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Klarman’s Baupost Sold Hewlett-Packard, Microsoft

Baupost Group LLC, the Boston-based hedge fund run by Seth Klarman, sold its remaining stakes in Hewlett-Packard Co. and Microsoft Corp. in the fourth quarter, abandoning bets on two firms tied to the personal-computer business.

Baupost sold 14.4 million shares of Palo Alto, California-based Hewlett-Packard and 1.4 million shares of Redmond, Washington-based Microsoft, according to a regulatory filing today with the U.S. Securities and Exchange Commission. The firm bought 7 million shares of New York-based American International Group Inc., the insurer that repaid a U.S. bailout last year.