Renowned value investor
Seth Klarman
just reported his third quarter portfolio. He bought into one new
position, Rovi Corp (
ROVI
), and added to his positions in Novagold Resources, Inc., Idenix
Pharmaceuticals, Inc., Viasat Inc, Novacopper Inc, Idenix
Pharmaceuticals, Inc. He sells Hewlett-packard Co, Microsoft
Corporation, Hess Corp.
Seth Klarman
's has generated great track record, according to many value
investors. That made his fund one of the largest hedge funds in
the world. He was said to invest in a lot of non-conventional
investments like forest, land, real estate etc. In stock
investing, he tend to buy beaten down companies that are under
distress.
Buying cheap companies didn't always work out for
Seth Klarman
. He
bought into Targacept
(
TRGT
) about a year ago, and the stock decline further. He eventually
gave up on that bet.
As of 09/30/2012, The Baupost Group owns 21 stocks with a total
value of $3.3 billion. These are the details of the buys and
sells.
This is the portfolio chart of Seth Klarman. You can click on the
legend of the chart to show/hide buys, sells, or holdings. Each
ball on the chart represents a position in the portfolio. You can
move your mouse on the balls to see the details of each position
and click to see the details of all guru trades with this
position.
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
|
36.2% |
|
Health Care
|
17.2% |
|
Consumer Services
|
17.2% |
|
Oil & Gas
|
14.7% |
|
Basic Materials
|
10% |
|
Financials
|
3.2% |
|
Consumer Goods
|
1.5% |
These are the top 5 holdings of Seth Klarman
- BP PLC (
BP
) - 11,261,291 shares, 14.7% of the total portfolio. Shares
reduced by 16.31%
- Oracle Corporation (
ORCL
) - 13,500,000 shares, 13.0% of the total portfolio. Shares
reduced by 14.56%
- Viasat Inc (
VSAT
) - 10,750,000 shares, 12.3% of the total portfolio. Shares
added by 1.05%
- Theravance, Inc. (
THRX
) - 13,553,800 shares, 10.8% of the total portfolio. Shares
reduced by 6.87%
- News Corporation (
NWSA
) - 13,041,665 shares, 9.8% of the total portfolio. Shares
reduced by 13.3%
New Purchase: Rovi Corp (
ROVI
)
Seth Klarman initiated holdings in Rovi Corp. His purchase prices
were between $10.01 and $19.14, with an estimated average price
of $15.24. The impact to his portfolio due to this purchase was
1.8%. His holdings were 4,134,974 shares as of 09/30/2012. Rovi
Corp, formerly Macrovision Solutions Corporation, provides a set
of solutions that enable businesses to protect, enable and
distribute their digital goods to consumers and allows consumers
the ability to discover and manage digital media across multiple
channels. Rovi Corp has a market cap of $1.68 billion; its shares
were traded at around $14.91 with a P/E ratio of 11.9 and P/S
ratio of 2.4. Rovi Corp had an annual average earnings growth of
6.1% over the past 10 years. GuruFocus rated Rovi Corp the
business predictability rank of 2.5-star.
Sold Out: Hess Corp (
HES
)
Seth Klarman sold out his holdings in Hess Corp. His sale prices
were between $42.31 and $56.07, with an estimated average price
of $48.79. Hess Corporation, is a global integrated energy
company engaged in the exploration for and the production,
purchase, transportation and sale of crude oil and natural gas,
as well as the production and sale of refined petroleum products,
electricity. Hess Corp has a market cap of $17.32 billion; its
shares were traded at around $50.59 with a P/E ratio of 12 and
P/S ratio of 0.5. The dividend yield of Hess Corp stocks is 0.8%.
Hess Corp had an annual average earnings growth of 7.2% over the
past 10 years.
Added: Novagold Resources, Inc. (
NG
)
Seth Klarman added to his holdings in Novagold Resources, Inc. by
31.25%. His purchase prices were between $3.69 and $6.19, with an
estimated average price of $5.03. The impact to his portfolio due
to this purchase was 0.86%. His holdings were 21,000,000 shares
as of 09/30/2012. NovaGold Resources is a gold and copper company
engaged in the exploration and development of mineral properties
in Alaska and Western Canada. Novagold Resources, Inc. has a
market cap of $1.31 billion; its shares were traded at around
$4.49 with and P/S ratio of 3251.8. Novagold Resources, Inc. had
an annual average earnings growth of 9.5% over the past 5 years.
