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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
+7.22%
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
$12.3B
AUM Growth
-$233M
Cap. Flow
-$826M
Cap. Flow %
-6.7%
Top 10 Hldgs %
68.04%
Holding
65
New
6
Increased
4
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
SJR
Shaw Communications Inc.
SJR
+$217M
2
MU icon
Micron Technology
MU
+$147M
3
IS
ironSource Ltd.
IS
+$86M
4
META icon
Meta Platforms (Facebook)
META
+$80.2M
5
AUR icon
Aurora
AUR
+$59.4M

Top Sells

Rank Stock Value
1
FOXA icon
Fox Class A
FOXA
+$275M
2
EBAY icon
eBay
EBAY
+$215M
3
FOX icon
Fox Class B
FOX
+$198M
4
DOC icon
Healthpeak Properties
DOC
+$158M
5
WTW icon
Willis Towers Watson
WTW
+$151M

Sector Composition

Rank Sector Weight
1 Technology 33.6%
2 Communication Services 32.85%
3 Consumer Discretionary 9.54%
4 Financials 8.73%
5 Healthcare 7.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BSN.WS
51
DELISTED
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
$1.78M 0.01%
1,485,000
– –
RTP.WS
52
DELISTED
Reinvent Technology Partners Redeemable Warrants, each whole warrant exercisable for one Class A ord
RTP.WS
$1.71M 0.01%
875,000
– –
LMACW
53
DELISTED
Liberty Media Acquisition Corporation Warrants
LMACW
$1.4M 0.01%
640,000
– –
HZON.WS
54
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
$1.36M 0.01%
1,166,666
– –
AUROW
55
Aurora Innovation Warrant
AUROW
$246M
$1.35M 0.01%
+750,000
New +$1.21M
IIAC.WS
56
DELISTED
Investindustrial Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one Class
IIAC.WS
$707K 0.01%
700,000
– –
RTPZ.WS
57
DELISTED
Reinvent Technology Partners Z Redeemable warrants, each whole warrant exercisable for one Class A o
RTPZ.WS
$362K ﹤0.01%
200,000
– –
SVFAW
58
DELISTED
SVF Investment Corp. Warrant
SVFAW
$308K ﹤0.01%
200,000
– –
DOC icon
59
Healthpeak Properties
DOC
$14.8B
– –
-4,966,911
Closed -$158M
FNF icon
60
Fidelity National Financial
FNF
$12.7B
– –
-3,158,412
Closed -$123M
FOX icon
61
Fox Class B
FOX
$25.6B
– –
-5,680,307
Closed -$198M
FOXA icon
62
Fox Class A
FOXA
$28.8B
– –
-7,610,818
Closed -$275M
RTPYU
63
DELISTED
Reinvent Technology Partners Y Unit
RTPYU
– –
-6,000,000
Closed -$60.2M
TBA
64
DELISTED
Thoma Bravo Advantage
TBA
– –
-4,000,000
Closed -$41.8M
1 2
3

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Seth Klarman's Q2 2021 Portfolio in Review

As of Q2 2021, Seth Klarman held 65 positions worth $12.3B, down 1.9% from $12.6B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Seth Klarman withdrew a net $826M in Q2 2021, closing 6 positions and reducing 11 holdings. Its most notable exit was Fox Class A, an estimated $275M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, up from 33% a quarter earlier, followed by Communication Services and Consumer Discretionary.

Against the trend, Seth Klarman opened a new position in Shaw Communications Inc. worth $218M.

  • Seth Klarman's largest Q2 2021 buy was Shaw Communications Inc.: 7,530,807 shares worth $218M.
  • Seth Klarman added most to Micron Technology in Q2 2021, an estimated $147M increase.
  • Seth Klarman's biggest Q2 2021 reduction was eBay, cutting an estimated $215M.
  • Seth Klarman fully exited Fox Class A in Q2 2021, selling an estimated $275M.
  • Seth Klarman's ten largest holdings make up 68% of its $12.3B portfolio in Q2 2021.
  • Seth Klarman opened 6 new positions and closed 6 in Q2 2021.
  • Seth Klarman's portfolio value fell 1.9% quarter-over-quarter to $12.3B.

Based on Baupost Group's 13F filing for Q2 2021, filed 13 Aug 2021.