What did Seth Klarman buy in Q4 2025?

Seth Klarman opened 3 new positions (AMZN, MOH, AERO) and added to 3 existing holdings in the Q4 2025 13F.

What did Seth Klarman sell in Q4 2025?

Seth Klarman exited 2 positions (HLF 4.25 06/15/28, CABO 1.125 03/15/28) and trimmed 4.

What Seth Klarman bought and sold in Q4 2025

In Q4 2025, Seth Klarman (Baupost Group) opened 3 new positions — including AMZN (9.3%), MOH (2.1%), AERO (2.0%), added to 3, trimmed 4, exited 2 (HLF 4.25 06/15/28, CABO 1.125 03/15/28). The book stood at $5.28B across 22 positions, filed Feb 13, 2026.

3New3Added4Trimmed2Exited

Share𝕏 in

New positions (3)

Added to (3)

Trimmed (4)

GOOGAlphabet Inc-cl C-41% shares · 6.5% · $341M
DGDollar General Corp-23% shares · 5.2% · $274M
CRHCrh Plc-68% shares · 2.5% · $134M
TBNTamboran Resources Corp-55% shares · 0.1% · $7M

Exited (2)

HLF 4.25 06/15/28Herbalife Ltdwas 0.3% of book
CABO 1.125 03/15/28Cable One Incwas 0.3% of book

Seth Klarman's other filings

Q2 2026 changes Q1 2026 changes Q3 2025 changes Q2 2025 changes Q1 2025 changes

Seth Klarman's full portfolio →The whole cohort in Q4 2025 →

Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.