We just covered Forget AI: Legendary Value Investor Seth Klarman Is Buying These 10 Value Stocks in 2026.
DNOW Inc. (NYSE:DNOW) ranks #10 (see Seth Klarman Is Buying These 5 Value Stocks in 2026)
Baupost’s Stake: $43,174,000 DNOW Inc. (NYSE:DNOW) is a distributor of energy and industrial products, spun off from National Oilwell Varco in 2014. The stock is down about 9% over the past year. Its merger with MRC Global has transformed the company into a $2.22 billion business with a diversified revenue mix across upstream energy (41%), midstream (21%), gas utilities (21%), and downstream and industrial (17%).
The stock has taken a beating since the deal closed, weighed down by merger-related accounting charges and a messy Oracle ERP system conversion at legacy MRC Global. Bulls believe the selloff is an overreaction that creates a compelling entry point for long-term investors. Key growth catalysts are building.