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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.
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