Seth Klarman Buys Sanchez Energy, Biotie, and Frontier Communication

Seth Klarman's Baupost Group added positions in energy, biotech, and telecoms during the second quarter while reducing its exposure to key energy stocks, according to a 13F filing. It is important to note that most of Baupost's investments are in assets which are not required to be reported with the SEC, so the equities mentioned represent just a small picture.

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Seth Klarman: New Acquisitions

During the second quarter, Seth Klarman added three new positions to his fund: Sanchez Energy Corp., Biotie Therapies Corp. and Frontier Communications Corp.

The biggest buy was Frontier Communications Corp. Seth Klarman acquired both the common and series A preferred stock of Frontier for Baupost and the total...