Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q3 2016 filing in brief
In its Q3 2016 13F, filed November 14, 2016, Baupost Group reported $7.0B across 44 US positions. The largest: LNG (17.3%), VSAT (12.2%), SYF (7.0%), ALLERGAN PLC (6.5%), AR (5.6%). In the quarter it opened 12 positions, sold out of 7, added to 3 and trimmed 6; positions opened and sold out came to 43.3% 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, 2016
- 12 New
- 3 Added
- 6 Trimmed
- 7 Exited
44 positions at September 30, 2016. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | LNG | CHENIERE ENERGY INC | $1.2B | 27.8M | 17.25% | −6.7% | Trimmed |
| 2 | VSAT | VIASAT INC | $861M | 11.5M | 12.24% | 0.0% | Held |
| 3 | SYF | SYNCHRONY FINL | $492M | 17.6M | 6.99% | — | New |
| 4 | — | ALLERGAN PLC | $461M | 2.0M | 6.55% | 0.0% | Held |
| 5 | AR | ANTERO RES CORP | $391M | 14.5M | 5.56% | 0.0% | Held |
| 6 | PBF | PBF ENERGY INC | $356M | 15.7M | 5.06% | +47.8% | Added |
| 7 | — | DELL TECHNOLOGIES INC | $318M | 6.7M | 4.52% | — | New |
| 8 | — | TWENTY FIRST CENTY FOX INC | $309M | 12.7M | 4.39% | +65.6% | Added |
| 9 | — | THERAVANCE BIOPHARMA INC | $266M | 7.4M | 3.79% | 0.0% | Held |
| 10 | PYPL | PAYPAL HLDGS INC | $205M | 5.0M | 2.91% | −11.7% | Trimmed |
| 11 | — | TWENTY FIRST CENTY FOX INC | $180M | 7.3M | 2.56% | 0.0% | Held |
| 12 | INVA | INNOVIVA INC | $164M | 14.9M | 2.33% | −15.2% | Trimmed |
| 13 | VRTVEUR | VERITIV CORP | $153M | 3.0M | 2.17% | 0.0% | Held |
| 14 | — | KERYX BIOPHARMACEUTICALS INC | $137M | 25.8M | 1.95% | 0.0% | Held |
| 15 | — | NORTHSTAR ASSET MGMT GROUP I | $128M | 9.9M | 1.82% | — | New |
| 16 | OLN | OLIN CORP | $127M | 6.2M | 1.80% | −42.4% | Trimmed |
| 17 | VMWEUR | VMWARE INC | $118M | 1.6M | 1.67% | −28.8% | Trimmed |
| 18 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $115M | 5.4M | 1.63% | 0.0% | Held |
| 19 | — | FORWARD PHARMA A/S | $113M | 5.4M | 1.60% | 0.0% | Held |
| 20 | — | LIBERTY INTERACTIVE CORP | $98M | 2.5M | 1.40% | 0.0% | Held |
| 21 | — | COLONY CAP INC | $81M | 4.4M | 1.15% | — | New |
| 22 | — | CHIPMOS TECH BERMUDA LTD | $74M | 3.8M | 1.06% | 0.0% | Held |
| 23 | — | NORTHSTAR RLTY FIN CORP | $72M | 5.5M | 1.03% | — | New |
| 24 | — | KLX INC | $70M | 2.0M | 1.00% | 0.0% | Held |
| 25 | — | SILVER RUN ACQUISITION CORP | $59M | 3.8M | 0.84% | 0.0% | Held |
| 26 | — | AMERICAN INTL GROUP INC | $55M | 2.6M | 0.78% | +1.7% | Added |
| 27 | NG | NOVAGOLD RES INC | $53M | 9.5M | 0.76% | 0.0% | Held |
| 28 | BATRK | LIBERTY MEDIA CORP DELAWARE | $52M | 3.0M | 0.74% | 0.0% | Held |
| 29 | ODPEUR | OFFICE DEPOT INC | $46M | 13.0M | 0.66% | — | New |
| 30 | — | CASCADIAN THERAPEUTICS INC | $41M | 25.0M | 0.58% | 0.0% | Held |
| 31 | INVA 2.125 01/15/23 | THERAVANCE INC | $41M | 48.2M | 0.58% | 0.0% | Held |
| 32 | — | CONYERS PK ACQUISITION | $37M | 3.7M | 0.53% | — | New |
| 33 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $27M | 2.0M | 0.38% | 0.0% | Held |
| 34 | — | SABAN CAP ACQUISITION CORP | $23M | 2.3M | 0.33% | — | New |
| 35 | CACC | CREDIT ACCEP CORP MICH | $20M | 100.0K | 0.29% | 0.0% | Held |
| 36 | RUN | SUNRUN INC | $18M | 2.8M | 0.26% | 0.0% | Held |
| 37 | KIN1USD | KINDRED BIOSCIENCES INC | $15M | 3.0M | 0.21% | −0.1% | Held |
| 38 | BATRA | LIBERTY MEDIA CORP DELAWARE | $14M | 800.0K | 0.20% | 0.0% | Held |
| 39 | — | OREXIGEN THERAPEUTICS INC | $7M | 2.2M | 0.11% | — | New |
| 40 | — | TOBIRA THERAPEUTICS INC | $6M | 160.8K | 0.09% | — | New |
| 41 | TMQ | TRILOGY METALS INC NEW | $6M | 10.6M | 0.08% | — | New |
| 42 | — | CITIGROUP INC | $5M | 102.6M | 0.08% | 0.0% | Held |
| 43 | — | SILVER RUN ACQUISITION CORP | $5M | 950.0K | 0.07% | −24.0% | Trimmed |
| 44 | — | CONYERS PK ACQUISITION | $1M | 1.2M | 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 |
|---|---|---|---|
| — | E M C CORP MASS | $1.5B | 57.0M |
| C | CITIGROUP INC | $219M | 5.2M |
| CAR | AVIS BUDGET GROUP | $58M | 1.8M |
| — | SUNEDISON SEMICONDUCTOR LTD | $50M | 8.4M |
| — | OCH ZIFF CAP MGMT GROUP | $13M | 3.4M |
| — | OREXIGEN THERAPEUTICS INC | $10M | 22.3M |
| — | NOVACOPPER INC | $5M | 10.6M |
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.