Seth Klarman

Seth Klarman

Last Update: 09-09-2016

Number of Stocks: 40
Number of New Stocks: 9

Total Value: $7,328 Mil
Q/Q Turnover: 10%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Seth Klarman' s Profile & Performance

Profile

Seth Klarman is a value investor and Portfolio Manager of the investment partnership The Baupost Group. Founded in 1983, The Baupost Group now manages $7 billion, and has averaged returns of nearly 20% annually since their inception. Seth Klarman is the author of the book "Margin of Safety" which sells for over $1000. Mr. Klarman attended Cornell University where he received a degree in economics, and later attended Harvard University where he earned an M.B.A.

Web Page:http://www.baupost.com/

Investing Philosophy

Seth Klarman invests in a wide array of investments ranging from fairly traditional value stocks to more esoteric investments like distressed debt, liquidations, and foreign equities or bonds. Klarman doesn't mind "doing nothing" on occasion. He is completely unperturbed by the idea of sitting on the sidelines holding cash whenever investment opportunities are scarce. In fact, in 2005 and 2006, nearly half of his portfolio was held in cash. Investing, he cautions, is more than just producing absolute returns. Too often investors focus on that one easy number "return" and ignore the risks incurred to generate that number.

Total Holding History

Performance of Baupost Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
200127.1-11.8939.0
20009.9-9.119.0
1999-18.321.04-39.3
3-Year Cumulative14.1 (4.5%/year)-3.1 (-1%/year)17.2 (5.5%/year)
19983028.581.4
199724.833.36-8.6
5-Year Cumulative85.1 (13.1%/year)66.2 (10.7%/year)18.9 (2.4%/year)
199613.122.96-9.9
19958.137.58-29.5
199413.41.3212.1
199318.910.088.8
19929.57.621.9
10-Year Cumulative234.2 (12.8%/year)237.5 (12.9%/year)-3.3 (-0.1%/year)

Top Ranked Articles

Sometimes a Bargain Isn't a Bargain Notes on Seth Klarman's comments and answers during the 19th G&D Breakfast – Part I
As a low profile legendary value investor, Seth Klarman (Trades, Portfolio) doesn’t appear in the spotlight very often, but when he does, it’s always the best learning opportunity for every value investor. While reading an old issue of OID (the March 2009 issue), I was lucky to bump into some excerpts from Klarman’s comments and answers to the questions during the 19th Annual Graham & Dodd Breakfast held on Oct. 2, 2008. Below is part I of my notes: Read more...
The Biggest Fear as an Investor Klarman says his fear is buying a stock too soon on the way down from overvalued levels
Seth Klarman (Trades, Portfolio) was once asked what his biggest fear was as an investor. Here is what he said: Read more...
Sometimes a Bargain Isn't a Bargain - Part 2 Notes on Seth Klarman's talk at the 18th annual Graham & Dodd Breakfast
In my previous article (link), I posted the first part of my notes from Seth Klarman's comments and answers during the 18th Graham & Dodd Breakfast held in October 2008. This article contains the second part of my notes: Read more...
Seth Klarman and How to React to a Market Downturn Market downturns prove who is really a value investor, according to guru
During 2009, The Outstanding Investor Digest interviewed Seth Klarman (Trades, Portfolio) on his views after the subprime bubble burst. Some of the comments made by Klarman remain as relevant today as in those days. Here are some of the best excerpts from the interview: Read more...
On When to Sell a Stock Why, when and how to sell stocks
» More Seth Klarman Articles

Commentaries and Stories

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On Long-Term Systematic Investing Investing for the long run reduces competition Warren Buffett,Seth Klarman - On Long-Term Systematic Investing
I started Sure Dividend to help individual investors invest better. More...

LONG, INVESTING


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Why Klarman Is Loading up on PBF Reverse engineering Klarman's possible motivation to get involved with the 4th largest refiner in the US Seth Klarman - Why Klarman Is Loading Up On PBF
With both Buffett and Klarman loading up on refineries, it is hard not to be intrigued. Last month, I examined what could motivate Buffett to pursue Philips 66 and in this article I’ll do the same for Klarman, who acquired 16% of PBF Energy (NYSE:PBF). More...

