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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
-4.21%
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
$6B
AUM Growth
+$47.7M
Cap. Flow
+$405M
Cap. Flow %
6.75%
Top 10 Hldgs %
78.57%
Holding
32
New
4
Increased
10
Reduced
6
Closed
–

Top Buys

Rank Stock Value
1
PXD
Pioneer Natural Resource Co.
PXD
+$142M
2
LNG icon
Cheniere Energy
LNG
+$117M
3
FTR
Frontier Communications Corp.
FTR
+$80.3M
4
PBF icon
PBF Energy
PBF
+$66.4M
5
KERX
Keryx Biopharmaceuticals Inc
KERX
+$36.6M

Top Sells

Rank Stock Value
1
AR icon
Antero Resources
AR
+$52.6M
2
KOS icon
Kosmos Energy
KOS
+$11.1M
3
ALDW
Alon USA Partners LP
ALDW
+$6.54M
4
PRTK
Paratek Pharmaceuticals, Inc.
PRTK
+$5.41M
5
ONIT
Onity Group
ONIT
+$1.73M

Sector Composition

Rank Sector Weight
1 Energy 38.97%
2 Technology 21.36%
3 Healthcare 20.29%
4 Consumer Discretionary 9.35%
5 Industrials 2.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KIN
26
DELISTED
Kindred Biosciences, Inc.
KIN
$20.6M 0.34%
3,013,848
– –
BITI
27
DELISTED
BIOTIE THERAPIES CORP SPONSORED ADR
BITI
$17.4M 0.29%
+869,643
New +$18.2M
AOI
28
DELISTED
Alliance One International
AOI
$15.3M 0.25%
638,364
– –
ALDW
29
DELISTED
Alon USA Partners LP
ALDW
$13.2M 0.22%
629,188
-325,000
-34% -$6.54M
SN
30
DELISTED
Sanchez Energy Corporation
SN
$6.07M 0.1%
+619,505
New +$7.49M
TMQ
31
Trilogy Metals
TMQ
$684M
$4.47M 0.07%
10,600,758
+4,595,460
+77% +$2.66M
1
2

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Seth Klarman's Q2 2015 Portfolio in Review

As of Q2 2015, Seth Klarman held 32 positions worth $6B, up 0.8% from $5.95B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Seth Klarman deployed $405M of net new capital in Q2 2015, opening 4 new positions and adding to 10 existing holdings. Its largest new stake was Frontier Communications Corp.: 900,000 shares worth $66.8M.

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

On the sell side, the largest reduction was Antero Resources, an estimated $52.6M trimmed.

  • Seth Klarman's largest Q2 2015 buy was Frontier Communications Corp.: 900,000 shares worth $66.8M.
  • Seth Klarman added most to Pioneer Natural Resource Co. in Q2 2015, an estimated $142M increase.
  • Seth Klarman's biggest Q2 2015 reduction was Antero Resources, cutting an estimated $52.6M.
  • Seth Klarman's ten largest holdings make up 79% of its $6B portfolio in Q2 2015.
  • Seth Klarman opened 4 new positions and closed 0 in Q2 2015.
  • Seth Klarman's portfolio value rose 0.8% quarter-over-quarter to $6B.

Based on Baupost Group's 13F filing for Q2 2015, filed 13 Aug 2015.