Seth Klarman portfolio
Baupost Group · 13F for Q2 2026, filed Aug 13, 2026
Baupost Group, Seth Klarman's firm, reported 23 positions worth $5.4B as of Jun 30, 2026. The largest were Amazon.com, Inc. (16.5%), Elevance Health, Inc. (9.1%) and Restaurant Brands International Inc. (9.0%). Against Q1 2026: 3 new, 6 added to, 9 reduced, 2 sold out.
The filing on sec.gov · Every fund · What a 13F shows
- Reported value
- $5.4Bas of Jun 30
- Positions
- 233 new, 2 sold out
- Largest position
- AMZN16.5% of the portfolio
- Top 10 positions
- 75%of reported value
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What Seth Klarman bought
Largest 8 of 9| Position | Change | Value |
|---|---|---|
| GPCGenuine Parts Co | +89.0% | $156M |
| AMZNAmazon.com, Inc. | +20.0% | $149M |
| CMECME Group Inc. | New | $137M |
| NCLHNorwegian Cruise Line Holdings Ltd. | +113.0% | $86.6M |
| GOOGAlphabet Inc. | +16.1% | $67.4M |
| AXTAAxalta Coating Systems Ltd. | New | $43.6M |
| GDSGDS Holdings Ltd | +23.8% | $21.8M |
| Pershing Square Inc | New | $12.9M |
GPCGenuine Parts Co
AMZNAmazon.com, Inc.
CMECME Group Inc.
GOOGAlphabet Inc.
AXTAAxalta Coating Systems Ltd.What Seth Klarman sold
Largest 8 of 11| Position | Change | Value |
|---|---|---|
| WCCWesco International Inc | −53.9% | $267M |
| WTWWillis Towers Watson Plc | Sold out | $260M |
| UNPUnion Pacific Corp | −23.1% | $96.7M |
| QSRRestaurant Brands International Inc. | −16.4% | $96.2M |
| EXPEagle Materials Inc | −40.5% | $81.5M |
| LBTYKLiberty Global Ltd. | −36.2% | $53.4M |
| PCVXVaxcyte, Inc. | Sold out | $46.5M |
| AONAON plc | −10.7% | $27.2M |
WCCWesco International Inc
UNPUnion Pacific Corp
QSRRestaurant Brands International Inc.
EXPEagle Materials Inc
LBTYKLiberty Global Ltd.
PCVXVaxcyte, Inc.
AONAON plcEvery position, largest first
23 positions, Q2 2026| Position | Portfolio | Value | Change |
|---|---|---|---|
| AMZNAmazon.com, Inc. | 16.5% | $892M | +20.0% |
| ELVElevance Health, Inc. | 9.11% | $493M | No change |
| QSRRestaurant Brands International Inc. | 9.04% | $490M | −16.4% |
| GOOGAlphabet Inc. | 8.95% | $485M | +16.1% |
| FERGFerguson Enterprises Inc. | 6.36% | $344M | +0.6% |
| GPCGenuine Parts Co | 6.13% | $332M | +89.0% |
| UNPUnion Pacific Corp | 5.95% | $322M | −23.1% |
| VVisa Inc. | 4.44% | $241M | No change |
| WCCWesco International Inc | 4.23% | $229M | −53.9% |
| AONAON plc | 4.21% | $228M | −10.7% |
| TFXTeleflex Inc | 3.30% | $179M | −11.7% |
| NCLHNorwegian Cruise Line Holdings Ltd. | 3.01% | $163M | +113.0% |
| MOHMolina Healthcare, Inc. | 2.68% | $145M | No change |
| CMECME Group Inc. | 2.52% | $137M | New |
| HLFHerbalife Ltd. | 2.25% | $122M | No change |
| EXPEagle Materials Inc | 2.21% | $119M | −40.5% |
| GDSGDS Holdings Ltd | 2.09% | $113M | +23.8% |
| COLDAmericold Realty Trust | 1.98% | $107M | −12.2% |
| LBTYKLiberty Global Ltd. | 1.74% | $94.0M | −36.2% |
| AEROGrupo Aeromexico, S.A.B. de C.V. | 1.62% | $87.8M | No change |
| AXTAAxalta Coating Systems Ltd. | 0.81% | $43.6M | New |
| DNOWDNOW Inc. | 0.67% | $36.2M | −23.1% |
| Pershing Square Inc | 0.24% | $12.9M | New |
FERGFerguson Enterprises Inc.
VVisa Inc.
TFXTeleflex Inc
COLDAmericold Realty Trust
DNOWDNOW Inc.What a 13F shows
This is Baupost Group’s Form 13F for the quarter ended Jun 30, 2026, filed with the SEC on Aug 13, 2026 as BAUPOST GROUP LLC/MA. A 13F lists long positions in US-listed securities on the quarter’s last day: shares, convertible bonds, puts and calls. It does not list short positions, cash, private holdings or most securities listed abroad, and a position may have changed since.
Options are shown as options, never added to the shares of the stock they are written on. A change is the share count against the fund's filing for Q1 2026; the estimated value of a change uses the price the filing's own figures imply. Where a count moved with a stock split, no change is shown. This filer reports its values in thousands of dollars; they are shown in dollars.