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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

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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 10 of 46 rows. Rows without a quote are marked unavailable.

1LNGCHENIERE ENERGY INC11.69%-20,726,340$933.51MNo quoteNo quote
2SYFSYNCHRONY FINL11.39%-29,295,030$909.61M$31.05No quote
3VSATVIASAT INC10.60%-13,158,137$846.33M$64.32No quote
4QRVOQORVO INC7.97%-9,000,000$636.12M$70.68No quote
5AGNALLERGAN PLC7.61%Add +21.9%2,964,203$607.51MNo quoteNo quote
6CLNSCOLONY NORTHSTAR INC7.53%-47,905,461$601.69MNo quoteNo quote
7FOXATWENTY FIRST CENTY FOX INC6.32%-19,137,469$504.85M$26.38No quote
8ARANTERO RES CORP5.96%Add +12.9%23,912,257$475.85M$19.90No quote
9PBFPBF ENERGY INC5.44%-15,724,175$434.14M$27.61No quote
10TBPHTHERAVANCE BIOPHARMA INC3.99%Add +0.4%9,309,168$318.75MNo quoteNo quote
11DVMTDELL TECHNOLOGIES INC2.95%Reduce -46.0%3,052,459$235.68MNo quoteNo quote
12FOXTWENTY FIRST CENTY FOX INC2.38%Add +1.5%7,384,542$190.45M$25.79No quote
13KERXKERYX BIOPHARMACEUTICALS INC2.29%-25,791,678$183.12MNo quoteNo quote
14CAHCARDINAL HEALTH INC2.12%Add +24.6%2,530,000$169.31M$66.92No quote
15ESRXEXPRESS SCRIPTS HLDG CO2.03%-2,556,891$161.9MNo quoteNo quote
16VRTVVERITIV CORP1.24%Add +0.3%3,053,724$99.25MNo quoteNo quote
17ATRAATARA BIOTHERAPEUTICS INC1.11%-5,359,632$88.7MNo quoteNo quote
18MCKMCKESSON CORP0.96%New500,000$76.81M$153.61No quote
19PRTKPARATEK PHARMACEUTICALS INC0.75%-2,394,498$60.1MNo quoteNo quote
20IMOSCHIPMOS TECHNOLOGIES INC0.74%Reduce -13.2%3,048,295$58.89MNo quoteNo quote
21AMCAMC ENTMT HLDGS INC0.66%New3,565,361$52.41MNo quoteNo quote
22GTYHUGTY TECHNOLOGY HOLDINGS INC0.58%-4,400,000$46.02MNo quoteNo quote
23CDEVCENTENNIAL RESOURCE DEV INC0.53%-2,407,153$42.09MNo quoteNo quote
24CARAVIS BUDGET GROUP0.49%Reduce -74.1%1,036,900$39.46MNo quoteNo quote
25FWPFORWARD PHARMA A/S0.49%Add +1.6%6,463,265$39.23MNo quoteNo quote
26NGNOVAGOLD RES INC0.49%-9,500,000$39.14M$4.12No quote
27CASCCASCADIAN THERAPEUTICS INC0.45%-8,721,079$35.67MNo quoteNo quote
28SCACSABAN CAP ACQUISITION CORP0.29%-2,326,500$23.38MNo quoteNo quote
29SRUNSILVER RUN ACQUISITION0.27%Reduce -67.5%2,149,352$21.88MNo quoteNo quote
30RUNSUNRUN INC0.20%-2,848,082$15.81MNo quoteNo quote
31CORAMERISOURCEBERGEN CORP0.20%New188,850$15.63MNo quoteNo quote
32TMQTRILOGY METALS INC NEW0.12%-10,600,758$9.98MNo quoteNo quote
33OREXOREXIGEN THERAPEUTICS INC0.06%-2,226,839$4.72MNo quoteNo quote
34PXDPIONEER NAT RES CO0.05%New28,895$4.26MNo quoteNo quote
35SMPLWSIMPLY GOOD FOODS CO0.03%New1,035,146$2.46MNo quoteNo quote
36SCACWSABAN CAP ACQUISITION CORP0.02%-1,163,250$1.37MNo quoteNo quote
44SRCSPIRIT RLTY CAP INC NEW-Sold0$0No quoteNo quote
43SRUNWSILVER RUN ACQUISITION-Sold0$0No quoteNo quote
42QCOMQUALCOMM INC-Sold0$0No quoteNo quote
41BATRKLIBERTY MEDIA CORP DELAWARE-Sold0$0No quoteNo quote
40CACCCREDIT ACCEP CORP MICH-Sold0$0No quoteNo quote
39CPAAWCONYERS PK ACQUISITION-Sold0$0No quoteNo quote
38CPAACONYERS PK ACQUISITION-Sold0$0No quoteNo quote
37AIGWSAMERICAN INTL GROUP INC-Sold0$0No quoteNo quote

Other instruments

Bonds, warrants, or non-share principal positions reported alongside the equity portfolio.

1TBPH 3.25 11/01/23THERAVANCE BIOPHARMA INCNOTE 3.250%11/0OTHER30,000,000$37.13M
2THRXTHERAVANCE INCNOTE 2.125% 1/1OTHER0$0