(Updates with Sara Lee increase in the last paragraph.)
Feb. 14 (Bloomberg) -- Highfields Capital Management LP, the Boston-based hedge fund run by Jonathon Jacobson, increased its holding in News Corp.
Highfields raised its stake in New York-based News Corp. by 7.72 million shares, or 26 percent, the firm said today in a regulatory filing listing its U.S. stock portfolio as of Dec. 31. The media company is under investigation by U.K. authorities for hacking into phones of celebrities and politicians.
The firm cut its stake in Mooresville, North Carolina-based Lowes Co., the world’s second-biggest home improvement chain, by 4.73 million shares, 57 percent, according to the filing. Highfields increased its holding in Sara Lee Corp., the Downers Grove, Illinois-based food company, 13 percent to 7.88 million shares, the filing shows.
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