Must-know: The Baupost Group’s 2Q14 positions

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Baupost Group’s 2Q14 positions

Seth Klarman’s Baupost Group is one of the best-performing hedge fund managers of all time. It has generated $21.5 billion in returns over its history. In this series, we’ll discuss the notable positions that the $27 billion fund traded during 2Q14.

The fund initiated new positions in eBay Inc. (EBAY), Theravance Biopharma Inc. (TBPH), SunEdison Semiconductor (SEMI), and Kosmos Energy (KOS). It fully exited its stake in BP plc (BP).

 

Notable position increases during the quarter were Cheniere Energy, Keryx Biopharmaceuticals, and TriQuint Semiconductor. These positions were initiated in the first quarter. You can reads the details in Must-know highlights of the Baupost Group’s 1Q 2014 positions.

 

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The size of the fund’s U.S. long portfolio increased 48% to $6.14 billion in the second quarter from $4.14 billion in the first quarter. The fund’s top positions include Micron Technology, Idenix Pharmaceuticals, and Viasat. Baupost benefited from the Idenix position because Merck agreed to buy the hepatitis drug maker for ~$3.85 billion in June.

 

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