Seth Klarman
The Baupost Group, LLC
Author of "Margin of Safety," Seth Klarman runs Baupost Group with a strict value discipline centered on capital preservation over chasing returns.
Portfolio as of March 31, 2026
| Company ↕ | Value ↓ | % ↕ | ||
|---|---|---|---|---|
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Quarterly moves
Q4 2025 → Q1 2026
Amount invested · % of portfolio
- AON PLC $248M · 4.9%
- VISA INC $212M · 4.1%
- TELEFLEX INCORPORATED $191M · 3.7%
- NORWEGIAN CRUISE LINE HLDGS $68M · 1.3%
- VAXCYTE INC $46M · 0.9%
- DNOW INC $43M · 0.8%
Amount bought · (±%) · % of portfolio
- AMAZON COM INC $208M (+47%) · 12.7%
- WESCO INTL INC $5M (+1.3%) · 7.7%
- ELEVANCE HEALTH INC FORMERLY $2M (+0.5%) · 7.3%
- ALPHABET INC $27M (+8.6%) · 6.6%
- FERGUSON ENTERPRISES INC $71M (+26.9%) · 6.6%
- GENUINE PARTS CO $450K (+0.3%) · 3.1%
- AMERICOLD REALTY TRUST INC $49M (+123.9%) · 1.7%
- MOLINA HEALTHCARE INC $1M (+1.4%) · 1.7%
Amount sold · (±%) · % of portfolio
- UNION PAC CORP $20M (-5.3%) · 7.3%
- WILLIS TOWERS WATSON PLC LTD $153M (-34.2%) · 5.1%
- EAGLE MATLS INC $60M (-24.7%) · 3.3%
- LIBERTY GLOBAL LTD $83M (-35.9%) · 3.1%
- FIDELITY NATL INFORMATION SV $299M
- DOLLAR GEN CORP NEW $274M
- FISERV INC $148M
- CRH PLC $134M
- LIBERTY GLOBAL LTD $23M
- TAMBORAN RES CORP $7M
Portfolio value over time
Top 10 holdings evolution as of March 31, 2026
Share of portfolio (%) since inception, top 10 as of the selected quarter.
Sector breakdown
Based on holdings matched to a stock referenced on the site.
Dividend aristocrats held
Stocks with at least 25 consecutive years of dividend growth.
No matching holding among stocks referenced on the site.
Frequently asked questions
What are Seth Klarman's top holdings?
As of March 31, 2026, the top three holdings of The Baupost Group, LLC are AMAZON COM INC, RESTAURANT BRANDS INTL INC, WESCO INTL INC.
How many positions does Seth Klarman hold?
The Baupost Group, LLC reports 22 equity positions worth $5.1B as of March 31, 2026.
Does Seth Klarman invest in dividend stocks?
The weighted dividend yield of the covered portion of the portfolio is approximately 1.7%.
Data sourced from 13F filings submitted to the SEC, published with roughly 45 days of lag. A 13F only covers long positions in U.S.-traded securities: it excludes short sales, non-U.S. holdings and cash. Provided for informational purposes only and does not constitute investment advice.