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Focused investors/Seth Klarman

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 2026-06-06 from SEC 13F data.

Live quotes available for 9 of 23 rows. Rows without a quote are marked unavailable.

1VSATVIASAT INC COM17.12%-10,499,992$506.21M$48.21No quote
2BPBP PLC SPONSORED ADR14.18%Reduce -22.3%9,320,900$419.44M$45.00No quote
3HPQHEWLETT PACKARD CO COM13.90%Reduce -8.0%17,250,000$411.07M$23.83No quote
4NWSANEWS CORP CL A10.03%-15,041,665$296.47M$19.71No quote
5THRXTHERAVANCE INC COM9.60%Add +2.3%14,553,800$283.8MNo quoteNo quote
6MSFTMICROSOFT CORP COM7.64%Reduce -41.7%7,000,000$225.79M$32.26No quote
7NWSNEWS CORP CL B7.20%-10,658,335$212.85M$19.97No quote
8ANVALLIED NEVADA GOLD CORP COM4.41%-4,012,750$130.54MNo quoteNo quote
9IDIXIDENIX PHARMACEUTICALS INC COM2.73%Add +45.6%8,249,000$80.76MNo quoteNo quote
10NGNOVAGOLD RES INC COM NEW2.43%Add +33.9%10,000,000$71.8M$7.18No quote
11AVEOAVEO PHARMACEUTICALS INC COM2.13%-5,084,652$63.1MNo quoteNo quote
12ENZNENZON PHARMACEUTICALS INC COM2.08%-9,000,878$61.57MNo quoteNo quote
13-THERAVANCE INC NOTE 3.000% 1/1CUSIP 88338TAA21.77%-51,000,000$52.21MNo quoteNo quote
14ELOSSYNERON MEDICAL LTD ORD SHS1.45%-4,000,000$42.88MNo quoteNo quote
15AOIALLIANCE ONE INTL INC COM1.12%-8,786,700$33.13MNo quoteNo quote
16CPFCENTRAL PAC FINL CORP COM NEW0.79%-1,800,000$23.31M$12.95No quote
17ITRNITURAN LOCATION AND CONTROL SHS0.77%-1,685,666$22.66M$13.44No quote
18SCMRSYCAMORE NETWORKS INC COM NEW0.32%-530,871$9.42MNo quoteNo quote
19MGAMMULTIMEDIA GAMES HLDG CO INC COM0.22%Reduce -76.9%583,538$6.4MNo quoteNo quote
20ALRALERE INC COM0.12%Reduce -93.1%137,700$3.58MNo quoteNo quote
23TRGTTARGACEPT INC COM-Sold0$0No quoteNo quote
22PDLIPDL BIOPHARMA INC COM-Sold0$0No quoteNo quote
21GNWGENWORTH FINL INC COM CL A-Sold0$0No quoteNo quote