John C. Malone filed Amendment No. 11 to his Schedule 13D with the SEC on November 5, 2026, disclosing that he ceased to be the beneficial owner of more than five percent of the outstanding shares of Liberty Media Corp's Series A common stock following transactions completed on November 4, 2026.

Key Highlights

  • Ownership threshold crossed: Malone's beneficial ownership fell from approximately 9.7% to approximately 3.5% of Liberty Media Corp's Series A common stock as a result of the Transactions completed on November 4, 2026.
  • Total beneficial ownership: Malone now beneficially owns 855,770 shares of Series A common stock, par value $0.01 per share.
  • Share base used: The 3.5% figure is calculated on 24,605,658 shares outstanding, consisting of 23,991,058 shares as of July 31, 2026, plus 614,600 shares issued in the Transactions.
  • Holdings breakdown: The 855,770 shares include 673,398 held by the JM Revocable Trust, 62,500 by the Malone Family Land Preservation Foundation, 56,431 by JCM Racing, 56,375 by the LM Revocable Trust, and 7,066 by two family trusts.
  • Disclaimers of beneficial ownership: Malone disclaims beneficial ownership of shares held by the LM Revocable Trust, the Malone Family Land Preservation Foundation, and the two family trusts.
  • Purpose stated as investment: According to the filing, Malone "holds and has acquired the shares of Series A Common Stock described herein for investment purposes."

Malone's Liberty Media Stake Falls After November 2026 Transactions

John C. Malone filed Amendment No. 11 to his Schedule 13D, originally filed on January 22, 2013, to report a material change in his beneficial ownership of Liberty Media Corp's Series A common stock. According to the filing, the triggering event occurred on November 4, 2026, when certain transactions (referred to throughout as the "Transactions") were completed. As a direct result, Malone's beneficial ownership declined from 9.7% to approximately 3.5% of the outstanding Series A shares, dropping him below the five percent reporting threshold.

The filing reports that Malone's aggregate beneficial ownership stands at 855,770 shares. These are held across several entities: 673,398 shares in the JM Revocable Trust, of which Malone is trustee; 56,375 shares in the LM Revocable Trust, co-trusteed by Malone and his wife, Leslie Malone, who retains the right to revoke it; 62,500 shares held by the Malone Family Land Preservation Foundation; 56,431 shares held by JCM Racing, LLC; and 7,066 shares held in two family trusts whose beneficiaries are Malone's adult children. Malone disclaims beneficial ownership of the shares held by the LM Revocable Trust, the Foundation, and the two family trusts.

The filing also notes a corporate change at Liberty Media. According to the Schedule 13D, on May 12, 2026, the issuer converted from a Delaware corporation to a Nevada corporation, and each outstanding share of Series A Liberty Formula One common stock automatically converted into one share of Series A Common Stock at the effective time of that conversion. The 614,600 shares issued in the Transactions were added to the base share count of 23,991,058 to arrive at the 24,605,658 total used for the percentage calculation.

What Was Disclosed

Amendment No. 11 to Malone's Schedule 13D discloses that he ceased to beneficially own more than five percent of Liberty Media Corp's Series A common stock following the November 4, 2026 Transactions, reducing his stake from 9.7% to approximately 3.5%, representing 855,770 shares.