Seth Klarman's 2026Q1 portfolio

Seth Klarman (Baupost Group) held 22 positions as of Mar 31, 2026, with the largest position at 12.7% of the portfolio. This is the latest 13F filing on record.

Showing positions still held at the most recent quarter so their historical weights can be reconstructed. Positions that were held in 2026Q1but have since been exited aren't included in this table — for a full point-in-time reconstruction, use the SEC EDGAR filing directly.

Holdings as of Mar 31, 2026 (22)

1AMZNAmazon.com Inc
% port
12.7%
+3.4pp vs prior Q
2QSRRestaurant Brands Intern
% port
11.7%
+1.2pp vs prior Q
3WCCWesco International Inc
% port
7.7%
+1.1pp vs prior Q
4UNPUnion Pacific Corp
% port
7.3%
+0.2pp vs prior Q
5ELVElevance Health Inc
% port
7.3%
-1.1pp vs prior Q
6GOOGAlphabet Inc-cl C
% port
6.6%
+0.2pp vs prior Q
7FERGFerguson Enterprises Inc
% port
6.6%
+1.8pp vs prior Q
8WTWWillis Towers Watson Plc Ltd
% port
5.1%
-3.4pp vs prior Q
9AONAon Plc
% port
4.9%
10VVisa Inc-class A Shares
% port
4.1%
11TFXTeleflex Inc
% port
3.7%
12EXPEagle Materials Inc
% port
3.3%
-1.3pp vs prior Q
13GPCGenuine Parts CO
% port
3.1%
-0.4pp vs prior Q
14LBTYALiberty Global Ltd
% port
3.1%
-1.3pp vs prior Q
15HLFHerbalife Ltd
% port
2.7%
+0.4pp vs prior Q
16GDSGds Holdings Ltd - Adr
% port
2.4%
+0.4pp vs prior Q
17COLDAmericold Realty Trust Inc
% port
1.7%
+0.9pp vs prior Q
18MOHMolina Healthcare Inc
% port
1.7%
-0.4pp vs prior Q
19AEROGrupo Aeromexico Sab DE CV
% port
1.3%
-0.7pp vs prior Q
20NCLHNorwegian Cruise Line Hldgs
% port
1.3%
21PCVXVaxcyte Inc
% port
0.9%
22DNOWDnow Inc
% port
0.8%

13F-HR filings disclose long US-equity positions only. 13Fs don't cover shorts, bonds, derivatives, or non-US listings, so the picture here is the public part of the portfolio — not the whole.

Not investment advice.