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Built from publicly disclosed institutional and insider activity. Informational purposes only - not investment advice.OpenStocks · v0.1
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  3. Seth Klarman (Baupost Group)
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Hedge Fund · CIK 0001061768

Seth Klarman

Baupost Group
Share
  • Consumer-Focused
  • Mid-Size Fund

Seth Klarman runs Baupost Group, a hedge fund overseeing $5.28B in disclosed equity holdings (SEC CIK 0001061768). The latest portfolio (2025Q4) discloses 22 positions across 8 sectors, with the largest positions in QSR, AMZN and WILLIS TOWERS WATSON PLC LTD. On a mark-to-market basis the tracked portfolio has returned 19.7% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Seth's filingsView holdings↓
Portfolio
$5.28B
Positions
22
Quarter
2025Q4
Filings tracked
40
1Y+19.7%Since filing+161.8%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1

Holdings

Sorted by value · 2024Q4
22 positions
1
G96629103WILLIS TOWERS WATSON PLC LTD
16.75%
of portfolio
Number of shares
1,836,748 sh
Holdings current value
$575.34M
Avg closing price
$247.73
Last action
Added 17.1%
2025Q4
Current —
2
G61188127LIBERTY GLOBAL LTD
15.09%
of portfolio
Number of shares
39,453,843 sh
Holdings current value
$518.42M
Avg closing price
$18.64
Last action
Trimmed 1.9%
2025Q4
Current —
3
GOOGALPHABET INC
Communication Services·Internet Content & Information
7.91%
of portfolio
Number of shares
1,425,988 sh
Holdings current value
$271.56M
Avg closing price
$158.61
+114.0%
Last action
Trimmed 35.1%
2025Q4
Current $339.40
4
WCCWESCO INTL INC
Industrials·Industrial Distribution
7.56%
of portfolio
Number of shares
1,435,671 sh
Holdings current value
$259.80M
Avg closing price
$165.07
+93.3%
Last action
Trimmed 5.5%
2025Q4
Current $319.06
5
G25508105CRH PLC
7.12%
of portfolio
Number of shares
2,641,402 sh
Holdings current value
$244.38M
Avg closing price
$71.21
Last action
Trimmed 46.7%
2025Q4
Current —
6
FERGFERGUSON ENTERPRISES INC
Industrials·Industrial Distribution
5.72%
of portfolio
Number of shares
1,132,000 sh
Holdings current value
$196.48M
Avg closing price
$174.61
+49.2%
Last action
Trimmed 1.6%
2025Q4
Current $260.49
7
QSRRESTAURANT BRANDS INTL INC
Consumer Cyclical·Restaurants
5.51%
of portfolio
Number of shares
2,901,700 sh
Holdings current value
$189.13M
Avg closing price
$64.87
+20.7%
Last action
Trimmed 5.6%
2025Q4
Current $78.32
8
G21810109CLARIVATE PLC
5.37%
of portfolio
Number of shares
36,279,205 sh
Holdings current value
$184.30M
Avg closing price
$6.78
Last action
Exited
2025Q2
Current —
9
EXPEAGLE MATLS INC
Basic Materials·Building Materials
4.59%
of portfolio
Number of shares
638,223 sh
Holdings current value
$157.49M
Avg closing price
$237.87
-15.4%
Last action
Added 62.5%
2025Q4
Current $201.28
10
DGDOLLAR GEN CORP NEW
Consumer Defensive·Discount Stores
4.55%
of portfolio
Number of shares
2,060,800 sh
Holdings current value
$156.25M
Avg closing price
$102.70
+23.3%
Last action
Trimmed 22.7%
2025Q4
Current $126.68
11
VSATVIASAT INC
Technology·Communication Equipment
3.03%
of portfolio
Number of shares
12,222,590 sh
Holdings current value
$104.01M
Avg closing price
$66.35
-5.3%
Last action
Exited
2025Q3
Current $62.85
12
GDSGDS HLDGS LTDADR
Technology·Information Technology Services
2.94%
of portfolio
Number of shares
4,249,952 sh
Holdings current value
$100.98M
Avg closing price
$7.67
+482.4%
Last action
Trimmed 4.6%
2025Q4
Current $44.70
13
867975104SUNRISE COMMUNICATIONS AG
2.93%
of portfolio
Number of shares
2,335,263 sh
Holdings current value
$100.60M
Avg closing price
$43.08
Last action
Exited
2025Q1
Current —
14
SOLVSOLVENTUM CORP
Healthcare·Medical Instruments & Supplies
2.78%
of portfolio
Number of shares
1,446,300 sh
Holdings current value
$95.54M
Avg closing price
$52.88
+33.3%
Last action
Exited
2025Q2
Current $70.48
15
HUMHUMANA INC
Healthcare·Healthcare Plans
2.56%
of portfolio
Number of shares
346,000 sh
Holdings current value
$87.78M
Avg closing price
$373.65
-45.1%
Last action
Exited
2025Q1
Current $205.14
16
G61188101LIBERTY GLOBAL LTD
1.93%
of portfolio
Number of shares
5,201,444 sh
Holdings current value
$66.37M
Avg closing price
$17.77
Last action
Trimmed 36.6%
2025Q4
Current —
17
G4412G101HERBALIFE NUTRITION LTD
1.48%
of portfolio
Number of shares
7,600,526 sh
Holdings current value
$50.85M
Avg closing price
$10.57
Last action
Added 24.6%
2025Q4
Current —
18
GPCGENUINE PARTS CO
Consumer Cyclical·Auto Parts
1.07%
of portfolio
Number of shares
315,337 sh
Holdings current value
$36.82M
Avg closing price
$133.01
-14.4%
Last action
Added 40.6%
2025Q4
Current $113.79
19
HLF 4.25 06/15/28HERBALIFE LTD
0.38%
of portfolio
Number of shares
17,129,000 sh
Holdings current value
$13.10M
Avg closing price
$0.73
Last action
Exited
2025Q4
Current —
20
LBRDKLIBERTY BROADBAND CORP
Communication Services·Telecom Services
0.37%
of portfolio
Number of shares
170,610 sh
Holdings current value
$12.76M
Avg closing price
$93.55
-41.0%
Last action
Exited
2025Q3
Current $55.23
21
TBNTAMBORAN RES CORP
0.35%
of portfolio
Number of shares
570,833 sh
Holdings current value
$11.98M
Avg closing price
$20.32
+76.0%
Last action
Trimmed 35.5%
2025Q4
Current $35.76
22
LBRDALIBERTY BROADBAND CORP
Communication Services·Telecom Services
0.02%
of portfolio
Number of shares
7,560 sh
Holdings current value
$562.0K
Avg closing price
$76.85
-28.3%
Last action
Exited
2025Q3
Current $55.13