Added: Idenix Pharmaceuticals, Inc. (
IDIX
)
Seth Klarman added to his holdings in Idenix Pharmaceuticals,
Inc. by 20%. His purchase prices were between $4.39 and $11.06,
with an estimated average price of $7.89. The impact to his
portfolio due to this purchase was 0.28%. His holdings were
12,000,000 shares as of 09/30/2012. Idenix Pharmaceuticals, Inc.
is a biopharmaceutical company engaged in the discovery and
development of drugs for the treatment of human viral and other
infectious diseases. Idenix Pharmaceuticals, Inc. has a market
cap of $544.5 million; its shares were traded at around $5 with
and P/S ratio of 78.3.
Added: Viasat Inc (
VSAT
)
Seth Klarman added to his holdings in Viasat Inc by 1.05%. His
purchase prices were between $33.37 and $40.89, with an estimated
average price of $38.26. The impact to his portfolio due to this
purchase was 0.13%. His holdings were 10,750,000 shares as of
09/30/2012. ViaSat Inc. designs, produces and markets advanced
digital satellite telecommunications and other networking and
signal processing equipment. Viasat Inc has a market cap of $1.58
billion; its shares were traded at around $35.78 with and P/S
ratio of 1.8.
Added: Novacopper Inc (
NCQ
)
Seth Klarman added to his holdings in Novacopper Inc by 46.02%.
His purchase prices were between $1.69 and $2.64, with an
estimated average price of $2.06. The impact to his portfolio due
to this purchase was 0.09%. His holdings were 4,600,000 shares as
of 09/30/2012. NovaCopper Inc. is a base metals exploration
company focused on exploring and developing the Ambler
copper-zinc-lead-gold-silver deposits project in Northwest
Alaska. Novacopper Inc has a market cap of $110.1 million; its
shares were traded at around $2.24 .
Added: Idenix Pharmaceuticals, Inc. (
IDIX
)
Seth Klarman added to his holdings in Idenix Pharmaceuticals,
Inc. by 65.27%. The impact to his portfolio due to this purchase
was 0.72%. His holdings were 16,527,400 shares as of 09/30/2012.
Idenix Pharmaceuticals, Inc. is a biopharmaceutical company
engaged in the discovery and development of drugs for the
treatment of human viral and other infectious diseases. Idenix
Pharmaceuticals, Inc. has a market cap of $544.5 million; its
shares were traded at around $5 with and P/S ratio of 78.3.
Reduced: Hewlett-packard Co (
HPQ
)
Seth Klarman reduced to his holdings in Hewlett-packard Co by
46.46%. His sale prices were between $16.71 and $20.36, with an
estimated average price of $18.47. The impact to his portfolio
due to this sale was -6.55%. Seth Klarman still held 14,376,304
shares as of 09/30/2012. Hewlett Packard is one of the global
providers of computing and imaging solutions and services for
business and home. Hewlett-packard Co has a market cap of $26.77
billion; its shares were traded at around $13.2 with a P/E ratio
of 3.3 and P/S ratio of 0.2. The dividend yield of
Hewlett-packard Co stocks is 3.9%. Hewlett-packard Co had an
annual average earnings growth of 25.4% over the past 5 years.
Reduced: Microsoft Corporation (
MSFT
)
Seth Klarman reduced to his holdings in Microsoft Corporation by
80%. His sale prices were between $28.63 and $31.45, with an
estimated average price of $30.23. The impact to his portfolio
due to this sale was -4.48%. Seth Klarman still held 1,400,000
shares as of 09/30/2012. Microsoft Corporation develops,
manufactures, licenses, sells, and supports software products.
Microsoft Corporation has a market cap of $241.74 billion; its
shares were traded at around $27.2 with a P/E ratio of 10.9 and
P/S ratio of 3.3. The dividend yield of Microsoft Corporation
stocks is 2.8%. Microsoft Corporation had an annual average
earnings growth of 13.6% over the past 10 years. GuruFocus rated
Microsoft Corporation the business predictability rank of 5-star.
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 stocksAbout GuruFocus: GuruFocus.com
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