Baupost's Seth Klarman found a couple of buying opportunities in the high-flying tech sector at the end of last year, as the hedge fund manager disclosed new stakes in the software and fintech space. Klarman added about 3 million shares of fintech name Fiserv , which are worth north of $300 million, in the fourth quarter, according to a recent 13F filing with the Securities and Exchange Commission. The new stake is now the 10th-biggest holding in Baupost's equity portfolio, according to InsiderScore. The longtime investor also made a new bet on software company NortonLifeLock at the end of 2021, owning more than 5 million shares worth about $150 million, the filing showed. Klarman has drawn comparisons to Warren Buffett for his disciplined and patient value style. To take advantage of the growth rotation in recent years, Klarman has been increasing his exposure in tech stocks and even delved into the red-hot special purpose acquisition company market for growth, including investments in Bill Ackman's Pershing Square Tontine Holdings . "Amidst a roaring bull market with swollen valuations, one might think that Baupost would experience a drought of investments that meet our criteria for return and risk," Klarman said last month in an investor letter obtained by CNBC. "We are pleased to report instead that the shelves of opportunity today are fairly well-stocked." The majority of Baupost's top holdings are in the technology sector with big stakes in Qorvo , Intel, ViaSat , Alphabet and Meta Platforms . In the fourth quarter, Baupost also added a $45 million new bet on Southeast Asia's ride-hailing giant Grab , which went public last year via Altimeter Growth Corp in one of the biggest SPAC mergers. The investor recently issued a warning on surging inflation , saying it poses a "real danger" to the markets, and he's hedging against outsized price gains.
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Baupost's Seth Klarman found a couple of buying opportunities in the high-flying tech sector at the end of last year, as the hedge fund manager disclosed new stakes in the software and fintech space.