Seth Klarman Buys Amazon, Curbs 2 Top Holdings In 2nd Quarter

• The investor entered a position in Amazon
  AMZN
  .
• He added to Fidelity, but cut back on Qorvo
  QRVO
  and Alphabet
  GOOGL
  .
• His investment in Garrett Motion’s preferred stock was dissolved, but his stake in its common shares grew.

Baupost Group leader Seth Klarman disclosed his equity portfolio for the second quarter earlier this month.

The guru’s Boston-based hedge fund searches for value among a broad range of opportunities, including stocks, distressed debt, liquidations and foreign securities. With a long-term horizon, the renowned investor typically seeks securities trading well below his estimate of intrinsic value and waits for the price to rise. Baupost manages about $31.6 billion in assets.