Seth Klarman says he was a 'significant' seller during the market's second-quarter comeback

Seth Klarman, chief executive officer of The Baupost Group LLC, listens during an interview in New York, June 8, 2018.
Jeenah Moon | Bloomberg | Getty Images

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Seth Klarman's Baupost Group dumped stocks in the previous quarter despite the historic market rally. The billionaire investor said a handful of stocks led the gains in his hedge fund.

Klarman has drawn comparisons to Warren Buffett for his disciplined and patient value style. His hedge fund manages about $30 billion as of 2019.