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Seth Klarman Buys Micron Technology, Theravance, PBF Energy, Sells BP, AIG, Yamana Gold

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Renowned value investor Seth Klarman just reported his third quarter portfolio. He runs a very concentrated portfolio, with top two positions account for more than 50% of the stocks he owns. Seth Klarman buys Micron Technology, Inc., Theravance, Inc., PBF Energy Inc, Idenix Pharmaceuticals, Inc., Chipmos Technologies Bermuda Ltd., Idenix Pharmaceuticals, Inc., sells BP PLC, American International Group Inc, Yamana Gold Inc, Central Pacific Financial Corporation, Kinross Gold Corporation, Ituran Location and Control, Ltd., Alliance One International Inc, Pretium Resources, Inc. during the 3-months ended 09/30/2013, according to the most recent filings of his investment company, The Baupost Group.

As of 09/30/2013, The Baupost Group owns 20 stocks with a total value of $3.5 billion. These are the details of the buys and sells.

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 59.7%
Healthcare 27.6%
Energy 6.7%
Basic Materials 1.7%
Consumer Defensive 0.5%
Financial Services 0.4%


These are the top 5 holdings of Seth Klarman

1. Micron Technology, Inc. (MU) - 64,000,000 shares, 32.0% of the total portfolio. Shares added by 54.22%

2. Theravance, Inc. (THRX) - 18,510,371 shares, 21.6% of the total portfolio. Shares added by 11.92%

3. Viasat Inc (VSAT) - 11,000,000 shares, 20.0% of the total portfolio.

4. BP PLC (BP) - 5,597,482 shares, 6.7% of the total portfolio. Shares reduced by 69.9%

5. Idenix Pharmaceuticals, Inc. (IDIX) - 29,665,693 shares, 4.4% of the total portfolio. Shares added by 10.83%

New Purchase: PBF Energy Inc (PBF)

Seth Klarman initiated holdings in PBF Energy Inc. His purchase prices were between $20.98 and $24.57, with an estimated average price of $22.6. The impact to his portfolio due to this purchase was 0.61%. His holdings were 955,140 shares as of 09/30/2013. Pbf Energy Inc has a market cap of $1.1 billion; its shares were traded at around $27.75 with a P/E ratio of 47.00 and P/S ratio of 0.10. The dividend yield of Pbf Energy Inc stocks is 3.30%.

Sold Out: American International Group Inc (AIG)

Seth Klarman sold out his holdings in American International Group Inc. His sale prices were between $44.22 and $50.57, with an estimated average price of $47.55. American International Group Inc has a market cap of $71.53 billion; its shares were traded at around $48.58 with a P/E ratio of 27.30 and P/S ratio of 1.10. The dividend yield of American International Group Inc stocks is 0.20%.

Sold Out: Yamana Gold Inc (AUY)

Seth Klarman sold out his holdings in Yamana Gold Inc. His sale prices were between $8.93 and $12.06, with an estimated average price of $10.56. Yamana Gold Inc has a market cap of $6.99 billion; its shares were traded at around $9.30 with a P/E ratio of 22.70 and P/S ratio of 3.40. The dividend yield of Yamana Gold Inc stocks is 2.80%. Yamana Gold Inc had an annual average earnings growth of 33.20% over the past 5 years.

Sold Out: Kinross Gold Corporation (KGC)

Seth Klarman sold out his holdings in Kinross Gold Corporation. His sale prices were between $4.59 and $6.06, with an estimated average price of $5.3. Kinross Gold Corporation has a market cap of $5.66 billion; its shares were traded at around $4.96 with and P/S ratio of 1.30. The dividend yield of Kinross Gold Corporation stocks is 3.30%.

Sold Out: Pretium Resources, Inc. (PVG)

Seth Klarman sold out his holdings in Pretium Resources, Inc.. His sale prices were between $6.39 and $9.76, with an estimated average price of $7.93. Pretium Resources, Inc. has a market cap of $320.400 million; its shares were traded at around $3.05 .

Added: Micron Technology, Inc. (MU)

Seth Klarman added to his holdings in Micron Technology, Inc. by 54.22%. His purchase prices were between $12.47 and $17.62, with an estimated average price of $14.46. The impact to his portfolio due to this purchase was 11.25%. His holdings were 64,000,000 shares as of 09/30/2013. Micron Technology, Inc. has a market cap of $19.9 billion; its shares were traded at around $18.92 with a P/E ratio of 20.00 and P/S ratio of 2.20. Micron Technology, Inc. had an annual average earnings growth of 15.40% over the past 5 years. GuruFocus rated Micron Technology, Inc. the business predictability rank of 2.5-star.

