This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Sirius Stock Gets Dumped by Wall Street Bigwigs (Update 1)

Updated from 8;02 a.m. EST to provide net positions from the hedge funds listed and today's closing price.

NEW YORK ( TheStreet) -- Sirius XM Radio (SIRI - Get Report) has always been a battleground stock, with investors debating if it's a "buy" or "sell." And, now, Wall Street's biggest money managers have weighed in by cutting their position in the company's stock.

Investment managers such as Steven Cohen of SAC Capital, John Thaler, and George Soros all reduced their positions in the satellite radio company in the fourth quarter. Shares of Sirius jumped during the period, gaining 20.5%, compared with a 7.9% rise in the Nasdaq.

Here is a list of some of the more notable hedge fund investors and what they did with their Sirius XM positions during the fourth quarter: (the hedge funds listed below cumulatively added 18.7 million shares during the quarter).

Steven Cohen, SAC Capital Advisors -- The hedge fund, run by Steven Cohen, slashed its stake by nearly 75%, selling 19.9 million shares. That left him with a stake of just over 3.5 million shares as of the end of December.

Asian Century Quest Capital -- Asian Century Quest Capital isn't one of the more well-known hedge funds, but this Asian-oriented investment manager more than tripled its stake in Sirius, acquiring 14 million shares. That increased its stake to 20 million shares.

Asian Century is a New York-based hedge fund that primarily focuses on Asian equities, so adding a huge position in Sirius is noteworthy for the company.

George Soros, Soros Family Fund -- George Soros' family fund had a tiny position in Sirius, but did sell all 34,300 shares it had in its portfolio.

Soros has retired from running other people's money, and now manages family investments only.

John Thaler, JAT Capital -- John Thaler's hedge fund has been known to love high-flying growth stocks, so the reduction of his stake by 30.5 million shares is something of interest to note.

John Griffin, Blue Ridge Capital -- Blue Ridge Capital, which seeks absolute returns by using a long/short strategy, initiated a massive position in the stock, purchasing 55.4 million shares.

Paul Tudor Jones, Tudor Investments -- Paul Tudor Jones, one of the most experienced investors on Wall Street, added 1.95 million shares to his Sirius position, bringing it to just over 2 million shares.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SIRI $3.86 0.78%
AAPL $124.46 0.88%
FB $83.17 0.30%
GOOG $556.14 -0.47%
TSLA $190.65 -1.90%

Markets

DOW 17,689.94 -28.60 -0.16%
S&P 500 2,057.70 -3.35 -0.16%
NASDAQ 4,865.3180 -11.2010 -0.23%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs