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.
As of June 30, 2026, the Seth Klarman portfolio (The Baupost Group, LLC) holds 23 equity positions worth $5M. That is down 99.9% from $5.1B in Q1 2026. Over the quarter, the fund opened 3 new positions, exited 2, increased 6 and trimmed 9 (full breakdown below).
Portfolio as of June 30, 2026
| Company ↕ | Value ↓ | % ↕ | ||
|---|---|---|---|---|
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Quarterly moves
Q1 2026 → Q2 2026
Portfolio value went from $5.1B to $5M (-99.9%) quarter over quarter.
Amount invested · % of portfolio
- CME GROUP INC $137K · 2.5%
- AXALTA COATING SYS LTD $44K · 0.8%
- PERSHING SQUARE INC $13K · 0.2%
Amount bought · (±%) · % of portfolio
- AMAZON COM INC $149K (+20%) · 16.5%
- ALPHABET INC $67K (+16.2%) · 9.0%
- FERGUSON ENTERPRISES INC $2K (+0.6%) · 6.4%
- GENUINE PARTS CO $156K (+89%) · 6.1%
- NORWEGIAN CRUISE LINE HLDGS $87K (+112.9%) · 3.0%
- GDS HLDGS LTD $22K (+23.8%) · 2.1%
Amount sold · (±%) · % of portfolio
- RESTAURANT BRANDS INTL INC $98M (-16.4%) · 9.0%
- UNION PAC CORP $86M (-23.1%) · 6.0%
- WESCO INTL INC $212M (-53.9%) · 4.2%
- AON PLC $26M (-10.7%) · 4.2%
- TELEFLEX INCORPORATED $22M (-11.7%) · 3.3%
- EAGLE MATLS INC $69M (-40.5%) · 2.2%
- AMERICOLD REALTY TRUST INC $11M (-12.2%) · 2.0%
- LIBERTY GLOBAL LTD $57M (-36.2%) · 1.7%
- WILLIS TOWERS WATSON PLC LTD $260M
- VAXCYTE INC $46M
Portfolio value over time
Top 10 holdings evolution as of June 30, 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 June 30, 2026, the top three holdings of The Baupost Group, LLC are AMAZON COM INC, ELEVANCE HEALTH INC FORMERLY, RESTAURANT BRANDS INTL INC.
How many positions does Seth Klarman hold?
The Baupost Group, LLC reports 23 equity positions worth $5M as of June 30, 2026.
Does Seth Klarman invest in dividend stocks?
The weighted dividend yield of the covered portion of the portfolio is approximately 1.6%.
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.