VLO, PSX, MPC, PBF, TSO


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Seth Klarman Keeps Pouring Money Into This Oil Refiner True to style, Klarman may have found a better bargain than Buffett's Phillips 66 Seth Klarman - Seth Klarman Keeps Pouring Money Into This Oil Refiner
Seth Klarman (Trades, Portfolio), a conservative investor who runs Boston-based Baupost Management, again added to his growing position PBF Energy (NYSE:PBF), the fourth-largest independent oil refiner in the U.S. – two spaces below Warren Buffett (Trades, Portfolio)’s refiner Phillips 66 (NYSE:PSX) More...

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The 6 Principles of Value Investing Principles every value investor needs to understand in order to succeed Warren Buffett, Seth Klarman - The 6 Principles Of Value Investing
The world of investing can be a complicated place to navigate. Where do you start? For beginners, the sheer volume of information available to them on the internet has only served to make the process more complex and increase confusion. More...

VALUE INVESTING, WARREN BUFFETT, CHARLIE MUNGER, WALTER SCHLOSS, BENJAMIN GRAHAM, VALUE, VALUE INVESTING, BUY STOCKS, INTRINSIC VALUE, MARGIN OF SAFETY


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Seth Klarman Buys Stake in Citigroup Citigroup is a leading global bank with more than 200 million customer accounts Seth Klarman - Seth Klarman Buys Stake In Citigroup
Seth Klarman (Trades, Portfolio), value investor and the author of "Margin of Safety," purchased a 5,167,000-share stake in Citigroup (C) for an average price of $44.18 per share during the second quarter. The trade had a 2.99% impact on Klarman's portfolio. More...

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Mattress, Roulette or Somewhere Between Investing with a margin of safety Howard Marks, Seth Klarman - Mattress, Roulette Or Somewhere Between
Does more risk equal more return? Or does investing with a margin of safety reduce risk and increase returns? More...

MARGIN OF SAFETY, VALUE INVESTING, RISK, VOLATILITY, SETH KLARMIN, HOWARD MARKS


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Seth Klarman Sells Paypal, Novagold Guru's largest 2nd quarter sales Seth Klarman - Seth Klarman Sells Paypal, Novagold
Seth Klarman (Trades, Portfolio) is a value investor and portfolio manager at The Baupost Group. During the second quarter, the guru sold shares in the following stocks. More...

KLARMAN, SALES, SECOND, QUARTER


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Investing With a Margin of Safety Does more risk really mean more returns? Howard Marks, Seth Klarman - Investing With A Margin Of Safety
Does more risk equal more return? Or does investing with a margin of safety reduce risk and increase returns? More...

MARGIN OF SAFETY, VALUE INVESTING, RISK, VOLATILITY, SETH KLARMIN, HOWARD MARKS


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What Is the Fastest & Best Way for a Working Class Person to Become a Multi-Millionaire? This article looks at the folly of 'getting rich quick' and shows how working class people actually get wealthy Warren Buffett, Seth Klarman - What Is The Fastest & Best Way For A Working Class Person To Become A Multi-Millionaire?
A few months ago, I received a request to write about the fastest and best way for a working class person to become a multi-millionaire – and to hold onto his/her money. More...

LONG, DIVIDENDS


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Seth Klarman’s Top 2nd Quarter Buys The guru’s top 3 new holdings Seth Klarman - Seth Klarman’s Top 2nd Quarter Buys
Seth Klarman (Trades, Portfolio) of The Baupost Group acquired three new holdings in the second quarter – Citigroup Inc. (NYSE:C), Liberty Interactive Corp. (NASDAQ:LVNTA) and Avis Budget Group Inc. (NASDAQ:CAR). More...

KLARMAN, BAUPOST, BUYS


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5 Lessons From Seth Klarman Key lessons investors can learn from Seth Klarman - 5 Lessons From Seth Klarman
Seth Klarman (Trades, Portfolio) is one of the most followed value investors ever and one of the most successful hedge fund managers of all time. The founder of Baupost Group, the $27 billion hedge fund has achieved stellar returns for investors over his career, with Business Insider reporting that since 1983, Klarman has made his investors net gains of $22.6 billion. In percentage terms, on average Baupost has returned 19% p.a., even though the fund tends to have a large cash allocation. More...

