Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2021 filing in brief
In its Q4 2021 13F, filed February 11, 2022, Baupost Group reported $10.1B across 54 US positions. The largest: LIBERTY GLOBAL PLC (15.0%), QRVO (9.2%), INTC (9.2%), VSAT (7.2%), GOOG (6.5%). In the quarter it opened 8 positions, sold out of 11, added to 5 and trimmed 11; positions opened and sold out came to 16.6% 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 Feb 11, 2022
- 8 New
- 5 Added
- 11 Trimmed
- 11 Exited
54 positions at December 31, 2021. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL PLC | $1.5B | 54.0M | 14.97% | 0.0% | Held |
| 2 | QRVO | QORVO INC | $930M | 5.9M | 9.18% | +16.9% | Added |
| 3 | INTC | INTEL CORP | $929M | 18.0M | 9.17% | −8.7% | Trimmed |
| 4 | VSAT | VIASAT INC | $726M | 16.3M | 7.16% | 0.0% | Held |
| 5 | GOOG | ALPHABET INC | $660M | 228.2K | 6.52% | −21.6% | Trimmed |
| 6 | LSXMKUSD | LIBERTY MEDIA CORP DEL | $534M | 10.5M | 5.28% | +15.7% | Added |
| 7 | VRTVEUR | VERITIV CORP | $437M | 3.6M | 4.31% | 0.0% | Held |
| 8 | META | META PLATFORMS INC | $331M | 984.5K | 3.27% | −36.4% | Trimmed |
| 9 | FISV | FISERV INC | $317M | 3.0M | 3.13% | — | New |
| 10 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $313M | 3.8M | 3.09% | 0.0% | Held |
| 11 | MU | MICRON TECHNOLOGY INC | $303M | 3.3M | 2.99% | −54.6% | Trimmed |
| 12 | — | WILLIS TOWERS WATSON PLC LTD | $297M | 1.3M | 2.93% | +25.0% | Added |
| 13 | NXST | NEXSTAR MEDIA GROUP INC | $258M | 1.7M | 2.55% | −16.3% | Trimmed |
| 14 | LM03 | LIBERTY MEDIA CORP DEL | $253M | 5.0M | 2.50% | +13.1% | Added |
| 15 | GTX 11 PERP A | GARRETT MOTION INC | $214M | 25.5M | 2.11% | — | New |
| 16 | — | LIBERTY GLOBAL PLC | $212M | 7.7M | 2.10% | 0.0% | Held |
| 17 | DBX | DROPBOX INC | $199M | 8.1M | 1.96% | −12.8% | Trimmed |
| 18 | VTY | VERINT SYS INC | $197M | 3.8M | 1.95% | +6.4% | Added |
| 19 | CLNSEUR | DIGITALBRIDGE GROUP INC | $191M | 22.9M | 1.88% | 0.0% | Held |
| 20 | PSTHUSD | PERSHING SQUARE TONTINE HLDG | $188M | 9.6M | 1.86% | 0.0% | Held |
| 21 | — | THERAVANCE BIOPHARMA INC | $151M | 13.7M | 1.49% | 0.0% | Held |
| 22 | GEN | NORTONLIFELOCK INC | $150M | 5.8M | 1.48% | — | New |
| 23 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $134M | 8.5M | 1.32% | 0.0% | Held |
| 24 | — | ADVANTAGE SOLUTIONS INC | $96M | 12.2M | 0.94% | 0.0% | Held |
| 25 | NUVB | NUVATION BIO INC | $73M | 8.6M | 0.72% | 0.0% | Held |
| 26 | — | JOBY AVIATION INC | $70M | 9.6M | 0.69% | −3.8% | Trimmed |
| 27 | LFG1USD | ARCHAEA ENERGY INC | $62M | 3.5M | 0.61% | 0.0% | Held |
