Seth Klarman - Baupost Group
As of Q2 2026, Seth Klarman reported 23 long-equity positions worth $5.42B in aggregate.
Copy-investor backtest
- Latest quarter
- +3.22%
- 1-year
- +20.94%
- 3-year
- +48.31%
- 5-year
- +12.01%
- 3-year vs S&P 500
- -25.70%
- 5-year vs S&P 500
- -61.90%
- 5-year top 5
- -0.29%
Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.
Get email alerts when Seth Klarman files a new 13F — sign in or create a free account.
Sells
These are the positions the manager reduced or sold out of this quarter, showing where they pulled money back. The quarter shown is Q2 2026.
| Ticker | Security | Activity | % portfolio | Shares | Value | Reported price | Q range |
|---|---|---|---|---|---|---|---|
| WCC | WESCO INTL INC | Reduce -53.9% | 4.23% | 662,881 | $228.98M | $345.43 | $267.10 - $377.90(71%)$282.46 -> $345.43 |
| UNP | UNION PAC CORP | Reduce -23.1% | 5.95% | 1,185,395 | $322.43M | $272.00 | $240.00 - $279.70(81%)$243.12 -> $272.00 |
| QSR | RESTAURANT BRANDS INTL INC | Reduce -16.4% | 9.04% | 6,753,112 | $489.61M | $72.50 | $70.95 - $81.96(14%)$75.10 -> $72.51 |
| EXP | EAGLE MATLS INC | Reduce -40.5% | 2.21% | 530,763 | $119.42M | $225.00 | $182.88 - $245.37(67%)$190.96 -> $225.17 |
| PCVX | VAXCYTE INC | Sold | — | 0 | $0 | — | - |
| WTW | WILLIS TOWERS WATSON PLC LTD | Sold | — | 0 | $0 | — | - |
| LBTYK | LIBERTY GLOBAL LTD | Reduce -36.2% | 1.74% | 8,543,161 | $93.98M | $11.00 | $10.54 - $12.39(25%)$11.82 -> $11.00 |
| AON | AON PLC | Reduce -10.7% | 4.21% | 687,000 | $227.87M | $331.69 | $306.52 - $340.69(74%)$321.34 -> $332.17 |
| TFX | TELEFLEX INCORPORATED | Reduce -11.7% | 3.30% | 1,409,000 | $178.61M | $126.76 | $114.24 - $139.67(49%)$118.42 -> $126.76 |
| COLD | AMERICOLD REALTY TRUST INC | Reduce -12.2% | 1.98% | 6,830,230 | $107.37M | $15.72 | $10.98 - $16.11(92%)$11.23 -> $15.72 |
| DNOW | DNOW INC | Reduce -23.1% | 0.67% | 2,788,000 | $36.16M | $12.97 | $11.51 - $14.16(55%)$11.84 -> $12.98 |