Seth Klarman
Seth Klarman's Baupost Group holds 22 U.S.-equity positions worth $5.1B (SEC 13F, Q1 2026). Top positions: Amazon.Com Inc 12.7%, Restaurant Brands International Inc. 11.7%, Wesco International Inc. 7.7%. 13F-replication return is +28% over 3 years (-44 pts vs the S&P 500) — a replicated, non-audited figure.
Holdings
| Stock | % of portfolio | Shares | Value | Latest activity | Avg buy price | Current price | Date |
|---|---|---|---|---|---|---|---|
| AMZN Amazon.Com Inc | 12.7% | 3.1M | $650M | ▲ 47% (+997K) | $130.36 | $232.79 (+79%) | 2026-03-31 |
| QSR Restaurant Brands International Inc. | 11.7% | 8.1M | $597M | — | $72.14 | $71.85 (−0%) | 2026-03-31 |
| WCC Wesco International Inc. | 7.7% | 1.4M | $393M | ▲ 1.3% (+18K) | $171.28 | $369.72 (+116%) | 2026-03-31 |
| UNP Union Pacific Corp. | 7.3% | 1.5M | $374M | ▼ 5.3% (−86K) | $204.62 | $259.91 (+27%) | 2026-03-31 |
| ELV Elevance Health, Inc. | 7.3% | 1.3M | $373M | — | $434.96 | $394.82 (−9%) | 2026-03-31 |
| GOOG Alphabet Inc. Class C Capital Stock | 6.6% | 1.2M | $339M | ▲ 8.6% (+94K) | $104.00 | $348.78 (+235%) | 2026-03-31 |
| FERG Ferguson Enterprises Inc. | 6.6% | 1.4M | $336M | ▲ 27% (+305K) | $173.57 | $237.28 (+37%) | 2026-03-31 |
| WTW Willis Towers Watson Public Limited Company Ordinary Shares | 5.1% | 893K | $260M | ▼ 34% (−464K) | $232.38 | $252.97 (+9%) | 2026-03-31 |
| AON Aon plc Class A | 4.8% | 769K | $248M | NEW (+769K) | $322.78 | $313.63 (−3%) | 2026-03-31 |
| V VISA Inc. | 4.1% | 701K | $212M | NEW (+701K) | $302.24 | $326.60 (+8%) | 2026-03-31 |
| TFX Teleflex Incorporated | 3.7% | 1.6M | $191M | NEW (+1.6M) | $119.61 | $121.67 (+2%) | 2026-03-31 |
| EXP Eagle Materials, Inc. | 3.3% | 893K | $169M | ▼ 25% (−292K) | $271.75 | $223.50 (−18%) | 2026-03-31 |
| GPC Genuine Parts Company | 3.1% | 1.5M | $158M | — | $116.76 | $105.11 (−10%) | 2026-03-31 |
| LBTYK Liberty Global Ltd. Class C Common Shares | 3.1% | 13.4M | $157M | ▼ 36% (−7.5M) | $18.64 | $10.60 (−43%) | 2026-03-31 |
| HLF Herbalife Ltd. | 2.7% | 9.3M | $136M | — | $16.10 | $12.13 (−25%) | 2026-03-31 |
| GDS Gds Hldgs Ltd | 2.4% | 3.0M | $123M | — | $6.65 | $31.71 (+377%) | 2026-03-31 |
| COLD Americold Realty Trust, Inc. | 1.7% | 7.8M | $89M | ▲ 124% (+4.3M) | $12.24 | $13.97 (+14%) | 2026-03-31 |
| MOH Molina Healthcare, Inc. | 1.6% | 634K | $84M | ▲ 1.4% (+9K) | $173.54 | $197.42 (+14%) | 2026-03-31 |
| AERO Grupo Aeromexico Sab De Cv | 1.3% | 4.9M | $68M | ▲ 0.5% (+25K) | $21.96 | $17.39 (−21%) | 2026-03-31 |
| NCLH Norwegian Cruise Line Holdings Ltd. Ordinary Shares | 1.3% | 3.6M | $68M | NEW (+3.6M) | $18.70 | $20.04 (+7%) | 2026-03-31 |
| PCVX Vaxcyte, Inc. Common Stock | 0.9% | 800K | $46M | NEW (+800K) | $58.11 | $52.11 (−10%) | 2026-03-31 |
| DNOW DNOW Inc. | 0.8% | 3.6M | $43M | NEW (+3.6M) | $11.91 | $13.71 (+15%) | 2026-03-31 |
FAQ ▾
What are Seth Klarman's largest holdings?
As of the latest 13F: Amazon.Com Inc 12.7%, Restaurant Brands International Inc. 11.7%, Wesco International Inc. 7.7%, Union Pacific Corp. 7.3%, Elevance Health, Inc. 7.3%.
How big is Baupost Group's 13F portfolio?
$5.1B across 22 disclosed U.S.-equity positions.
What is Seth Klarman's 3-year performance?
+28% (13F-replication, price return), -44 pts vs the S&P 500. Not an audited fund return.
Where does this data come from?
U.S. SEC Form 13F-HR institutional holdings filings.
Sourced from SEC Form 13F-HR filings · Not investment advice ▾
Latest activity = change vs. the prior 13F. Avg buy price = est. entry over the trailing 3 years (gain = vs. latest price). Returns are 13F-replication, not audited fund returns. Sourced from SEC 13F filings.