Madison Investments, an investment advisor, has issued a 2025 fourth quarter investor letter for “Madison MedCap Fund”. A copy of the letter can be downloaded here. The Russell Midcap Index ended an incredibly successful three-year run with a full-year return of 10.6%, amounting to an annual gain of more than 14%. The market favored more volatile and speculative companies in 2025. This market environment poses challenges for Madison’s mid-cap portfolio, which focuses on high-quality, profitable businesses. Historically, this focus has supported long-term investment success, and the firm remains committed to it, optimistic about the opportunities presented this year, and has actively invested. Against this backdrop, the fund declined 1.2% in Q4 2025, lagging behind the Russell MedCap index’s 0.2% gain. Please review the fund’s top five holdings for 2025 to gain insight into their key picks.
In a Q4 2025 investor letter, Madison Med Cap Fund highlighted stocks like Liberty Broadband Corp (NASDAQ: LBRDK ). Headquartered in Englewood, Colorado, Liberty Broadband Corporation (NASDAQ:LBRDK) is a US-based telecommunications service provider whose principal asset is an ownership interest in Charter Communications. On March 10, 2026, Liberty Broadband Corporation (NASDAQ:LBRDK) stock closed at $50.97 per share. Liberty Broadband Corporation (NASDAQ:LBRDK)’s one-month return was -9.21%, and its shares lost 32.17% over the past 52 weeks. Liberty Broadband Corporation (NASDAQ:LBRDK) has a market capitalization of $7.314 billion.
Madison MedCap Fund made the following comments regarding Liberty Broadband Corp. (NASDAQ: LBRDK )’s 4th quarter 2025 investor letter:
“The bottom five competitors for the quarter were Tracks, Brown & Brown, CDW, Floor & Decor, and Liberty Broadband Corporation (NASDAQ: LBRDK ). Liberty Broadband, which derives almost all of its value from its ownership stake in Charter Communications, fell as Charter reported a disappointing profit and a second straight quarter of broadband customer losses. Despite this, we believe the potential for increased free cash flow provides strong value support for the stock.”
Liberty Broadband Corporation ( NASDAQ:LBRDK )) is not on our list of the 40 most popular stocks in hedge fund headlines of 2026. According to our database, 59 hedge fund portfolios hold Liberty Broadband Corporation (NASDAQ:LBRDK) in the fourth quarter of the quarter. While we recognize the potential of Liberty Broadband Corporation (NASDAQ:LBRDK) as an investment, we believe some AI stocks offer more potential and less downside risk. If you’re looking for the most undervalued AI stocks that stand to benefit significantly from Trump-era tariffs and the offshore trend, check out our free report Best short-term AI stocks.
