Top 5 Stocks to Sell Now According to Billionaire Dan Loeb

2. Endeavor Group Holdings, Inc. (NYSE:EDR)

Number of Hedge Fund Shareholders: 27

Dan Loeb’s hedge fund sold off 12.5 million shares of Endeavor Group Holdings, Inc. (NYSE:EDR) during Q4, closing its position that was previously the third-largest among hedge funds. Third Point’s sale was counter to the broader hedge fund industry, with ownership of the stock climbing by 35% during the quarter.

Endeavor Group Holdings, Inc. (NYSE:EDR), which owns the UFC and represents some of the world’s top athletes, delivered strong Q3 results, with outperformance across all three of its segments. The company also helped deliver its balance sheet with the sale of an 80% stake in Endeavor Content for $775 million.

ClearBridge Investments was bullish on Endeavor Group Holdings, Inc. (NYSE:EDR)’s IPO in anticipation of the return of live sporting events, having this to say about the company in its Q2 2021 investor letter:

“In addition to these disruptors, we added exposure in evolving opportunities through the IPO of Endeavor Group. Endeavor owns sports leagues like UFC and Pro Bull Riders which should benefit from the return of live events as well as leading sports agency IMG and its IMG Academy training franchise. Streaming companies are hungry for content and rights prices for programming owned by Endeavor are rising. Endeavor, as a representative to many of the world’s most well-known athletes, should also benefit from soaring sports salaries.”