What did Seth Klarman actually do?

A source-backed history of material decisions from Baupost Group. We preserve the sequence and observed outcomes instead of compressing judgment into a guru grade.

Material decisions: 12
Stocks observed: 5
Outcomes observed: 12

Each outcome preserves the stock’s post-disclosure excess return over the fixed observation window. The evidence stays decision-level; it is not rolled into a manager score.

Observed decisions and outcomes

Q2 2026
filed Aug 13, 2026
44d lag
AMZNADD+20.0%
Seth Klarman · 16.5% of reported portfolio
Original SEC filing ↗
-3.6% vs SPY
35 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
AMZNADD+47.0%
Seth Klarman · 12.7% of reported portfolio
Original SEC filing ↗
-5.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
AONNEWNEW
Seth Klarman · 4.9% of reported portfolio
Original SEC filing ↗
+7.1% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 14, 2026
44d lag
VNEWNEW
Seth Klarman · 4.1% of reported portfolio
Original SEC filing ↗
+6.7% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 14, 2026
44d lag
FISVEXITEXIT
Seth Klarman · 2.8% of reported portfolio
Original SEC filing ↗
-7.0% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 13, 2026
44d lag
GOOGTRIM-41.5%
Seth Klarman · 9.4% of reported portfolio
Original SEC filing ↗
+21.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 13, 2026
44d lag
AMZNNEWNEW
Seth Klarman · 9.3% of reported portfolio
Original SEC filing ↗
+22.8% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 13, 2026
44d lag
FISVADD+145.8%
Seth Klarman · 2.8% of reported portfolio
Original SEC filing ↗
-21.3% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 13, 2025
44d lag
GOOGTRIM-29.5%
Seth Klarman · 11.3% of reported portfolio
Original SEC filing ↗
+7.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 13, 2025
44d lag
GOOGADD+26.8%
Seth Klarman · 11.3% of reported portfolio
Original SEC filing ↗
+37.1% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 14, 2025
44d lag
GOOGADD+45.7%
Seth Klarman · 9.3% of reported portfolio
Original SEC filing ↗
+13.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2024
filed Nov 13, 2024
44d lag
GOOGADD+37.0%
Seth Klarman · 7.0% of reported portfolio
Original SEC filing ↗
+1.5% vs SPY
63 sessions after disclosure
direction supported so far

Latticework Follow

Follow Seth Klarman

Email me only when a reviewed weekly edition contains a material new decision about Seth Klarman: a new position, exit, or a large share-count change that also clears the size threshold. There may be quiet weeks.

Confirm by email. Manage or stop follows in one click. See our privacy notice.

The evidence is limited to selected widely owned U.S.-listed securities in Form 13F filings. Filing dates can trail quarter end by up to 45 days in the normal reporting cycle, and the filings do not disclose transaction dates, prices, or intent.