Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2023 filing in brief
In its Q4 2023 13F, filed February 13, 2024, Baupost Group reported $4.6B across 23 US positions. The largest: LIBERTY GLOBAL LTD (17.2%), VSAT (9.9%), LM0C (9.3%), GOOG (9.1%), FIS (8.3%). In the quarter it opened 2 positions, sold out of 11, added to 3 and trimmed 7; positions opened and sold out came to 56.7% 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, 2024
- 2 New
- 3 Added
- 7 Trimmed
- 11 Exited
23 positions at December 31, 2023. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL LTD | $789M | 42.3M | 17.20% | — | New |
| 2 | VSAT | VIASAT INC | $452M | 16.2M | 9.86% | 0.0% | Held |
| 3 | LM0C | LIBERTY MEDIA CORP DEL | $427M | 14.9M | 9.32% | 0.0% | Held |
| 4 | GOOG | ALPHABET INC | $416M | 2.9M | 9.07% | −23.0% | Trimmed |
| 5 | FIS | FIDELITY NATL INFORMATION SV | $382M | 6.4M | 8.33% | −8.6% | Trimmed |
| 6 | — | WILLIS TOWERS WATSON PLC LTD | $375M | 1.6M | 8.18% | 0.0% | Held |
| 7 | WBD | WARNER BROS DISCOVERY INC | $287M | 25.2M | 6.26% | 0.0% | Held |
| 8 | — | CLARIVATE PLC | $236M | 25.5M | 5.15% | +13.3% | Added |
| 9 | 22941EUR | LIBERTY MEDIA CORP DEL | $235M | 8.2M | 5.13% | 0.0% | Held |
| 10 | — | CRH PLC | $231M | 3.3M | 5.05% | 0.0% | Held |
| 11 | — | LIBERTY GLOBAL LTD | $128M | 7.2M | 2.79% | — | New |
| 12 | — | JAZZ PHARMACEUTICALS PLC | $103M | 833.7K | 2.24% | +23.7% | Added |
| 13 | J | JACOBS SOLUTIONS INC | $94M | 727.8K | 2.06% | +49.2% | Added |
| 14 | — | THERAVANCE BIOPHARMA INC | $83M | 7.4M | 1.82% | 0.0% | Held |
| 15 | — | TOWER SEMICONDUCTOR LTD | $83M | 2.7M | 1.80% | −4.9% | Trimmed |
| 16 | LLYVA | LIBERTY MEDIA CORP DEL | $69M | 1.9M | 1.51% | −4.0% | Trimmed |
| 17 | SSNC | SS&C TECHNOLOGIES HLDGS INC | $63M | 1.0M | 1.37% | −55.3% | Trimmed |
| 18 | GTN | GRAY TELEVISION INC | $34M | 3.8M | 0.73% | 0.0% | Held |
| 19 | GTX | GARRETT MOTION INC | $29M | 3.0M | 0.63% | −50.0% | Trimmed |
| 20 | LLYVK | LIBERTY MEDIA CORP DEL | $27M | 718.3K | 0.59% | −62.2% | Trimmed |
| 21 | — | HERBALIFE LTD | $26M | 1.7M | 0.56% | −0.8% | Held |
| 22 | OPTU | ALTICE USA INC | $16M | 4.8M | 0.34% | 0.0% | Held |
| 23 | FNCHQ | FINCH THERAPEUTICS GROUP INC | $243K | 67.3K | 0.01% | 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 |
|---|---|---|---|
| — | LIBERTY GLOBAL PLC | $785M | 42.3M |
| VRTVEUR | VERITIV CORP | $561M | 3.3M |
| — | LIBERTY GLOBAL PLC | $123M | 7.2M |
| DG | DOLLAR GEN CORP NEW | $98M | 927.0K |
| QRVO | QORVO INC | $89M | 935.6K |
| COIN 0.5 06/01/26 | COINBASE GLOBAL INC | $71M | 93.8M |
| EDU | NEW ORIENTAL ED & TECHNOLOGY | $60M | 1.0M |
| — | SEAGATE TECHNOLOGY HLDNGS PL | $40M | 600.0K |
| — | ADVANTAGE SOLUTIONS INC | $17M | 6.2M |
| ATRAGBX | ATARA BIOTHERAPEUTICS INC | $14M | 9.8M |
| TMQ | TRILOGY METALS INC NEW | $1M | 2.3M |
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.