Ted Weschler details Liberty Live (LLYVA) direct and indirect stake

Rhea-AI Filing Summary

R. Ted Weschler filed an initial ownership report for Liberty Live Holdings, Inc. on December 15, 2025, as a member of a 10% owner group. He reports direct ownership of 67,757 shares of Series A Liberty Live Group common stock and 155,509 shares of Series C.

He also reports indirect interests, including shares held by a daughter, an educational trust for his daughters, and certain subsidiaries and subsidiary benefit plans of Berkshire Hathaway Inc. Weschler has or shares trading authority over some of these holdings but expressly disclaims beneficial ownership of shares not directly owned, except to the extent of any pecuniary interest.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

WESCHLER, R. TED

(Last) (First) (Middle)

404 EAST MAIN STREET

(Street)

CHARLOTTESVILLE VA 22902

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/15/2025

3. Issuer Name and Ticker or Trading Symbol
Liberty Live Holdings, Inc. [ LLYVA/K ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Member of 10% owner group

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Series A Liberty Live Group Common Stock	67,757	D
Series A Liberty Live Group Common Stock	3,700	I	See footnotes 1, 3 and 4.(1)(3)(4)
Series A Liberty Live Group Common Stock	2,069	I	See footnotes 2, 3 and 4.(2)(3)(4)
Series A Liberty Live Group Common Stock	4,986,588	I	See footnote 5.(5)
Series C Liberty Live Group Common Stock	155,509	D
Series C Liberty Live Group Common Stock	8,442	I	See footnotes 1, 3 and 4.(1)(3)(4)
Series C Liberty Live Group Common Stock	4,721	I	See footnotes 2, 3 and 4.(2)(3)(4)
Series C Liberty Live Group Common Stock	10,587,143	I	See footnote 5.(5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares are owned by a daughter of the reporting person.

2. These shares are owned by the Rita E. and Frank J. Weschler Educational Trust, of which the reporting person's daughters are among the beneficiaries.

3. The reporting person has or shares trading authority over these shares.

4. The reporting person may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, these shares. The reporting person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of these shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose.

5. These shares are directly owned as of the date hereof by certain subsidiaries and subsidiary benefit plans of Berkshire Hathaway Inc. ("Berkshire").

Remarks:

The reporting person is an investment manager at Berkshire and his Berkshire investment portfolio includes shares of Series A Liberty Live Group Common Stock and Series C Liberty Live Group Common Stock (collectively, "Shares"). He also personally holds Shares and has or shares trading authority over Shares owned by certain relatives and related trusts. As a result of an agreement entered into on May 24, 2013 between Berkshire and the reporting person with respect to the reporting person's holdings of, and future transactions in, Shares, Berkshire and the Reporting Person will file as a "group" under Section 13 of the Exchange Act. The reporting person disclaims beneficial ownership of Shares owned by Berkshire, Berkshire's subsidiaries and its subsidiary pension plans. This report shall not be deemed an admission that the reporting person is the beneficial owner of any Shares that are not directly owned by the reporting person for purposes of Section 16 of the Exchange Act or any other purpose.

	/s/ R. Ted Weschler	02/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did R. Ted Weschler report on his Form 3 for Liberty Live (LLYVA)?

R. Ted Weschler reported his initial beneficial ownership of Liberty Live Group common stock. He listed direct holdings in both Series A and Series C shares, along with several indirect interests through a daughter, an educational trust, and Berkshire Hathaway-related entities.

How many Liberty Live shares does Ted Weschler hold directly?

Ted Weschler reported directly owning 67,757 shares of Series A Liberty Live Group common stock and 155,509 shares of Series C. These amounts reflect his personal holdings, separate from shares held by relatives, trusts, or Berkshire Hathaway subsidiaries and benefit plans.

What indirect Liberty Live holdings related to Ted Weschler are disclosed?

The filing shows indirect Liberty Live holdings through a daughter, an educational trust benefiting his daughters, and certain Berkshire Hathaway subsidiaries and subsidiary benefit plans. Weschler has or shares trading authority over some of these positions but disclaims beneficial ownership except to any pecuniary interest he may have.

How are Berkshire Hathaway-related Liberty Live shares treated in Weschler’s filing?

Shares held by certain Berkshire Hathaway subsidiaries and subsidiary benefit plans are reported as indirectly owned. The filing states these shares are directly owned by those Berkshire entities, and Weschler disclaims beneficial ownership of them, despite reporting them in connection with his role and trading authority.

Why will Berkshire Hathaway and Ted Weschler file as a group under Section 13?

Berkshire Hathaway and Ted Weschler will file as a “group” under Section 13 because of a 2013 agreement covering his holdings of, and future transactions in, Liberty Live shares. The filing emphasizes that Weschler still disclaims beneficial ownership of Berkshire-owned shares.

Does Ted Weschler claim full beneficial ownership of all reported Liberty Live shares?

No. Ted Weschler states he may be deemed to beneficially own some indirectly held shares only to the extent of his pecuniary interest. He expressly disclaims beneficial ownership of shares held by relatives, related trusts, and Berkshire entities beyond any such economic interest.