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Seth Klarman’s Baupost Bought $900 Million Stake in Intel (2)

Feb. 13, 2021, 12:11 AM

Seth Klarman’s Baupost Group bought a $900 million stake in Intel Corp. in the fourth quarter as the chipmaker’s shares were tumbling.

The Boston-based hedge fund firm disclosed the new Intel position in a regulatory filing Friday. Baupost held $10.8 billion of U.S. equities at the end of the quarter, a $1.6 billion increase from the prior period, according to the filing.

Intel shares plummeted to close at a 52-week low of $44.11 each in late October. The shares have since recovered, closing today at $61.81 each, giving Baupost’s reported stake a market value of about $1.12 billion, provided ...

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