Seth Klarman portfolio
Updated November 15, 2026
Seth Klarman (Baupost Group) — Author of the legendary book Margin of Safety; very cautious and buys only when prices are far below value.
According to the latest 13F report that Baupost Group filed with the SEC (Q3 2026, filed November 13, 2026), its US stock portfolio is worth about $5.0B across 21 holdings. The largest positions are Amazon.com IncAMZN, Elevance Health IncELV, Restaurant Brands InternQSR, and the top 10 make up 77% of the portfolio.
| # | Stock | Weight | Value | Change this quarter |
|---|---|---|---|---|
| 1 | Amazon.com IncAMZN | 18.5% | $933M | — |
| 2 | Elevance Health IncELV | 9.8% | $496M | — |
| 3 | Restaurant Brands InternQSR | 9.5% | $480M | — |
| 4 | Genuine Parts CoGPC | 7.7% | $390M | Added +10% |
| 5 | Ferguson Enterprises IncFERG | 6.9% | $350M | Added +8% |
| 6 | Alphabet Inc-cl CGOOG | 6.4% | $324M | Trimmed +31% |
| 7 | Wesco International IncWCC | 5.1% | $258M | Added +8% |
| 8 | Visa Inc-class A SharesV | 5.0% | $252M | — |
| 9 | Union Pacific CorpUNP | 4.3% | $216M | Trimmed +33% |
| 10 | AON PLCAON | 3.7% | $187M | Trimmed +2% |
| 11 | CME Group IncCME | 3.6% | $180M | Added +11% |
| 12 | Honeywell Aerospace IncHONA | 3.5% | $175M | New buy |
| 13 | Herbalife LTDHLF | 2.5% | $124M | Added +11% |
| 14 | GDS Holdings LTD - ADRGDS | 2.3% | $118M | — |
| 15 | Siteone Landscape Supply IncSITE | 2.2% | $112M | New buy |
| 16 | Americold Realty Trust IncCOLD | 1.9% | $95M | — |
| 17 | Eagle Materials IncEXP | 1.8% | $91M | — |
| 18 | Molina Healthcare IncMOH | 1.7% | $85M | Trimmed +29% |
| 19 | Axalta Coating SYS LTDAXTA | 1.6% | $81M | Added +97% |
| 20 | Grupo Aeromexico SAB DE CVAERO | 1.5% | $77M | — |
| 21 | Pershing Square IncPS | 0.4% | $22M | — |
Positions sold out
Teleflex IncTFX, Norwegian Cruise Line HldgsNCLH, Liberty Global LTDLBTYA, Dnow IncDNOW
Frequently asked questions
What does Seth Klarman own now?
According to the latest 13F (Q3 2026), the largest holdings are Amazon.com IncAMZN, Elevance Health IncELV, Restaurant Brands InternQSR. The full list is in the table above.
What is a 13F report?
US investment managers with more than $100 million in US stocks must list their holdings with the SEC within 45 days after each quarter ends.
Why is the data delayed?
Because 13F reports arrive up to 45 days after the quarter ends, the manager may have traded since then.
Should I copy this portfolio?
Knowing what great investors buy is a good source of ideas, but because of the delay and different goals, copying blindly is not recommended.
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