Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q3 2021 filing in brief
In its Q3 2021 13F, filed November 12, 2021, Baupost Group reported $10.9B across 57 US positions. The largest: LIBERTY GLOBAL PLC (14.6%), INTC (9.7%), VSAT (8.2%), QRVO (7.8%), GOOG (7.1%). In the quarter it opened 7 positions, sold out of 9, added to 5 and trimmed 7; positions opened and sold out came to 9.4% of the portfolio's value.
Methodology
Holdings come from the manager’s Form 13F-HR filings on SEC EDGAR, with amendments applied. Values and shares are reported at quarter-end; the filing date is when the report became public. These disclosures show reported long positions and listed options, not the manager’s entire portfolio or its trades since quarter-end.
Quarterly changes compare shares with the immediately preceding quarter on file. New and exited positions appear or disappear; added and trimmed positions change their share count by more than 1%. A share change can also reflect a stock split or other corporate action.
Opened and sold out is the value of new positions plus the prior value of exited positions, divided by the average of the two quarters’ reported portfolio values. It excludes changes to positions still held. Reported value growth includes price changes and is not a measure of investment performance. Largest-five and largest-ten weights exclude options.
Holdings
Filed Nov 12, 2021
- 7 New
- 5 Added
- 7 Trimmed
- 9 Exited
57 positions at September 30, 2021. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL PLC | $1.6B | 54.0M | 14.61% | 0.0% | Held |
| 2 | INTC | INTEL CORP | $1.1B | 19.7M | 9.66% | −9.2% | Trimmed |
| 3 | VSAT | VIASAT INC | $897M | 16.3M | 8.24% | 0.0% | Held |
| 4 | QRVO | QORVO INC | $850M | 5.1M | 7.81% | −4.7% | Trimmed |
| 5 | GOOG | ALPHABET INC | $775M | 290.9K | 7.12% | 0.0% | Held |
| 6 | META | FACEBOOK INC | $525M | 1.5M | 4.82% | 0.0% | Held |
| 7 | MU | MICRON TECHNOLOGY INC | $508M | 7.2M | 4.67% | 0.0% | Held |
| 8 | LSXMKUSD | LIBERTY MEDIA CORP DEL | $431M | 9.1M | 3.96% | +40.1% | Added |
| 9 | EBAY | EBAY INC. | $417M | 6.0M | 3.83% | −59.8% | Trimmed |
| 10 | VRTVEUR | VERITIV CORP | $319M | 3.6M | 2.93% | 0.0% | Held |
| 11 | NXST | NEXSTAR MEDIA GROUP INC | $311M | 2.0M | 2.86% | 0.0% | Held |
| 12 | DBX | DROPBOX INC | $271M | 9.3M | 2.49% | — | New |
| 13 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $265M | 3.8M | 2.43% | +15.1% | Added |
| 14 | — | WILLIS TOWERS WATSON PLC LTD | $232M | 1.0M | 2.14% | −47.1% | Trimmed |
| 15 | — | LIBERTY GLOBAL PLC | $228M | 7.7M | 2.10% | 0.0% | Held |
| 16 | SJR/BEUR | SHAW COMMUNICATIONS INC | $219M | 7.5M | 2.01% | 0.0% | Held |
| 17 | LM03 | LIBERTY MEDIA CORP DEL | $208M | 4.4M | 1.91% | +25.7% | Added |
| 18 | PSTHUSD | PERSHING SQUARE TONTINE HLDG | $188M | 9.6M | 1.73% | −5.4% | Trimmed |
| 19 | IFF | INTERNATIONAL FLAVORS&FRAGRA | $166M | 1.2M | 1.53% | −40.8% | Trimmed |
| 20 | VTY | VERINT SYS INC | $158M | 3.5M | 1.45% | +16.1% | Added |
| 21 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $152M | 8.5M | 1.39% | 0.0% | Held |
| 22 | CLNSEUR | DIGITALBRIDGE GROUP INC | $138M | 22.9M | 1.27% | 0.0% | Held |
| 23 | — | ADVANTAGE SOLUTIONS INC | $104M | 12.2M | 0.95% | 0.0% | Held |
