Seth Klarman's Baupost made a near $500 million bet

Baupost Group invested nearly half a billion dollars in semiconductor company Qorvo in the first quarter, a regulatory filing shows.

The Boston-based hedge fund firm invested about $493 million in the first three months of this year, according to the firm's first-quarter 13-F filing.

The firm also invested $299 million in Qualcommn, the filing says.

Investors must file 13-F documents within 45 days of each quarter's end, so Baupost's positions may have since changed.

The filing also does not give a full picture of an investor's portfolio, as it only shows its long stock positions, as well as options and convertible bonds.

In other words, what appears to be a long position could be hedged out by other means.