Seth Klarman · Baupost Group LLC/Ma
| Period: | Q4 2025 |
| Portfolio date: | Dec 31, 2025 |
| No. of stocks: | 22 |
| Portfolio value: | $5.3B |
| Stock | % of Portfolio | Recent Activity | Shares | Reported Price * | Value | Current Price | +/- Reported Price | 52 Week Low | 52 Week High |
|---|---|---|---|---|---|---|---|---|---|
| QSR · Restaurant Brands Intl Inc. | 10.44 | Reduce 2.09% | 8,080,112 | $68.23 | $551,325,000 | $79.71 | +16.82% | $61.33 | $81.96 |
| AMZN · Amazon Com Inc. | 9.28 | New | 2,121,391 | $230.82 | $489,659,000 | $272.68 | +18.14% | $196.00 | $278.56 |
| WTW · Willis Towers Watson Plc Ltd. | 8.45 | Add 24.66% | 1,357,601 | $328.60 | $446,108,000 | $256.36 | -21.98% | $246.61 | $352.79 |
| ELV · Elevance Health Inc. Formerly | 8.43 | Reduce 3.77% | 1,269,302 | $350.55 | $444,954,000 | $378.07 | +7.85% | $273.71 | $424.24 |
| 907818108 · Union Pac Corp. | 7.13 | Add 8.76% | 1,627,254 | $231.32 | $376,416,000 | — | — | — | — |
| WCC · Wesco Intl Inc. | 6.58 | Reduce 5.61% | 1,418,831 | $244.64 | $347,103,000 | $355.31 | +45.24% | $161.70 | $368.90 |
| GOOG · Alphabet Inc. | 6.46 | Reduce 41.49% | 1,087,181 | $313.80 | $341,157,000 | $400.71 | +27.70% | $156.16 | $402.00 |
| FIS · Fidelity Natl Information Sv | 5.67 | Add 18.84% | 4,503,801 | $66.46 | $299,323,000 | $43.49 | -34.56% | $43.28 | $82.74 |
| DG · Dollar Gen Corp. New | 5.19 | Reduce 22.65% | 2,062,821 | $132.77 | $273,881,000 | $113.29 | -14.67% | $86.25 | $158.23 |
| FERG · Ferguson Enterprises | 4.80 | Reduce 1.60% | 1,137,035 | $222.63 | $253,138,000 | $241.34 | +8.40% | $173.53 | $271.64 |
| EXP · Eagle Matls Inc. | 4.64 | Add 26.14% | 1,185,248 | $206.68 | $244,967,000 | $210.45 | +1.82% | $171.99 | $243.64 |
| LBTYA · Liberty Global Ltd. | 4.37 | Reduce 3.57% | 20,884,781 | $11.04 | $230,568,000 | $12.15 | +10.05% | $9.03 | $13.52 |
| GPC · Genuine Parts Co. | 3.46 | Add 6.53% | 1,486,088 | $122.96 | $182,729,000 | $104.72 | -14.83% | $96.08 | $151.57 |
| FISV · Fiserv Inc. | 2.80 | Add 145.81% | 2,200,000 | $67.17 | $147,774,000 | $55.48 | -17.40% | $52.91 | $191.91 |
| CRH · Crh Plc | 2.54 | Reduce 68.29% | 1,072,957 | $124.80 | $133,905,000 | $113.76 | -8.85% | $86.83 | $131.55 |
| HLF · Herbalife Ltd. | 2.26 | Add 19.33% | 9,259,844 | $12.89 | $119,359,000 | $14.31 | +11.02% | $6.62 | $20.40 |
| MOH · Molina Healthcare Inc. | 2.05 | New | 625,000 | $173.54 | $108,463,000 | $185.94 | +7.14% | $121.06 | $333.00 |
| AERO · Grupo Aeromexico Sab De Cv | 2.02 | New | 4,855,180 | $21.96 | $106,620,000 | $16.31 | -25.73% | $12.26 | $23.05 |
| GDS · Gds Hldgs Ltd. | 2.01 | Reduce 6.31% | 3,044,818 | $34.90 | $106,264,000 | $44.25 | +26.79% | $22.53 | $48.61 |
| COLD · Americold Realty Trust Inc. | 0.85 | Reduce 3.45% | 3,475,685 | $12.86 | $44,697,000 | $14.84 | +15.40% | $10.10 | $18.56 |
| LBTYA · Liberty Global Ltd. | 0.44 | Reduce 59.02% | 2,080,456 | $11.14 | $23,176,000 | $12.15 | +9.07% | $9.03 | $13.52 |
| TBN · Tamboran Res Corp. | 0.13 | Reduce 54.94% | 257,226 | $27.23 | $7,004,000 | $35.64 | +30.89% | $17.29 | $52.21 |
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held. Price columns + 52-week range are placeholders pending v2 price-data feed.
Sector % analysis
11 sectors represented
Whales with similar holdings to Seth Klarman
Ranked by number of overlapping positions in current portfolios
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