Seth Klarman Trims Breitburn Energy Partners (BBEP) & Alliance One International (AOI) Positions ~ market folly

Tuesday, December 14, 2010

Seth Klarman Trims Breitburn Energy Partners (BBEP) & Alliance One International (AOI) Positions

Seth Klarman's hedge fund firm Baupost Group recently filed two amended 13G's with the SEC. First, due to portfolio activity on November 30th, Baupost has disclosed a 9.35% ownership stake in Breitburn Energy Partners (BBEP) with 4,983,600 shares. This is a decrease in their position to the tune of 30% (Baupost previously owned 7,160,500 shares as of September 30th).

Second, Klarman has also revealed a very slight reduction in his Alliance One International (AOI) position. Per an amended 13G, Baupost now shows a 10.09% ownership stake in AOI with 8,786,700 shares. Back on September 30th, the hedge fund firm owned 8,800,000 shares.

Baupost continues to trim exposure to stocks and you can see the rest of Baupost's equity positions here. Klarman recently announced that he would be returning some capital to investors, citing lack of opportunities. You can view his market concerns in an interview with Klarman.

Per Google Finance, Breitburn Energy Partners is "an independent oil and gas partnership focused on the acquisition, exploitation and development of oil and gas properties in the United States. The Company’s assets consist of producing and non-producing crude oil and natural gas reserves ."

Alliance One International is "engaged in purchasing, processing, storing, and selling leaf tobacco. The Company purchases tobacco in the United States, Africa, Europe, South America and Asia for sale to customers primarily in the United States, Europe and Asia."

To learn how to invest like this great investor, we point you to Seth Klarman's recommended reading list.

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