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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
+14.78%
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
$3.52B
AUM Growth
-$118M
Cap. Flow
-$424M
Cap. Flow %
-12.05%
Top 10 Hldgs %
86.82%
Holding
29
New
5
Increased
4
Reduced
5
Closed
8

Top Buys

Rank Stock Value
1
DG icon
Dollar General
DG
+$253M
2
WCC
WESCO International
WCC
+$73.9M
3
GOOG icon
Alphabet (Google) Class C
GOOG
+$67M
4
EXP icon
Eagle Materials
EXP
+$39.5M
5
WTW icon
Willis Towers Watson
WTW
+$36M

Top Sells

Rank Stock Value
1
FIS icon
Fidelity National Information Services
FIS
+$200M
2
HUM icon
Humana
HUM
+$157M
3
JAZZ icon
Jazz Pharmaceuticals
JAZZ
+$136M
4
CRH icon
CRH
CRH
+$134M
5
WSC icon
WillScot Mobile Mini Holdings
WSC
+$93M

Sector Composition

Rank Sector Weight
1 Communication Services 37.68%
2 Technology 16.79%
3 Financials 14.92%
4 Materials 11.05%
5 Industrials 7.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WSC icon
26
WillScot Mobile Mini Holdings
WSC
$4.01B
– –
-2,470,000
Closed -$93M
LSXMK
27
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
– –
-1,058,616
Closed -$23.5M
LSXMA
28
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
– –
-600,194
Closed -$13.3M
1
2

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Seth Klarman's Q3 2024 Portfolio in Review

As of Q3 2024, Seth Klarman held 29 positions worth $3.52B, down 3.2% from $3.63B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Seth Klarman withdrew a net $424M in Q3 2024, closing 8 positions and reducing 5 holdings. Its most notable exit was Humana, an estimated $157M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 38% of assets, up from 31% a quarter earlier, followed by Technology and Financials.

Against the trend, Seth Klarman opened a new position in Dollar General worth $195M.

  • Seth Klarman's largest Q3 2024 buy was Dollar General: 2,303,800 shares worth $195M.
  • Seth Klarman added most to WESCO International in Q3 2024, an estimated $73.9M increase.
  • Seth Klarman's biggest Q3 2024 reduction was Fidelity National Information Services, cutting an estimated $200M.
  • Seth Klarman fully exited Humana in Q3 2024, selling an estimated $157M.
  • Seth Klarman's ten largest holdings make up 87% of its $3.52B portfolio in Q3 2024.
  • Seth Klarman opened 5 new positions and closed 8 in Q3 2024.
  • Seth Klarman's portfolio value fell 3.2% quarter-over-quarter to $3.52B.

Based on Baupost Group's 13F filing for Q3 2024, filed 13 Nov 2024.