Latest news with #Klarman
Yahoo
a day ago
- Business
- Yahoo
Seth Klarman's Strategic Moves: Fiserv Inc. Takes Center Stage with 3.75% Portfolio Share
Analyzing Seth Klarman (Trades, Portfolio)'s Latest 13F Filing for Q2 2025 Warning! GuruFocus has detected 5 Warning Signs with DLPN. Seth Klarman (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Seth Klarman (Trades, Portfolio) is a renowned value investor and the Portfolio Manager of The Baupost Group, an investment partnership he founded in 1983. Known for his cautious and strategic approach, Klarman authored the highly sought-after book "Margin of Safety." He holds an economics degree from Cornell University and an MBA from Harvard University. Klarman's investment strategy spans a wide array of assets, from traditional value stocks to more complex investments like distressed debt and foreign equities. He is known for his patience, often holding cash when opportunities are scarce, and emphasizes the importance of risk management over mere returns. Summary of New Buy Seth Klarman (Trades, Portfolio) added a total of three stocks to his portfolio, with the most significant addition being Fiserv Inc (NYSE:FI). This purchase involved 895,000 shares, accounting for 3.75% of the portfolio and valued at $154.31 million. The second largest addition was Amcor PLC (NYSE:AMCR), consisting of 5,500,000 shares, representing approximately 1.23% of the portfolio, with a total value of $50.55 million. The third largest addition was PagSeguro Digital Ltd (NYSE:PAGS), with 2,500,000 shares, accounting for 0.59% of the portfolio and a total value of $24.1 million. Key Position Increases Seth Klarman (Trades, Portfolio) also increased stakes in a total of nine stocks. The most notable increase was in Elevance Health Inc (NYSE:ELV), with an additional 370,000 shares, bringing the total to 616,000 shares. This adjustment represents a significant 150.41% increase in share count, impacting the portfolio by 3.5%, with a total value of $239.6 million. The second largest increase was in CRH PLC (NYSE:CRH), with an additional 1,131,000 shares, bringing the total to 3,825,395. This adjustment represents a 41.98% increase in share count, with a total value of $351.17 million. Summary of Sold Out Seth Klarman (Trades, Portfolio) completely exited three holdings in the second quarter of 2025. These include Solventum Corp (NYSE:SOLV), where he sold all 1,053,240 shares, resulting in a -2.3% impact on the portfolio. Additionally, he liquidated all 10,777,863 shares of Clarivate PLC (NYSE:CLVT), causing a -1.22% impact on the portfolio. Key Position Reduces Seth Klarman (Trades, Portfolio) also reduced positions in four stocks. The most significant changes include a reduction in Willis Towers Watson PLC (NASDAQ:WTW) by 211,483 shares, resulting in a -13.86% decrease in shares and a -2.05% impact on the portfolio. The stock traded at an average price of $310.55 during the quarter and has returned 10.35% over the past three months and 7.46% year-to-date. Additionally, he reduced Eagle Materials Inc (NYSE:EXP) by 233,376 shares, resulting in a -25.66% reduction in shares and a -1.49% impact on the portfolio. The stock traded at an average price of $215.61 during the quarter and has returned 1.50% over the past three months and -2.01% year-to-date. Portfolio Overview At the end of the second quarter of 2025, Seth Klarman (Trades, Portfolio)'s portfolio included 22 stocks. The top holdings were 11.36% in Alphabet Inc (NASDAQ:GOOG), 9.94% in WESCO International Inc (NYSE:WCC), 9.79% in Willis Towers Watson PLC (NASDAQ:WTW), 8.54% in CRH PLC (NYSE:CRH), and 7.5% in Fidelity National Information Services Inc (NYSE:FIS). The holdings are mainly concentrated in nine of the eleven industries: Communication Services, Technology, Industrials, Basic Materials, Financial Services, Consumer Defensive, Consumer Cyclical, Healthcare, and Energy. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Sign in to access your portfolio
CNBC
4 days ago
- Business
- CNBC
Seth Klarman's Baupost picks up beaten-down shares, raises Alphabet stake
Baupost Group's Seth Klarman picked up several beaten-down stocks last quarter, while increasing its big stake in Google parent Alphabet to take advantage of the rebound in technology. The widely-followed hedge fund manager took a new, $154 million stake in fintech services provider Fiserv , according to the latest regulatory filing. Fiserv recently nosedived after cutting its forecast for annual revenue growth, bringing the stock's six-month loss to 42%. Baupost also added a $51 million bet on packaging firm Amcor Plc and a $24 million stake in Brazilian payments company PagSeguro Digital in the second quarter. The Boston-based hedge fund also hiked its stake in Alphabet last quarter, by 27% to a holding worth $464 million at the end of June. Alphabet, whose shares rallied 14% in the second quarter, is now Baupost's second-largest position, trailing only Swiss mobile and broadband provider Sunrise Communications . Baupost's top holdings at the end of June also included Wesco International , Willis Towers Watson and asphalt and cement maker CRH PLC . The billionaire hedge fund manager has been an almost religious follower of Benjamin Graham's investing style, buying out-of-favor and undervalued assets to ensure a margin of safety. As a result, Klarman has drawn comparisons to Warren Buffett for his patient, disciplined approach, leading some to dub him "The Oracle of Boston" in a nod to "The Oracle of Omaha." The 68-year-old Harvard