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One of the world's best value investors is loading up on this small, energy company
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Wednesday, May 06, 2009
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From Market Folly:

Hedge fund Baupost Group [managed by Seth Klarman] has filed an activist stake via 13D filing and has disclosed a 16.1% ownership stake in Breitburn Energy Partners (BBEP) due to activity on April 27th, 2009. They now own 8,495,939 shares.

This is not a new position for Klarman, as they previously owned 8,157,439 shares. That figure was as of December 31st, 2008 when we looked at Baupost's entire portfolio. Since December, Baupost has obviously added slightly to their stake in Breitburn.

Originally, they had filed a 13G on Breitburn back in October of 2008. But, they've decided to file the 13D to reserve their right to take on an activist role to bring change to the company…

Read full article...

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Topics: Energy | Value_Investing | Stocks
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