Renowned value investor
just reported his first quarter portfolio. He did not buy any new
stocks, but added to his positions in Idenix Pharma, NovaGold,
Theravance Inc. He reduced his positions in Microsoft Corp, BP
Plc. He sold out his position in GenWorth, PDLI Biopharma,
Targacept Inc. As of 03/31/2012, The Baupost Group owns 20 stocks
with a total value of $3 billion.
We have reported before that
Seth Klarman gave up Targacept; sold out
this position in our
Real Time Picks
. Mr. Klarman apparently has given up hope that the company will
recover from its stock price collapse.
In understanding how
invests, we can look at his own words. He separates value
investors into three categories. The first group buys cigar butt
at cheap prices. The second buys high quality companies at low
prices. The third buys high quality companies at fair prices. He
thinks that Warren Buffett belongs to the third group; he himself
belongs to the first group.
These are the details of the buys and sells.
- Added Positions:
- Reduced Positions:
- Sold Out:
For the details of Seth Klarman's stock buys and sells, go to
This is the sector weightings of his portfolio:
These are the top 5 holdings of Seth Klarman
Oil & Gas
- Viasat Inc (
) - 10,499,992 shares, 17.1% of the total portfolio.
- BP Plc (
) - 9,320,900 shares, 14.2% of the total portfolio. Shares
reduced by 22.33%
- Hewlett Packard (
) - 17,250,000 shares, 13.9% of the total portfolio. Shares
reduced by 8%
- News Corp Inc-A (
) - 15,041,665 shares, 10.0% of the total portfolio.
- Theravance Inc (
) - 14,553,800 shares, 9.6% of the total portfolio. Shares
added by 2.3%
Here is the complete portfolio of Seth Klarman. Also check out
the Undervalued Stocks, Top Growth Companies, and High Yield
stocks of Seth Klarman.About GuruFocus: GuruFocus.com tracks the
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