Seth Klarman Buys BP, AIG, Elan Corp, Sells News Corp., Oracle

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Renowned value investor Seth Klarman just reported his first quarter portfolio. Seth Klarman buys BP, AIG, Elan Corp, Rovi Corp, Idenix Pharmaceuticals, Inc., Directv, sells News Corp, Oracle, Genworth Financial Inc, Allied Nevada Gold Corp, Ituran Location and Control, Ltd. during the 3-months ended 03/31/2013, according to the most recent filings of his investment company, The Baupost Group. As of 03/31/2013, The Baupost Group owns 22 stocks with a total value of $3.1 billion. These are the details of the buys and sells.

  • New Purchases: ELN , DTV ,
  • Added Positions: BP, AIG, ROVI, IDIX,
  • Reduced Positions: NWS, ORCL, ITRN,
  • Sold Out: NWSA, GNW, ANV,
For the details of Seth Klarman's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Seth+Klarman

This is the sector weightings of his portfolio:

Technology 28.7%
Energy 23.3%
Healthcare 20.2%
Financial Services 15.7%
Consumer Cyclical 4%
Basic Materials 2.8%
Consumer Defensive 1%
Communication Services 0.4%



These are the top 5 holdings of Seth Klarman

  1. BP PLC ( BP ) - 17,126,858 shares, 23.3% of the total portfolio. Shares added by 56.73%
  2. Viasat Inc ( VSAT ) - 11,000,000 shares, 17.1% of the total portfolio.
  3. American International Group Inc ( AIG ) - 11,850,200 shares, 14.8% of the total portfolio. Shares added by 69.29%
  4. Theravance, Inc. ( THRX ) - 13,553,800 shares, 10.3% of the total portfolio.
  5. Rovi Corp ( ROVI ) - 8,160,000 shares, 5.6% of the total portfolio. Shares added by 97.34%


New Purchase: Elan Corp PLC ( ELN )

Seth Klarman initiated holdings in Elan Corp PLC. His purchase prices were between $9.4 and $12, with an estimated average price of $10.85. The impact to his portfolio due to this purchase was 3.5%. His holdings were 9,126,227 shares as of 03/31/2013. Elan Corporation, plc, an Irish public limited company, is a neuroscience-based biotechnology company. Elan Corp Plc has a market cap of $6.67 billion; its shares were traded at around $11.45 with and P/S ratio of 853.30.

New Purchase: Directv ( DTV )

Seth Klarman initiated holdings in Directv. His purchase prices were between $47.77 and $57.24, with an estimated average price of $51.9. The impact to his portfolio due to this purchase was 0.38%. His holdings were 207,300 shares as of 03/31/2013. Directv was incorporated in Delaware in 2009. The Company is a provider of digital television entertainment in the United States and Latin America. Directv has a market cap of $35.51 billion; its shares were traded at around $64.41 with a P/E ratio of 13.80 and P/S ratio of 1.30. Directv had an annual average earnings growth of 28.5% over the past 5 years.

Sold Out: News Corporation ( NWSA )

Seth Klarman sold out his holdings in News Corporation. His sale prices were between $25.51 and $30.69, with an estimated average price of $28.45. News Corporation is a Delaware corporation. The Company is a global media company with operations in the following six industry segments: Cable Network Programming; Filmed Entertainment; Television; Direct Broadcast Satellite Television; Publishing; and Other. News Corporation has a market cap of $77.9 billion; its shares were traded at around $33.48 with a P/E ratio of 13.50 and P/S ratio of 2.20. The dividend yield of News Corporation stocks is 0.50%.

Sold Out: Genworth Financial Inc ( GNW )

Seth Klarman sold out his holdings in Genworth Financial Inc. His sale prices were between $7.51 and $10.51, with an estimated average price of $9.16. Genworth Financial, Inc. was incorporated in Delaware in 2003 in preparation for its corporate reorganization and an initial public offering of its common stock, which was completed on May 28, 2004. Genworth Financial Inc has a market cap of $5.43 billion; its shares were traded at around $11.00 with a P/E ratio of 14.30 and P/S ratio of 0.50.

Sold Out: Allied Nevada Gold Corp (ANV)

Seth Klarman sold out his holdings in Allied Nevada Gold Corp. His sale prices were between $16.46 and $30.71, with an estimated average price of $22.23. Allied Nevada Gold Corp. was incorporated under the laws of Delaware on September 14, 2006. Allied Nevada Gold Corp has a market cap of $798.1 million; its shares were traded at around $8.86 with a P/E ratio of 18.10 and P/S ratio of 3.70.

Added: BP PLC ( BP )

Seth Klarman added to his holdings in BP PLC by 56.73%. His purchase prices were between $40.19 and $45.21, with an estimated average price of $42.48. The impact to his portfolio due to this purchase was 8.43%. His holdings were 17,126,858 shares as of 03/31/2013. BP PLC provides fuel for transportation, energy for heat and light, lubricants to keep engines moving, and the petrochemicals products used to make everyday items like plastic bottles. Bp Plc has a market cap of $137.95 billion; its shares were traded at around $43.11 with a P/E ratio of 6.10 and P/S ratio of 0.40. The dividend yield of Bp Plc stocks is 4.90%.

