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SK

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
+3.91%
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
$5.95B
AUM Growth
+$860M
Cap. Flow
+$780M
Cap. Flow %
13.1%
Top 10 Hldgs %
80.15%
Holding
29
New
2
Increased
8
Reduced
1
Closed
1

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$487M
2
SEMI
SunEdison Semiconductor Limited
SEMI
+$80.7M
3
ATRA icon
Atara Biotherapeutics
ATRA
+$59.9M
4
KLXI
KLX Inc.
KLXI
+$59.4M
5
AR icon
Antero Resources
AR
+$56.3M

Top Sells

Rank Stock Value
1
ELOS
Syneron Medical Ltd
ELOS
+$22.5M
2
VRTV
VERITIV CORPORATION
VRTV
+$1.99M

Sector Composition

Rank Sector Weight
1 Energy 39.29%
2 Technology 25.32%
3 Healthcare 18.94%
4 Consumer Discretionary 9.03%
5 Industrials 2.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AOI
26
DELISTED
Alliance One International
AOI
$7.02M 0.12%
638,364
– –
TMQ
27
Trilogy Metals
TMQ
$684M
$3.58M 0.06%
6,005,298
– –
ELOS
28
DELISTED
Syneron Medical Ltd
ELOS
– –
-2,416,310
Closed -$22.5M
1
2

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Seth Klarman's Q1 2015 Portfolio in Review

As of Q1 2015, Seth Klarman held 29 positions worth $5.95B, up 17% from $5.09B the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Seth Klarman deployed $780M of net new capital in Q1 2015, opening 2 new positions and adding to 8 existing holdings. Its largest new stake was Pioneer Natural Resource Co.: 3,166,937 shares worth $518M.

By sector, the portfolio is most concentrated in Energy at 39% of assets, up from 33% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was VERITIV CORPORATION, an estimated $1.99M trimmed.

  • Seth Klarman's largest Q1 2015 buy was Pioneer Natural Resource Co.: 3,166,937 shares worth $518M.
  • Seth Klarman added most to SunEdison Semiconductor Limited in Q1 2015, an estimated $80.7M increase.
  • Seth Klarman's biggest Q1 2015 reduction was VERITIV CORPORATION, cutting an estimated $1.99M.
  • Seth Klarman fully exited Syneron Medical Ltd in Q1 2015, selling an estimated $22.5M.
  • Seth Klarman's ten largest holdings make up 80% of its $5.95B portfolio in Q1 2015.
  • Seth Klarman opened 2 new positions and closed 1 in Q1 2015.
  • Seth Klarman's portfolio value rose 17% quarter-over-quarter to $5.95B.

Based on Baupost Group's 13F filing for Q1 2015, filed 15 May 2015.