(Bloomberg) -- Seth Klarman's Baupost Group posted a gain of about 2.8 percent so far this year as the hedge fund industry is on track for a yearly decline.
The Boston-based hedge fund's return is year-to-date through November, according to people familiar with the matter. A spokeswoman for Baupost declined to comment.
Global hedge funds lost 0.1 percent on average in 2018 through last month, according to Hedge Fund Research Inc. The industry has struggled this year amid market volatility driven by rising interest rates and geopolitical tensions.
In the third quarter, Baupost's largest U.S. stock position was Twenty-First Century Fox, according to regulatory filings. Shares gained about 40 percent so far this year after its deal with Walt Disney Co.
Read More: Klarman's Baupost Is Said to Plan to Return Some Investor Money
To contact the reporters on this story: Shelly Hagan in New York at shagan9@bloomberg.net;Michael McDonald in Boston at mmcdonald10@bloomberg.net
To contact the editors responsible for this story: Margaret Collins at mcollins45@bloomberg.net, Mary Romano
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