Top 5 Stocks Billionaire Seth Klarman is Selling Off

1. Shaw Communications Inc. (NYSE:SJR)

Net Amount of Shares Baupost Group Sold in Q4: 7.53 million

Number of Hedge Fund Holders: 19

Closing out the list is Shaw Communications Inc (NYSE:SJR), which is another of Seth Klarman’s holdings that he sold off during Q4, in this case just two quarters after initiating the position, which ranked as the largest in the stock among the hedge funds tracked by Insider Monkey as of September 30. Crispin Odey’s Odey Asset Management also dumped a position of more than a million shares of SJR during Q4.

Shaw Communications Inc (NYSE:SJR), a Canadian telecommunications provider, grew revenue to $1.38 billion in Q4 from $1.35 billion a year earlier, while EPS jumped nearly 50% to $0.50. The company added 60,500 new wireless customers during the quarter, which was offset slightly by a 5.7% decline in average revenue per unit.

Shaw Communications Inc (NYSE:SJR) is set to be acquired by Canadian telecom and media giant Rogers Communications Inc. (NYSE:RCI) in a deal worth $26 billion. The deal is expected to close in the second quarter of this year if approved, though hurdles remain on that front, as a House of Commons committee report tabled last week urges the federal government to reject the deal unless Rogers agrees to divest Shaw’s wireless business.

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