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 |
Encompass Health
EHC
|
+$150M |
| 2 |
FISV
Fiserv Inc
FISV
|
+$95M |
| 3 |
Qorvo
QRVO
|
+$94.7M |
| 4 |
Dropbox
DBX
|
+$57.7M |
| 5 |
Alphabet (Google) Class C
GOOG
|
+$42.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PSTH
Pershing Square Tontine Holdings, Ltd.
PSTH
|
+$188M |
| 2 |
Gen Digital
GEN
|
+$150M |
| 3 |
Nexstar Media Group
NXST
|
+$98.1M |
| 4 |
VRNT
Verint Systems
VRNT
|
+$79.5M |
| 5 |
Intel
INTC
|
+$71.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.75% |
| 2 | Communication Services | 38.55% |
| 3 | Financials | 5.88% |
| 4 | Healthcare | 5.33% |
| 5 | Industrials | 5.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Liberty Global Class C
LBTYK
$3.55B
| $1.4B | 15.04% |
53,971,307
| – | – |
|
|
2
Qorvo
QRVO
$8.43B
| $825M | 8.87% |
6,645,712
+699,968
| +12% | +$94.7M |
|
|
3
Intel
INTC
$476B
| $822M | 8.84% |
16,592,431
-1,444,519
| -8% | -$71.6M |
|
4
Viasat
VSAT
$10.3B
| $795M | 8.55% |
16,288,959
| – | – |
|
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $681M | 7.32% |
4,877,800
+313,200
| +7% | +$42.6M |
|
|
LSXMK
6
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $510M | 5.49% |
14,409,611
+841,373
| +6% | +$31.2M |
|
|
VRTV
7
DELISTED
VERITIV CORPORATION
VRTV
| $476M | 5.12% |
3,564,439
| – | – |
|
|
FISV
8
Fiserv Inc
FISV
$28B
| $404M | 4.35% |
3,988,391
+938,391
| +31% | +$95M |
|
9
Willis Towers Watson
WTW
$31.8B
| $291M | 3.13% |
1,230,966
-19,034
| -2% | -$4.36M |
|
10
SS&C Technologies
SSNC
$19.5B
| $283M | 3.04% |
3,767,449
-49,443
| -1% | -$3.87M |
|
|
LSXMA
11
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $257M | 2.76% |
7,648,733
+877,758
| +13% | +$30.9M |
|
|
12
Dropbox
DBX
$7.5B
| $246M | 2.64% |
10,571,046
+2,476,021
| +31% | +$57.7M |
|
13
Micron Technology
MU
$1.09T
| $242M | 2.61% |
3,110,974
-139,442
| -4% | -$11.9M |
|
|
14
Nexstar Media Group
NXST
$5.73B
| $216M | 2.33% |
1,147,692
-564,400
| -33% | -$98.1M |
|
15
Meta Platforms (Facebook)
META
$1.4T
| $216M | 2.32% |
969,911
-14,589
| -1% | -$3.65M |
|
|
16
Encompass Health
EHC
$11.9B
| $213M | 2.29% |
3,771,000
+2,870,862
| +319% | +$150M |
|
|
GTXAP
17
DELISTED
Garrett Motion Inc. Series A Cumulative Convertible Preferred Stock
GTXAP
| $211M | 2.27% |
25,480,292
| – | – |
|
18
Liberty Global Class A
LBTYA
$3.63B
| $195M | 2.1% |
7,657,205
| – | – |
|
19
DigitalBridge
DBRG
$2.95B
| $132M | 1.42% |
4,591,590
-1,127,675
| -20% | -$32.9M |
|
20
Theravance Biopharma
TBPH
$883M
| $130M | 1.4% |
13,643,333
-16,835
| -0.1% | -$165K |
|
|
VRNT
21
DELISTED
Verint Systems
VRNT
| $114M | 1.23% |
2,207,576
-1,547,389
| -41% | -$79.5M |
|
22
Atara Biotherapeutics
ATRA
$97.4M
| $75.5M | 0.81% |
324,945
-14,155
| -4% | -$4.51M |
|
23
Advantage Solutions
ADV
$441M
| $74.3M | 0.8% |
481,598
-6,202
| -1% | -$1.07M |
|
|
LFG
24
DELISTED
Archaea Energy Inc.
LFG
| $65.5M | 0.7% |
3,121,503
-378,497
| -11% | -$6.88M |
|
25
Nuvation Bio
NUVB
$2.43B
| $54.9M | 0.59% |
10,443,494
+1,820,473
| +21% | +$10.2M |
|
Similar funds
Seth Klarman's Q1 2022 Portfolio in Review
As of Q1 2022, Seth Klarman held 57 positions worth $9.3B, down 8.2% from $10.1B the previous quarter. Its ten largest holdings account for 70% of the portfolio.
Seth Klarman's Q1 2022 filing shows 3 new, 9 increased, 29 reduced and 2 closed positions. Its largest new stake was Gray Television: 1,290,916 shares worth $28.5M. The largest sale was Pershing Square Tontine Holdings, Ltd., an estimated $188M.
By sector, the portfolio is most concentrated in Technology at 41% of assets, down from 41% a quarter earlier, followed by Communication Services and Financials.
- Seth Klarman's largest Q1 2022 buy was Gray Television: 1,290,916 shares worth $28.5M.
- Seth Klarman added most to Encompass Health in Q1 2022, an estimated $150M increase.
- Seth Klarman's biggest Q1 2022 reduction was Nexstar Media Group, cutting an estimated $98.1M.
- Seth Klarman fully exited Pershing Square Tontine Holdings, Ltd. in Q1 2022, selling an estimated $188M.
- Seth Klarman's ten largest holdings make up 70% of its $9.3B portfolio in Q1 2022.
- Seth Klarman opened 3 new positions and closed 2 in Q1 2022.
- Seth Klarman's portfolio value fell 8.2% quarter-over-quarter to $9.3B.
Based on Baupost Group's 13F filing for Q1 2022, filed 13 May 2022.