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Seth Klarman Baupost Group

AUM $5.42B
1-Year Est. Return 22.93%
 

Seth Klarman is the founder and CEO of the Baupost Group, one of the most respected value-oriented investment firms. He is the author of Margin of Safety and is known for patient, opportunistic capital allocation across equities, credit, and special situations. Klarman’s approach emphasizes downside protection, cash when opportunities are scarce, and independent thinking when markets become crowded.

This Fund
S&P 500
This Quarter Est. Return
-0%
1 Year Est. Return
+22.93%
3 Year Est. Return
+47.86%
5 Year Est. Return
+25.7%
10 Year Est. Return
+163.46%
AUM
$5.74B
AUM Growth
-$399M
Cap. Flow
-$192M
Cap. Flow %
-3.35%
Top 10 Hldgs %
85.05%
Holding
28
New
3
Increased
6
Reduced
3
Closed
1

Top Buys

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$397M
2
ONIT
Onity Group
ONIT
+$211M
3
AR icon
Antero Resources
AR
+$160M
4
KERX
Keryx Biopharmaceuticals Inc
KERX
+$119M
5
VRTV
VERITIV CORPORATION
VRTV
+$100M

Top Sells

Rank Stock Value
1
IDIX
IDENIX PHARMACEUTICALS INC
IDIX
+$1.27B
2
BYD icon
Boyd Gaming
BYD
+$19.7M
3
INVA icon
Innoviva
INVA
+$13.3M
4
ELOS
Syneron Medical Ltd
ELOS
+$10.2M

Sector Composition

Rank Sector Weight
1 Technology 44.59%
2 Energy 22.16%
3 Healthcare 13.8%
4 Consumer Discretionary 6.19%
5 Financials 3.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVEO
26
DELISTED
AVEO Pharmaceuticals, Inc.
AVEO
$4.25M 0.07%
382,935
– –
IDIX
27
DELISTED
IDENIX PHARMACEUTICALS INC
IDIX
– –
-53,331,109
Closed -$1.27B
1
2

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Seth Klarman's Q3 2014 Portfolio in Review

As of Q3 2014, Seth Klarman held 28 positions worth $5.74B, down 6.5% from $6.14B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Seth Klarman withdrew a net $192M in Q3 2014, closing 1 position and reducing 3 holdings. Its most notable exit was IDENIX PHARMACEUTICALS INC, an estimated $1.27B position sold in full.

By sector, the portfolio is most concentrated in Technology at 45% of assets, up from 41% a quarter earlier, followed by Energy and Healthcare.

Against the trend, Seth Klarman opened a new position in Onity Group worth $183M.

  • Seth Klarman's largest Q3 2014 buy was Onity Group: 466,780 shares worth $183M.
  • Seth Klarman added most to Cheniere Energy in Q3 2014, an estimated $397M increase.
  • Seth Klarman's biggest Q3 2014 reduction was Boyd Gaming, cutting an estimated $19.7M.
  • Seth Klarman fully exited IDENIX PHARMACEUTICALS INC in Q3 2014, selling an estimated $1.27B.
  • Seth Klarman's ten largest holdings make up 85% of its $5.74B portfolio in Q3 2014.
  • Seth Klarman opened 3 new positions and closed 1 in Q3 2014.
  • Seth Klarman's portfolio value fell 6.5% quarter-over-quarter to $5.74B.

Based on Baupost Group's 13F filing for Q3 2014, filed 14 Nov 2014.