Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q3 2014 filing in brief
In its Q3 2014 13F, filed November 14, 2014, Baupost Group reported $5.7B across 27 US positions. The largest: MU (30.8%), LNG (15.6%), VSAT (11.1%), EBAY (6.0%), THERAVANCE INC (5.9%). In the quarter it opened 4 positions, sold out of 1, added to 6 and trimmed 3; positions opened and sold out came to 29.3% 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 Nov 14, 2014
- 4 New
- 6 Added
- 3 Trimmed
- 1 Exited
27 positions at September 30, 2014. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | MU | MICRON TECHNOLOGY INC | $1.8B | 51.7M | 30.82% | 0.0% | Held |
| 2 | LNG | CHENIERE ENERGY INC | $896M | 11.2M | 15.61% | +87.0% | Added |
| 3 | VSAT | VIASAT INC | $636M | 11.5M | 11.07% | 0.0% | Held |
| 4 | EBAY | EBAY INC | $345M | 6.1M | 6.01% | +37.4% | Added |
| 5 | — | THERAVANCE INC | $339M | 19.8M | 5.90% | −2.8% | Trimmed |
| 6 | — | KERYX BIOPHARMACEUTICALS INC | $252M | 18.3M | 4.38% | +73.6% | Added |
| 7 | OCN2EUR | OCWEN FINL CORP | $183M | 7.0M | 3.19% | — | New |
| 8 | PBF | PBF ENERGY INC | $171M | 7.1M | 2.99% | +27.7% | Added |
| 9 | AR | ANTERO RES CORP | $151M | 2.8M | 2.64% | — | New |
| 10 | — | THERAVANCE BIOPHARMA INC | $140M | 6.1M | 2.43% | 0.0% | Held |
| 11 | VRTVEUR | VERITIV CORP | $118M | 2.4M | 2.06% | — | New |
| 12 | — | CITIGROUP INC | $116M | 122.6M | 2.03% | 0.0% | Held |
| 13 | — | RF MICRODEVICES INC | $113M | 9.8M | 1.96% | 0.0% | Held |
| 14 | — | TRIQUINT SEMICONDUCTOR INC | $112M | 5.9M | 1.95% | 0.0% | Held |
| 15 | — | SUNEDISON SEMICONDUCTOR LTD | $80M | 4.1M | 1.40% | 0.0% | Held |
| 16 | — | CHIPMOS TECH BERMUDA LTD | $74M | 3.3M | 1.29% | 0.0% | Held |
| 17 | NG | NOVAGOLD RES INC | $66M | 21.7M | 1.14% | 0.0% | Held |
| 18 | — | KOSMOS ENERGY LTD | $47M | 4.8M | 0.82% | 0.0% | Held |
| 19 | — | SYNERON MEDICAL LTD | $30M | 3.0M | 0.52% | −25.1% | Trimmed |
| 20 | KIN1USD | KINDRED BIOSCIENCES INC | $28M | 3.0M | 0.49% | +9.0% | Added |
| 21 | — | AMERICAN INTL GROUP INC | $19M | 789.0K | 0.33% | 0.0% | Held |
| 22 | INVA 2.125 01/15/23 | THERAVANCE INC | $16M | 17.1M | 0.29% | — | New |
| 23 | — | ALLIANCE ONE INTL INC | $13M | 6.4M | 0.22% | 0.0% | Held |
| 24 | BYD | BOYD GAMING CORP | $10M | 979.5K | 0.17% | −65.0% | Trimmed |
| 25 | ALDWUSD | ALON USA PARTNERS LP | $6M | 329.2K | 0.10% | 0.0% | Held |
| 26 | — | NOVACOPPER INC | $6M | 6.0M | 0.10% | +20.0% | Added |
| 27 | AVEOEUR | AVEO PHARMACEUTICALS INC | $4M | 3.8M | 0.07% | 0.0% | Held |
1 exited position
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 |
|---|---|---|---|
| — | IDENIX PHARMACEUTICALS INC | $1.3B | 53.3M |
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.