Warren Buffett Disciple Seth Klarman Takes New Stake In Railroad Company, Lowers Stake In This Magnificent Seven Stock

Union Pacific

The Baupost Group hedge fund, run by Seth Klarman, revealed several new stock positions in the third quarter and multiple changes to the fund's investment portfolio.

Here’s a look at the new positions as of Sept. 30 and the top changes made in the third quarter.

New Positions

In the third quarter, Baupost took new stakes in several companies. Here are the new stock positions listed below:

• Union Pacific Corp (NYSE:UNP): 1,496,204 shares
• Genuine Parts Company (NYSE:GPC): 1,395,000 shares
• Americold Realty Trust (NYSE:COLD): 3,600,000 shares

Based on the new filings, Union Pacific becomes one of the fund's top holdings. Klarman is known to follow the value investing principles of Warren Buffett. Some of these new holdings could follow that strategy.

Exited Positions

In the third quarter, Baupost exited its positions in several companies.

Here are the positions that were completed exited by Baupost in the third quarter, as reported by 13finfo:

• Liberty Broadband Class A (NASDAQ:LBRDA)
• Amcor PLC (NYSE:AMCR)
• ICON PLC (NASDAQ:ICLR)
• Liberty Broadband Class C (NASDAQ:LBRDK)
• Viasat Inc (NASDAQ:VSAT)

Read Also: Seth Klarman Once Said ‘Productive Worrying’ Is A Good Habit To Help Get A Measure Of ‘Risk’ — Here’s What He Meant

Changes to Positions

Along with the new positions disclosed in the latest 13F filing, Baupost revealed changes to existing stock positions.

Here were the stocks with the largest increases in the third quarter, ranked by the percentage change in shares:

• Elevance Health (NYSE:ELV): +114%
• Restaurant Brands International (NYSE:QSR): +104%
• Eagle Materials Inc (NYSE:EXP): +39%
• Ferguson Enterprises Inc (NYSE:FERG): +2%

Here were the stocks with the largest decreases in the second quarter, ranked by the percentage change in shares:

• WESCO International (NYSE:WCC): -32%
• Alphabet Inc (NASDAQ:GOOG): -29%
• Willis Towers Watson (NASDAQ:WTW): -17%
• Liberty Global (NASDAQ:LBTYK): -12%
• CRH Plc (NYSE:CRH): -12%

Here are the top holdings in the fund overall, as of Sept. 30:

Restaurant Brands International: 11%

• Alphabet: 9.4%
• Elevance Health: 8.9%
• CRH Plc: 8.5%
• Willis Towers Watson: 7.9%
• Union Pacific: 7.4%
• WESCO International: 6.6%
• Dollar General Corporation (NYSE:DG): 5.8%
• Ferguson Enterprises: 5.2%
• Liberty Global: 5.3%

Among the top holdings, Dollar General was the only position that didn’t see a change in the third quarter by the hedge fund.

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