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.

Filing period

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

Live quotes available for 10 of 39 rows. Rows without a quote are marked unavailable.


1	SYF	SYNCHRONY FINL	11.22%	-	29,295,030	$1.13B	$38.61	No quote
2	LNG	CHENIERE ENERGY INC	11.07%	-	20,726,340	$1.12B	No quote	No quote
3	VSAT	VIASAT INC	9.77%	-	13,158,137	$984.89M	$74.85	No quote
4	FOXA	TWENTY FIRST CENTY FOX INC	7.63%	Add +16.5%	22,288,731	$769.63M	$34.53	No quote
5	TWX	TIME WARNER INC	7.35%	New	8,100,000	$740.91M	No quote	No quote
6	AGN	ALLERGAN PLC	7.30%	Add +51.8%	4,500,000	$736.11M	No quote	No quote
7	QRVO	QORVO INC	7.27%	Add +22.2%	11,000,000	$732.6M	$66.60	No quote
8	CLNS	COLONY NORTHSTAR INC	5.42%	-	47,905,461	$546.6M	No quote	No quote
9	AR	ANTERO RES CORP	4.66%	Add +3.4%	24,722,187	$469.72M	$19.00	No quote
10	PBF	PBF ENERGY INC	3.84%	Reduce -30.5%	10,924,175	$387.26M	$35.45	No quote
11	FOX	TWENTY FIRST CENTY FOX INC	3.56%	Add +42.6%	10,531,258	$359.33M	$34.12	No quote
12	PXD	PIONEER NAT RES CO	3.43%	Add +6821.6%	2,000,000	$345.7M	No quote	No quote
13	CAH	CARDINAL HEALTH INC	3.10%	Add +101.6%	5,100,000	$312.48M	$61.27	No quote
14	TBPH	THERAVANCE BIOPHARMA INC	2.58%	-	9,309,168	$259.63M	No quote	No quote
15	MCK	MCKESSON CORP	2.10%	Add +172.0%	1,360,000	$212.09M	$155.95	No quote
16	ESRX	EXPRESS SCRIPTS HLDG CO	1.71%	Reduce -9.8%	2,306,456	$172.15M	No quote	No quote
17	COR	AMERISOURCEBERGEN CORP	1.31%	Add +659.6%	1,434,565	$131.72M	No quote	No quote
18	KERX	KERYX BIOPHARMACEUTICALS INC	1.19%	-	25,791,678	$119.93M	No quote	No quote
19	VRTV	VERITIV CORP	1.04%	Add +19.3%	3,641,485	$105.24M	No quote	No quote
20	ATRA	ATARA BIOTHERAPEUTICS INC	0.96%	-	5,359,632	$97.01M	No quote	No quote
21	AMC	AMC ENTMT HLDGS INC	0.75%	Add +40.2%	5,000,000	$75.5M	No quote	No quote
22	GTYHU	GTY TECHNOLOGY HOLDINGS INC	0.45%	-	4,400,000	$45.38M	No quote	No quote
23	PRTK	PARATEK PHARMACEUTICALS INC	0.43%	-	2,394,498	$42.86M	No quote	No quote
24	NG	NOVAGOLD RES INC	0.42%	Add +13.1%	10,742,835	$42.22M	$3.93	No quote
25	CASC	CASCADIAN THERAPEUTICS INC	0.32%	-	8,721,079	$32.27M	No quote	No quote
26	IMOS	CHIPMOS TECHNOLOGIES INC	0.26%	Reduce -51.8%	1,470,408	$25.95M	No quote	No quote
27	SCAC	SABAN CAP ACQUISITION CORP	0.23%	-	2,326,500	$23.1M	No quote	No quote
28	RUN	SUNRUN INC	0.17%	-	2,848,082	$16.8M	No quote	No quote
29	STNLU	SENTINEL ENERGY SVCS INC	0.16%	New	1,600,000	$15.95M	No quote	No quote
30	FWP	FORWARD PHARMA A/S	0.15%	Reduce -35.3%	4,179,940	$15.38M	No quote	No quote
31	TMQ	TRILOGY METALS INC NEW	0.11%	-	10,600,758	$11.5M	No quote	No quote
32	OREX	OREXIGEN THERAPEUTICS INC	0.03%	-	2,226,839	$2.87M	No quote	No quote
33	SCACW	SABAN CAP ACQUISITION CORP	0.01%	-	1,163,250	$1.44M	No quote	No quote
38	SMPLW	SIMPLY GOOD FOODS CO	-	Sold	0	$0	No quote	No quote
37	SRUN	SILVER RUN ACQUISITION	-	Sold	0	$0	No quote	No quote
36	DVMT	DELL TECHNOLOGIES INC	-	Sold	0	$0	No quote	No quote
35	CDEV	CENTENNIAL RESOURCE DEV INC	-	Sold	0	$0	No quote	No quote
34	CAR	AVIS BUDGET GROUP	-	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	$33.04M