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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

Full auditCompare with peers
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 15 of 39 rows. Rows without a quote are marked unavailable.

1EBAYEBAY INC14.30%Add +60.5%32,086,000$964.51M$30.0652w: $26.02 - $39.25; reported $30.06
2LBTYKLIBERTY GLOBAL PLC12.51%Add +2.5%53,705,407$843.71M$15.7152w: $7.66 - $11.51; reported $15.71
3FOXAFOX CORP9.57%-27,322,720$645.64M$23.6352w: $19.81 - $39.73; reported $23.63
4VSATVIASAT INC7.31%-13,732,068$493.26M$35.9252w: $25.10 - $74.05; reported $35.92
5GOOGALPHABET INC5.18%New300,500$349.42M$1162.8152w: $50.68 - $76.61; reported $1162.81
6HPQHP INC5.15%Add +100.0%20,000,000$347.2M$17.3652w: $12.54 - $23.93; reported $17.36
7METAFACEBOOK INC4.91%New1,984,000$330.93M$166.8052w: $137.10 - $224.20; reported $166.80
8PARAVIACOMCBS INC4.67%Add +32.4%22,500,000$315.23MNo quoteNo quote
9LNGCHENIERE ENERGY INC4.03%Reduce -19.9%8,124,235$272.16MNo quoteNo quote
10QRVOQORVO INC3.66%Add +11.4%3,062,486$246.93M$80.6352w: $67.54 - $122.36; reported $80.63
11MCKMCKESSON CORP3.35%Add +4.5%1,669,181$225.77M$135.2652w: $112.60 - $172.18; reported $135.26
12TBPHTHERAVANCE BIOPHARMA INC3.19%-9,309,168$215.14MNo quoteNo quote
13HDSHD SUPPLY HLDGS INC2.62%New6,217,930$176.78MNo quoteNo quote
14TBIOTRANSLATE BIO INC2.54%-17,544,239$171.07MNo quoteNo quote
15AKBAAKEBIA THERAPEUTICS INC1.97%Reduce -10.4%17,527,968$132.86MNo quoteNo quote
16FOXFOX CORP1.93%-5,680,307$129.97M$22.8852w: $19.13 - $38.84; reported $22.88
17LBTYALIBERTY GLOBAL PLC1.87%-7,657,205$126.42M$16.5152w: $7.85 - $11.83; reported $16.51
18NXSTNEXSTAR MEDIA GROUP INC1.78%Add +4.3%2,085,000$120.37MNo quoteNo quote
19PCGPG&E CORP1.29%Reduce -48.6%9,702,443$87.23M$8.9952w: $6.25 - $18.34; reported $8.99
20CLNYCOLONY CAP INC NEW1.29%-49,687,370$86.95MNo quoteNo quote
21CORAMERISOURCEBERGEN CORP1.23%Reduce -19.7%936,299$82.86MNo quoteNo quote
22ATRAATARA BIOTHERAPEUTICS INC1.05%-8,308,900$70.71MNo quoteNo quote
23UNVRUNIVAR SOLUTIONS INC0.87%Reduce -42.1%5,500,000$58.96MNo quoteNo quote
24ETENERGY TRANSFER LP0.83%New12,105,005$55.68M$4.6052w: $3.75 - $13.86; reported $4.60
25XPOXPO LOGISTICS INC0.61%New845,877$41.24M$48.7552w: $13.30 - $34.65; reported $48.75
26LSXMKLIBERTY MEDIA CORP DEL0.59%New1,254,100$39.66MNo quoteNo quote
27VRTVVERITIV CORP0.42%-3,564,439$28.02MNo quoteNo quote
28SPRSPIRIT AEROSYSTEMS HLDGS INC0.38%New1,067,781$25.55MNo quoteNo quote
29LSXMALIBERTY MEDIA CORP DEL0.29%New625,568$19.82MNo quoteNo quote
30TMQTRILOGY METALS INC NEW0.24%-12,182,568$16.4MNo quoteNo quote
31CARSCARS COM INC0.19%Add +10.8%3,000,000$12.9MNo quoteNo quote
32VISTVISTA OIL & GAS S A B DE C V0.18%-6,175,000$12.35M$2.0052w: $1.93 - $8.34; reported $2.00
37SYFSYNCHRONY FINL-Sold0$0No quoteNo quote
36NUANNUANCE COMMUNICATIONS INC-Sold0$0No quoteNo quote
35MDRMCDERMOTT INTL INC-Sold0$0No quoteNo quote
34ERIELDORADO RESORTS INC-Sold0$0No quoteNo quote
33BMYBRISTOL MYERS SQUIBB CO-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$28.69M
2TSLA 2.375 03/15/22TESLA INCNOTE 2.375% 3/1OTHER0$0