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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
+2.14%
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
$6.92B
AUM Growth
+$1.41B
Cap. Flow
+$1.24B
Cap. Flow %
17.9%
Top 10 Hldgs %
79.86%
Holding
42
New
5
Increased
10
Reduced
4
Closed
6

Top Buys

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$573M
2
AGN
Allergan plc
AGN
+$493M
3
LNG icon
Cheniere Energy
LNG
+$122M
4
VMW
VMware, Inc
VMW
+$112M
5
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
+$96.3M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$146M
2
FTR
Frontier Communications Corp.
FTR
+$51M
3
ONIT
Onity Group
ONIT
+$36.2M
4
FTRPR
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
+$29.8M
5
KOS icon
Kosmos Energy
KOS
+$24M

Sector Composition

Rank Sector Weight
1 Technology 35.89%
2 Energy 27.53%
3 Healthcare 17.23%
4 Communication Services 6.06%
5 Financials 4%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LQ
26
DELISTED
La Quinta Holdings Inc.
LQ
$13.9M 0.2%
+1,111,000
New +$12.6M
OREX
27
DELISTED
Orexigen Therapeutics, Inc.
OREX
$12.5M 0.18%
2,226,840
+2,000,000
+882% +$26M
KIN
28
DELISTED
Kindred Biosciences, Inc.
KIN
$10.4M 0.15%
3,013,848
– –
C.WS.A
29
DELISTED
Citigroup Inc
C.WS.A
$10.3M 0.15%
102,553,207
– –
BXE
30
DELISTED
Bellatrix Exploration Ltd.
BXE
$8.74M 0.13%
1,730,656
-3,067,444
-64% -$16.6M
GNW icon
31
Genworth Financial
GNW
$3.73B
$4.64M 0.07%
+1,699,195
New +$4.3M
TMQ
32
Trilogy Metals
TMQ
$684M
$4.03M 0.06%
10,600,758
– –
KOS icon
33
Kosmos Energy
KOS
$1.76B
– –
-4,618,796
Closed -$24M
MU icon
34
Micron Technology
MU
$1.09T
– –
-1,000,000
Closed -$14.2M
ONIT
35
Onity Group
ONIT
$301M
– –
-346,695
Closed -$36.2M
SN
36
DELISTED
Sanchez Energy Corporation
SN
– –
-2,000,000
Closed -$8.62M
FTRPR
37
DELISTED
Frontier Communications Corporation 11.125% Series A Mandatory Convertible Preferred Stock
FTRPR
– –
-325,000
Closed -$29.8M
FTR
38
DELISTED
Frontier Communications Corp.
FTR
– –
-727,682
Closed -$51M
1
2

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Seth Klarman's Q1 2016 Portfolio in Review

As of Q1 2016, Seth Klarman held 42 positions worth $6.92B, up 26% from $5.51B the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Seth Klarman deployed $1.24B of net new capital in Q1 2016, opening 5 new positions and adding to 10 existing holdings. Its largest new stake was Allergan plc: 1,721,587 shares worth $461M.

By sector, the portfolio is most concentrated in Technology at 36% of assets, up from 30% a quarter earlier, followed by Energy and Healthcare.

On the sell side, the largest reduction was PayPal, an estimated $146M trimmed.

  • Seth Klarman's largest Q1 2016 buy was Allergan plc: 1,721,587 shares worth $461M.
  • Seth Klarman added most to EMC CORPORATION in Q1 2016, an estimated $573M increase.
  • Seth Klarman's biggest Q1 2016 reduction was PayPal, cutting an estimated $146M.
  • Seth Klarman fully exited Frontier Communications Corp. in Q1 2016, selling an estimated $51M.
  • Seth Klarman's ten largest holdings make up 80% of its $6.92B portfolio in Q1 2016.
  • Seth Klarman opened 5 new positions and closed 6 in Q1 2016.
  • Seth Klarman's portfolio value rose 26% quarter-over-quarter to $6.92B.

Based on Baupost Group's 13F filing for Q1 2016, filed 13 May 2016.