SETH KLARMAN, VALUE INVESTING, WALTER SCHLOSS, VALUE, WARREN BUFFETT, MARGIN OF SAFETY


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Companies Approach 5-Year Lows Global Partners, Paratek Pharmaceuticals, KVH Industries, LMI Aerospace near landmarks Seth Klarman - Companies Approach 5-Year Lows
According to GuruFocus' list of five-year lows, these stocks have reached their five-year lows: Global Partners LP (NYSE:GLP), Paratek Pharmaceuticals Inc. (NASDAQ:PRTK), KVH Industries Inc. (NASDAQ:KVHI) and LMI Aerospace Inc. (NASDAQ:LMIA). More...

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How to Integrate Multiple Dividend Newsletter Ideas in Your Portfolio Combine ideas from a variety of newsletters Warren Buffett,Seth Klarman - How To Integrate Multiple Dividend Newsletter Ideas In Your Portfolio
I designed "Sure Dividend" to be an all-in-one dividend growth portfolio solution. That’s what I thought would provide the most value to people. More...

LONG, NEWSLETTERS, DIVIDENDS


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Seth Klarman Buys 25 Million Shares of Cascadian Therapeutics Klarman takes 18 percent of cancer treatment developer as FDA fast-tracks product Seth Klarman - Seth Klarman Buys 25 Million Shares Of Cascadian Therapeutics
Seth Klarman (Trades, Portfolio) continues to top weight his portfolio with outsized stakes in health care and pharmaceutical companies. June 30, he bought 18.5% of a company designing a treatment for breast cancer. More...

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Seth Klarman Buys 25 Million Shares of Cascadian Therapeutics Company has zero debt and is trading close to a 5-year low Seth Klarman - Seth Klarman Buys 25 Million Shares Of Cascadian Therapeutics
Seth Klarman (Trades, Portfolio) purchased 25 million shares in biotechnology company Cascadian Therapeutics Inc. (NASDAQ:CASC) on June 30. Klarman paid 94 cents per share in a deal that had a 0.34% impact on his portfolio. More...

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Seth Klarman Adds to Stake in EMC Guru buys more than 22 million shares of EMC Seth Klarman - Seth Klarman Adds To Stake In EMC
During the first quarter, Seth Klarman (Trades, Portfolio) added 22,602,881 shares of EMC Corp. (NYSE:EMC) at an average price of $25.32. The addition had a 8.77% impact on Klarman's portfolio. He now owns 51,851,500 shares of EMC Corp. More...

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Celgene: Is It a Buy? Blood cancer specialist tumbles from record high Seth Klarman,Warren Buffett - Celgene: Is It A Buy?
Celgene (NASDAQ:CELG), among other biotech companies, has fallen from its record high. The company has returned negative 15% for the past year, and negative 26% from its high of $134 a share back in July 2015 compared to its Tuesday morning price of $96.89 a share. The iShares NASDAQ Biotechnology Index ETF, on the other hand, has performed worst at negative 32% for the past year. Along with leveraged commodity ETFs, the biotech sector has experienced Mr. Market’s dark side. The Standard & Poor's 500 returned -2% in the same timeframe. More...

VALUE INVESTING


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Here’s How Enbridge Can Give Investors 12%-Plus Total Returns Company's above-average total return potential for long-term dividend investors Seth Klarman - Here’s How Enbridge Can Give Investors 12%-Plus Total Returns
Too many investors fixate on short-term price movements. The long-term investing view is what really matters. More...

LONG, ENERGY, DIVIDENDS, CANADA


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On When to Sell a Stock Why, when and how to sell stocks Seth Klarman,Warren Buffett - On When To Sell A Stock
More...

SETH KLARMAN, SELLING STOCKS, WHEN TO SELL A STOCK, WHEN TO SELL, INVESTING STRATEGY, TRAILING STOP


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David Tepper Adds to Stake in Delta Air Lines Delta looks to be a solid investment for Tepper who has netted 26.7% for his Appaloosa fund since 1993 David Tepper,Seth Klarman,Bruce Berkowitz - David Tepper Adds To Stake In Delta Air Lines
Guru David Tepper (Trades, Portfolio), founder and president of Appaloosa Management LP, added 1,271,440 shares to his stake in Delta Air Lines Inc. (NYSE:DAL) during the first quarter. More...

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