Added: Theravance, Inc. (THRX)

Seth Klarman added to his holdings in Theravance, Inc. by 11.92%. His purchase prices were between $35.82 and $42.64, with an estimated average price of $38.54. The impact to his portfolio due to this purchase was 2.3%. His holdings were 18,510,371 shares as of 09/30/2013. Theravance, Inc. has a market cap of $3.89 billion; its shares were traded at around $35.19 with and P/S ratio of 393.50.

Added: Idenix Pharmaceuticals, Inc. (IDIX)

Seth Klarman added to his holdings in Idenix Pharmaceuticals, Inc. by 10.83%. His purchase prices were between $3.22 and $5.75, with an estimated average price of $4.38. The impact to his portfolio due to this purchase was 0.43%. His holdings were 29,665,693 shares as of 09/30/2013. Idenix Pharmaceuticals, Inc. has a market cap of $617.900 million; its shares were traded at around $4.58 with and P/S ratio of 476.30.

Added: Chipmos Technologies Bermuda Ltd. (IMOS)

Seth Klarman added to his holdings in Chipmos Technologies Bermuda Ltd. by 18.81%. His purchase prices were between $15.03 and $20.2, with an estimated average price of $17.09. The impact to his portfolio due to this purchase was 0.27%. His holdings were 3,283,235 shares as of 09/30/2013. Chipmos Technologies Bermuda Ltd. has a market cap of $571.100 million; its shares were traded at around $16.95 with a P/E ratio of 15.50 and P/S ratio of 1.00. The dividend yield of Chipmos Technologies Bermuda Ltd. stocks is 0.90%. Chipmos Technologies Bermuda Ltd. had an annual average earnings growth of 19.30% over the past 5 years.

Added: Idenix Pharmaceuticals, Inc. (IDIX)

Seth Klarman added to his holdings in Idenix Pharmaceuticals, Inc. by 37.9%. The impact to his portfolio due to this purchase was 1.19%. His holdings were 36,910,868 shares as of 09/30/2013. Idenix Pharmaceuticals, Inc. has a market cap of $617.900 million; its shares were traded at around $4.58 with and P/S ratio of 476.30.

Reduced: BP PLC (BP)

Seth Klarman reduced to his holdings in BP PLC by 69.9%. His sale prices were between $40.53 and $43.69, with an estimated average price of $41.95. The impact to his portfolio due to this sale was -13.49%. Seth Klarman still held 5,597,482 shares as of 09/30/2013. Bp Plc has a market cap of $145.87 billion; its shares were traded at around $46.45 with a P/E ratio of 6.20 and P/S ratio of 0.40. The dividend yield of Bp Plc stocks is 4.80%.

Reduced: Central Pacific Financial Corporation (CPF)

Seth Klarman reduced to his holdings in Central Pacific Financial Corporation by 47.73%. His sale prices were between $16.86 and $18.98, with an estimated average price of $17.97. The impact to his portfolio due to this sale was -0.32%. Seth Klarman still held 779,715 shares as of 09/30/2013. Central Pacific Financial Corporation has a market cap of $778.700 million; its shares were traded at around $18.48 with a P/E ratio of 4.50 and P/S ratio of 4.30. The dividend yield of Central Pacific Financial Corporation stocks is 0.40%.

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

Seth Klarman reduced to his holdings in Ituran Location and Control, Ltd. by 54.12%. His sale prices were between $16.39 and $18.6, with an estimated average price of $17.9. The impact to his portfolio due to this sale was -0.24%. Seth Klarman still held 476,341 shares as of 09/30/2013. Ituran Location And Control, Ltd. has a market cap of $436.600 million; its shares were traded at around $18.60 with a P/E ratio of 17.30 and P/S ratio of 2.50. The dividend yield of Ituran Location And Control, Ltd. stocks is 3.70%. Ituran Location And Control, Ltd. had an annual average earnings growth of 23.80% over the past 10 years.

Reduced: Alliance One International Inc (AOI)

Seth Klarman reduced to his holdings in Alliance One International Inc by 16.77%. His sale prices were between $2.83 and $4.2, with an estimated average price of $3.37. The impact to his portfolio due to this sale was -0.12%. Seth Klarman still held 6,383,641 shares as of 09/30/2013. Alliance One International Inc has a market cap of $275.000 million; its shares were traded at around $3.11 with a P/E ratio of 70.60 and P/S ratio of 0.10.


Rating: 2.2/5 (9 votes)

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