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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
+2.32%
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
$3.65B
AUM Growth
-$934M
Cap. Flow
-$976M
Cap. Flow %
-26.75%
Top 10 Hldgs %
85.59%
Holding
29
New
5
Increased
3
Reduced
8
Closed
7

Top Buys

Rank Stock Value
1
EXP icon
Eagle Materials
EXP
+$61.9M
2
CLVT icon
Clarivate
CLVT
+$42.6M
3
WCC
WESCO International
WCC
+$34M
4
GDS icon
GDS Holdings
GDS
+$17.6M
5
FTRE icon
Fortrea Holdings
FTRE
+$10.5M

Top Sells

Rank Stock Value
1
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
+$315M
2
WBD icon
Warner Bros
WBD
+$207M
3
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
+$165M
4
TSEM icon
Tower Semiconductor
TSEM
+$82.7M
5
LLYVA icon
Liberty Live Group Series A
LLYVA
+$69.4M

Sector Composition

Rank Sector Weight
1 Communication Services 43.06%
2 Technology 25.64%
3 Financials 11.72%
4 Materials 8.35%
5 Healthcare 4.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SSNC icon
26
SS&C Technologies
SSNC
$19.5B
– –
-1,028,545
Closed -$62.9M
TSEM icon
27
Tower Semiconductor
TSEM
$25.2B
– –
-2,710,852
Closed -$82.7M
FNCH
28
DELISTED
Finch Therapeutics Group, Inc. Common Stock
FNCH
– –
-67,296
Closed -$243K
1
2

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Seth Klarman's Q1 2024 Portfolio in Review

As of Q1 2024, Seth Klarman held 29 positions worth $3.65B, down 20% from $4.59B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Seth Klarman withdrew a net $976M in Q1 2024, closing 7 positions and reducing 8 holdings. Its most notable exit was Tower Semiconductor, an estimated $82.7M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 43% of assets, down from 53% a quarter earlier, followed by Technology and Financials.

Against the trend, Seth Klarman opened a new position in Eagle Materials worth $71.2M.

  • Seth Klarman's largest Q1 2024 buy was Eagle Materials: 262,000 shares worth $71.2M.
  • Seth Klarman added most to Clarivate in Q1 2024, an estimated $42.6M increase.
  • Seth Klarman's biggest Q1 2024 reduction was Liberty Media Corporation Series C Liberty SiriusXM Common Stock, cutting an estimated $315M.
  • Seth Klarman fully exited Tower Semiconductor in Q1 2024, selling an estimated $82.7M.
  • Seth Klarman's ten largest holdings make up 86% of its $3.65B portfolio in Q1 2024.
  • Seth Klarman opened 5 new positions and closed 7 in Q1 2024.
  • Seth Klarman's portfolio value fell 20% quarter-over-quarter to $3.65B.

Based on Baupost Group's 13F filing for Q1 2024, filed 14 May 2024.