Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q2 2016 filing in brief
In its Q2 2016 13F, filed August 12, 2016, Baupost Group reported $7.4B across 39 US positions. The largest: E M C CORP MASS (21.0%), LNG (15.2%), VSAT (11.2%), ALLERGAN PLC (6.3%), AR (5.1%). In the quarter it opened 10 positions, sold out of 7, added to 5 and trimmed 4; positions opened and sold out came to 9% 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 Aug 12, 2016
- 10 New
- 5 Added
- 4 Trimmed
- 7 Exited
39 positions at June 30, 2016. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | E M C CORP MASS | $1.5B | 57.0M | 21.01% | +9.9% | Added |
| 2 | LNG | CHENIERE ENERGY INC | $1.1B | 29.8M | 15.21% | 0.0% | Held |
| 3 | VSAT | VIASAT INC | $823M | 11.5M | 11.18% | 0.0% | Held |
| 4 | — | ALLERGAN PLC | $463M | 2.0M | 6.28% | +16.3% | Added |
| 5 | AR | ANTERO RES CORP | $377M | 14.5M | 5.12% | −32.5% | Trimmed |
| 6 | OLN | OLIN CORP | $267M | 10.7M | 3.62% | 0.0% | Held |
| 7 | PBF | PBF ENERGY INC | $253M | 10.6M | 3.43% | 0.0% | Held |
| 8 | C | CITIGROUP INC | $219M | 5.2M | 2.97% | — | New |
| 9 | — | TWENTY FIRST CENTY FOX INC | $208M | 7.7M | 2.83% | 0.0% | Held |
| 10 | PYPL | PAYPAL HLDGS INC | $207M | 5.7M | 2.81% | −19.8% | Trimmed |
| 11 | — | TWENTY FIRST CENTY FOX INC | $198M | 7.3M | 2.69% | 0.0% | Held |
| 12 | INVA | INNOVIVA INC | $185M | 17.6M | 2.52% | −11.1% | Trimmed |
| 13 | — | KERYX BIOPHARMACEUTICALS INC | $171M | 25.8M | 2.32% | 0.0% | Held |
| 14 | — | THERAVANCE BIOPHARMA INC | $167M | 7.4M | 2.26% | +13.1% | Added |
| 15 | VMWEUR | VMWARE INC | $129M | 2.3M | 1.75% | 0.0% | Held |
| 16 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $121M | 5.4M | 1.64% | 0.0% | Held |
| 17 | VRTVEUR | VERITIV CORP | $114M | 3.0M | 1.55% | 0.0% | Held |
| 18 | — | FORWARD PHARMA A/S | $98M | 5.4M | 1.32% | 0.0% | Held |
| 19 | — | LIBERTY INTERACTIVE CORP | $92M | 2.5M | 1.24% | — | New |
| 20 | — | CHIPMOS TECH BERMUDA LTD | $68M | 3.8M | 0.92% | 0.0% | Held |
| 21 | — | KLX INC | $62M | 2.0M | 0.84% | 0.0% | Held |
| 22 | NG | NOVAGOLD RES INC | $58M | 9.5M | 0.79% | −36.7% | Trimmed |
| 23 | CAR | AVIS BUDGET GROUP | $58M | 1.8M | 0.78% | — | New |
| 24 | — | SUNEDISON SEMICONDUCTOR LTD | $50M | 8.4M | 0.67% | 0.0% | Held |
| 25 | — | AMERICAN INTL GROUP INC | $48M | 2.6M | 0.65% | +20.1% | Added |
| 26 | BATRK | LIBERTY MEDIA CORP DELAWARE | $44M | 3.0M | 0.60% | — | New |
| 27 | INVA 2.125 01/15/23 | THERAVANCE INC | $39M | 48.2M | 0.53% | 0.0% | Held |
| 28 | — | SILVER RUN ACQUISITION CORP | $37M | 3.8M | 0.50% | — | New |
| 29 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $28M | 2.0M | 0.39% | +32.4% | Added |
| 30 | — | CASCADIAN THERAPEUTICS INC | $24M | 25.0M | 0.32% | — | New |
| 31 | CACC | CREDIT ACCEP CORP MICH | $19M | 100.0K | 0.25% | — | New |
| 32 | RUN | SUNRUN INC | $17M | 2.8M | 0.23% | 0.0% | Held |
| 33 | — | OCH ZIFF CAP MGMT GROUP | $13M | 3.4M | 0.17% | — | New |
| 34 | BATRA | LIBERTY MEDIA CORP DELAWARE | $12M | 800.0K | 0.16% | — | New |
| 35 | KIN1USD | KINDRED BIOSCIENCES INC | $11M | 3.0M | 0.14% | 0.0% | Held |
| 36 | — | OREXIGEN THERAPEUTICS INC | $10M | 22.3M | 0.13% | 0.0% | Held |
| 37 | — | CITIGROUP INC | $6M | 102.6M | 0.08% | 0.0% | Held |
| 38 | — | NOVACOPPER INC | $5M | 10.6M | 0.07% | 0.0% | Held |
| 39 | — | SILVER RUN ACQUISITION CORP | $1M | 1.3M | 0.02% | — | New |
7 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 |
|---|---|---|---|
| — | SILVER RUN ACQUISITION CORP | $39M | 3.8M |
| — | BIOTIE THERAPIES OYJ | $37M | 1.4M |
| EXE 2.5 05/15/37 * | CHESAPEAKE ENERGY CORP | $15M | 23.3M |
| — | LA QUINTA HLDGS INC | $14M | 1.1M |
| — | BELLATRIX EXPLORATION LTD | $9M | 8.7M |
| EXE 2.5 05/15/37 | CHESAPEAKE ENERGY CORP | $7M | 11.5M |
| GNW | GENWORTH FINL INC | $5M | 1.7M |
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.