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Seth Klarman’s Union Pacific UNP Stock Holding History

Seth Klarman’s Portfolio UNP Stock Details UNP Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q2 		$322M Sell
1,185,395
-355,600
-23% -$93.4M 5.95% 7
2026
Q1 		$374M Sell
1,540,995
-86,259
-5% -$21.1M 7.31% 4
2025
Q4 		$376M Buy
1,627,254
+131,050
+9% +$29.9M 7.13% 5
2025
Q3 		$354M Buy
+1,496,204
New +$337M 7.38% 6
2023
Q3 		– Sell
-175,000
Closed -$35.8M – 34
2023
Q2 		$35.8M Buy
+175,000
New +$34.8M 0.64% 21

Other funds holding UNP

BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Vanguard Capital Management
Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
Capital World Investors
Capital World Investors Los Angeles, California $846B AUM 46.74% 1-Year Est. Return
Capital Research Global Investors
Capital Research Global Investors Los Angeles, California $717B AUM 35.42% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return
JP Morgan Chase
JP Morgan Chase New York $1.81T AUM 41.13% 1-Year Est. Return
Morgan Stanley
Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return
Bank of America
Bank of America Charlotte, North Carolina $1.55T AUM 33.47% 1-Year Est. Return
Vanguard Portfolio Management
Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM

Seth Klarman's UNP Position: Q2 2026 in Review

Seth Klarman reduced its Union Pacific (UNP) stake by 23% in Q2 2026, selling an estimated $93.4M and leaving 1,185,395 shares worth $322M. The position accounts for 5.95% of the portfolio, ranked #7.

Seth Klarman first reported a position in UNP in Q2 2023 and has held it in 5 quarters since. The position peaked at $376M in Q4 2025. 2,872 funds tracked by Wall St. Rank hold UNP as of Q2 2026.

  • Seth Klarman held 1,185,395 shares of Union Pacific worth $322M as of Q2 2026.
  • Seth Klarman sold 355,600 Union Pacific shares in Q2 2026, an estimated $93.4M.
  • Union Pacific made up 5.95% of Seth Klarman's portfolio in Q2 2026, its #7 holding.
  • Seth Klarman first reported a position in Union Pacific in Q2 2023 and has held it in 5 quarters since.
  • Seth Klarman's Union Pacific position peaked at $376M in Q4 2025.
  • 2,872 funds tracked by Wall St. Rank held Union Pacific as of Q2 2026.

Based on Baupost Group's 13F filing for Q2 2026, filed 13 Aug 2026.