per share. One-month return of Liberty Broadband Corporation (NASDAQ:LBRDA) was -13.60% and its shares lost 54.46% of their value over the last 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDA) has a market capitalization of $11.765 billion.
Here is what Longleaf Partners specifically said about Liberty Broadband Corporation (NASDAQ:LBRDA) in its Q3 2022 investor letter:
“Liberty Broadband Corporation (NASDAQ:LBRDA) – Cable and media holding company Liberty Broadband, which owns 26% of publicly traded Charter, was a detractor, as sentiment for its underlying, monthly-recurring revenue cable business swung from post-COVID winner highs to new lows. We have a long history of investing in the cable industry and partnering with the Liberty management team, who are taking steps to close the double valuation gap – at both the Charter and Liberty Broadband levels – through share repurchases and potentially other smart moves. We are paying a single-digit multiple of growing free cash flow per share for a business that has historically been recession resistant. This opportunity is a close parallel to our 2008 investment in Liberty Entertainment, which sold for half of the value of its underlying stake in DirectTV (which also sold for half of its value), and ultimately went on to be our top performer in 2009. Then, as now, we had Liberty management at the helm, who were laser focused on getting shareholders paid.”
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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 Longleaf Partners’ 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.