and Cornell grad published his investment book, "Margin of Safety," in 1991. A long out-of-print cult favorite, a used copy of "Margin of Safety" now fetches almost $4,000 on Amazon . Klarman recently helped update the investment bible " Security Analysis " by Benjamin Graham and David Dodd, written in 1934 in the depths of the Great Depression. Klarman co-founded Baupost in 1982 , when the firm had just $27 million in assets. It scored a 20% average annualized return for the next few decades, posting its best year in 2017, with a 52% return, specializing in buying distressed debt and mortgage securities that had bottomed. However, as growth stocks and technology shares have continued to lead the stock market after a decade of outperformance, value investors like Klarman have struggled with underperformance in recent years. Baupost has returned only about 4% a year in the last decade, and investors have withdrawn roughly $7 billion from the hedge fund over the past three years, according to Bloomberg News.
Business Insider
7 days ago
- Business
- Business Insider
Investing legend Seth Klarman talks about how his hedge fund is using AI: 'Essentially a capable assistant'
Artificial intelligence may one day upend whole industries, but among the hedge fund elite, it's not yet a threat, investing legend and Baupost Group CEO Seth Klarman said. In an episode of Columbia Business School's Value Investing with Legends podcast this month, the hedge fund titan said he and his colleagues mostly use the nascent technology as a time-saver, assigning it tasks that lower-level staffers may have done in the past. "We have ourselves started using it as essentially a capable assistant, a summer intern," Klarman said. "Not somebody who knows which stocks to buy, but a way to tabulate data quicker." Klarman cited a couple of specific examples of how his colleagues have used it. One way was to analyze corporate filings. "He asked AI to take a look at 10 years of annual reports for a company and compare what changed in the annual report from year to year — the way they communicate, which may reveal something about the change in the business, or what the lawyer was worried about, or whatever it might be," Klarman said. Another was to identify company logos that one of his employees had never seen that would help them know an industry landscape better. "He would have run that to an intern, but AI did it in like five minutes and saved three days' worth of work," Klarman said. Klarman also said he's been using AI himself, though he hasn't been particularly impressed. Before he was set to speak at an event with a well-known business executive, he asked a chatbot to generate some questions to ask the person. "What came back was useless," he said. "I like to ask things that they haven't thought about before." Baupost isn't the only firm using AI to increase efficiency. Morgan Stanley and Bank of America have started to train staff to use the technology to boost productivity. Consulting firm ThoughtLinks found in a recent study that by 2030, 44% of a bank's tasks, including 32% of sales and trading work, could be "redefined" by AI. Despite using the technology, Klarman said he's concerned that AI could hurt people's ability to be creative. A recent MIT study backed this up, finding that using AI reduced memory and brain activity. "I think that if we use AI the wrong way, we'll solve the problem without having applied our brains," Klarman said. "It would be like reading the end of a novel and then not needing to really know as well how did the whole thing come about? So I like doing it in order. I think the right order is, 'Here's what I think,' and then I can improve my thinking."
CNBC
15-05-2025
- Business
- CNBC
Seth Klarman's hedge fund Baupost adds a handful of value stocks, including a fintech name
Baupost Group's Seth Klarman took stakes in several underperforming stocks in the first quarter, including fintech name Fidelity National Information Services , according to a new regulatory filing with the SEC. The Boston-based hedge fund manager, who oversees roughly $28 billion in assets , built a $261 million stake in the financial services company in the first three months of 2025, making it his fifth largest holding. It could be a classic value play as Fidelity National fell 7.5% in the first quarter. The stock has since recovered some and was recently down 3% on the year. Baupost also added a $107 million stake in health insurance provider Elevance Health as well as a $71 million bet on Irish healthcare name Icon Plc in the first quarter. Elevance shares are down more than 1% in 2025, while Icon's stock has tumbled nearly 38%. Klarman, a follower of Benjamin Graham 's value investing style, has drawn comparisons to Warren Buffett for his patient, disciplined approach, leading some to dub him "The Oracle of Boston." The 67-year-old Harvard and Cornell grad published his now out-of-print investment guide, "Margin of Safety," in 1991. The book now sells for thousands of dollars online. As growth stocks and technology shares continue to lead the stock market even after a decade of outperformance, value investors like Klarman have struggled with underperformance in recent years. Baupost gained only about 4% a year since 2014, while investors have pulled roughly $7 billion from the hedge fund in the past three years, according to Bloomberg News. Baupost's top holdings at the end of March included John Malone's media conglomerate Liberty Global , Willis Towers Watson and Wesco International .