| 28 | EHC | ENCOMPASS HEALTH CORP | $47M | 716.1K | 0.46% | — | New |
| 29 | — | GRAB HOLDINGS LIMITED | $43M | 6.4M | 0.43% | — | New |
| 30 | — | AVANTI ACQUISITION CORP | $39M | 4.0M | 0.39% | 0.0% | Held |
| 31 | — | LIBERTY MEDIA ACQUISITION CO | $33M | 3.2M | 0.32% | 0.0% | Held |
| 32 | — | IRONSOURCE LTD | $31M | 4.0M | 0.31% | −50.0% | Trimmed |
| 33 | TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $29M | 30.0M | 0.28% | 0.0% | Held |
| 34 | GTX | GARRETT MOTION INC | $29M | 3.6M | 0.28% | 0.0% | Held |
| 35 | — | ALTIMETER GROWTH CORP 2 | $25M | 2.5M | 0.24% | 0.0% | Held |
| 36 | CGEM | CULLINAN ONCOLOGY INC | $23M | 1.5M | 0.22% | −16.3% | Trimmed |
| 37 | — | DRAGONEER GROWTH OPT CORP II | $20M | 2.0M | 0.19% | 0.0% | Held |
| 38 | TMQ | TRILOGY METALS INC NEW | $19M | 11.7M | 0.19% | −3.9% | Trimmed |
| 39 | — | FINCH THERAPEUTICS GROUP INC | $11M | 1.1M | 0.11% | −6.3% | Trimmed |
| 40 | TEAD | OUTBRAIN INC | $11M | 792.0K | 0.11% | 0.0% | Held |
| 41 | — | SVF INVESTMENT CORP | $10M | 1.0M | 0.10% | 0.0% | Held |
| 42 | — | PERSHING SQUARE TONTINE HLDG | $3M | 1.9M | 0.03% | 0.0% | Held |
| 43 | — | NOBLE CORP NEW | $2M | 104.9K | 0.02% | 0.0% | Held |
| 44 | AUROW | AURORA INNOVATION INC | $2M | 750.0K | 0.02% | — | New |
| 45 | — | REDBALL ACQUISITION CORP | $2M | 1.6M | 0.02% | 0.0% | Held |
| 46 | — | ERMENEGILDO ZEGNA N V | $1M | 700.0K | 0.01% | — | New |
| 47 | — | JOBY AVIATION INC | $1M | 875.0K | 0.01% | 0.0% | Held |
| 48 | — | AVANTI ACQUISITION CORP | $1M | 2.0M | 0.01% | 0.0% | Held |
| 49 | — | CAZOO GROUP LTD | $1M | 1.3M | 0.01% | 0.0% | Held |
| 50 | — | LIBERTY MEDIA ACQUISITION CO | $1M | 640.0K | 0.01% | 0.0% | Held |
| 51 | — | HORIZON ACQUISITION CORPORAT | $1M | 1.2M | 0.01% | 0.0% | Held |
| 52 | — | VERTICAL AEROSPACE LTD | $1M | 1.5M | 0.01% | — | New |
| 53 | — | SVF INVESTMENT CORP | $260K | 200.0K | 0.00% | 0.0% | Held |
| 54 | — | HIPPO HLDGS INC | $96K | 200.0K | 0.00% | 0.0% | Held |
11 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 |
|---|---|---|---|
| EBAY | EBAY INC. | $417M | 6.0M |
| SJR/BEUR | SHAW COMMUNICATIONS INC | $219M | 7.5M |
| IFF | INTERNATIONAL FLAVORS&FRAGRA | $166M | 1.2M |
| PCG | PG&E CORP | $69M | 7.2M |
| — | HORIZON ACQUISITION CORPORAT | $34M | 3.5M |
| — | BROADSTONE ACQUISITION CORP | $30M | 3.0M |
| — | INVESTINDUSTRIAL ACQUISITION | $21M | 2.1M |
| — | DRAGONEER GROWTH OPPTY CORP | $10M | 1.0M |
| — | BROADSTONE ACQUISITION CORP | $2M | 1.5M |
| — | REINVENT TECHNOLOGY PARTNERS | $1M | 750.0K |
| — | INVESTINDUSTRIAL ACQUISITION | $903K | 700.0K |
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.