Baupost Group Loads Up on Tech Giants and Takes Stake in Bill Ackman's Firm
Boston-based investment firm Baupost Group, led by billionaire investor Seth Klarman, made several significant moves in the second quarter. One of its most notable actions was taking a new stake in Pershing Square Inc., valued at nearly $13 million as of June 30.
Baupost also established a substantial position in CME Group, the parent of the Chicago Mercantile Exchange, with a value of approximately $137 million at quarter-end. This represents a significant increase in its holdings in this company.
Klarman's firm further increased its stakes in Amazon and Alphabet, two of the biggest technology companies. Baupost's Amazon position rose by about 20% to 3.74 million shares valued at roughly $892 million. Its Alphabet stake was boosted by around 16% to approximately 1.37 million shares, worth nearly $490 million.
However, Klarman's firm also made some adjustments to its portfolio. Baupost reduced its Restaurant Brands International Inc. position by more than 16%, to about 6.75 million shares worth around $490 million.