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SK

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
-5.76%
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
$9.3B
AUM Growth
-$826M
Cap. Flow
-$126M
Cap. Flow %
-1.35%
Top 10 Hldgs %
69.73%
Holding
57
New
3
Increased
9
Reduced
29
Closed
2

Top Buys

Rank Stock Value
1
EHC icon
Encompass Health
EHC
+$150M
2
FISV
Fiserv Inc
FISV
+$95M
3
QRVO icon
Qorvo
QRVO
+$94.7M
4
DBX icon
Dropbox
DBX
+$57.7M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$42.6M

Top Sells

Rank Stock Value
1
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
+$188M
2
GEN icon
Gen Digital
GEN
+$150M
3
NXST icon
Nexstar Media Group
NXST
+$98.1M
4
VRNT
Verint Systems
VRNT
+$79.5M
5
INTC icon
Intel
INTC
+$71.6M

Sector Composition

Rank Sector Weight
1 Technology 40.75%
2 Communication Services 38.55%
3 Financials 5.88%
4 Healthcare 5.33%
5 Industrials 5.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AVAN
26
DELISTED
Avanti Acquisition Corp.
AVAN
$39.4M 0.42%
4,000,000
– –
IS
27
DELISTED
ironSource Ltd.
IS
$38.1M 0.41%
7,936,988
+3,936,988
+98% +$24M
LMACA
28
DELISTED
Liberty Media Acquisition Corporation Series A Common Stock
LMACA
$31.3M 0.34%
3,156,598
-43,402
-1% -$437K
GTN icon
29
Gray Television
GTN
$509M
$28.5M 0.31%
+1,290,916
New +$28.5M
POST icon
30
Post Holdings
POST
$3.65B
$26.2M 0.28%
+378,284
New +$26.5M
GTX icon
31
Garrett Motion
GTX
$4.96B
$25.7M 0.28%
3,575,000
– –
AGCB
32
DELISTED
Altimeter Growth Corp 2
AGCB
$24.3M 0.26%
2,473,180
-26,820
-1% -$262K
GRAB icon
33
Grab
GRAB
$14.2B
$20.4M 0.22%
6,105,101
-297,120
-5% -$1.5M
DGNU
34
DELISTED
Dragoneer Growth Opportunities Corp. III Class A Ordinary Shares
DGNU
$19.3M 0.21%
1,964,288
-35,712
-2% -$348K
CGEM icon
35
Cullinan Oncology
CGEM
$1.4B
$16.1M 0.17%
1,535,560
– –
JOBY icon
36
Joby Aviation
JOBY
$7.45B
$13M 0.14%
1,967,244
-7,653,549
-80% -$39.5M
TMQ
37
Trilogy Metals
TMQ
$684M
$11.7M 0.13%
11,125,566
-582,981
-5% -$773K
BRBR icon
38
BellRing Brands
BRBR
$1.18B
$11.1M 0.12%
+479,583
New +$12M
SVFA
39
DELISTED
SVF Investment Corp. Class A Ordinary Shares
SVFA
$9.7M 0.1%
989,267
-10,733
-1% -$105K
TEAD
40
Teads Holding Co
TEAD
$65.3M
$8.5M 0.09%
792,000
– –
FNCH
41
DELISTED
Finch Therapeutics Group, Inc. Common Stock
FNCH
$5.65M 0.06%
37,437
-305
-0.8% -$70.4K
NE icon
42
Noble Corp
NE
$7.39B
$3.46M 0.04%
104,928
– –
PSTH.WS
43
DELISTED
Pershing Square Tontine Holdings, Ltd. Warrants, exercisable for one share of Class A Common Stock f
PSTH.WS
$1.78M 0.02%
1,898,711
-45,733
-2% -$55.7K
ZGN.WS
44
DELISTED
Ermenegildo Zegna N.V. Warrants, each whole warrant exercisable for one Ordinary Share at an exercise price of $11.50 per share
ZGN.WS
$1.56M 0.02%
698,199
-1,801
-0.3% -$3.68K
JOBY.WS
45
DELISTED
Joby Aviation Warrants
JOBY.WS
$1.43M 0.02%
867,896
-7,104
-0.8% -$8.21K
RBAC.WS
46
DELISTED
RedBall Acquisition Corp. Redeemable warrants, each whole warrant exercisable for one Class A ordina
RBAC.WS
$1.39M 0.02%
1,636,173
-13,827
-0.8% -$11K
EVTL.WS
47
DELISTED
Vertical Aerospace Ltd. Warrants, each whole warrant exercisable for 1/10th of an ordinary share at an exercise price of $115.00 per share
EVTL.WS
$1.15M 0.01%
1,462,477
-22,523
-2% -$17.4K
AUROW
48
Aurora Innovation Warrant
AUROW
$246M
$1.09M 0.01%
736,550
-13,450
-2% -$17.7K
HZON.WS
49
DELISTED
Horizon Acquisition Corporation II Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
HZON.WS
$770K 0.01%
1,166,666
– –
AVAN.WS
50
DELISTED
Avanti Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
AVAN.WS
$520K 0.01%
2,000,000
– –
1
2
3

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Seth Klarman's Q1 2022 Portfolio in Review

As of Q1 2022, Seth Klarman held 57 positions worth $9.3B, down 8.2% from $10.1B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Seth Klarman's Q1 2022 filing shows 3 new, 9 increased, 29 reduced and 2 closed positions. Its largest new stake was Gray Television: 1,290,916 shares worth $28.5M. The largest sale was Pershing Square Tontine Holdings, Ltd., an estimated $188M.

By sector, the portfolio is most concentrated in Technology at 41% of assets, down from 41% a quarter earlier, followed by Communication Services and Financials.

  • Seth Klarman's largest Q1 2022 buy was Gray Television: 1,290,916 shares worth $28.5M.
  • Seth Klarman added most to Encompass Health in Q1 2022, an estimated $150M increase.
  • Seth Klarman's biggest Q1 2022 reduction was Nexstar Media Group, cutting an estimated $98.1M.
  • Seth Klarman fully exited Pershing Square Tontine Holdings, Ltd. in Q1 2022, selling an estimated $188M.
  • Seth Klarman's ten largest holdings make up 70% of its $9.3B portfolio in Q1 2022.
  • Seth Klarman opened 3 new positions and closed 2 in Q1 2022.
  • Seth Klarman's portfolio value fell 8.2% quarter-over-quarter to $9.3B.

Based on Baupost Group's 13F filing for Q1 2022, filed 13 May 2022.