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.
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Updated 2026-09-12 from SEC 13F data.
Live quotes available for 13 of 49 rows. Rows without a quote are marked unavailable.
| 1 | LNG | CHENIERE ENERGY INC | 12.18% | - | 21,726,340 | $1.03B | No quote | No quote |
| 2 | VSAT | VIASAT INC | 9.96% | - | 13,158,137 | $839.75M | $63.82 | No quote |
| 3 | FOXA | TWENTY FIRST CENTY FOX INC | 7.35% | - | 19,137,469 | $619.86M | $32.39 | No quote |
| 4 | CLNS | COLONY NORTHSTAR INC | 7.33% | New | 47,905,461 | $618.46M | No quote | No quote |
| 5 | SYF | SYNCHRONY FINL | 7.18% | Reduce -14.5% | 17,665,000 | $605.91M | $34.30 | No quote |
| 6 | AGN | ALLERGAN PLC | 6.89% | Reduce -29.1% | 2,432,603 | $581.2M | No quote | No quote |
| 7 | QRVO | QORVO INC | 5.84% | New | 7,185,514 | $492.64M | $68.56 | No quote |
| 8 | DVMT | DELL TECHNOLOGIES INC | 4.29% | Reduce -15.0% | 5,652,459 | $362.21M | No quote | No quote |
| 9 | PBF | PBF ENERGY INC | 4.13% | - | 15,724,175 | $348.61M | $22.17 | No quote |
| 10 | TBPH | THERAVANCE BIOPHARMA INC | 4.05% | - | 9,273,991 | $341.47M | No quote | No quote |
| 11 | AR | ANTERO RES CORP | 3.92% | - | 14,505,881 | $330.88M | $22.81 | No quote |
| 12 | QCOM | QUALCOMM INC | 3.55% | New | 5,216,000 | $299.09M | $57.34 | No quote |
| 13 | FOX | TWENTY FIRST CENTY FOX INC | 2.74% | - | 7,278,100 | $231.3M | $31.78 | No quote |
| 14 | INVA | INNOVIVA INC | 1.90% | Reduce -22.5% | 11,573,663 | $160.06M | No quote | No quote |
| 15 | KERX | KERYX BIOPHARMACEUTICALS INC | 1.88% | - | 25,791,678 | $158.88M | No quote | No quote |
| 16 | VRTV | VERITIV CORP | 1.87% | - | 3,044,385 | $157.7M | No quote | No quote |
| 17 | MCK | MCKESSON CORP | 1.76% | - | 1,000,000 | $148.26M | $148.26 | No quote |
| 18 | FWP | FORWARD PHARMA A/S | 1.42% | Add +3.9% | 5,575,407 | $119.93M | No quote | No quote |
| 19 | ATRA | ATARA BIOTHERAPEUTICS INC | 1.31% | - | 5,359,632 | $110.14M | No quote | No quote |
| 20 | CAH | CARDINAL HEALTH INC | 1.00% | - | 1,030,000 | $84M | $81.55 | No quote |
| 21 | ESRX | EXPRESS SCRIPTS HLDG CO | 0.96% | New | 1,228,619 | $80.98M | No quote | No quote |
| 22 | SRUNU | SILVER RUN ACQUISITION | 0.82% | New | 6,615,554 | $69M | No quote | No quote |
| 23 | LVNTA | LIBERTY INTERACTIVE CORP | 0.78% | - | 1,481,719 | $65.91M | No quote | No quote |
| 24 | IMOS | CHIPMOS TECHNOLOGIES INC | 0.74% | - | 3,509,858 | $62.3M | No quote | No quote |
| 25 | CACC | CREDIT ACCEP CORP MICH | 0.58% | - | 244,400 | $48.74M | $199.41 | No quote |
| 26 | BATRK | LIBERTY MEDIA CORP DELAWARE | 0.56% | Reduce -33.4% | 1,994,010 | $47.16M | $23.65 | No quote |
| 27 | SYT | SYNGENTA AG | 0.55% | Reduce -29.1% | 527,968 | $46.73M | No quote | No quote |
| 28 | NG | NOVAGOLD RES INC | 0.55% | - | 9,500,000 | $46.27M | $4.87 | No quote |
| 29 | GTYHU | GTY TECHNOLOGY HOLDINGS INC | 0.54% | - | 4,400,000 | $45.41M | No quote | No quote |
| 30 | COR | AMERISOURCEBERGEN CORP | 0.53% | - | 502,474 | $44.47M | No quote | No quote |
| 31 | CDEV | CENTENNIAL RESOURCE DEV INC | 0.49% | - | 2,407,153 | $41.66M | No quote | No quote |
| 32 | PRTK | PARATEK PHARMACEUTICALS INC | 0.47% | - | 2,044,498 | $39.36M | No quote | No quote |
| 33 | CPAA | CONYERS PK ACQUISITION | 0.47% | - | 3,712,500 | $39.35M | No quote | No quote |
| 34 | CASC | CASCADIAN THERAPEUTICS INC | 0.43% | Add +109.3% | 8,721,079 | $36.11M | No quote | No quote |
| 35 | AIGWS | AMERICAN INTL GROUP INC | 0.32% | Reduce -51.5% | 1,259,012 | $26.91M | No quote | No quote |
| 36 | SCAC | SABAN CAP ACQUISITION CORP | 0.28% | - | 2,326,500 | $23.24M | No quote | No quote |
| 37 | RUN | SUNRUN INC | 0.18% | - | 2,848,082 | $15.38M | No quote | No quote |
| 38 | OREX | OREXIGEN THERAPEUTICS INC | 0.09% | - | 2,226,839 | $7.66M | No quote | No quote |
| 39 | TMQ | TRILOGY METALS INC NEW | 0.07% | - | 10,600,758 | $5.8M | No quote | No quote |
| 40 | CPAAW | CONYERS PK ACQUISITION | 0.03% | - | 1,237,500 | $2.54M | No quote | No quote |
| 41 | SCACW | SABAN CAP ACQUISITION CORP | 0.02% | - | 1,163,250 | $1.57M | No quote | No quote |
| 47 | NRF | NORTHSTAR RLTY FIN CORP | - | Sold | 0 | $0 | No quote | No quote |
| 46 | NSAM | NORTHSTAR ASSET MGMT GROUP I | - | Sold | 0 | $0 | No quote | No quote |
| 45 | BATRA | LIBERTY MEDIA CORP DELAWARE | - | Sold | 0 | $0 | No quote | No quote |
| 44 | LEXEA | LIBERTY EXPEDIA HOLDINGS | - | Sold | 0 | $0 | No quote | No quote |
| 43 | CLNY | COLONY CAP INC | - | Sold | 0 | $0 | No quote | No quote |
| 42 | CWSA | CITIGROUP INC | - | Sold | 0 | $0 | No quote | No quote |
Other instruments
Bonds, warrants, or non-share principal positions reported alongside the equity portfolio.
| 1 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INCNOTE 3.250% 11/0 | OTHER | 30,000,000 | $37.76M |
| 2 | THRX | THERAVANCE INCNOTE 2.125% 1/1 | OTHER | 22,480,000 | $21.4M |