Added: American International Group Inc ( AIG )

Seth Klarman added to his holdings in American International Group Inc by 69.29%. His purchase prices were between $34.84 and $39.58, with an estimated average price of $37.61. The impact to his portfolio due to this purchase was 6.06%. His holdings were 11,850,200 shares as of 03/31/2013. American International Group, Inc., a Delaware corporation, is a holding company which, through its subsidiaries, is engaged in a range of insurance and insurance-related activities in the United States and abroad. American International Group Inc has a market cap of $67.86 billion; its shares were traded at around $46.08 with a P/E ratio of 11.30 and P/S ratio of 1.10.

Added: Rovi Corp ( ROVI )

Seth Klarman added to his holdings in Rovi Corp by 97.34%. His purchase prices were between $15.43 and $21.43, with an estimated average price of $18.19. The impact to his portfolio due to this purchase was 2.76%. His holdings were 8,160,000 shares as of 03/31/2013. Rovi Corporation, formerly Macrovision Corporation, a Delaware corporation was founded in 1983. Rovi Corp has a market cap of $2.42 billion; its shares were traded at around $24.10 with a P/E ratio of 1018.20 and P/S ratio of 3.90. Rovi Corp had an annual average earnings growth of 7% over the past 10 years. GuruFocus rated Rovi Corp the business predictability rank of 3-star.

Added: Idenix Pharmaceuticals, Inc. ( IDIX )

Seth Klarman added to his holdings in Idenix Pharmaceuticals, Inc. by 25.78%. His purchase prices were between $3.54 and $5.36, with an estimated average price of $4.6. The impact to his portfolio due to this purchase was 0.61%. His holdings were 26,042,000 shares as of 03/31/2013. Idenix Pharmaceuticals, Inc. is a biopharmaceutical company engaged in the discovery and development of drugs for the treatment of human viral diseases with operations in the United States and Europe. Idenix Pharmaceuticals, Inc. has a market cap of $472.8 million; its shares were traded at around $3.65 with and P/S ratio of 13.00.

Reduced: News Corporation ( NWS )

Seth Klarman reduced to his holdings in News Corporation by 68.92%. His sale prices were between $26.24 and $31.08, with an estimated average price of $28.91. The impact to his portfolio due to this sale was -7.58%. Seth Klarman still held 4,047,412 shares as of 03/31/2013. News Corporation is a Delaware corporation. The Company is a global media company with operations in the following six industry segments: Cable Network Programming; Filmed Entertainment; Television; Direct Broadcast Satellite Television; Publishing; and Other. News Corporation has a market cap of $78.34 billion; its shares were traded at around $33.65 with a P/E ratio of 13.60 and P/S ratio of 2.20. The dividend yield of News Corporation stocks is 0.50%.

Reduced: Oracle Corporation ( ORCL )

Seth Klarman reduced to his holdings in Oracle Corporation by 67.57%. His sale prices were between $31.25 and $36.34, with an estimated average price of $34.76. The impact to his portfolio due to this sale was -7.57%. Seth Klarman still held 3,386,890 shares as of 03/31/2013. Oracle Corporation was incorporated in 2005 as a Delaware corporation and is the successor to operations originally begun in June 1977. Oracle Corporation has a market cap of $157.12 billion; its shares were traded at around $33.67 with a P/E ratio of 15.80 and P/S ratio of 4.50. The dividend yield of Oracle Corporation stocks is 0.50%. Oracle Corporation had an annual average earnings growth of 20% over the past 10 years. GuruFocus rated Oracle Corporation the business predictability rank of 5-star.

Reduced: Ituran Location and Control, Ltd. ( ITRN )

Seth Klarman reduced to his holdings in Ituran Location and Control, Ltd. by 20.68%. His sale prices were between $13.57 and $16.41, with an estimated average price of $14.87. The impact to his portfolio due to this sale was -0.15%. Seth Klarman still held 1,337,003 shares as of 03/31/2013. Ituran Location and Control, Ltd. were initially incorporated in February 1994 in Israel. Ituran Location And Control, Ltd. has a market cap of $385.7 million; its shares were traded at around $16.47 with a P/E ratio of 13.70 and P/S ratio of 2.30. The dividend yield of Ituran Location And Control, Ltd. stocks is 5.00%. Ituran Location And Control, Ltd. had an annual average earnings growth of 23.8% over the past 10 years.

Here is the complete portfolio of Seth Klarman. Also check out:

1. Seth Klarman's Undervalued Stocks
2. Seth Klarman's Top Growth Companies, and
3. Seth Klarman's High Yield stocks
4. Stocks that Seth Klarman keeps buyingAbout 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: AIG , BP , ROVI , THRX , VSAT

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