CLEANING AND RESTRUCTURING TEXT… [PROCESSED OUTPUT] Baupost Capital Acquires Stake in Pershing Square, Scales Tech Positions
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Seth Klarman’s Baupost Group established new positions in Bill Ackman’s recently public asset management firm Pershing Square Inc. (PS) during the second quarter, simultaneously strengthening key technology investments. The Boston-based firm reported a $13 million stake in Pershing Square through regulatory filings, while significantly expanding holdings in major tech entities.
Notably, Baupost increased its position in CME Group, parent of the Chicago Mercantile Exchange, to $137 million at quarter-end. The firm also grew its Amazon shareholding by 20% to 3.74 million shares valued at $892 million, maintaining its position as the largest disclosed equity holding. Simultaneously, Baupost boosted Alphabet shares by approximately 16%, reaching 1.37 million shares valuing $490 million at quarter-close.
Baupost reduced its Restaurant Brands International position by more than 16% to approximately 6.75 million shares worth $490 million, demonstrating portfolio rebalancing activity.
The filings exclusively cover U.S.-listed equity positions through June 30, excluding derivatives or short-term positions.
Klarman, 69, maintains a Graham-inspired value investing approach with patient, countercyclical strategies that have warranted long-standing comparisons to Warren Buffett. His 1991 seminal work, Margin of Safety, has become an investment community cornerstone, commanding premium prices in the collectibles market due to its limited availability.
