Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q3 2022 filing in brief
In its Q3 2022 13F, filed November 14, 2022, Baupost Group reported $5.8B across 45 US positions. The largest: LIBERTY GLOBAL PLC (13.6%), QRVO (9.3%), LSXMKUSD (9.0%), VSAT (8.5%), VRTVEUR (5.8%). In the quarter it opened 4 positions, sold out of 11, added to 8 and trimmed 7; positions opened and sold out came to 10.5% 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 14, 2022
- 4 New
- 8 Added
- 7 Trimmed
- 11 Exited
45 positions at September 30, 2022. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL PLC | $790M | 47.9M | 13.63% | −1.2% | Trimmed |
| 2 | QRVO | QORVO INC | $538M | 6.8M | 9.29% | −2.7% | Trimmed |
| 3 | LSXMKUSD | LIBERTY MEDIA CORP DEL | $520M | 13.8M | 8.97% | +4.0% | Added |
| 4 | VSAT | VIASAT INC | $492M | 16.3M | 8.50% | 0.0% | Held |
| 5 | VRTVEUR | VERITIV CORP | $336M | 3.4M | 5.80% | −3.6% | Trimmed |
| 6 | WBD | WARNER BROS DISCOVERY INC | $334M | 29.0M | 5.76% | +61.1% | Added |
| 7 | FISV | FISERV INC | $331M | 3.5M | 5.71% | 0.0% | Held |
| 8 | LM03 | LIBERTY MEDIA CORP DEL | $292M | 7.7M | 5.05% | +4.8% | Added |
| 9 | — | WILLIS TOWERS WATSON PLC LTD | $258M | 1.3M | 4.46% | +38.7% | Added |
| 10 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $184M | 7.7M | 3.18% | −3.9% | Trimmed |
| 11 | GTX 11 PERP A | GARRETT MOTION INC | $181M | 25.5M | 3.13% | 0.0% | Held |
| 12 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $180M | 3.8M | 3.11% | +27.3% | Added |
| 13 | MU | MICRON TECHNOLOGY INC | $165M | 3.3M | 2.84% | +20.1% | Added |
| 14 | DBX | DROPBOX INC | $162M | 7.8M | 2.80% | 0.0% | Held |
| 15 | — | THERAVANCE BIOPHARMA INC | $136M | 13.4M | 2.35% | 0.0% | Held |
| 16 | EHC | ENCOMPASS HEALTH CORP | $133M | 3.0M | 2.30% | 0.0% | Held |
| 17 | GOOG | ALPHABET INC | $132M | 1.4M | 2.28% | +715.3% | Added |
| 18 | — | LIBERTY GLOBAL PLC | $112M | 7.2M | 1.94% | 0.0% | Held |
| 19 | META | META PLATFORMS INC | $93M | 688.9K | 1.61% | 0.0% | Held |
| 20 | LAD | LITHIA MTRS INC | $54M | 250.0K | 0.93% | — | New |
| 21 | LFG1USD | ARCHAEA ENERGY INC | $51M | 2.9M | 0.88% | 0.0% | Held |
| 22 | GTN | GRAY TELEVISION INC | $47M | 3.3M | 0.81% | +44.2% | Added |
| 23 | FIS | FIDELITY NATL INFORMATION SV | $46M | 615.0K | 0.80% | — | New |
| 24 | DBRG | DIGITALBRIDGE GROUP INC | $41M | 3.3M | 0.71% | — | New |
| 25 | — | LIBERTY MEDIA ACQUISITION CO | $31M | 3.2M | 0.54% | 0.0% | Held |
| 26 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $31M | 8.1M | 0.53% | 0.0% | Held |
| 27 | AMZN | AMAZON COM INC | $28M | 248.0K | 0.48% | −58.5% | Trimmed |
| 28 | — | ADVANTAGE SOLUTIONS INC | $25M | 11.8M | 0.43% | 0.0% | Held |
| 29 | NUVB | NUVATION BIO INC | $23M | 10.4M | 0.40% | 0.0% | Held |
| 30 | GTX | GARRETT MOTION INC | $20M | 3.6M | 0.35% | 0.0% | Held |
| 31 | — | ENHABIT INC | $6M | 437.3K | 0.11% | — | New |
| 32 | TMQ | TRILOGY METALS INC NEW | $6M | 9.9M | 0.10% | −5.9% | Trimmed |
| 33 | CGEM | CULLINAN ONCOLOGY INC | $6M | 429.6K | 0.10% | −72.0% | Trimmed |
| 34 | TEAD | OUTBRAIN INC | $3M | 792.0K | 0.05% | 0.0% | Held |
| 35 | — | FINCH THERAPEUTICS GROUP INC | $2M | 1.1M | 0.03% | 0.0% | Held |
| 36 | — | ERMENEGILDO ZEGNA N V | $1M | 698.2K | 0.02% | 0.0% | Held |
| 37 | — | VERTICAL AEROSPACE LTD | $1M | 1.5M | 0.02% | 0.0% | Held |
| 38 | — | JOBY AVIATION INC | $724K | 861.4K | 0.01% | 0.0% | Held |
| 39 | AUROW | AURORA INNOVATION INC | $346K | 736.5K | 0.01% | 0.0% | Held |
| 40 | — | HORIZON ACQUISITION CORPORAT | $163K | 1.2M | 0.00% | 0.0% | Held |
| 41 | — | CAZOO GROUP LTD | $67K | 1.3M | 0.00% | 0.0% | Held |
| 42 | — | AVANTI ACQUISITION CORP | $46K | 2.0M | 0.00% | 0.0% | Held |
| 43 | — | HIPPO HLDGS INC | $34K | 199.5K | 0.00% | 0.0% | Held |
| 44 | — | SVF INVESTMENT CORP | $34K | 197.9K | 0.00% | 0.0% | Held |
| 45 | — | LIBERTY MEDIA ACQUISITION CO | $2K | 631.3K | 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 |
|---|---|---|---|
| INTC | INTEL CORP | $326M | 8.7M |
| CLNSEUR | DIGITALBRIDGE GROUP INC | $64M | 13.2M |
| NXST | NEXSTAR MEDIA GROUP INC | $45M | 277.8K |
| TBPH 3.25 11/01/23 | THERAVANCE BIOPHARMA INC | $26M | 28.1M |
| — | GRAB HOLDINGS LIMITED | $14M | 6.1M |
| — | IRONSOURCE LTD | $14M | 5.9M |
| BRBR | BELLRING BRANDS INC | $12M | 479.6K |
| VTY | VERINT SYS INC | $8M | 199.5K |
| — | NOBLE CORP NEW | $2M | 66.7K |
| — | PERSHING SQUARE TONTINE HLDG | $817K | 1.9M |
| — | REDBALL ACQUISITION CORP | $54K | 1.6M |
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.