Southeastern/Longleaf report 3.68% stake in GCI Liberty

GCI Liberty, Inc. ownership disclosure: A joint Schedule 13G/A filed by Southeastern Asset Management, Inc.; Longleaf Partners Small-Cap Fund; and O. Mason Hawkins reports combined beneficial ownership of 1,321,110 shares of Series C GCI Group Common Stock.

Rhea-AI Filing Summary

GCI Liberty, Inc. ownership disclosure: A joint Schedule 13G/A filed by Southeastern Asset Management, Inc.; Longleaf Partners Small-Cap Fund; and O. Mason Hawkins reports combined beneficial ownership of 1,321,110 shares of Series C GCI Group Common Stock. The filing states the reporting parties own 3.68% of the class based on 35,853,250 shares outstanding as of the filing period and that there was no change in beneficial ownership from December 31, 2025 to March 31, 2026.

The schedule breaks out voting and dispositive power: Southeastern reports 2,124 shares of sole voting/dispositive power and 1,318,986 shares of shared voting/dispositive power; Longleaf reports 1,318,986 shares of shared voting/dispositive power; Mr. Hawkins reports 0 shares. The filing is executed under a joint filing agreement dated May 15, 2026.

Insights

Institutional Ownership Analyst

Stable passive stake: combined holders report a 3.68% position with no change over the quarter.

The filing shows a combined beneficial holding of 1,321,110 shares, equal to 3.68% of the Series C class on a 35,853,250 share base. The report explicitly states there was no change in ownership from December 31, 2025 to March 31, 2026, indicating a stable, passive position during that period.

Holder voting lines show most power is shared rather than sole, which typically reflects fund-managed or collective voting arrangements. Subsequent filings would reveal any disposition activity if holder decisions change.

Securities Counsel

Form categorizes the report as a joint beneficial ownership disclosure under Section 13.

The schedule is a joint Schedule 13G/A with an attached joint filing agreement signed May 15, 2026. It lists precise sole and shared voting and dispositive powers for each reporting person, consistent with passive investor reporting conventions.

Filing language notes ownership of 5 percent or less and includes the issuer CUSIP 36164V800. Any future change in percentage or control status would require amendment or different reporting classification.

Key Figures

Beneficial ownership: 1,321,110 shares Percent of class: 3.68% Shares outstanding: 35,853,250 shares +4 more

7 metrics

Beneficial ownership 1,321,110 shares combined beneficially owned (as reported)

Percent of class 3.68% based on 35,853,250 shares outstanding

Shares outstanding 35,853,250 shares current shares outstanding used in calculation

Shared voting/dispositive power (Southeastern) 1,318,986 shares Southeastern shared voting/dispositive power

Sole voting/dispositive power (Southeastern) 2,124 shares Southeastern sole voting/dispositive power

No change period Dec 31, 2025–Mar 31, 2026 no change in beneficial ownership reported

Joint filing agreement date May 15, 2026 execution date of the agreement

Key Terms

Schedule 13G/A, Beneficial ownership, Sole/Shared dispositive power, Joint filing agreement

4 terms

Schedule 13G/A regulatory

"A joint Schedule 13G/A filed by Southeastern Asset Management, Inc.;"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficial ownership financial

"Amount beneficially owned: (1) Southeastern - 1321110 (2) Longleaf - 1318986"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole/Shared dispositive power regulatory

"Sole Dispositive Power 2,124.00 8 | Shared Dispositive Power 1,318,986.00"

Joint filing agreement regulatory

"In accordance with Rule 13d-1(k) , the persons or entities named below agree to the joint filing"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Southeastern/Longleaf report in GCI Liberty (GLIBA)?

The joint filing reports combined beneficial ownership of 1,321,110 shares, equal to 3.68% of the Series C GCI Group Common Stock on a 35,853,250 share base.

Did the reporting parties change their holdings between year-end and March 31, 2026?

No. The filing states there was no change in beneficial ownership from December 31, 2025 to March 31, 2026, indicating the position was unchanged over that period.

How are voting and dispositive powers allocated among the filers?

Southeastern reports 2,124 shares of sole voting/dispositive power and 1,318,986 of shared voting/dispositive power; Longleaf reports 1,318,986 shared voting/dispositive power; Mr. Hawkins reports 0.

Does this Schedule 13G/A indicate active control of GCI Liberty?

