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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Filing period

Updated 2026-06-06 from SEC 13F data.

Live quotes available for 17 of 42 rows. Rows without a quote are marked unavailable.


1	EBAY	EBAY INC.	17.01%	Reduce -6.1%	30,115,223	$1.57B	$52.10
2	LBTYK	LIBERTY GLOBAL PLC	12.14%	-	54,555,407	$1.12B	$20.54
3	FOXA	FOX CORP	8.14%	Reduce -1.3%	26,972,720	$750.65M	$27.83
4	VSAT	VIASAT INC	6.07%	Add +18.6%	16,288,959	$560.18M	$34.39
5	PARA	VIACOMCBS INC	5.72%	-	18,837,585	$527.64M	No quote	No quote
6	PSTH	PERSHING SQUARE TONTINE HLDG	4.30%	New	17,500,000	$397.08M	No quote	No quote
7	QRVO	QORVO INC	4.14%	Reduce -3.3%	2,962,886	$382.24M	$129.01
8	PCG	PG&E CORP	3.12%	Add +552.0%	30,657,601	$287.88M	$9.39
9	HDS	HD SUPPLY HLDGS INC	3.05%	Add +3.0%	6,818,119	$281.18M	No quote	No quote
10	HPQ	HP INC	2.74%	Reduce -26.1%	13,300,000	$252.57M	$18.99
11	MCK	MCKESSON CORP	2.69%	-	1,669,181	$248.59M	$148.93
12	MU	MICRON TECHNOLOGY INC	2.66%	New	5,222,000	$245.23M	$46.96
13	TBIO	TRANSLATE BIO INC	2.63%	-	18,044,239	$242.39M	No quote	No quote
14	GOOG	ALPHABET INC	2.46%	Reduce -28.0%	154,580	$227.17M	$1469.60
15	LSXMK	LIBERTY MEDIA CORP DEL	2.09%	Add +3045.7%	5,815,276	$192.37M	No quote	No quote
16	NXST	NEXSTAR MEDIA GROUP INC	2.03%	-	2,085,000	$187.5M	No quote	No quote
17	SSNC	SS&C TECHNOLOGIES HLDGS INC	1.99%	Add +2055.3%	3,028,509	$183.29M	$60.52
18	LBTYA	LIBERTY GLOBAL PLC	1.74%	-	7,657,205	$160.88M	$21.01
19	FOX	FOX CORP	1.72%	-	5,680,307	$158.88M	$27.97
20	META	FACEBOOK INC	1.60%	Reduce -33.9%	563,000	$147.45M	$261.90
21	AMAT	APPLIED MATLS INC	1.49%	New	2,306,601	$137.13M	$59.45
22	TBPH	THERAVANCE BIOPHARMA INC	1.40%	Reduce -6.2%	8,735,168	$129.15M	No quote	No quote
23	ATRA	ATARA BIOTHERAPEUTICS INC	1.39%	-	9,922,030	$128.59M	No quote	No quote
24	VRNT	VERINT SYS INC	1.20%	Add +271.6%	2,290,000	$110.33M	No quote	No quote
25	PEAK	HEALTHPEAK PROPERTIES INC	1.18%	New	4,000,000	$108.6M	No quote	No quote
26	LSXMA	LIBERTY MEDIA CORP DEL	1.05%	New	2,923,048	$96.96M	No quote	No quote
27	HWM	HOWMET AEROSPACE INC	0.83%	New	4,603,800	$76.98M	$16.72
28	CLNY	COLONY CAP INC NEW	0.67%	Reduce -11.9%	22,622,503	$61.76M	No quote	No quote
29	RBACU	REDBALL ACQUISITION CORP	0.57%	New	4,950,000	$52.32M	No quote	No quote
30	VRTV	VERITIV CORP	0.49%	-	3,564,439	$45.13M	No quote	No quote
31	VSPRU	VESPER HEALTHCARE ACQSTN COR	0.44%	New	3,960,000	$40.63M	No quote	No quote
32	RTPU	REINVENT TECHNOLOGY PARTNERS	0.44%	New	3,500,000	$40.22M	No quote	No quote
33	BSNU	BROADSTONE ACQUISITION CORP	0.32%	New	2,970,000	$29.61M	No quote	No quote
34	TMQ	TRILOGY METALS INC NEW	0.24%	-	12,182,568	$21.81M	No quote	No quote
35	PSTHWS	PERSHING SQUARE TONTINE HLDG	0.15%	New	1,944,444	$13.94M	No quote	No quote
36	VIST	VISTA OIL & GAS S A B DE C V	0.11%	Reduce -25.9%	4,416,900	$9.94M	$2.25
41	VTR	VENTAS INC	-	Sold	0	$0	No quote	No quote
40	UNVR	UNIVAR SOLUTIONS INC	-	Sold	0	$0	No quote	No quote
39	HCA	HCA HEALTHCARE INC	-	Sold	0	$0	No quote	No quote
38	COR	AMERISOURCEBERGEN CORP	-	Sold	0	$0	No quote	No quote
37	AKBA	AKEBIA THERAPEUTICS 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	$26.28M