Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q1 2014 filing in brief
In its Q1 2014 13F, filed May 14, 2014, Baupost Group reported $4.1B across 20 US positions. The largest: MU (29.5%), VSAT (19.0%), THERAVANCE INC (15.5%), LNG (7.6%), IDENIX PHARMACEUTICALS INC (7.3%). In the quarter it opened 4 positions, sold out of 3, added to 4 and trimmed 2; positions opened and sold out came to 16.6% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed May 14, 2014
- 4 New
- 4 Added
- 2 Trimmed
- 3 Exited
20 positions at March 31, 2014. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | MU | MICRON TECHNOLOGY INC | $1.2B | 51.7M | 29.54% | 0.0% | Held |
| 2 | VSAT | VIASAT INC | $787M | 11.4M | 19.02% | +2.4% | Added |
| 3 | — | THERAVANCE INC | $641M | 20.7M | 15.49% | +2.8% | Added |
| 4 | LNG | CHENIERE ENERGY INC | $313M | 5.7M | 7.57% | — | New |
| 5 | — | IDENIX PHARMACEUTICALS INC | $303M | 53.3M | 7.32% | +44.5% | Added |
| 6 | BP | BP PLC | $152M | 3.2M | 3.68% | −44.1% | Trimmed |
| 7 | PBF | PBF ENERGY INC | $140M | 5.4M | 3.38% | +174.0% | Added |
| 8 | — | KERYX BIOPHARMACEUTICALS INC | $108M | 6.3M | 2.60% | — | New |
| 9 | NG | NOVAGOLD RES INC | $78M | 21.7M | 1.89% | 0.0% | Held |
| 10 | — | CHIPMOS TECH BERMUDA LTD | $72M | 3.3M | 1.75% | 0.0% | Held |
| 11 | — | CITIGROUP INC | $67M | 104.2M | 1.62% | 0.0% | Held |
| 12 | — | RF MICRODEVICES INC | $52M | 6.6M | 1.25% | — | New |
| 13 | — | TRINQUINT SEMICONDUCTOR INC | $51M | 3.8M | 1.24% | — | New |
| 14 | KIN1USD | KINDRED BIOSCIENCES INC | $51M | 2.8M | 1.24% | −4.7% | Trimmed |
| 15 | — | SYNERON MEDICAL LTD | $50M | 4.0M | 1.20% | 0.0% | Held |
| 16 | — | ALLIANCE ONE INTL INC | $19M | 6.4M | 0.45% | 0.0% | Held |
| 17 | — | AMERICAN INTL GROUP INC | $13M | 656.4K | 0.32% | 0.0% | Held |
| 18 | — | NOVACOPPER INC | $7M | 5.0M | 0.16% | 0.0% | Held |
| 19 | AVEOEUR | AVEO PHARMACEUTICALS INC | $6M | 3.8M | 0.14% | 0.0% | Held |
| 20 | ALDWUSD | ALON USA PARTNERS LP | $5M | 329.2K | 0.13% | 0.0% | Held |
3 exited positions
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| — | FIDELITY NATIONAL FINANCIAL | $64M | 2.0M |
| ROVIEUR | ROVI CORP | $43M | 2.2M |
| ENZNEUR | ENZON PHARMACEUTICALS INC | $5M | 4.3M |
Every quarter on file (53)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.