Seth Klarman Baupost Group
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$179M |
| 2 |
Fidelity National Information Services
FIS
|
+$175M |
| 3 |
Skyworks Solutions
SWKS
|
+$78M |
| 4 |
Jazz Pharmaceuticals
JAZZ
|
+$70.8M |
| 5 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$40.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$208M |
| 2 |
Micron Technology
MU
|
+$164M |
| 3 |
FISV
Fiserv Inc
FISV
|
+$162M |
| 4 |
Qorvo
QRVO
|
+$110M |
| 5 |
Willis Towers Watson
WTW
|
+$102M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 48.04% |
| 2 | Technology | 27.77% |
| 3 | Industrials | 7.68% |
| 4 | Consumer Staples | 4.12% |
| 5 | Financials | 3.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
DigitalBridge
DBRG
$2.95B
| $14.8M | 0.25% |
1,233,914
-1,967,799
| -61% | -$24.7M |
|
27
Seagate
STX
$193B
| $9M | 0.15% |
+136,077
| New | +$8.66M |
|
|
TMQ
28
Trilogy Metals
TMQ
$684M
| $2.28M | 0.04% |
4,271,542
-3,718,939
| -47% | -$2.19M |
|
|
FNCH
29
DELISTED
Finch Therapeutics Group, Inc. Common Stock
FNCH
| $793K | 0.01% |
67,300
+33,333
| +98% | +$442K |
|
30
Amazon
AMZN
$2.79T
| – | – |
-990,000
| Closed | -$83.2M |
|
|
31
Meta Platforms (Facebook)
META
$1.4T
| – | – |
-1,727,851
| Closed | -$208M |
|
|
32
Micron Technology
MU
$1.09T
| – | – |
-3,285,974
| Closed | -$164M |
|
33
Nuvation Bio
NUVB
$2.43B
| – | – |
-4,808,194
| Closed | -$9.23M |
|
|
TEAD
34
Teads Holding Co
TEAD
$65.3M
| – | – |
-153,231
| Closed | -$555K |
|
|
HZON.U
35
DELISTED
Horizon Acquisition Corporation II Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
HZON.U
| $0 | ﹤0.01% |
2
| – | – |
|
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Seth Klarman's Q1 2023 Portfolio in Review
As of Q1 2023, Seth Klarman held 36 positions worth $5.85B, down 4.6% from $6.13B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Seth Klarman withdrew a net $481M in Q1 2023, closing 5 positions and reducing 11 holdings. Its most notable exit was Meta Platforms (Facebook), an estimated $208M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 48% of assets, up from 46% a quarter earlier, followed by Technology and Industrials.
Against the trend, Seth Klarman opened a new position in Skyworks Solutions worth $83M.
- Seth Klarman's largest Q1 2023 buy was Skyworks Solutions: 703,865 shares worth $83M.
- Seth Klarman added most to Alphabet (Google) Class C in Q1 2023, an estimated $179M increase.
- Seth Klarman's biggest Q1 2023 reduction was Fiserv Inc, cutting an estimated $162M.
- Seth Klarman fully exited Meta Platforms (Facebook) in Q1 2023, selling an estimated $208M.
- Seth Klarman's ten largest holdings make up 78% of its $5.85B portfolio in Q1 2023.
- Seth Klarman opened 3 new positions and closed 5 in Q1 2023.
- Seth Klarman's portfolio value fell 4.6% quarter-over-quarter to $5.85B.
Based on Baupost Group's 13F filing for Q1 2023, filed 12 May 2023.