Lee Hobson’s Highside Capital Raised Stake in CLWR

Lee Hobson’s Highside Capital raised its passive stake in Clearwire Corporation (CLWR) to 6.5%. According to the 13G filing on October 17th, Highside Capital now has 16.17 million shares in CLWR, more than doubled from its previous quarter’s 7.06 million shares position. CLWR has dropped by more than 70% year to date. The stock just suffered a big loss on October 7th when it fell by 30% on an unusually high volume within a single day. Highside Capital might enter on that day at a price near $1.4. Now CLWR is trading at $1.4 and is still wavering around.

Eighteen hedge funds retained CLWR in their portfolios in the second quarter, Larry Robbins’ Glenview Capital had more CLWR stake than the others at that time, with 11.74 million shares, corresponding to a 4.71% stake. John Brennan’s Sirios Capital Management owned 8.44 million shares, or 3.39% stake. If no large adjustment happened after the second quarter, now Lee Hobson’s Highside Capital has become CLWR’s largest hedge fund stakeholder.

Highside Capital is a registered investment firm that manages private investment partnerships for qualified individuals and institutional investors. The firm applies long/short equity strategies to make its investments. The firm has a portfolio value of $1.45 billion, mainly invested in Technology, Basic Materials, Services, and Financial sector. The firm is based in Dallas, Texas with an additional office at New York, New York.

Clearwire Corporation is a wireless broadband services company. The company engages in building and operating mobile broadband networks for high-speed mobile internet, residential access services, and residential voice services in United States. It offers fourth generation (4G) and pre-4G mobile broadband services under the CLEAR and Clearwire brand. It sells its products and services directly to consumers, also through cellular retailers, consumer electronics stores, satellite television dealers, computer sales and repair stores, and company-operated retail outlets.