Below is the list of the 5 best defensive stocks to buy now, according to Baupost Group co-founder Seth Klarman. For a comprehensive list and Klarman’s portfolio management strategy please see 10 Best Defensive Stocks to Buy Now.
5. Fox Corporation (NASDAQ: FOX)
Number of Hedge Fund Holders: 38
Low valuations and a strong dividend history make news, sports, and entertainment company Fox Corporation (NASDAQ: FOX) a good stock for defensive investors. Despite a share price rally of close to 36% in the last twelve months, its stock is trading at a significant discount based on a price to earnings ratio of 11.43. Furthermore, the company’s dividend yield of 1.26% makes it a good stock to hold for the long term. Seth Klarman has been holding a position in Fox Corporation since 2019. At the end of the first quarter, Baupost Group held 5.68 million shares of Fox valued at around $198 million.
Fox Corporation was in 25 hedge fund portfolios at the end of the first quarter, compared to 17 positions in the previous quarter.