15 Best Stocks to Buy According to Billionaire Seth Klarman

12. Fiserv, Inc. (NASDAQ:FISV)

Baupost Group’s Stake: $148 Million

Fiserv, Inc. (NASDAQ:FISV) first appeared in the Baupost 13F portfolio at the end of the fourth quarter of 2021. Back then, the holding comprised over 3 million shares. Klarman then added to this holding, growing it to nearly 4 million shares in the next quarter. However, by the middle of 2023, this stake had been sold off completely. A new position was then opened in the second quarter of 2025, comprising close to 900,000 shares. Baupost then added to this holding in the fourth quarter of 2025, growing it by more than 145% to 2.2 million shares. The company is a classic example of a value firm not paying a dividend. In his book Margin of Safety, Klarman has explained his reasoning behind investments in such firms. He says that stocks should simply not be bought on the basis of their dividend yield. Per Klarman, too often struggling companies sport high dividend yields, not because the dividends have been increased, but because the share prices have fallen. He adds that fearing that the stock price will drop further if the dividend is cut, management maintains the payout, weakening the company even more.

Fiserv, Inc. (NASDAQ:FISV) stock has jumped since mid-February amid reports that activist investor Jana Partners has built a stake in the company and is pushing for changes to boost the stock price. The stock had plunged in October 2025 as the Milwaukee-based fintech revamped its leadership, refreshed its board, slashed its full-year earnings guidance, and launched a new action plan after its Q3 earnings fell short of Wall Street consensus.

Fiserv, Inc. (NASDAQ:FISV) provides payments and financial services technology solutions in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally.