(Bloomberg) -- Seth Klarman’s Baupost Group bought more than 14 million shares of PG&E Corp. in the third quarter, before wildfires roared through the state, crushing the California utility’s stock price.
The hedge fund increased its stake by about $681.7 million for a total value of $873.3 million as of September 30, according to a regulatory filing Tuesday. The shares have plunged about 32 percent since Nov. 8 when the fires broke out in California.
For more on Baupost’s latest 13F holdings, click here
To contact the reporter on this story: Miles Weiss in Washington at mweiss@bloomberg.net
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Vincent Bielski, Melissa Karsh
