Schedule 13G: CSS LLC/IL Reports 6.83% Holding in Liberty Broadband

Rhea-AI Filing Summary

CSS LLC/IL reported beneficial ownership of 26,413 shares of Liberty Broadband Corporation Series B common stock, representing 6.83% of the class. The filer states sole voting and dispositive power over all 26,413 shares and certifies the position was not acquired to influence control of the issuer. The filing identifies the filer as CSS LLC/IL (organized in Illinois) and provides its Chicago address and the issuers principal office in Englewood, Colorado.

Positive

• Disclosed a material passive stake: 26,413 shares (6.83%) reported, exceeding the 5% reporting threshold
• Sole voting and dispositive power reported for all shares, clarifying control over voting and disposition

Negative

• None.

Insights

Financial Analyst

TL;DR: A passive >5% stake disclosed; position size is material but reported as non-control.

CSS LLC/IL holds 26,413 shares, equal to 6.83% of the Series B common stock outstanding as reported in the referenced 10-Q. From an investor perspective, a >5% ownership filing is notable because it discloses a meaningful stake in the equity class; however, the filer explicitly certifies the stake is not intended to influence control. The precise economic exposure and timing of acquisition are not provided, limiting further assessment of intent or trading impact.

Corporate Governance Expert

TL;DR: Reporting meets Schedule 13G requirements for a passive investor; no governance change indicated.

The filing shows sole voting and dispositive power over the shares by CSS LLC/IL, which is relevant for proxy and shareholder communications. The certification that the shares were not acquired to influence control suggests the filer is using the 13G passive disclosure pathway rather than a 13D active-acquirer filing. There is no indication of group affiliations, derivative positions, or plans to nominate directors, so immediate governance implications appear limited.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Liberty Broadband Corporation

(Name of Issuer)

Series B Common Stock

(Title of Class of Securities)

530307206

(CUSIP Number)

08/07/2025

(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)

SCHEDULE 13G

CUSIP No. 530307206

1

Names of Reporting Persons

CSS LLC/IL

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

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 26,413.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 26,413.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,413.00

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)

6.83 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Percentage calculated on the 386,988 shares of Series B Common Stock outstanding reported on the 10-Q dated August 7, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Liberty Broadband Corporation
(b)	Address of issuer's principal executive offices: 12300 Liberty Boulevard, Englewood, COLORADO 80112
Item 2.
(a)	Name of person filing: CSS LLC/IL
(b)	Address or principal business office or, if none, residence: 1 NORTH WACKER DRIVE SUITE 3075 CHICAGO, Illinois 60606
(c)	Citizenship: CSS LLC/IL - ILLINOIS
(d)	Title of class of securities: Series B Common Stock
(e)	CUSIP No.: 530307206
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: 26,413
(b)	Percent of class: 6.83 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: CSS LLC/IL - 26,413
	(ii) Shared power to vote or to direct the vote: CSS LLC/IL - 0
	(iii) Sole power to dispose or to direct the disposition of: CSS LLC/IL - 26,413
	(iv) Shared power to dispose or to direct the disposition of: CSS LLC/IL - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	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.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	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 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.

CSS LLC/IL

Signature:	Mitchell R Bialek
Name/Title:	Mitchell R Bialek/CCO
Date:	08/21/2025

FAQ

What stake in Liberty Broadband (LBRDP) did CSS LLC/IL disclose?

CSS LLC/IL disclosed beneficial ownership of 26,413 shares, representing 6.83% of Series B common stock.

Does the filing indicate CSS LLC/IL intends to influence control of Liberty Broadband?

No. The filing includes a certification stating the securities were not acquired to change or influence control of the issuer.

What voting and disposition powers does CSS LLC/IL report?

The filer reports sole voting power and sole dispositive power over all 26,413 shares and no shared powers.

When was this Schedule 13G filed and signed?

The signature on the filing is dated 08/21/2025 (event date listed as 08/07/2025).

Where is CSS LLC/IL organized and located?

CSS LLC/IL is organized in Illinois with an address at 1 North Wacker Drive, Suite 3075, Chicago, IL 60606.