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Seth Klarman’s Baupost Group snapped up millions of shares in a little-known data analytics stock in the third quarter, according to the latest regulatory fillings. The value-oriented, Boston-based hedge fund opened a 22.5-million share position in Clarivate Plc worth some $151 million in the third quarter, according to Baupost’s 13F filing to the Securities and Exchange Commission. Clarivate, whose shares jumped more than 11% in midday trading Tuesday, provides professional services and workflow solutions for public sector agencies and private sector businesses. CLVT YTD mountain Clarivate shares this year Klarman picked up the stock as London-based Clarivate tumbled nearly 30% in the third quarter. The stock has made up some ground in the fourth quarter, gaining 7% since the end of September. Still, it’s a relatively small position for Baupost, failing to crack the fund’s top 10 holdings by dollar value, according to InsiderScore. In other moves, Klarman added positions in Jacobs Solutions and Tower Semiconductor among others in the third quarter. Baupost also raised its Dollar General position by almost four fold. The discount retailer slid 38% in the third quarter and has been cut in half in all of 2023. The loss would be worse, but since the start of the fourth quarter, Dollar General is almost 15% higher. Klarman also raised his stake in Fidelity National and Willis Tower Watson . He lowered his exposure to a handful of stocks, including Herbalife , Qorvo and Viasat . Holdings in Amazon and Union Pacific were cut to zero. Both were down in the third quarter, but posted narrower losses than the broad S & P 500 .
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