Liberty Media (FWONK): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
26 concentrated managers hold it (+1 vs last quarter); combined they have held more shares for 2 quarters in a row (8 added, 9 trimmed). Its median weight in those portfolios is 3.4%.
Who owns Liberty Media?
Holders that filed a Schedule 13D or 13G with the SEC for owning more than 5% of the shares: BlackRock (13G/A filed Apr 17, 2025) and Vanguard Capital Management (13G filed Sep 3, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were BlackRock (13.9 million shares), Vanguard Capital Management (9.8 million shares) and Jupiter Topco (9.1 million shares).
Which institutions hold the most Liberty Media shares?
Per Form 13F filings as of Jun 30, 2026:
- 1. BlackRock: 13.9 million shares
- 2. Vanguard Capital Management: 9.8 million shares
- 3. Jupiter Topco: 9.1 million shares
- 4. Vanguard Portfolio Management: 8.9 million shares
- 5. Principal Financial Group: 8.0 million shares
- 6. Morgan Stanley: 7.7 million shares
- 7. Bank of America: 6.2 million shares
- 8. State Street: 5.3 million shares
- 9. Manufacturers Life Insurance Company, the: 5.3 million shares
- 10. Naya Capital Management UK: 5.3 million shares
Sources:13G/A by BlackRock (Apr 17, 2025) ↗13G by Vanguard Capital Management (Sep 3, 2026) ↗All of the company's proxy statements on EDGAR ↗
With more than one share class, a 13D or 13G counts shares convertible from another class as owned, so we do not show its percentage. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Liberty Media revenue
Liberty Media reported annual revenue of $4.48 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (25 → 26): 3 opened · 3 exited · 1 more with no comparable data = +1
“No comparable data”: managers whose previous-quarter portfolio we cannot compare (first 13F, or they did not file that quarter), plus spin-offs and corporate exits (mergers, delistings). They change the count without being a clean buy or sale. It is a net figure: “more” when more of them enter the count than leave it, “fewer” when it is the other way round. Here: 1 entered with no comparable quarter.
Net flow in the quarter: −$234M (−2.5 M shares) · bought $429M and sold $663MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Accumulation: combined they have held more shares for 2 quarters in a row (8 added, 9 trimmed). It is the combined share count of those still holding it: one large buyer can outweigh many who trimmed.
The set of concentrated managers changed between quarters: with the set as it was then, 28 held it last quarter (the chart point); with today's set, 25 (the base for the change).
Concentrated managers holding it
- Jericho Capital Asset Management$499M4.1%
- Ruane, Cunniff & GoldfarbReduced$497M7.7%−0.2 pp8.7% with FWONA
- Stockbridge PartnersIncreased$344M7.2%+5.8 pp
- Dorsal Capital ManagementIncreased$224M8.0%+1.1 pp
- Contour Asset ManagementReduced$162M3.8%−0.3 pp
- Ashe Capital ManagementReduced$137M14.7%−1.8 pp25.8% with FWONA
- Dendur CapitalIncreased$135M7.9%+1.2 pp
- Foxhaven Asset ManagementIncreased$130M3.5%+0.2 pp
- ThornTree Capital PartnersIncreased$57.5M7.9%+1.2 pp
- Manchester Global Management (UK)Increased$36.7M4.1%+0.7 pp
- Blacksheep Fund Management$33.5M10.8%13.8% with FWONA
- Soma Equity PartnersReduced$29.8M2.1%−2.6 pp
- 11 Capital PartnersNew$17.3M5.1%+5.1 pp
- Cypress FundsReduced$12.9M4.1%−1.2 pp
- Tabor Asset ManagementIncreased$10.6M3.3%+0.2 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- Norges BankPension or sovereign fund$176M0.0%
Largest holders of FWONK (all 13F filers)
- BlackRock13.9 MIndex manager−94 K
- Vanguard Capital Management9.8 MIndex manager−283 K
- Jupiter Topco9.1 MType not verifiedno data
- Vanguard Portfolio Management8.9 MIndex manager−450 K
- Principal Financial Group8.0 MInsurance holding−938 K
- Morgan Stanley7.7 MBank or trading desk−928 K
- Bank of America6.2 MBank or trading desk+1.7 M
- State Street5.3 MIndex manager+235 K
- Manufacturers Life Insurance Company, the5.3 MInsurance holding+646 K
- Naya Capital Management UK5.3 MInvestment firm+860 K
- Shares
- 13.9 M
- Change
- −94 K
See more
- Type
- Index manager
- Value
- $1.3 bn
- Shares
- 9.8 M
- Change
- −283 K
See more
- Type
- Index manager
- Value
- $928M
- Shares
- 9.1 M
- Change
- no data
See more
- Type
- Type not verified
- Value
- $863M
- Shares
- 8.9 M
- Change
- −450 K
See more
- Type
- Index manager
- Value
- $847M
- Shares
- 8.0 M
- Change
- −938 K
See more
- Type
- Insurance holding
- Value
- $761M
- Shares
- 7.7 M
- Change
- −928 K
See more
- Type
- Bank or trading desk
- Value
- $729M
- Shares
- 6.2 M
- Change
- +1.7 M
See more
- Type
- Bank or trading desk
- Value
- $591M
- Shares
- 5.3 M
- Change
- +235 K
See more
- Type
- Index manager
- Value
- $506M
- Shares
- 5.3 M
- Change
- +646 K
See more
- Type
- Insurance holding
- Value
- $505M
- Shares
- 5.3 M
- Change
- +860 K
See more
- Type
- Investment firm
- Value
- $503M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- 11.9%
- Net margin
- 9.4%
- ROE
- 5.4%
- Revenue (TTM)
- $4.3 bn
- Revenue growth
- 12.2%
- Net income (TTM)
- $408M
- Net debt / EBITDA
- 3.5x
- Free cash flow (TTM)
- $823M
- Quality vs sector
- 45/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- 2.33
- Interest coverage (operating income ÷ interest)
- 2.3 timesfiscal 2025
- Debt due within 12 months
- $72.0M0.05 times cash and investments
- Year 1$52.0M
- Year 2$558M
- Year 3$84.0M
- Year 4$643M
- Year 5$195M
- Later—
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Vanguard Capital Management5.35%(previously filed by The Vanguard Group)13Gfiling ↗Event: Mar 31, 2026 · filed: Sep 3, 2026
- Vanguard Groupchange of filing entity → Vanguard Capital Management13G · amendmentfiling ↗Event: Mar 13, 2026 · filed: Sep 3, 2026
- Principal Global Investors3.8%(fell below 5%)13G · amendmentfiling ↗Event: Mar 31, 2026 · filed: May 12, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Notice of delisting or failure to meet a listing rule (Item 3.01)
Notice of delisting or failure to meet a listing rule (Item 3.01)
«Split-Off of Liberty Live Holdings Approved at Liberty Media’s Special Meeting of Stockholders and Liberty Media Announces Final Terms of Reattribution»
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
«Liberty Media Corporation Prices Private Offering of $600 Million of 2.375% Convertible Senior Notes Due 2032»
Change in directors or officers (Item 5.02)
Unregistered sale of equity securities (Item 3.02)
Change in directors or officers (Item 5.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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