Seth Klarman, Baupost Group
Portfolio USD 5,415,853,000 across 23 positions as of 2026 Q2; history from 2008 Q1. Source: quarterly 13F filings via dataroma.com.
Positions, 2026 Q2
- AMZN Amazon.com Inc.: 17% of portfolio, USD 892,310,000, add +20.04%
- ELV Elevance Health Inc.: 9.1% of portfolio, USD 493,140,000, hold
- QSR Restaurant Brands International: 9.0% of portfolio, USD 489,612,000, reduce -16.42%
- GOOG Alphabet Inc. CL C: 9.0% of portfolio, USD 484,744,000, add +16.15%
- FERG Ferguson Enterprises Inc.: 6.4% of portfolio, USD 344,269,000, add +0.57%
- GPC Genuine Parts: 6.1% of portfolio, USD 332,253,000, add +88.96%
- UNP Union Pacific: 6.0% of portfolio, USD 322,427,000, reduce -23.08%
- V Visa Inc.: 4.4% of portfolio, USD 240,628,000, hold
- WCC WESCO International Inc.: 4.2% of portfolio, USD 228,979,000, reduce -53.87%
- AON Aon Plc: 4.2% of portfolio, USD 227,871,000, reduce -10.66%
- TFX Teleflex: 3.3% of portfolio, USD 178,605,000, reduce -11.66%
- NCLH Norwegian Cruise Line Hlgs Ltd.: 3.0% of portfolio, USD 163,180,000, add +112.95%
- MOH Molina Healthcare Inc.: 2.7% of portfolio, USD 144,906,000, hold
- CME CME Group: 2.5% of portfolio, USD 136,694,000, new
- HLF Herbalife Nutrition Ltd.: 2.3% of portfolio, USD 121,767,000, hold
- EXP Eagle Materials Inc.: 2.2% of portfolio, USD 119,422,000, reduce -40.55%
- GDS GDS Holdings Ltd: 2.1% of portfolio, USD 113,208,000, add +23.81%
- COLD Americold Realty Trust: 2.0% of portfolio, USD 107,371,000, reduce -12.22%
- LBTYK Liberty Global Ltd CL C: 1.7% of portfolio, USD 93,975,000, reduce -36.23%
- AERO Grupo Aeromexico Sab De Cv: 1.6% of portfolio, USD 87,843,000, hold
- AXTA Axalta Coating Systems Ltd.: 0.8% of portfolio, USD 43,608,000, new
- DNOW NOW Inc.: 0.7% of portfolio, USD 36,160,000, reduce -23.09%
- PS Pershing Square Inc.: 0.2% of portfolio, USD 12,881,000, new
Portfolio value, all published quarters
- 2008 Q1: USD 1,636,232,293
- 2008 Q2: USD 1,981,543,423
- 2008 Q3: USD 1,633,898,095
- 2008 Q4: USD 1,108,251,715
- 2009 Q1: USD 1,009,935,536
- 2009 Q2: USD 1,033,882,506
- 2009 Q3: USD 1,132,998,741
- 2009 Q4: USD 1,354,484,652
- 2010 Q1: USD 1,635,075,420
- 2010 Q2: USD 1,333,271,046
- 2010 Q3: USD 1,606,757,589
- 2010 Q4: USD 1,678,176,358
- 2011 Q1: USD 1,710,044,086
- 2011 Q2: USD 2,353,611,495
- 2011 Q3: USD 2,966,404,521
- 2011 Q4: USD 3,281,208,541
- 2012 Q1: USD 2,904,772,282
- 2012 Q2: USD 3,782,642,136
- 2012 Q3: USD 3,256,124,027
- 2012 Q4: USD 2,988,261,362
- 2013 Q1: USD 2,934,517,433
- 2013 Q2: USD 3,841,840,688
- 2013 Q3: USD 3,397,929,135
- 2013 Q4: USD 3,448,197,929
- 2014 Q1: USD 4,057,171,624
- 2014 Q2: USD 6,044,670,185
- 2014 Q3: USD 5,589,097,635
- 2014 Q4: USD 4,948,684,900
- 2015 Q1: USD 5,807,199,996
- 2015 Q2: USD 5,920,762,700
- 2015 Q3: USD 5,942,070,577
- 2015 Q4: USD 5,447,535,156
- 2016 Q1: USD 6,864,422,596
- 2016 Q2: USD 7,328,142,976
- 2016 Q3: USD 6,994,070,311
- 2016 Q4: USD 7,596,603,893
- 2017 Q1: USD 8,433,043,233
- 2017 Q2: USD 8,696,942,130
- 2017 Q3: USD 7,986,067,280
- 2017 Q4: USD 10,081,158,270
- 2018 Q1: USD 10,290,175,277
- 2018 Q2: USD 11,103,179,899
- 2018 Q3: USD 12,714,878,050
- 2018 Q4: USD 11,128,197,096
- 2019 Q1: USD 11,542,654,565
- 2019 Q2: USD 10,728,202,565
- 2019 Q3: USD 8,498,440,735
- 2019 Q4: USD 8,603,295,103
- 2020 Q1: USD 6,745,723,642
- 2020 Q2: USD 7,983,390,242
- 2020 Q3: USD 9,224,292,301
- 2020 Q4: USD 10,805,526,734
- 2021 Q1: USD 12,529,712,375
- 2021 Q2: USD 12,299,115,026
- 2021 Q3: USD 10,638,574,723
- 2021 Q4: USD 9,884,923,637
- 2022 Q1: USD 9,062,604,598
- 2022 Q2: USD 6,534,905,116
- 2022 Q3: USD 5,611,869,844
- 2022 Q4: USD 5,890,745,732
- 2023 Q1: USD 5,594,170,859
- 2023 Q2: USD 5,530,716,773
- 2023 Q3: USD 5,142,447,640
- 2023 Q4: USD 4,585,038,081
- 2024 Q1: USD 3,548,224,773
- 2024 Q2: USD 3,530,126,548
- 2024 Q3: USD 3,503,743,622
- 2024 Q4: USD 3,421,078,955
- 2025 Q1: USD 3,480,880,941
- 2025 Q2: USD 4,114,010,168
- 2025 Q3: USD 4,762,427,585
- 2025 Q4: USD 5,278,572,183
- 2026 Q1: USD 5,115,372,767
- 2026 Q2: USD 5,415,853,000