Seth Klarman, widely recognized as one of the best living investors, purchased five new positions in the second quarter, according to his portfolio report today. All of the stocks come from the metals and mining or semiconductor sectors. With the new additions, his concentrated portfolio contains 24 holdings total, with a value of $4.02 billion and a 41.3% sector weighting in technology – the largest sector represented.
Klarman runs the Boston-based Baupost Group and prizes the cheapest of the cheap stocks.
His new holdings, in order from largest to smallest, are: Micron Technology (MU, Financial), Chipmos Technologies Bernuda Ltd. (IMOS, Financial), Yamana Gold Inc. (AUY, Financial), Kinross Gold Corp (KGC, Financial) and Pretium Resources Inc. (PVG, Financial).
Micron Technologies (MU)
Klarman purchased 41.5 million shares of Micron Technology Inc. in the second quarter when the price averaged $11. This is a 14.8% portfolio weight position and represents 4.06% of the company’s shares outstanding. The price has since increased 32%.
Micron Technology Inc. is a Delaware Corporation which was incorporated in 1978. Micron Technology Inc. has a market cap of $15.54 billion; its shares were traded at around $14.96 with and P/S ratio of 1.80. Micron Technology Inc. had an annual average earnings growth of 21.1% over the past 10 years. GuruFocus rated Micron Technology Inc. the business predictability rank of 2-star.
Chipmos Technologies Bernuda Ltd. (IMOS)
Klarman purchased 2,763,530 shares of Chipmos Technologies for $16 in the second quarter when the price averaged $16. The position represents 1.3% of his portfolio and 8.18% of shares outstanding. The price has remained relatively flat.
Chipmos Technologies Bermuda Ltd. is a holding company, incorporated in August 2000. Chipmos Technologies Bermuda Ltd. has a market cap of $581.5 million; its shares were traded at around $17.31 with a P/E ratio of 12.00 and P/S ratio of 0.70. The dividend yield of Chipmos Technologies Bermuda Ltd. stocks is 0.80%. Chipmos Technologies Bermuda Ltd. had an annual average earnings growth of 19.3% over the past five years.
Yamana Gold Inc. (AUY)
Seth Klarman purchased 3,255,500 shares of Yamana in the second quarter when the price averaged $12. Since then the price dropped 9%. The holding represents 0.77% of his portfolio and 0.43% of shares outstanding.
Yamana Gold Inc. is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Yamana Gold Inc. has a market cap of $8.1 billion; its shares were traded at around $10.77 with a P/E ratio of 25.00 and P/S ratio of 3.70. The dividend yield of Yamana Gold Inc. stocks is 2.50%. Yamana Gold Inc. had an annual average earnings growth of 35.8% over the past five years.
Kinross Gold Corporation (KGC)
Klarman purchased 2,102,700 shares of Kinross Gold Corporation in the second quarter when the share price averaged $6. The holding represents 0.27% of his portfolio and 0.18% of shares outstanding. The price is down 4% since.
Kinross Gold Corporation was initially created in May 1993 by the amalgamation of CMP Resources Ltd. Kinross Gold Corporation has a market cap of $6.59 billion; its shares were traded at around $5.77 with a P/E ratio of 9.40 and P/S ratio of 1.50. The dividend yield of Kinross Gold Corporation stocks is 2.80%.
Pretium Resources Inc. (PVG)
Klarman purchased 155,700 shares of Pretium Resources in the second quarter when the price averaged $7. The holding represents 0.026% of his portfolio. The price has increased 25% since.
Pretium Resources Inc. is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. Pretium Resources Inc. has a market cap of $910.1 million; its shares were traded at around $8.90.
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Klarman runs the Boston-based Baupost Group and prizes the cheapest of the cheap stocks.
His new holdings, in order from largest to smallest, are: Micron Technology (MU, Financial), Chipmos Technologies Bernuda Ltd. (IMOS, Financial), Yamana Gold Inc. (AUY, Financial), Kinross Gold Corp (KGC, Financial) and Pretium Resources Inc. (PVG, Financial).
Micron Technologies (MU)
Klarman purchased 41.5 million shares of Micron Technology Inc. in the second quarter when the price averaged $11. This is a 14.8% portfolio weight position and represents 4.06% of the company’s shares outstanding. The price has since increased 32%.
Micron Technology Inc. is a Delaware Corporation which was incorporated in 1978. Micron Technology Inc. has a market cap of $15.54 billion; its shares were traded at around $14.96 with and P/S ratio of 1.80. Micron Technology Inc. had an annual average earnings growth of 21.1% over the past 10 years. GuruFocus rated Micron Technology Inc. the business predictability rank of 2-star.
Chipmos Technologies Bernuda Ltd. (IMOS)
Klarman purchased 2,763,530 shares of Chipmos Technologies for $16 in the second quarter when the price averaged $16. The position represents 1.3% of his portfolio and 8.18% of shares outstanding. The price has remained relatively flat.
Chipmos Technologies Bermuda Ltd. is a holding company, incorporated in August 2000. Chipmos Technologies Bermuda Ltd. has a market cap of $581.5 million; its shares were traded at around $17.31 with a P/E ratio of 12.00 and P/S ratio of 0.70. The dividend yield of Chipmos Technologies Bermuda Ltd. stocks is 0.80%. Chipmos Technologies Bermuda Ltd. had an annual average earnings growth of 19.3% over the past five years.
Yamana Gold Inc. (AUY)
Seth Klarman purchased 3,255,500 shares of Yamana in the second quarter when the price averaged $12. Since then the price dropped 9%. The holding represents 0.77% of his portfolio and 0.43% of shares outstanding.
Yamana Gold Inc. is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties and land positions in Brazil, Chile, Argentina, Mexico and Colombia. Yamana Gold Inc. has a market cap of $8.1 billion; its shares were traded at around $10.77 with a P/E ratio of 25.00 and P/S ratio of 3.70. The dividend yield of Yamana Gold Inc. stocks is 2.50%. Yamana Gold Inc. had an annual average earnings growth of 35.8% over the past five years.
Kinross Gold Corporation (KGC)
Klarman purchased 2,102,700 shares of Kinross Gold Corporation in the second quarter when the share price averaged $6. The holding represents 0.27% of his portfolio and 0.18% of shares outstanding. The price is down 4% since.
Kinross Gold Corporation was initially created in May 1993 by the amalgamation of CMP Resources Ltd. Kinross Gold Corporation has a market cap of $6.59 billion; its shares were traded at around $5.77 with a P/E ratio of 9.40 and P/S ratio of 1.50. The dividend yield of Kinross Gold Corporation stocks is 2.80%.
Pretium Resources Inc. (PVG)
Klarman purchased 155,700 shares of Pretium Resources in the second quarter when the price averaged $7. The holding represents 0.026% of his portfolio. The price has increased 25% since.
Pretium Resources Inc. is engaged in the acquisition, exploration and development of precious metal resource properties in the Americas. Pretium Resources Inc. has a market cap of $910.1 million; its shares were traded at around $8.90.
Visit Seth Klarman’s portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Seth Klarman.
Interested in GuruFocus Premium Membership? Try it free for 7 days.
