For the 1st time because 2011, billionaire investor Seth Klarman (Trades, Portfolio) is looking for more capital for his hedge fund.
Owning complained about the absence of bargains in the overvalued market for a long time, Bloomberg reported on Thursday that the benefit investor told clients that Baupost Team has put in about $1.5 billion on assets in new months amid the carnage triggered by the coronavirus pandemic.
The guru’s renewed bullish outlook is still in stark contrast to his fund’s efficiency, on the other hand, possessing posted losses amid the broader selloff. Bloomberg reported that a individual familiar with the matter claimed the Boston-based mostly company, which manages about $29 billion, pointed out its preliminary estimates show it fell as substantially as eight% in the 1st two months of March and has declined around 10% yr to day. In comparison, the S&P 500 Index dropped just about eight% in early March and is down more than 20% this yr.
Previous yr, the fund attained more than eight%.
In accordance to GuruFocus portfolio details, Klarman’s $eight.sixty billion equity portfolio, which was composed of 29 holdings as of the finish of fourth-quarter 2019, was most heavily invested in the interaction services sector at 40.48%.
The guru’s 10 largest positions as of Dec. 31, 2019 ended up Liberty World PLC (LBTYK), Fox Corp. (NASDAQ:FOXA), Viasat Inc. (NASDAQ:VSAT), eBay Inc. (NASDAQ:EBAY), ViacomCBS Inc. (NASDAQ:VIAC), Cheniere Vitality Inc. (LNG), Qorvo Inc. (NASDAQ:QRVO), Bristol-Myers Squibb Co. (NYSE:BMY), Theravance Biopharma Inc. (NASDAQ:TBPH) and Colony Capital Inc. (NYSE:CLNY).
Disclosure: No positions.
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