Baupost's Seth Klarman took a sizable stake in discount store Dollar General last quarter, while exiting Michael Kors-owner Capri before its megadeal to merge with Tapestry was blocked by regulators.
The notable hedge fund investor built a $195 million stake in Dollar General, making it his eighth-biggest holding at the end of September, according to a new regulatory filing.
The stock took another beating after Donald Trump 's election raised concerns that his proposed universal tariffs could lead to soaring import prices.
Shares of Dollar General have lost 4% this month, pushing its 2024 decline to more than 43%.
Elsewhere, Klarman dumped his $35 million investment in Capri last quarter.
Persons:
Baupost's Seth Klarman, Michael Kors, Capri, Donald Trump, Klarman, Benjamin Graham's, Warren Buffett, Baupost
Organizations:
Dollar, Federal Trade Commission, Boston, Harvard, Cornell grad, Wesco International, Eagle Materials
Locations:
Capri, Tamboran Resources, Australian