Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2017 filing in brief
In its Q4 2017 13F, filed February 13, 2018, Baupost Group reported $10.1B across 34 US positions. The largest: SYF (11.2%), LNG (11.0%), VSAT (9.7%), TWENTY FIRST CENTY FOX INC (7.6%), TWXCHF (7.3%). In the quarter it opened 2 positions, sold out of 5, added to 12 and trimmed 4; positions opened and sold out came to 12.1% 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 Feb 13, 2018
- 2 New
- 12 Added
- 4 Trimmed
- 5 Exited
34 positions at December 31, 2017. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | SYF | SYNCHRONY FINL | $1.1B | 29.3M | 11.18% | 0.0% | Held |
| 2 | LNG | CHENIERE ENERGY INC | $1.1B | 20.7M | 11.03% | 0.0% | Held |
| 3 | VSAT | VIASAT INC | $985M | 13.2M | 9.74% | 0.0% | Held |
| 4 | — | TWENTY FIRST CENTY FOX INC | $770M | 22.3M | 7.61% | +16.5% | Added |
| 5 | TWXCHF | TIME WARNER INC | $741M | 8.1M | 7.33% | — | New |
| 6 | — | ALLERGAN PLC | $736M | 4.5M | 7.28% | +51.8% | Added |
| 7 | QRVO | QORVO INC | $733M | 11.0M | 7.24% | +22.2% | Added |
| 8 | — | COLONY NORTHSTAR INC | $547M | 47.9M | 5.40% | 0.0% | Held |
| 9 | AR | ANTERO RES CORP | $470M | 24.7M | 4.64% | +3.4% | Added |
| 10 | PBF | PBF ENERGY INC | $387M | 10.9M | 3.83% | −30.5% | Trimmed |
| 11 | — | TWENTY FIRST CENTY FOX INC | $359M | 10.5M | 3.55% | +42.6% | Added |
| 12 | PXDEUR | PIONEER NAT RES CO | $346M | 2.0M | 3.42% | +6821.6% | Added |
| 13 | CAH | CARDINAL HEALTH INC | $312M | 5.1M | 3.09% | +101.6% | Added |
| 14 | — | THERAVANCE BIOPHARMA INC | $260M | 9.3M | 2.57% | 0.0% | Held |
| 15 | MCK | MCKESSON CORP | $212M | 1.4M | 2.10% | +172.0% | Added |
| 16 | — | EXPRESS SCRIPTS HLDG CO | $172M | 2.3M | 1.70% | −9.8% | Trimmed |
| 17 | ABG | AMERISOURCEBERGEN CORP | $132M | 1.4M | 1.30% | +659.6% | Added |
| 18 | — | KERYX BIOPHARMACEUTICALS INC | $120M | 25.8M | 1.19% | 0.0% | Held |
| 19 | VRTVEUR | VERITIV CORP | $105M | 3.6M | 1.04% | +19.2% | Added |
| 20 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $97M | 5.4M | 0.96% | 0.0% | Held |
| 21 | — | AMC ENTMT HLDGS INC | $76M | 5.0M | 0.75% | +40.2% | Added |
| 22 | — | GTY TECHNOLOGY HOLDINGS INC | $45M | 4.4M | 0.45% | 0.0% | Held |
| 23 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $43M | 2.4M | 0.42% | 0.0% | Held |
| 24 | NG | NOVAGOLD RES INC | $42M | 10.7M | 0.42% | +13.1% | Added |
| 25 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $33M | 30.0M | 0.33% | 0.0% | Held |
| 26 | — | CASCADIAN THERAPEUTICS INC | $32M | 8.7M | 0.32% | 0.0% | Held |
| 27 | — | CHIPMOS TECHNOLOGIES INC | $26M | 1.5M | 0.26% | −51.8% | Trimmed |
| 28 | — | SABAN CAP ACQUISITION CORP | $23M | 2.3M | 0.23% | 0.0% | Held |
| 29 | RUN | SUNRUN INC | $17M | 2.8M | 0.17% | 0.0% | Held |
| 30 | — | SENTINEL ENERGY SVCS INC | $16M | 1.6M | 0.16% | — | New |
| 31 | — | FORWARD PHARMA A/S | $15M | 4.2M | 0.15% | −35.3% | Trimmed |
| 32 | TMQ | TRILOGY METALS INC NEW | $11M | 10.6M | 0.11% | 0.0% | Held |
| 33 | — | OREXIGEN THERAPEUTICS INC | $3M | 2.2M | 0.03% | 0.0% | Held |
| 34 | — | SABAN CAP ACQUISITION CORP | $1M | 1.2M | 0.01% | 0.0% | Held |
5 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 |
|---|---|---|---|
| — | DELL TECHNOLOGIES INC | $236M | 3.1M |
| CDEVEUR | CENTENNIAL RESOURCE DEV INC | $42M | 2.4M |
| CAR | AVIS BUDGET GROUP | $39M | 1.0M |
| — | SILVER RUN ACQUISITION | $22M | 2.1M |
| — | SIMPLY GOOD FOODS CO | $2M | 1.0M |
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.