'Margin of Safety' Seth Klarman's First Quarter Selling

By
A A A

Fascinating online discovery... You can either buy Seth Klarman 's lucid book, "Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor" for around $2,000 plus shipping, or you can download it for free as a pdf file. An amazing writer, billionaire Seth Klarman is founder and president of one of the world's largest hedge funds, The Baupost Group, a value investing manager. As of March 31, 2013, Klarman sold out three major holdings in gold, insurance and news companies:

Sold Out: Allied Nevada Gold Corp. ( ANV ) - Gold

As of March 31, 2013, Seth Klarman sold out his position with ANV, unloading around 2.8 million shares at an average price of $22.1 for a loss of 66.3%. This stock never delivered a gain in seven quarters held by Klarman, only double-digit losses. His worst quarter showed a loss of 81.3% in the third quarter of 2011.

This trade impacts his portfolio by -2.8%.

The current share price is $7.45 compared to past valuations:



Sold Out: Genworth Financial Inc. ( GNW ) - Insurance - Diversified

As of March 31, 2013, Seth Klarman sold out his position with GNW, selling 15 million shares at an average price of $9.18 for a gain of 12.7%.

This stock has delivered four quarters of gains for Klarman, starting in the third quarter of 2011 with a gain of 43.2%, his highest gaining quarter.

This trade impacts his portfolio by -3.6%.

The current share price is $10.35 compared to past valuations:



Sold Out: News Corporation ( NWSA ) - Media - Diversified

As of March 31, 2013, Seth Klarman sold out his position with NWSA, unloading around 8 million shares at an average price of $28.50 for a gain of 15.2%.

This stock has delivered 12 quarters of gains for Klarman, starting in the third quarter of 2008 with a gain of 136.9%. His highest gaining quarters were the fourth quarter of 2008 for a 282.8% gain and the first quarter of 2009 with a gain of 383.7%.

This trade impacts his portfolio by -6.6%.

The current share price is $32.84 compared to past valuations:



In a recent portfolio update, Guru Seth Klarman of The Baupost Group lists 22 stocks, four of them new, with a total value of $3.1 billion and a quarter-over-quarter turnover of 24%.



If you are not yet a Premium Member, we invite you for a 7-day Free Trial .

Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

GuruFocus " Real Time Picks " reports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.

GuruFocus' Score Board of Gurus shows which investors produced the largest average returns in the past 6 and 12 months, as well as on a historical basis. About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing

Referenced Stocks: ANV , GNW , NWSA

GuruFocus

GuruFocus

More from GuruFocus:

Related Videos

Stocks

Referenced

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com