Seth Klarman, the legendary value investor and portfolio manager of The Baupost Group, was actively trimming and selling in the second quarter of 2013. His current portfolio shows 24 stocks, five of them new, and a total value of $4.02 billion. His quarter-over-quarter turnover is 22%.
Here are the details on Klarman’s three sell outs and nine reductions, as of June 30, 2013:
Up 4% over 12 Months
News Corporation (NWS, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 4,047,412 shares at an average price of $15.52 for a gain of 4.2%.
Historical pricing:
Up 34% over 12 Months
Elan Corp. PLC (ELN, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 9,126,227 shares at an average price of $12.37 for a gain of 27%. He gained 44.7% on those same shares at an average price of $10.86 per share in the first quarter of 2013.
Historical pricing:
Up 19% over 12 Months
Directv (DTV, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 207,300 shares at an average price of $59.90 for a gain of 2.2%. He gained 104.8% on 1,617,471 shares bought at an average price of $29.89 in the fourth quarter of 2009.
Up 41% over 12 Months
American International Group Inc. (AIG, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 14.6%. His current shares stand at 10,120,227 after the trade.
Klarman has averaged 36% on 11,850,200 shares bought at an average price of $35.540 for a gain of 36%.
Up 26% over 12 Months
Rovi Corp. (ROVI, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 24.51%. His current shares stand at 6,160,000 after the trade.
Klarman has averaged 3.6% on 8,160,000 shares bought at an average price of $18.23 per share.
Up 6% over 12 Months
Oracle Corporation (ORCL, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 29.53%, unloading 1,000,000 shares at an average price of $33.180 for a gain of 0.4%. His current shares stand at 2,386,890 after the trade.
Klarman has averaged a gain of 20% on 15,800,000 shares bought at an average price of $27.84 per share.
Down 74% over 12 Months
AVEO Pharmaceuticals Inc. (AVEO, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 21.9%, unloading 1,073,500 shares at an average price of $4.27 for a loss of 45.7%.
Klarman has averaged a loss of 85% on 5,084,652 shares bought at an average price of $15.43 per share.
Up 36% over 12 Months
Central Pacific Financial Corporation (CPF, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 17.13%, unloading 308,269 shares at an average price of $17.05 for a gain of 5.8%.
Klarman has averaged a gain of 22% on 1,800,000 shares bought at an average price of $14.78 per share.
Up 73% over 12 months
Ituran Location and Control Ltd. (ITRN, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 22.34%, unloading 298,661 shares at an average price of $16.31 for a gain of 14%.
Klarman has averaged a gain of 60% on 500,497 shares bought at an average price of $11.65 per share.
Here’s a summary of all of Seth Klarman’s trading.
GuruFocus Real Time Picksreports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.
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Here are the details on Klarman’s three sell outs and nine reductions, as of June 30, 2013:
Up 4% over 12 Months
News Corporation (NWS, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 4,047,412 shares at an average price of $15.52 for a gain of 4.2%.
Historical pricing:
Up 34% over 12 Months
Elan Corp. PLC (ELN, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 9,126,227 shares at an average price of $12.37 for a gain of 27%. He gained 44.7% on those same shares at an average price of $10.86 per share in the first quarter of 2013.
Historical pricing:
Up 19% over 12 Months
Directv (DTV, Financial): Sold Out
Guru Action: As of June 30, 2013, Seth Klarman sold out his position, unloading 207,300 shares at an average price of $59.90 for a gain of 2.2%. He gained 104.8% on 1,617,471 shares bought at an average price of $29.89 in the fourth quarter of 2009.
Up 41% over 12 Months
American International Group Inc. (AIG, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 14.6%. His current shares stand at 10,120,227 after the trade.
Klarman has averaged 36% on 11,850,200 shares bought at an average price of $35.540 for a gain of 36%.
Up 26% over 12 Months
Rovi Corp. (ROVI, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 24.51%. His current shares stand at 6,160,000 after the trade.
Klarman has averaged 3.6% on 8,160,000 shares bought at an average price of $18.23 per share.
Up 6% over 12 Months
Oracle Corporation (ORCL, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 29.53%, unloading 1,000,000 shares at an average price of $33.180 for a gain of 0.4%. His current shares stand at 2,386,890 after the trade.
Klarman has averaged a gain of 20% on 15,800,000 shares bought at an average price of $27.84 per share.
Down 74% over 12 Months
AVEO Pharmaceuticals Inc. (AVEO, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 21.9%, unloading 1,073,500 shares at an average price of $4.27 for a loss of 45.7%.
Klarman has averaged a loss of 85% on 5,084,652 shares bought at an average price of $15.43 per share.
Up 36% over 12 Months
Central Pacific Financial Corporation (CPF, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 17.13%, unloading 308,269 shares at an average price of $17.05 for a gain of 5.8%.
Klarman has averaged a gain of 22% on 1,800,000 shares bought at an average price of $14.78 per share.
Up 73% over 12 months
Ituran Location and Control Ltd. (ITRN, Financial): Reduced
Guru Action: As of June 30, 2013, Seth Klarman reduced his position by 22.34%, unloading 298,661 shares at an average price of $16.31 for a gain of 14%.
Klarman has averaged a gain of 60% on 500,497 shares bought at an average price of $11.65 per share.
Here’s a summary of all of Seth Klarman’s trading.
GuruFocus Real Time Picksreports the stock purchases and sales that Gurus have made within the prior 2 weeks. The report time lag can be as short as 2 days after the date of the transaction. This feature is for Premium Members only.
If you are not a Premium Member, we invite you for a 7-day Free Trial.
