Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2016 filing in brief
In its Q4 2016 13F, filed February 14, 2017, Baupost Group reported $7.7B across 44 US positions. The largest: LNG (11.7%), VSAT (11.4%), SYF (9.8%), ALLERGAN PLC (9.4%), TWENTY FIRST CENTY FOX INC (7.0%). In the quarter it opened 13 positions, sold out of 13, added to 9 and trimmed 3; positions opened and sold out came to 20.2% 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 Feb 14, 2017
- 13 New
- 9 Added
- 3 Trimmed
- 13 Exited
44 positions at December 31, 2016. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | LNG | CHENIERE ENERGY INC | $900M | 21.7M | 11.74% | −22.0% | Trimmed |
| 2 | VSAT | VIASAT INC | $871M | 13.2M | 11.36% | +14.1% | Added |
| 3 | SYF | SYNCHRONY FINL | $750M | 20.7M | 9.77% | +17.6% | Added |
| 4 | — | ALLERGAN PLC | $721M | 3.4M | 9.40% | +71.5% | Added |
| 5 | — | TWENTY FIRST CENTY FOX INC | $537M | 19.1M | 7.00% | +50.1% | Added |
| 6 | PBF | PBF ENERGY INC | $438M | 15.7M | 5.72% | 0.0% | Held |
| 7 | — | DELL TECHNOLOGIES INC | $366M | 6.7M | 4.77% | 0.0% | Held |
| 8 | AR | ANTERO RES CORP | $343M | 14.5M | 4.47% | 0.0% | Held |
| 9 | — | THERAVANCE BIOPHARMA INC | $296M | 9.3M | 3.85% | +26.2% | Added |
| 10 | — | NORTHSTAR ASSET MGMT GROUP I | $279M | 18.7M | 3.64% | +88.7% | Added |
| 11 | — | NORTHSTAR RLTY FIN CORP | $221M | 14.6M | 2.88% | +165.1% | Added |
| 12 | — | TWENTY FIRST CENTY FOX INC | $198M | 7.3M | 2.59% | 0.0% | Held |
| 13 | VRTVEUR | VERITIV CORP | $164M | 3.0M | 2.13% | 0.0% | Held |
| 14 | INVA | INNOVIVA INC | $160M | 14.9M | 2.08% | 0.0% | Held |
| 15 | — | KERYX BIOPHARMACEUTICALS INC | $151M | 25.8M | 1.97% | 0.0% | Held |
| 16 | — | COLONY CAP INC | $141M | 7.0M | 1.84% | +56.5% | Added |
| 17 | MCK | MCKESSON CORP | $140M | 1.0M | 1.83% | — | New |
| 18 | — | FORWARD PHARMA A/S | $81M | 5.4M | 1.05% | 0.0% | Held |
| 19 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $76M | 5.4M | 0.99% | 0.0% | Held |
| 20 | CAH | CARDINAL HEALTH INC | $74M | 1.0M | 0.97% | — | New |
| 21 | BATRK | LIBERTY MEDIA CORP DELAWARE | $62M | 3.0M | 0.80% | 0.0% | Held |
| 22 | — | AMERICAN INTL GROUP INC | $61M | 2.6M | 0.79% | 0.0% | Held |
| 23 | SYTUSD | SYNGENTA AG | $59M | 745.1K | 0.77% | — | New |
| 24 | — | LIBERTY INTERACTIVE CORP | $55M | 1.5M | 0.71% | — | New |
| 25 | CACC | CREDIT ACCEP CORP MICH | $53M | 244.4K | 0.69% | +144.4% | Added |
| 26 | — | CHIPMOS TECHNOLOGIES INC | $50M | 3.5M | 0.65% | — | New |
| 27 | — | GTY TECHNOLOGY HOLDINGS INC | $46M | 4.4M | 0.60% | — | New |
| 28 | CDEVEUR | CENTENNIAL RESOURCE DEV INC | $44M | 2.4M | 0.57% | — | New |
| 29 | NG | NOVAGOLD RES INC | $43M | 9.5M | 0.56% | 0.0% | Held |
| 30 | ABG | AMERISOURCEBERGEN CORP | $39M | 502.5K | 0.51% | — | New |
| 31 | INVA 2.125 01/15/23 | THERAVANCE INC | $38M | 46.2M | 0.50% | −4.1% | Trimmed |
| 32 | — | CONYERS PK ACQUISITION | $38M | 3.7M | 0.50% | 0.0% | Held |
| 33 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $34M | 30.0M | 0.44% | — | New |
| 34 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $31M | 2.0M | 0.41% | 0.0% | Held |
| 35 | — | SABAN CAP ACQUISITION CORP | $23M | 2.3M | 0.30% | — | New |
| 36 | — | CASCADIAN THERAPEUTICS INC | $18M | 4.2M | 0.23% | — | New |
| 37 | BATRA | LIBERTY MEDIA CORP DELAWARE | $16M | 800.0K | 0.21% | 0.0% | Held |
| 38 | LEXEA | LIBERTY EXPEDIA HOLDINGS | $16M | 395.6K | 0.20% | — | New |
| 39 | RUN | SUNRUN INC | $15M | 2.8M | 0.20% | 0.0% | Held |
| 40 | — | CITIGROUP INC | $10M | 62.9M | 0.12% | −38.7% | Trimmed |
| 41 | TMQ | TRILOGY METALS INC NEW | $5M | 10.6M | 0.07% | 0.0% | Held |
| 42 | — | OREXIGEN THERAPEUTICS INC | $4M | 2.2M | 0.05% | 0.0% | Held |
| 43 | — | CONYERS PK ACQUISITION | $2M | 1.2M | 0.03% | 0.0% | Held |
| 44 | — | SABAN CAP ACQUISITION CORP | $1M | 1.2M | 0.01% | — | New |
13 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 |
|---|---|---|---|
| PYPL | PAYPAL HLDGS INC | $205M | 5.0M |
| OLN | OLIN CORP | $127M | 6.2M |
| VMWEUR | VMWARE INC | $118M | 1.6M |
| — | LIBERTY INTERACTIVE CORP | $98M | 2.5M |
| — | CHIPMOS TECH BERMUDA LTD | $74M | 3.8M |
| — | KLX INC | $70M | 2.0M |
| — | SILVER RUN ACQUISITION CORP | $59M | 3.8M |
| ODPEUR | OFFICE DEPOT INC | $46M | 13.0M |
| — | CASCADIAN THERAPEUTICS INC | $41M | 25.0M |
| — | SABAN CAP ACQUISITION CORP | $23M | 2.3M |
| KIN1USD | KINDRED BIOSCIENCES INC | $15M | 3.0M |
| — | TOBIRA THERAPEUTICS INC | $6M | 160.8K |
| — | SILVER RUN ACQUISITION CORP | $5M | 950.0K |
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.