A $22 Billion Fund is Holding These Stocks

Seth Klarmans fund The Baupost Group filed its form 13F for the first quarter of 2011.  Following is information on his fund’s holdings.

  1. Alere Inc. (NYSE:ALR):   The company lost $12.30 per share last year, it recently traded at $40.39, and its 52-week trading range is $25.36 to $41.18.  Its market capitalization is $3.4 billion.  The Baupost Group holds 3.1 million shares, valued at $121 million as of the end of Q1 2011.  About the company: Alere, Inc. offers patient diagnosis, monitoring and health management services.  The Company produces consumer and professional medical diagnostic products, and remotely monitors patients for pre-eclampsia, and patients who are prescribed Warfarin for atrial fibrillation.
  2. Alliance One International Inc. (NYSE:AOI): The company earned $0.46 per share and has a price-to-earnings ratio of 8.52.  The shares recently traded at $0.46 per share and have traded in a 52-week range of $3.17 to $5.06.  its market capitalization is $343 million.  The Baupost Group holds 8.7 million shares, valued at $$35 million as of the end of Q1 2011.  About the company: Alliance One International, Inc. is an independent leaf tobacco merchant serving large multinational cigarette manufacturers.  The Company selects, purchases, processes, packs, stores, and ships leaf tobacco.  Alliance One also provides, in certain developing markets, agronomy expertise and financing for the growing of leaf tobacco.
  3. Allied Nevada Gold Corp. (AMEX:ANV): The company earned $0.37 per share and its price-to-earnings ratio is 92.  The shares most recently traded at $33.85 and have traded in a 52-week range of $15.51 to $43.49.  Its market capitalization is $3.01 billion.  The Baupost Group holds 2.4 million shares valued at $87 million as of the end of Q1 2011.  About the company:  Allied Nevada Gold Corporation evaluates, acquires, explores, and advances gold exploration and potential development projects.  The Company’s holdings include projects in Nevada, California, Idaho and Colorado in the United States, as well as Bolivia, Mexico, Indonesia and Australia. Gold Stock Technical Trade Support You Must Know in Today’s Market>>
  4. Audiovox (NASDAQ:VOXX):  The company earned $0.53 per share and its price-to-earnings ratio is 13.5.  The company’s shares most recently traded at $7.18 and have traded in a 52-week range of $6.17 to $9.52.  Its market capitalization is $165 million.  The Baupost Group holds 1 million shares valued at $8.485 million as of the end of Q1 2011.  About the company: Audiovoxx Corporation markets automobile sound, vehicle security, mobile video systems, and consumer electronic products.  The Company markets its products both domestically and internationally under its own brands.
  5. Aveo Pharmaceuticals Inc. (NASDAQ:AVEO):  The company earned $0.87 per share and its price-to-earnings ratio is 20.6.  Its shares recently traded at $17.81 and have traded in a 52-week range of $6.01 to $18.10.  Its market capitalization is $637 million.  The Baupost Group holds 3.5 million shares, values at $46.9 million as of the end of Q1 2011.  About the company:  Aveo Pharmaceuticals, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing cancer therapeutics.  The Company’s lead product candidate is an oral inhibitor of the vascular endothelial growth factor, or VEGF, receptors.
  6. BreitBurn Energy Partners LP (NASDAQ:BBEP): The company lost $2.09 per share.  Its shares have recently traded at $20.25 and have traded in a 52-week range of $13.12 to $23.14.  Its market capitalization is $1.2 billion.  The Baupost Group holds 3 million shares, valued at $65.6 million as of the end of Q1 2011.  About the company:  BreitBurn Energy Partners, LP is an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties.  The Company primarily manages its oil and gas producing properties for the purpose of generating cash flow and making distributions to unitholders.
  7. Capitalsource Inc. (NYSE:CSE):  The company earned $0.25 per share and its price-to-earnings ratio is 24.9.  Its shares most recently traded at $6.24 and they have traded in a 52-week range of $3.87 to $8.21.  Its market capitalization is $2 billion.  The Baupost Group holds 10.45 million shares, valued at $73.5 million as of the end of Q1 2011.  About the company:  CapitalSource, Inc. provides loans to small and medium-sized businesses.  The Company seeks to lend to businesses that require customized and sophisticated debt financing.  CapitalSource offers a variety of loan products, including senior asset-based loans, senior cash flow loans, mortgage loans and mezzanine loans.
  8. Enzon Pharmaceuticals Inc. (NASDAQ:ENZN): The company lost $0.33 per share.  Its stock has recently traded at $11.38, and has traded in a 52-week range of $9.90 to $12.71.  Its market capitalization is $609 million.  The Baupost group holds 9 million shares, valued at $98.1 million as of the end of Q1 2011.  About the company:  Enzon Pharmaceuticals, Inc. is a biopharmaceutical company that discovers, develops, and commercializes therapeutics to treat life-threatening diseases.  The Company has developed several products, including PEG-INTRON.  Enzon’s product-focused strategy includes a drug development program that leverages its PEG modification and single-chain antibody (SCA) technologies.
