Billionaire Klarman’s Top Small-Cap Picks: ViaSat Inc., Theravance Inc., PBF Energy

Klarman also kept his position unchanged in the North American independent refiner, PBF Energy Inc. (NYSE:PBF), with Baupost Group’s position amounting to 8.66 million shares valued at $293.85 million. Even though the current and potential investors of PBF Energy might be worried about its medium- and long-term crude exports, the company generated a profit of $87.32 million in the first quarter of the year, slightly beating analysts’ estimates. Moreover, PBF Energy’s management has declared that its quarterly financial results look pretty good in spite of the challenges the company has been facing. Although PBF Energy’s shares have increased by more than 2% since the beginning of the current year. Tim Mullen’s Swift Run Capital Management increased its equity stake in PBF Energy Inc. (NYSE:PBF) to 201,336 shares during the first quarter.

The Baupost Group added 4.08 million shares to its stake in Keryx Biopharmaceuticals Inc. (NASDAQ:KERX), enlarging the hedge fund’s position in the biopharmaceutical company to 22.38 million shares, which were valued at $284.90 million as of March 31. Regardless of the fact that the shares of Keryx have dropped by 27% since the beginning of the year, the company is currently expanding its operations in Boston, and a newly-launched drug used to manage phosphate levels and enhance iron levels will be crucial in boosting the company’s growth and revenue. Keryx Biopharmaceuticals’ CEO, Greg Madison, has declared himself pleased with the clinical adoption rate of this drug, which might put the company back on track. Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management increased its stake in the company during the first quarter.

Disclosure: None