Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q2 2017 filing in brief
In its Q2 2017 13F, filed August 11, 2017, Baupost Group reported $8.8B across 41 US positions. The largest: LNG (11.5%), SYF (10.0%), VSAT (9.9%), COLONY NORTHSTAR INC (7.7%), ALLERGAN PLC (6.8%). In the quarter it opened 4 positions, sold out of 6, added to 7 and trimmed 5; positions opened and sold out came to 9.1% 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 11, 2017
- 4 New
- 7 Added
- 5 Trimmed
- 6 Exited
41 positions at June 30, 2017. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | LNG | CHENIERE ENERGY INC | $1.0B | 20.7M | 11.53% | −4.6% | Trimmed |
| 2 | SYF | SYNCHRONY FINL | $874M | 29.3M | 9.98% | +65.8% | Added |
| 3 | VSAT | VIASAT INC | $871M | 13.2M | 9.95% | 0.0% | Held |
| 4 | — | COLONY NORTHSTAR INC | $675M | 47.9M | 7.71% | 0.0% | Held |
| 5 | — | ALLERGAN PLC | $591M | 2.4M | 6.76% | 0.0% | Held |
| 6 | QRVO | QORVO INC | $570M | 9.0M | 6.51% | +25.3% | Added |
| 7 | — | TWENTY FIRST CENTY FOX INC | $542M | 19.1M | 6.20% | 0.0% | Held |
| 8 | AR | ANTERO RES CORP | $458M | 21.2M | 5.23% | +45.9% | Added |
| 9 | — | THERAVANCE BIOPHARMA INC | $369M | 9.3M | 4.22% | 0.0% | Held |
| 10 | PBF | PBF ENERGY INC | $350M | 15.7M | 4.00% | 0.0% | Held |
| 11 | — | DELL TECHNOLOGIES INC | $345M | 5.7M | 3.95% | 0.0% | Held |
| 12 | QCOM | QUALCOMM INC | $288M | 5.2M | 3.29% | 0.0% | Held |
| 13 | — | TWENTY FIRST CENTY FOX INC | $203M | 7.3M | 2.32% | 0.0% | Held |
| 14 | — | KERYX BIOPHARMACEUTICALS INC | $186M | 25.8M | 2.13% | 0.0% | Held |
| 15 | — | EXPRESS SCRIPTS HLDG CO | $163M | 2.6M | 1.86% | +108.1% | Added |
| 16 | CAH | CARDINAL HEALTH INC | $158M | 2.0M | 1.81% | +97.1% | Added |
| 17 | VRTVEUR | VERITIV CORP | $137M | 3.0M | 1.57% | 0.0% | Held |
| 18 | — | FORWARD PHARMA A/S | $129M | 6.4M | 1.48% | +14.1% | Added |
| 19 | CAR | AVIS BUDGET GROUP | $109M | 4.0M | 1.25% | — | New |
| 20 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $75M | 5.4M | 0.86% | 0.0% | Held |
| 21 | — | CHIPMOS TECHNOLOGIES INC | $69M | 3.5M | 0.79% | 0.0% | Held |
| 22 | — | SILVER RUN ACQUISITION | $67M | 6.6M | 0.77% | — | New |
| 23 | — | SPIRIT RLTY CAP INC NEW | $67M | 9.0M | 0.76% | — | New |
| 24 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $58M | 2.4M | 0.66% | +17.1% | Added |
| 25 | — | GTY TECHNOLOGY HOLDINGS INC | $46M | 4.4M | 0.53% | 0.0% | Held |
| 26 | — | CONYERS PK ACQUISITION | $44M | 3.7M | 0.50% | 0.0% | Held |
| 27 | NG | NOVAGOLD RES INC | $43M | 9.5M | 0.49% | 0.0% | Held |
| 28 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $40M | 30.0M | 0.46% | 0.0% | Held |
| 29 | CDEVEUR | CENTENNIAL RESOURCE DEV INC | $37M | 2.4M | 0.42% | 0.0% | Held |
| 30 | — | CASCADIAN THERAPEUTICS INC | $32M | 8.7M | 0.37% | 0.0% | Held |
| 31 | BATRK | LIBERTY MEDIA CORP DELAWARE | $31M | 1.3M | 0.36% | −34.6% | Trimmed |
| 32 | CACC | CREDIT ACCEP CORP MICH | $25M | 98.7K | 0.29% | −59.6% | Trimmed |
| 33 | — | SABAN CAP ACQUISITION CORP | $23M | 2.3M | 0.27% | 0.0% | Held |
| 34 | RUN | SUNRUN INC | $20M | 2.8M | 0.23% | 0.0% | Held |
| 35 | INVA 2.125 01/15/23 | THERAVANCE INC | $15M | 17.0M | 0.18% | −24.5% | Trimmed |
| 36 | — | AMERICAN INTL GROUP INC | $7M | 354.8K | 0.09% | −71.8% | Trimmed |
| 37 | TMQ | TRILOGY METALS INC NEW | $7M | 10.6M | 0.08% | 0.0% | Held |
| 38 | — | OREXIGEN THERAPEUTICS INC | $6M | 2.2M | 0.07% | 0.0% | Held |
| 39 | — | SILVER RUN ACQUISITION | $4M | 2.2M | 0.05% | — | New |
| 40 | — | CONYERS PK ACQUISITION | $3M | 1.2M | 0.04% | 0.0% | Held |
| 41 | — | SABAN CAP ACQUISITION CORP | $1M | 1.2M | 0.02% | 0.0% | Held |
6 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 |
|---|---|---|---|
| INVA | INNOVIVA INC | $160M | 11.6M |
| MCK | MCKESSON CORP | $148M | 1.0M |
| — | SILVER RUN ACQUISITION | $69M | 6.6M |
| — | LIBERTY INTERACTIVE CORP | $66M | 1.5M |
| SYTUSD | SYNGENTA AG | $47M | 528.0K |
| ABG | AMERISOURCEBERGEN CORP | $44M | 502.5K |
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.