  9. Ituran Location and Control (NASDAQ:ITRN): The company earned $1 per share and has a price-to-earnings ratio of 15.1.  The shares most recently traded at $15.1 and have traded in a 52-week range of $12.51 to $18.58.  Its market capitalization is $330 million.  The Baupost Group holds 1.6 million shares, valued at $25.285 million as of the end of Q1 2011.  About the company:  Ituran Location and Control Ltd. sells global positioning systems for locating motor vehicles and retrieving stolen cars.  The Company also develops personal advanced locators.
  10. Multimedia Games Inc. (NASDAQ:MGAM): The company earned $0.19 per share and has a price-to-earnings ratio of 29.5.  The shares most recently traded at $5.53 and have traded in a 52-week range of $3.43 to $6.  The company’s market capitalization is $149 million.  The Baupost Group holds 2.6 million shares, valued at $14.898 million as of the end of Q1 2011.  About the company: Multimedia Games, Inc. designs and develops interactive bingo games as well as related electronic player stations and equipment.  The Company’s products are markets to Native American bingo halls located throughout the United States.  Multimedia’s products include MegaBingo, MegaCash, MegaBingo Lite, MegaMania, FlashCash, Big Hit Bingo, Bingo Express, and MegaRacing.
  11. News Corp. (NASDAQ:NWSA): The company earned $1.11 per share and has a price-to-earnings ratio of 15.5.  Its shares most recently traded at $17.30 and have traded in a 52-week range of $11.61 to $18.13.  Its market capitalization is $45.4 billion.  The Baupost Group holds 19.050 million shares, valued at $334 million.  About the company: News Corporation is a diversified global media company.  The Company’s operations include the production and distribution of motion pictures and television programming.  The Company provides television, direct satellite, and cable broadcasting and the publication of newspapers, magazines, books and promotional inserts.
  12. PDL Biopharma Inc. (NASDAQ:PDLI): The company earned $0.60 per share and has a price-to-earnings ratio of 10.8.  Its shares most recently traded at $6.49 and have traded in a 52-week range of $4.66 to $6.75.  Its market capitalization is $906 million.  The Baupost Group holds 10,495 million shares value at $60.872 million as of the end of Q1 2011.  About the company:  PDL BioPharma, Inc. discovers, develops, and markets therapies for serious or life-threatening illnesses, commercially focused on the acute care, hospital setting.
  13. Sycamore Networks, Inc. (NASDAQ:SCMR):  The company lost $0.47 per share last year.  Its stock most recently traded at $22.64 and it has traded in a 52-week range of $16.18 to $34.31.  Its market capitalization is $646 million.  The Baupost Group holds 100,000 shares valued at $2.443 million as of the end of Q1 2011.   About the company:  Sycamore Networks, Inc. develops and markets software-based optical networking products.  The Company’s customers include local exchange carriers, incumbent local exchange carriers, long distance carriers, Internet service providers, cable operators, international telephone companies, and wholesale carriers.
  14. Syneron Medical, Ltd. (NASDAQ:ELOS): The company lost $0.74 per share last year.  Its shares most recently traded at $12.17 and have traded in a 52-week range of $7.60 to $14.92.  Its market capitalization is $423 million.  The Baupost Group holds 1.5 million shares valued at $19.56 million at the end of Q1 2011.  About the company: Syneron Medical Ltd. designs, develops, and markets aesthetic medical products based on proprietary Electro-Optical Synergy, or ELOS technologies.  The Company’s products include Aurora-Hair Removal, Skin Treatment and Acne treatment systems.
  15. Theravance, Inc. (NASDAQ:THRX): The company lost $1.11 per share last year.  Its shares most recently traded at $26.19 and have traded in a 52-week range of $11.74 to $28.95.  Its market capitalization is $2.2 billion.  The Baupost Group holds 64 million shares, which are valued at $372.936 million as of the end of Q1 2011.  About the company:  Theravance, Inc. is a biopharmaceutical company that discovers, develops, and markets small molecule medicines for unmet medical needs across a number of therapeutic areas including respiratory disease, bacterial infections, and gastrointestinal orders.
  16. Viasat Inc. (NASDAQ:VSAT): The company earned $0.83 per share last year and it has a price-to-earnings ratio of 50.2.  The shares most recently traded at $41.68 and they have traded in a 52-week range of $30.6 to $46.  Its market capitalization is $1.7 billion.  The Baupost Group holds 10.051 million shares, valued at $400.451 million as of the end of Q1 2011.  About the company: ViaSat, Inc. provides advanced broadband digital satellite communications and other wireless networking and signal processing equipment and services.  The Company’s defense products include satellite communications products consisting of modems, terminals, and network control systems, advanced multifunction information distribution systems, and simulation test equipment.

Note: Financial data is taken from Yahoo! Finance.  Selected other data is taken from Google Finance and publicly available SEC documents.  All data are assumed to be accurate.

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