Seth Klarman's Baupost Group Sells More Syneron Medical (ELOS) ~ market folly

Wednesday, December 9, 2009

Seth Klarman's Baupost Group Sells More Syneron Medical (ELOS)

In an amended 13G just filed with the SEC, Seth Klarman's hedge fund Baupost Group has disclosed a 5.45% ownership stake in Syneron Medical (ELOS). The filing was made due to activity on November 30th, 2009 and they now hold 1,500,000 shares. This is a decrease from their prior holdings. As we detailed when we covered Baupost's portfolio, they've been selling shares of Syneron for a while now (even prior to September 30th). Back then, they owned 2,096,235 shares which means they have sold 596,235 shares (a 28% decrease) in the past two and a half months.

In terms of other recent activity out of hedge fund Baupost, we saw in November that they had started a new stake in Enzon Pharmaceuticals. For more on Baupost's portfolio, head to our post on Seth Klarman's holdings to see what else they are investing in.

We track Baupost Group for their 20% annual compounded return, long-term focus, and thorough investing methodology focused on value investing principles. They are one of the few hedge funds we have included in our Market Folly custom portfolio that is seeing 25.5% annualized returns. (Head over to Alphaclone to see the hedge fund portfolio replication in action). And if you want to learn how to invest like Seth Klarman, then we'd highly recommend picking up his hard to find book, Margin of Safety. In it, he lays out the premise for risk averse value investing.

For more resources of Klarman and Baupost, check out the following:

- Klarman's interview from the annual Graham & Dodd breakfast
- Thoughts from Seth Klarman
- And another interview with Seth Klarman

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