No. The filing categorizes the position as ownership of 5 percent or less of the class and reports shared voting/dispositive power, consistent with passive investor disclosure rather than an active control claim.

Who signed the joint filing agreement and when?

The joint filing agreement is executed by Southeastern Asset Management, Inc.; Longleaf Partners Small-Cap Fund (by Southeastern); and O. Mason Hawkins, signed on May 15, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 04:15 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

GCI Liberty, Inc.

(Name of Issuer)

Series C GCI Group Common Stock

(Title of Class of Securities)

36164V800

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 36164V800

1

Names of Reporting Persons

Southeastern Asset Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TENNESSEE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,124.00
6	Shared Voting Power 1,318,986.00
7	Sole Dispositive Power 2,124.00
8	Shared Dispositive Power 1,318,986.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,321,110.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.68 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 36164V800

1

Names of Reporting Persons

Longleaf Partners Small-Cap Fund

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,318,986.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,318,986.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,318,986.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.68 %

12

Type of Reporting Person (See Instructions)

IV

SCHEDULE 13G

CUSIP Number(s): 36164V800

1

Names of Reporting Persons

O. Mason Hawkins

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GCI Liberty, Inc.
(b)	Address of issuer's principal executive offices: 12300 Liberty Blvd, Englewood, CO, 80112
Item 2.
(a)	Name of person filing: (1) Southeastern Asset Management, Inc., ("Southeastern") (2) Longleaf Partners Small-Cap Fund, ("Longleaf") (3) Mr. O. Mason Hawkins, ("Mr. Hawkins")
(b)	Address or principal business office or, if none, residence: For all Reporting Persons: 5100 Poplar Avenue, Suite 2450, Memphis, TN 38137
(c)	Citizenship: (1) Southeastern - Tennessee (2) Longleaf - Massachusetts (3) Mr. Hawkins - United States of America
(d)	Title of class of securities: Series C GCI Group Common Stock
(e)	CUSIP No.: 36164V800
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: (1) Southeastern - 1321110 (2) Longleaf - 1318986 (3) Mr. Hawkins - 0 From December 31, 2025, to March 31, 2026, there was no change in beneficial ownership. Using the current shares outstanding of 35,853,250, the filing parties own less than 5% of the Series C GCI Group Common Stock.
(b)	Percent of class: 3.68 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: (1) Southeastern - 2124 (2) Longleaf - 0 (3) Mr. Hawkins - 0
	(ii) Shared power to vote or to direct the vote: (1) Southeastern - 1318986 (2) Longleaf - 1318986 (3) Mr. Hawkins - 0
	(iii) Sole power to dispose or to direct the disposition of: (1) Southeastern - 2124 (2) Longleaf - 0 (3) Mr. Hawkins - 0
	(iv) Shared power to dispose or to direct the disposition of: (1) Southeastern - 1318986 (2) Longleaf - 1318986 (3) Mr. Hawkins - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Not Applicable.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Not Applicable.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not Applicable.
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. Not Applicable.

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Southeastern Asset Management, Inc.

Signature:	/s/ Andrew R. McCarroll
Name/Title:	Andrew R. McCarroll, General Counsel
Date:	05/15/2026

Longleaf Partners Small-Cap Fund

Signature:	/s/ Andrew R. McCarroll
Name/Title:	Andrew R. McCarroll, General Counsel
Date:	05/15/2026

O. Mason Hawkins

Signature:	/s/ O. Mason Hawkins
Name/Title:	O. Mason Hawkins, Individually
Date:	05/15/2026

Exhibit Information

Joint Filing Agreement In accordance with Rule 13d-1 (k) under the Securities Exchange Act of 1934, the persons or entities named below agree to the joint filing on behalf of each of them of this Schedule 13G with respect to the Securities of the Issuer and further agree that this joint filing agreement be included as an exhibit to this Schedule 13G. In evidence thereof, the undersigned hereby execute this Agreement as of May 15, 2026. Southeastern Asset Management, Inc. By /s/ Andrew R. McCarroll Andrew R. McCarroll, General Counsel Longleaf Partners Small-Cap Fund By: Southeastern Asset Management, Inc. /s/ Andrew R. McCarroll Andrew R. McCarroll, General Counsel O. Mason Hawkins, Individually /s/ O. Mason Hawkins