Billionaire Seth Klarman’s 10 Stock Picks with Huge Upside Potential

5. Liberty Global Ltd. (NASDAQ:LBTYK)

Upside Potential as of April 29: 39.86%

Baupost Group’s Stake Value: $518,423,000

Liberty Global Ltd. (NASDAQ:LBTYK) is a multinational telecommunications company that operates primarily in Europe. It provides broadband internet, mobile communications, and television services to residential customers, businesses, and organizations.

In Q4 2024, Liberty Global Ltd. (NASDAQ:LBTYK) reported solid financial performance across its operations. For the full year, the company generated approximately $22 billion in revenue and $8 billion in adjusted EBITDA across its four primary markets. The company has completed several strategic objectives, including spinning off Sunrise to Liberty Global shareholders in November 2024. This transaction delivered a $9 tax-free dividend on an $18 stock. Liberty Global (NASDAQ:LBTYK) is also making significant progress on its UK network company separation with proposals received from Tier 1 infrastructure investors.

The company is doubling down on its active capital management strategy. It repurchased about 10% of its shares in 2024, totaling approximately $700 million, and plans to purchase up to 10% of shares outstanding in 2025. Perhaps this is why this stock accounts for 15% of Seth Klarman’s public equities portfolio. Other institutional investors with substantial interest in the stock include Stifel Financial Corp, Blue Trust Inc., and Bank of New York Mellon Corp. All of these raised their position in the stock in the past quarter. Analysts hold a Moderate Buy opinion on Liberty Global Ltd. (NASDAQ:LBTYK), and their 12-month median price target points to a 39.86% upside from current levels as of April 29.