Portfolio heatmap

Box size = % of portfolio · color = return since filing
WILLIS TOWERS WATSON PLC LTD
16.75%
LIBERTY GLOBAL LTD
15.09%
GOOG
7.91% · +78.2%
WCC
7.56% · +76.3%
CRH PLC
7.12%
FERG
5.72% · +50.1%
QSR
5.51% · +20.2%
CLARIVATE PLC
5.37%
EXP
4.59% · -18.4%
DG
4.55% · +67.1%
VSAT
3.03% · +638.5%
GDS
2.94% · +88.1%
SUNRISE COMMUNICATIONS AG
2.93%
SOLV
2.78% · +6.7%
HUM
2.56% · -19.1%
LIBERTY GLOBAL LTD
1.93%
HERBALIFE NUTRITION LTD
1.48%
GPC
1.07% · -2.5%
HLF 4.25 06/15/28
0.38%
LBRDK
0.37% · -26.1%
TBN
0.35% · +70.4%
LBRDA
0.02% · -25.8%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.
  • Industrials2 pos$456.3M27.3%
  • Communication Services3 pos$284.9M17.1%
  • Consumer Cyclical2 pos$226.0M13.5%
  • Technology2 pos$205.0M12.3%
  • Healthcare2 pos$183.3M11.0%
  • Basic Materials1 pos$157.5M9.4%
  • Consumer Defensive1 pos$156.3M9.4%
(51.4% unclassified, excluded from %)