Seth Klarman’s Baupost Dumps Alliance One International Inc. Position

Baupost Group, the hedge fund managed by acclaimed value investor Seth Klarman, has sold the rest of its Alliance One International Inc. according to the fund's Schedule 13G filed with the SEC.

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Alliance One International is a leading independent leaf tobacco merchant serving the world's largest cigarette manufacturers, and Seth Klarman has been a fan of the company for quite some time.

Baupost started building a position in the tobacco producer during the fourth quarter of 2007 (Baupost sold a relatively small holding of 150,000 shares of the company during the first quarter of 2007). Between the end of 2007 and Q2 2009, Baupost accumulated around 9 million Alliance One shares, amounting to just under 3% of the fund's equity portfolio and...