Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q1 2018 filing in brief
In its Q1 2018 13F, filed May 14, 2018, Baupost Group reported $10.4B across 33 US positions. The largest: LNG (10.7%), SYF (9.5%), TWENTY FIRST CENTY FOX INC (9.4%), VSAT (8.7%), ALLERGAN PLC (7.7%). In the quarter it opened 2 positions, sold out of 3, added to 11 and trimmed 4; positions opened and sold out came to 4% 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 May 14, 2018
- 2 New
- 11 Added
- 4 Trimmed
- 3 Exited
33 positions at March 31, 2018. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | LNG | CHENIERE ENERGY INC | $1.1B | 20.7M | 10.68% | 0.0% | Held |
| 2 | SYF | SYNCHRONY FINL | $982M | 29.3M | 9.47% | 0.0% | Held |
| 3 | — | TWENTY FIRST CENTY FOX INC | $976M | 26.6M | 9.41% | +19.3% | Added |
| 4 | VSAT | VIASAT INC | $898M | 13.7M | 8.66% | +3.8% | Added |
| 5 | — | ALLERGAN PLC | $799M | 4.8M | 7.71% | +5.6% | Added |
| 6 | QRVO | QORVO INC | $775M | 11.0M | 7.47% | 0.0% | Held |
| 7 | TWXCHF | TIME WARNER INC | $766M | 8.1M | 7.39% | 0.0% | Held |
| 8 | PXDEUR | PIONEER NAT RES CO | $687M | 4.0M | 6.63% | +100.0% | Added |
| 9 | AR | ANTERO RES CORP | $528M | 26.6M | 5.09% | +7.5% | Added |
| 10 | — | TWENTY FIRST CENTY FOX INC | $416M | 11.4M | 4.01% | +8.6% | Added |
| 11 | CAH | CARDINAL HEALTH INC | $320M | 5.1M | 3.08% | 0.0% | Held |
| 12 | — | COLONY NORTHSTAR INC | $279M | 49.7M | 2.69% | +3.7% | Added |
| 13 | PBF | PBF ENERGY INC | $269M | 7.9M | 2.59% | −27.5% | Trimmed |
| 14 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $244M | 6.3M | 2.35% | +16.7% | Added |
| 15 | MCK | MCKESSON CORP | $228M | 1.6M | 2.19% | +18.8% | Added |
| 16 | — | THERAVANCE BIOPHARMA INC | $226M | 9.3M | 2.18% | 0.0% | Held |
| 17 | VRTVEUR | VERITIV CORP | $150M | 3.8M | 1.45% | +5.0% | Added |
| 18 | PCG | PG&E CORP | $138M | 3.1M | 1.33% | — | New |
| 19 | ABG | AMERISOURCEBERGEN CORP | $114M | 1.3M | 1.10% | −8.2% | Trimmed |
| 20 | — | KERYX BIOPHARMACEUTICALS INC | $105M | 25.8M | 1.02% | 0.0% | Held |
| 21 | — | AMC ENTMT HLDGS INC | $70M | 5.0M | 0.68% | 0.0% | Held |
| 22 | NG | NOVAGOLD RES INC | $58M | 13.5M | 0.56% | +25.4% | Added |
| 23 | TSLA 2.375 03/15/22 | TESLA INC | $52M | 50.0M | 0.50% | — | New |
| 24 | — | GTY TECHNOLOGY HOLDINGS INC | $46M | 4.4M | 0.44% | 0.0% | Held |
| 25 | PRTKEUR | PARATEK PHARMACEUTICALS INC | $31M | 2.4M | 0.30% | 0.0% | Held |
| 26 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $30M | 30.0M | 0.29% | 0.0% | Held |
| 27 | — | SABAN CAP ACQUISITION CORP | $23M | 2.3M | 0.22% | 0.0% | Held |
| 28 | — | SENTINEL ENERGY SVCS INC | $16M | 1.6M | 0.15% | 0.0% | Held |
| 29 | — | CHIPMOS TECHNOLOGIES INC | $15M | 933.7K | 0.14% | −36.5% | Trimmed |
| 30 | TMQ | TRILOGY METALS INC NEW | $13M | 10.6M | 0.13% | 0.0% | Held |
| 31 | — | FORWARD PHARMA A/S | $6M | 2.8M | 0.06% | −31.9% | Trimmed |
| 32 | — | SABAN CAP ACQUISITION CORP | $2M | 1.2M | 0.01% | 0.0% | Held |
| 33 | — | OREXIGEN THERAPEUTICS INC | $465K | 2.2M | 0.00% | 0.0% | Held |
3 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 |
|---|---|---|---|
| — | EXPRESS SCRIPTS HLDG CO | $172M | 2.3M |
| — | CASCADIAN THERAPEUTICS INC | $32M | 8.7M |
| RUN | SUNRUN INC | $17M | 2.8M |
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.