| 24 | — | THERAVANCE BIOPHARMA INC | $101M | 13.7M | 0.93% | +37.8% | Added |
| 25 | — | JOBY AVIATION INC | $96M | 10.0M | 0.88% | — | New |
| 26 | — | IRONSOURCE LTD | $87M | 8.0M | 0.80% | 0.0% | Held |
| 27 | NUVB | NUVATION BIO INC | $85M | 8.6M | 0.78% | 0.0% | Held |
| 28 | PCG | PG&E CORP | $69M | 7.2M | 0.64% | −76.5% | Trimmed |
| 29 | LFG1USD | ARCHAEA ENERGY INC | $59M | 3.5M | 0.54% | — | New |
| 30 | CGEM | CULLINAN ONCOLOGY INC | $40M | 1.8M | 0.37% | 0.0% | Held |
| 31 | — | AVANTI ACQUISITION CORP | $39M | 4.0M | 0.36% | 0.0% | Held |
| 32 | — | HORIZON ACQUISITION CORPORAT | $34M | 3.5M | 0.32% | 0.0% | Held |
| 33 | — | LIBERTY MEDIA ACQUISITION CO | $32M | 3.2M | 0.30% | 0.0% | Held |
| 34 | — | BROADSTONE ACQUISITION CORP | $30M | 3.0M | 0.27% | 0.0% | Held |
| 35 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $28M | 30.0M | 0.25% | 0.0% | Held |
| 36 | GTX | GARRETT MOTION INC | $26M | 3.6M | 0.24% | 0.0% | Held |
| 37 | — | ALTIMETER GROWTH CORP 2 | $25M | 2.5M | 0.23% | 0.0% | Held |
| 38 | TMQ | TRILOGY METALS INC NEW | $23M | 12.2M | 0.21% | 0.0% | Held |
| 39 | — | INVESTINDUSTRIAL ACQUISITION | $21M | 2.1M | 0.19% | 0.0% | Held |
| 40 | — | DRAGONEER GROWTH OPT CORP II | $20M | 2.0M | 0.18% | 0.0% | Held |
| 41 | — | FINCH THERAPEUTICS GROUP INC | $16M | 1.2M | 0.14% | 0.0% | Held |
| 42 | TEAD | OUTBRAIN INC | $12M | 792.0K | 0.11% | — | New |
| 43 | — | DRAGONEER GROWTH OPPTY CORP | $10M | 1.0M | 0.09% | 0.0% | Held |
| 44 | — | SVF INVESTMENT CORP | $10M | 1.0M | 0.09% | 0.0% | Held |
| 45 | — | NOBLE CORP NEW | $3M | 104.9K | 0.02% | 0.0% | Held |
| 46 | — | PERSHING SQUARE TONTINE HLDG | $3M | 1.9M | 0.02% | 0.0% | Held |
| 47 | — | JOBY AVIATION INC | $2M | 875.0K | 0.02% | — | New |
| 48 | — | CAZOO GROUP LTD | $2M | 1.3M | 0.02% | — | New |
| 49 | — | BROADSTONE ACQUISITION CORP | $2M | 1.5M | 0.01% | 0.0% | Held |
| 50 | — | REDBALL ACQUISITION CORP | $1M | 1.6M | 0.01% | 0.0% | Held |
| 51 | — | AVANTI ACQUISITION CORP | $1M | 2.0M | 0.01% | 0.0% | Held |
| 52 | — | REINVENT TECHNOLOGY PARTNERS | $1M | 750.0K | 0.01% | 0.0% | Held |
| 53 | — | HORIZON ACQUISITION CORPORAT | $1M | 1.2M | 0.01% | 0.0% | Held |
| 54 | — | LIBERTY MEDIA ACQUISITION CO | $928K | 640.0K | 0.01% | 0.0% | Held |
| 55 | — | INVESTINDUSTRIAL ACQUISITION | $903K | 700.0K | 0.01% | 0.0% | Held |
| 56 | — | SVF INVESTMENT CORP | $200K | 200.0K | 0.00% | 0.0% | Held |
| 57 | — | HIPPO HLDGS INC | $184K | 200.0K | 0.00% | — | New |
9 exited positions
Positions held in the preceding quarter and absent from this filing. Values and shares are from the preceding quarter.
| Ticker | Issuer | Previous value | Previous shares |
|---|---|---|---|
| — | TRANSLATE BIO INC | $494M | 18.0M |
| — | REINVENT TECHNOLOGY PARTNERS | $59M | 6.0M |
| — | AJAX I | $42M | 4.2M |
| — | REINVENT TECHNOLOGY PARTNERS | $35M | 3.5M |
| — | REINVENT TECHNOLOGY PARTNERS | $10M | 1.0M |
| — | THE BEAUTY HEALTH COMPANY | $6M | 899.0K |
| — | AJAX I | $2M | 1.3M |
| — | REINVENT TECHNOLOGY PARTNERS | $2M | 875.0K |
| — | REINVENT TECHNOLOGY PARTNERS | $362K | 200.0K |
Every quarter on file (53)
From the manager’s Form 13F-HR filings on SEC EDGAR, amendments applied. Long US positions only; not a recommendation.