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 |
Humana
HUM
|
+$142M |
| 2 |
CRH
CRH
|
+$121M |
| 3 |
Solventum
SOLV
|
+$110M |
| 4 |
WCC
WESCO International
WCC
|
+$102M |
| 5 |
WillScot Mobile Mini Holdings
WSC
|
+$97.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$321M |
| 2 |
Fidelity National Information Services
FIS
|
+$153M |
| 3 |
LSXMK
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
|
+$78.3M |
| 4 |
LSXMA
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
|
+$49.5M |
| 5 |
Warner Bros
WBD
|
+$32.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 30.64% |
| 2 | Technology | 19.78% |
| 3 | Healthcare | 13.71% |
| 4 | Financials | 11.92% |
| 5 | Materials | 10.77% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Liberty Global Class C
LBTYK
$3.55B
| $755M | 20.78% |
42,311,011
| – | – |
|
2
Willis Towers Watson
WTW
$31.8B
| $433M | 11.92% |
1,652,648
+96,981
| +6% | +$25M |
|
|
3
CRH
CRH
$63.2B
| $317M | 8.72% |
4,226,602
+1,517,059
| +56% | +$121M |
|
|
4
Fidelity National Information Services
FIS
$21.3B
| $264M | 7.28% |
3,509,254
-2,069,715
| -37% | -$153M |
|
5
Clarivate
CLVT
$1.33B
| $222M | 6.1% |
38,929,635
+8,331,233
| +27% | +$53.1M |
|
|
6
Alphabet (Google) Class C
GOOG
$4.18T
| $196M | 5.4% |
1,069,588
-1,888,064
| -64% | -$321M |
|
7
Viasat
VSAT
$10.3B
| $175M | 4.81% |
13,759,364
-1,271,474
| -8% | -$20.3M |
|
|
8
Humana
HUM
$45.5B
| $157M | 4.32% |
+420,000
| New | +$142M |
|
9
Jazz Pharmaceuticals
JAZZ
$16.5B
| $136M | 3.74% |
1,274,248
+440,552
| +53% | +$48.4M |
|
|
WCC
10
WESCO International
WCC
$17B
| $127M | 3.5% |
803,000
+597,276
| +290% | +$102M |
|
11
Liberty Global Class A
LBTYA
$3.63B
| $125M | 3.45% |
7,194,276
| – | – |
|
|
12
Solventum
SOLV
$15.2B
| $96.2M | 2.65% |
+1,820,000
| New | +$110M |
|
|
13
WillScot Mobile Mini Holdings
WSC
$4.01B
| $93M | 2.56% |
+2,470,000
| New | +$97.7M |
|
14
Eagle Materials
EXP
$6.35B
| $74.4M | 2.05% |
342,102
+80,102
| +31% | +$19.6M |
|
15
Fortrea Holdings
FTRE
$1.75B
| $73.3M | 2.02% |
3,140,360
+2,836,563
| +934% | +$88.1M |
|
16
Jacobs Solutions
J
$17.6B
| $69M | 1.9% |
597,495
-15,194
| -2% | -$1.78M |
|
17
Herbalife
HLF
$1.33B
| $53.2M | 1.47% |
5,124,526
+2,879,603
| +128% | +$28.8M |
|
18
GDS Holdings
GDS
$6.58B
| $39.5M | 1.09% |
4,249,952
+1,649,952
| +63% | +$13.3M |
|
19
Theravance Biopharma
TBPH
$883M
| $35.6M | 0.98% |
4,200,021
-2,394,105
| -36% | -$21.6M |
|
20
Capri Holdings
CPRI
$1.55B
| $33.1M | 0.91% |
+1,000,000
| New | +$36.2M |
|
|
LSXMK
21
DELISTED
Liberty Media Corporation Series C Liberty SiriusXM Common Stock
LSXMK
| $23.5M | 0.65% |
1,058,616
-3,292,432
| -76% | -$78.3M |
|
22
VeriSign
VRSN
$25.5B
| $18.8M | 0.52% |
+105,764
| New | +$18.8M |
|
|
LSXMA
23
DELISTED
Liberty Media Corporation Series A Liberty SiriusXM Common Stock
LSXMA
| $13.3M | 0.37% |
600,194
-2,077,462
| -78% | -$49.5M |
|
|
OPTU
24
Optimum Communications Inc
OPTU
$323M
| – | – |
-4,774,615
| Closed | -$12.5M |
|
25
SoundHound AI
SOUN
$3.25B
| – | – |
-1,130,636
| Closed | -$5.55M |
|
Similar funds
Seth Klarman's Q2 2024 Portfolio in Review
As of Q2 2024, Seth Klarman held 27 positions worth $3.63B, down 0.46% from $3.65B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Seth Klarman's Q2 2024 filing shows 5 new, 9 increased, 7 reduced and 3 closed positions. Its largest new stake was Humana: 420,000 shares worth $157M. The largest sale was Alphabet (Google) Class C, an estimated $321M.
By sector, the portfolio is most concentrated in Communication Services at 31% of assets, down from 43% a quarter earlier, followed by Technology and Healthcare.
- Seth Klarman's largest Q2 2024 buy was Humana: 420,000 shares worth $157M.
- Seth Klarman added most to CRH in Q2 2024, an estimated $121M increase.
- Seth Klarman's biggest Q2 2024 reduction was Alphabet (Google) Class C, cutting an estimated $321M.
- Seth Klarman fully exited Warner Bros in Q2 2024, selling an estimated $32.4M.
- Seth Klarman's ten largest holdings make up 77% of its $3.63B portfolio in Q2 2024.
- Seth Klarman opened 5 new positions and closed 3 in Q2 2024.
- Seth Klarman's portfolio value fell 0.46% quarter-over-quarter to $3.63B.
Based on Baupost Group's 13F filing for Q2 2024, filed 13 Aug 2024.