Baupost’s Seth Klarman drastically elevated his stake in among the greatest expertise corporations within the fourth quarter, simply earlier than the group staged a giant comeback, in accordance a brand new regulatory submitting. The hedge fund supervisor greater than doubled his holding in Google father or mother Alphabet , making it his seventh greatest stake on the finish of 2022. Klarman hiked his Meta wager by 150% to $208 million, and upped his Amazon stake by 300% to a wager value greater than $83 million. Expertise shares, which took a beating final yr amid rising charges, rebounded sharply in 2023. Meta has risen almost 50% yr so far, whereas Amazon has gained almost 19%. Alphabet is up greater than 7% this yr. Meta lately acquired a lift after the social media firm r eported fourth-quarter income that topped estimates and introduced a $40 billion inventory buyback. The longtime worth investor had diminished his stakes in Alphabet and Amazon by almost 60% every within the third quarter as sell-off within the tech sector intensified. Klarman has drawn comparisons to Warren Buffett for his disciplined and affected person worth type. And identical to Buffett, Klarman has elevated his publicity to the tech sector in recent times to benefit from its explosive progress. On this case, Klarman considerably elevated publicity to the group after costs acquired quite a bit cheaper. The hedge fund supervisor stated it posted a mid-single digit decline final yr, beating the S & P 500 which fell almost 20%, the Monetary Occasions reported. He gained $1.6 billion from hedging final yr, which helped offset losses on the lengthy facet, the FT reported. Aside from expertise shares, Klarman added small new bets on cable tv supplier Altice and Herbalife final quarter.