Yahoo
14-05-2025
- Business
- Yahoo
Seth Klarman's Strategic Moves: Fidelity National Information Services Inc. Takes Center Stage
Seth Klarman (Trades, Portfolio) recently submitted the 13F filing for the first quarter of 2025, providing insights into his investment moves during this period. Seth Klarman (Trades, Portfolio) is a value investor and Portfolio Manager of the investment partnership The Baupost Group, which he founded in 1983. The guru, who authored the $1,000 book "Margin of Safety," received an economics degree at Cornell University and an MBA at Harvard University. Seth Klarman (Trades, Portfolio) invests in a wide array of investments, ranging from fairly traditional value stocks to more esoteric investments like distressed debt, liquidations, and foreign equities or bonds. Klarman doesn't mind "doing nothing" on occasion. He is completely unperturbed by the idea of sitting on the sidelines holding cash whenever investment opportunities are scarce. Investing, he cautions, is more than just producing absolute returns. Too often investors focus on that one easy number "return" and ignore the risks incurred to generate that number. Warning! GuruFocus has detected 2 Warning Sign with WTW. Seth Klarman (Trades, Portfolio) added a total of 4 stocks, among them: The most significant addition was Fidelity National Information Services Inc (NYSE:FIS), with 3,492,947 shares, accounting for 7.49% of the portfolio and a total value of $260,850,000 million. The second largest addition to the portfolio was Elevance Health Inc (NYSE:ELV), consisting of 246,000 shares, representing approximately 3.07% of the portfolio, with a total value of $107,000,000. The third largest addition was Icon PLC (NASDAQ:ICLR), with 405,000 shares, accounting for 2.04% of the portfolio and a total value of $70,870,000. Seth Klarman (Trades, Portfolio) also increased stakes in a total of 6 stocks, among them: The most notable increase was Alphabet Inc (NASDAQ:GOOG), with an additional 652,000 shares, bringing the total to 2,077,988 shares. This adjustment represents a significant 45.72% increase in share count, a 2.93% impact on the current portfolio, with a total value of $324,640,000. The second largest increase was WESCO International Inc (NYSE:WCC), with an additional 569,930 shares, bringing the total to 2,005,601. This adjustment represents a significant 39.7% increase in share count, with a total value of $311,470,000. Seth Klarman (Trades, Portfolio) completely exited 3 of the holdings in the first quarter of 2025, as detailed below: Sunrise Communications AG (NASDAQ:SNRE): Seth Klarman (Trades, Portfolio) sold all 2,335,263 shares, resulting in a -2.94% impact on the portfolio. Humana Inc (NYSE:HUM): Seth Klarman (Trades, Portfolio) liquidated all 346,000 shares, causing a -2.57% impact on the portfolio. Seth Klarman (Trades, Portfolio) also reduced positions in 6 stocks. The most significant changes include: Reduced Liberty Global Ltd (NASDAQ:LBTYK) by 14,796,040 shares, resulting in a -37.5% decrease in shares and a -5.68% impact on the portfolio. The stock traded at an average price of $12.03 during the quarter and has returned -11.05% over the past 3 months and -23.44% year-to-date. Reduced Clarivate PLC (NYSE:CLVT) by 25,501,342 shares, resulting in a -70.29% reduction in shares and a -3.79% impact on the portfolio. The stock traded at an average price of $4.74 during the quarter and has returned -8.16% over the past 3 months and -11.42% year-to-date. At the first quarter of 2025, Seth Klarman (Trades, Portfolio)'s portfolio included 22 stocks, with top holdings including 14.81% in Willis Towers Watson PLC (NASDAQ:WTW), 9.33% in Alphabet Inc (NASDAQ:GOOG), 8.95% in WESCO International Inc (NYSE:WCC), 8.48% in Liberty Global Ltd (NASDAQ:LBTYK), and 7.49% in Fidelity National Information Services Inc (NYSE:FIS). The holdings are mainly concentrated in 9 of all the 11 industries: Communication Services, Technology, Financial Services, Industrials, Basic Materials, Consumer Cyclical, Healthcare, Consumer Defensive, and Energy. This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein. This article first appeared on GuruFocus. Sign in to access your portfolio
