Billionaire Seth Klarman's Baupost Group held a substantial position in Liberty Global at the end of the third quarter of 2024. The fund invested 26% of its public equities portfolio in Liberty Class C shares and another 4.3% in Class A shares. This combined stake represents a significant portion of Baupost's $3.5 billion equities portfolio.
Liberty Global's management, in February of this year, suggested a sum-of-the-parts valuation of $48 per share, implying significant upside from its trading price of $12.40 as of December 20. This valuation perspective aligns with Klarman's value investing approach.
The company ended the third quarter of 2024 with $3.5 billion in cash. Management has also taken steps to create shareholder value, including selling divisions, spinning off its Swiss communications arm Sunrise in early November, and buying back shares.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.