Baupost’s Seth Klarman dumped several stocks in the fourth quarter, while trimming some of his biggest holdings, including Google and YouTube owner Alphabet , according to a new regulatory filing. The hedge fund manager, who oversees almost $30 billion in assets , exited his stake in Coinbase , which was worth more than $70 million in the third quarter of 2023. After soaring 130% in the fourth quarter, Coinbase has retreated nearly 20% in the first quarter of 2024. Baupost also sold its holdings in Dollar General , Seagate Technology , Qorvo , Trilogy Metals and Advantage Solutions . Among Baupost’s top holdings, the hedge fund cut its stakes in Alphabet , Fidelity National Information Services and Just Eat Takeaway. Its biggest holding remained John Malone’s media conglomerate Liberty Global . During his last CNBC appearance in mid-2023, Klarman warned of an “everything bubble,” sounding the alarm on cryptocurrencies, SPACs and a host of other speculative trends. He also said real estate has become a “hunting ground” for him “to buy, to inject capital, to make some rescue loans.” Klarman, a follower of Benjamin Graham’s investing style, has drawn comparisons to Warren Buffett for his patient, disciplined approach, leading some to dub him The Oracle of Boston. The 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. The 66-year-old recently helped update the value investment bible ” Security Analysis ” by Graham and David Dodd, written in 1934 in the depths of the Great Depression and a roadmap for investors ever since.
