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Seth Klarman Baupost Group

AUM $5.42B
1-Year Est. Return 22.93%
 

Seth Klarman is the founder and CEO of the Baupost Group, one of the most respected value-oriented investment firms. He is the author of Margin of Safety and is known for patient, opportunistic capital allocation across equities, credit, and special situations. Klarman’s approach emphasizes downside protection, cash when opportunities are scarce, and independent thinking when markets become crowded.

This Fund
S&P 500
This Quarter Est. Return
+13.46%
1 Year Est. Return
+22.93%
3 Year Est. Return
+47.86%
5 Year Est. Return
+25.7%
10 Year Est. Return
+163.46%
AUM
$5.42B
AUM Growth
+$300M
Cap. Flow
-$275M
Cap. Flow %
-5.09%
Top 10 Hldgs %
74.9%
Holding
25
New
3
Increased
6
Reduced
9
Closed
2

Top Buys

Rank Stock Value
1
CME icon
CME Group
CME
+$171M
2
AMZN icon
Amazon
AMZN
+$157M
3
GPC icon
Genuine Parts
GPC
+$138M
4
NCLH icon
Norwegian Cruise Line
NCLH
+$76.5M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$68.2M

Top Sells

Rank Stock Value
1
WCC
WESCO International
WCC
+$263M
2
WTW icon
Willis Towers Watson
WTW
+$260M
3
QSR icon
Restaurant Brands International
QSR
+$101M
4
UNP icon
Union Pacific
UNP
+$93.4M
5
EXP icon
Eagle Materials
EXP
+$75.7M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 34.66%
2 Industrials 18.83%
3 Healthcare 15.08%
4 Financials 11.41%
5 Communication Services 10.69%

No holdings matched the selected filter criteria.

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Seth Klarman's Q2 2026 Portfolio in Review

As of Q2 2026, Seth Klarman held 25 positions worth $5.42B, up 5.9% from $5.12B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Seth Klarman withdrew a net $275M in Q2 2026, closing 2 positions and reducing 9 holdings. Its most notable exit was Willis Towers Watson, an estimated $260M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 29% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Seth Klarman opened a new position in CME Group worth $137M.

  • Seth Klarman's largest Q2 2026 buy was CME Group: 619,000 shares worth $137M.
  • Seth Klarman added most to Amazon in Q2 2026, an estimated $157M increase.
  • Seth Klarman's biggest Q2 2026 reduction was WESCO International, cutting an estimated $263M.
  • Seth Klarman fully exited Willis Towers Watson in Q2 2026, selling an estimated $260M.
  • Seth Klarman's ten largest holdings make up 75% of its $5.42B portfolio in Q2 2026.
  • Seth Klarman opened 3 new positions and closed 2 in Q2 2026.
  • Seth Klarman's portfolio value rose 5.9% quarter-over-quarter to $5.42B.

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