Seth Klarman Increases Borders Stake and Invests Heavily in SPAC's

Somehow I missed this when it was released.....sorry


Baupost Group head and value investor extraordinaire (by that I mean 20% plus annual returns) Seth Klarman has increased his stake in Borders Group (BGP).

Baupost now holds 5.72 million shares, up from 4.9 million held in the May filing.

What is really odd about the filing is the number of "blank check coporations" or SPAC's Klarman owns shares in.

There is :
Capitol Acquisition Corp. (CLA)- 2.1m shares
BPW Acquisition Corp. (BPW)- 1.1 m shares (including warrants)
China Holdings Acquisition Corp. (HOL)- 1.05m shares
Columbus Acquisition Corp.- (BUS.U)- 750k shares
GHL Acquisition Corp (GHQ)- 3.5m shares (including warrants)
Global Consumer Acquisition Corp. (GHC)- 5.9m shares (including warrants)
GSC ACquisition Corp. (GGA)- 850k shares
Hicks Acquisition Corp. (TOH)- 1.9m shares
Highlands Acquisition Corp. (HIA)- 525k shares
Prospect Acquisition Corp. (PAX)- 3.4m shares (including warrants)

There are a total of 22 SPAC's listed in the filing. I could not find any relationship to them other than the investment by Klarman and Baupost. It is odd and warrants more looking into. It does seem a bit odd that the SPAC's are alleged to be "gambling" for ordinary investors but here we have a true value investor, and a very good one going headfirst into these things..



August 13HR Filing
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Disclosure ("none" means no position):

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