Klarman’s hedge fund Baupost adds some value stocks, including a fintech

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Klarman’s hedge fund Baupost adds some value stocks, including a fintech

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 .

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