Klarman’s Baupost Pares Equity Exposure But Boosts Tech Holdings

Seth Klarman is one of the most successful and well-regarded value investors of all time.

He has been practicing value investing with his hedge fund, the Boston-based Baupost, for more than three decades, and he's seen his fair share of bull and bear markets during this time.

Baupost does not publicize its returns (and they are rarely reported in the media). Still, it has been reported that the hedge fund has generated annual returns in the region at 20% since its inception, and that would put it in the ranks of the best-performing hedge funds of all time.

Q4 2022 hedge fund letters, conferences and more

Unconstrained Investment Mandate

What makes Baupost stand...