⚡ CHTR: Liberty Broadband reduces stake by $257.9M
Published May 19, 2026
We read 504 filings today. Here are the ones worth your time.
392 Form 4112 8-K7 Buys101 Sells
Liberty Broadband just unloaded $257.9 million worth of Charter Communications. That's the largest disposal we've tracked this quarter.
Meanwhile, five insiders put their own money to work: Cascade Investment bought RSG, MSCI's Fernandez added shares, CHTR's Ramos bought in despite Liberty's exit, TKO's Kraft purchased, and ZTS's Bisaro picked up stock. Across 504 filings, sells outnumbered buys 101 to 7.
Liberty Broadband just moved $257.9M of Charter Communications off its books. Discretionary transfer, not a pre-planned sale. That's 3.2% of their position in a stock trading at $141, down 67% from its 52-week high of $431. Charter sits near the bottom of its range while the broader market runs.
Here's the context that matters: Liberty Broadband is Charter's largest shareholder. When your biggest investor cuts 3.2% of their stake at the low end of the range, that's a data point. The stock gained nothing year-to-date while competitors rallied. Liberty knows the business better than anyone watching from outside. They reduced anyway.
Cascade Investment dropped $101.8M into Republic Services at $208, a discretionary buy near the middle of its 52-week range. Bill Gates's investment firm now owns 1.8% of the waste management giant after adding $202M in two purchases over two years. The stock trades flat year-to-date while the waste sector consolidates following a strong 2024.
Board member Fernandez just put $2.2M into MSCI at $562, buying discretionary with shares mid-range after a flat year. The purchase adds just 0.2% to his position, more statement than conviction. MSCI trades at a 35x earnings premium as an index provider with sticky institutional revenue, but insiders have been net sellers over the past year.
Board member Ramos just bought $1.4M of Charter at $141, discretionary and near the 52-week low of $137. The stock has cratered 67% from its peak as broadband subscriber losses accelerate. He now has 34% of his holdings in a company trading 3% above its bottom.
Board member Kraft just bought $988K of TKO at $190, boosting his stake by 16%. This is his first open-market purchase in 18 months, and it's discretionary. The stock sits 16% below its 52-week high as the WWE-UFC merger settles in. Last time he bought near $175, TKO ran 30% in four months.
Board member Bisaro just bought $152K of ZTS at $74, less than $2 above the 52-week low. Discretionary purchase, not pre-planned. The stock is down 57% from its peak and flat for the year while the S&P is up double digits. He's buying into peak pessimism on animal health spending.
CME's Chairman just sold $10.4M in a discretionary trade, dumping 38.6% of his position at $305 per share. Stock is $24 off its 52-week high but flat year-to-date after the recent pullback. Largest insider sale at the company in over a year, and he chose to do it outside any pre-planned trading arrangement.
CME $305.12 . 52w: $257-$329 . +0% YTD
THE TAPE
HAL
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AIZ
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CRWD
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