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 |
Willis Towers Watson
WTW
|
+$545M |
| 2 |
Alphabet (Google) Class C
GOOG
|
+$419M |
| 3 |
Intel
INTC
|
+$305M |
| 4 |
International Flavors & Fragrances
IFF
|
+$272M |
| 5 |
Qorvo
QRVO
|
+$138M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
eBay
EBAY
|
+$742M |
| 2 |
Fox Class A
FOXA
|
+$510M |
| 3 |
Marathon Petroleum
MPC
|
+$318M |
| 4 |
PARA
Paramount Global Class B
PARA
|
+$175M |
| 5 |
VRNT
Verint Systems
VRNT
|
+$65.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 32.74% |
| 2 | Communication Services | 31.24% |
| 3 | Financials | 11.41% |
| 4 | Consumer Discretionary | 9.34% |
| 5 | Healthcare | 6.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Intel
INTC
$476B
| $1.49B | 11.88% |
23,305,334
+5,119,765
| +28% | +$305M |
|
2
Liberty Global Class C
LBTYK
$3.55B
| $1.39B | 11.1% |
54,555,407
| – | – |
|
|
3
eBay
EBAY
$46.3B
| $1.12B | 8.94% |
18,324,423
-12,790,800
| -41% | -$742M |
|
|
4
Qorvo
QRVO
$8.43B
| $955M | 7.6% |
5,224,466
+784,371
| +18% | +$138M |
|
5
Viasat
VSAT
$10.3B
| $783M | 6.24% |
16,288,959
| – | – |
|
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $602M | 4.79% |
5,818,600
+4,227,000
| +266% | +$419M |
|
|
7
Willis Towers Watson
WTW
$31.8B
| $572M | 4.56% |
+2,500,000
| New | +$545M |
|
8
Micron Technology
MU
$1.09T
| $478M | 3.81% |
5,423,416
+201,416
| +4% | +$17.1M |
|
9
Meta Platforms (Facebook)
META
$1.4T
| $382M | 3.04% |
1,297,000
+377,000
| +41% | +$102M |
|
10
PG&E
PCG
$38.8B
| $359M | 2.86% |
30,657,601
| – | – |
|
|
PSTH
11
DELISTED
Pershing Square Tontine Holdings, Ltd.
PSTH
| $305M | 2.43% |
12,707,924
| – | – |
|
|
TBIO
12
DELISTED
Translate Bio, Inc. Common Stock
TBIO
| $296M | 2.36% |
18,044,239
| – | – |
|
|
13
International Flavors & Fragrances
IFF
$21.5B
| $293M | 2.33% |
+2,100,000
| New | +$272M |
|
14
Nexstar Media Group
NXST
$5.73B
| $293M | 2.33% |
2,085,000
| – | – |
|
|
LSXMK
15
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $286M | 2.28% |
8,371,963
| – | – |
|
|
16
Fox Class A
FOXA
$28.8B
| $275M | 2.19% |
7,610,818
-14,576,132
| -66% | -$510M |
|
17
SS&C Technologies
SSNC
$19.5B
| $266M | 2.12% |
3,806,892
+501,108
| +15% | +$33.8M |
|
18
Fox Class B
FOX
$25.6B
| $198M | 1.58% |
5,680,307
| – | – |
|
19
Liberty Global Class A
LBTYA
$3.63B
| $196M | 1.56% |
7,657,205
| – | – |
|
20
Theravance Biopharma
TBPH
$883M
| $178M | 1.42% |
8,735,168
| – | – |
|
21
Healthpeak Properties
DOC
$14.8B
| $158M | 1.26% |
4,966,911
+966,711
| +24% | +$29.4M |
|
22
DigitalBridge
DBRG
$2.95B
| $157M | 1.25% |
6,053,240
| – | – |
|
|
LSXMA
23
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $154M | 1.23% |
4,763,500
| – | – |
|
|
VRTV
24
DELISTED
VERITIV CORPORATION
VRTV
| $152M | 1.21% |
3,564,439
| – | – |
|
25
Advantage Solutions
ADV
$441M
| $144M | 1.14% |
500,000
| – | – |
|
Similar funds
Seth Klarman's Q1 2021 Portfolio in Review
As of Q1 2021, Seth Klarman held 72 positions worth $12.6B, up 16% from $10.8B the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Seth Klarman's Q1 2021 filing shows 27 new, 7 increased, 5 reduced and 13 closed positions. Its largest new stake was Willis Towers Watson: 2,500,000 shares worth $572M. The largest sale was eBay, an estimated $742M.
By sector, the portfolio is most concentrated in Technology at 33% of assets, up from 27% a quarter earlier, followed by Communication Services and Financials.
- Seth Klarman's largest Q1 2021 buy was Willis Towers Watson: 2,500,000 shares worth $572M.
- Seth Klarman added most to Alphabet (Google) Class C in Q1 2021, an estimated $419M increase.
- Seth Klarman's biggest Q1 2021 reduction was eBay, cutting an estimated $742M.
- Seth Klarman fully exited Marathon Petroleum in Q1 2021, selling an estimated $318M.
- Seth Klarman's ten largest holdings make up 65% of its $12.6B portfolio in Q1 2021.
- Seth Klarman opened 27 new positions and closed 13 in Q1 2021.
- Seth Klarman's portfolio value rose 16% quarter-over-quarter to $12.6B.
Based on Baupost Group's 13F filing for Q1 2021, filed 14 May 2021.