Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2022 filing in brief
In its Q4 2022 13F, filed February 13, 2023, Baupost Group reported $6.1B across 34 US positions. The largest: LIBERTY GLOBAL PLC (15.1%), LSXMKUSD (8.7%), QRVO (8.5%), VSAT (8.4%), VRTVEUR (6.6%). In the quarter it opened 5 positions, sold out of 16, added to 6 and trimmed 11; positions opened and sold out came to 7.7% 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 13, 2023
- 5 New
- 6 Added
- 11 Trimmed
- 16 Exited
34 positions at December 31, 2022. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL PLC | $923M | 47.5M | 15.05% | −0.7% | Held |
| 2 | LSXMKUSD | LIBERTY MEDIA CORP DEL | $534M | 13.7M | 8.71% | −0.9% | Held |
| 3 | QRVO | QORVO INC | $520M | 5.7M | 8.47% | −15.4% | Trimmed |
| 4 | VSAT | VIASAT INC | $516M | 16.3M | 8.41% | 0.0% | Held |
| 5 | VRTVEUR | VERITIV CORP | $405M | 3.3M | 6.60% | −3.3% | Trimmed |
| 6 | GOOG | ALPHABET INC | $354M | 4.0M | 5.78% | +190.2% | Added |
| 7 | — | WILLIS TOWERS WATSON PLC LTD | $313M | 1.3M | 5.11% | −0.4% | Held |
| 8 | LM03 | LIBERTY MEDIA CORP DEL | $302M | 7.7M | 4.92% | 0.0% | Held |
| 9 | WBD | WARNER BROS DISCOVERY INC | $294M | 31.0M | 4.79% | +6.9% | Added |
| 10 | GTX 11 PERP A | GARRETT MOTION INC | $222M | 25.5M | 3.62% | 0.0% | Held |
| 11 | META | META PLATFORMS INC | $208M | 1.7M | 3.39% | +150.8% | Added |
| 12 | FISV | FISERV INC | $202M | 2.0M | 3.30% | −43.3% | Trimmed |
| 13 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $202M | 5.8M | 3.29% | −24.6% | Trimmed |
| 14 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $196M | 3.8M | 3.20% | 0.0% | Held |
| 15 | MU | MICRON TECHNOLOGY INC | $164M | 3.3M | 2.68% | 0.0% | Held |
| 16 | FIS | FIDELITY NATL INFORMATION SV | $146M | 2.2M | 2.38% | +250.4% | Added |
| 17 | — | LIBERTY GLOBAL PLC | $136M | 7.2M | 2.22% | 0.0% | Held |
| 18 | — | THERAVANCE BIOPHARMA INC | $128M | 11.4M | 2.09% | −14.9% | Trimmed |
| 19 | AMZN | AMAZON COM INC | $83M | 990.0K | 1.36% | +299.2% | Added |
| 20 | LAD | LITHIA MTRS INC | $51M | 250.0K | 0.83% | 0.0% | Held |
| 21 | GTN | GRAY TELEVISION INC | $39M | 3.5M | 0.64% | +7.7% | Added |
| 22 | DBRG | DIGITALBRIDGE GROUP INC | $35M | 3.2M | 0.57% | −2.7% | Trimmed |
| 23 | — | HERBALIFE NUTRITION LTD | $30M | 2.0M | 0.49% | — | New |
| 24 | GTX | GARRETT MOTION INC | $27M | 3.6M | 0.44% | 0.0% | Held |
| 25 | ATRAGBX | ATARA BIOTHERAPEUTICS INC | $27M | 8.1M | 0.43% | 0.0% | Held |
| 26 | — | ADVANTAGE SOLUTIONS INC | $22M | 11.0M | 0.37% | −7.1% | Trimmed |
| 27 | OPTU | ALTICE USA INC | $18M | 3.9M | 0.29% | — | New |
| 28 | COIN 0.5 06/01/26 | COINBASE GLOBAL INC | $14M | 25.3M | 0.23% | — | New |
| 29 | NUVB | NUVATION BIO INC | $9M | 4.8M | 0.15% | −53.8% | Trimmed |
| 30 | RDFN 0 10/15/25 | REDFIN CORP | $5M | 8.5M | 0.08% | — | New |
| 31 | TMQ | TRILOGY METALS INC NEW | $4M | 8.0M | 0.07% | −19.2% | Trimmed |
| 32 | TEAD | OUTBRAIN INC | $555K | 153.2K | 0.01% | −80.7% | Trimmed |
| 33 | — | FINCH THERAPEUTICS GROUP INC | $489K | 1.0M | 0.01% | −9.3% | Trimmed |
| 34 | — | HORIZON ACQUISITION CORPORAT | $0 | 2 | 0.00% | — | New |
16 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 |
|---|---|---|---|
| DBX | DROPBOX INC | $162M | 7.8M |
| EHC | ENCOMPASS HEALTH CORP | $133M | 3.0M |
| LFG1USD | ARCHAEA ENERGY INC | $51M | 2.9M |
| — | LIBERTY MEDIA ACQUISITION CO | $31M | 3.2M |
| — | ENHABIT INC | $6M | 437.3K |
| CGEM | CULLINAN ONCOLOGY INC | $6M | 429.6K |
| — | ERMENEGILDO ZEGNA N V | $1M | 698.2K |
| — | VERTICAL AEROSPACE LTD | $1M | 1.5M |
| — | JOBY AVIATION INC | $724K | 861.4K |
| AUROW | AURORA INNOVATION INC | $346K | 736.5K |
| — | HORIZON ACQUISITION CORPORAT | $163K | 1.2M |
| — | CAZOO GROUP LTD | $67K | 1.3M |
| — | AVANTI ACQUISITION CORP | $46K | 2.0M |
| — | HIPPO HLDGS INC | $34K | 199.5K |
| — | SVF INVESTMENT CORP | $34K | 197.9K |
| — | LIBERTY MEDIA ACQUISITION CO | $2K | 631.3K |
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.