Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q3 2024 filing in brief
In its Q3 2024 13F, filed November 13, 2024, Baupost Group reported $3.5B across 21 US positions. The largest: LIBERTY GLOBAL LTD (26.0%), WILLIS TOWERS WATSON PLC LTD (14.9%), CLARIVATE PLC (7.9%), GOOG (7.0%), CRH PLC (7.0%). In the quarter it opened 6 positions, sold out of 9, added to 4 and trimmed 5; positions opened and sold out came to 23.7% 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 Nov 13, 2024
- 6 New
- 4 Added
- 5 Trimmed
- 9 Exited
21 positions at September 30, 2024. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | LIBERTY GLOBAL LTD | $914M | 42.3M | 26.00% | 0.0% | Held |
| 2 | — | WILLIS TOWERS WATSON PLC LTD | $525M | 1.8M | 14.92% | +7.8% | Added |
| 3 | — | CLARIVATE PLC | $276M | 38.9M | 7.86% | 0.0% | Held |
| 4 | GOOG | ALPHABET INC | $245M | 1.5M | 6.97% | +37.0% | Added |
| 5 | — | CRH PLC | $245M | 2.6M | 6.95% | −37.6% | Trimmed |
| 6 | WCC | WESCO INTL INC | $211M | 1.3M | 6.01% | +56.7% | Added |
| 7 | DG | DOLLAR GEN CORP NEW | $195M | 2.3M | 5.54% | — | New |
| 8 | — | LIBERTY GLOBAL LTD | $152M | 7.2M | 4.32% | 0.0% | Held |
| 9 | VSAT | VIASAT INC | $146M | 12.2M | 4.15% | −11.2% | Trimmed |
| 10 | EXP | EAGLE MATLS INC | $144M | 500.3K | 4.09% | +46.2% | Added |
| 11 | SOLV | SOLVENTUM CORP | $127M | 1.8M | 3.61% | 0.0% | Held |
| 12 | GDS | GDS HLDGS LTD | $87M | 4.2M | 2.47% | 0.0% | Held |
| 13 | FIS | FIDELITY NATL INFORMATION SV | $81M | 971.5K | 2.31% | −72.3% | Trimmed |
| 14 | J | JACOBS SOLUTIONS INC | $46M | 350.7K | 1.31% | −29.0% | Trimmed |
| 15 | FTRE | FORTREA HLDGS INC | $46M | 2.3M | 1.30% | −27.0% | Trimmed |
| 16 | — | HERBALIFE LTD | $37M | 5.1M | 1.05% | 0.0% | Held |
| 17 | LBRDK | LIBERTY BROADBAND CORP | $13M | 170.6K | 0.37% | — | New |
| 18 | HLF 4.25 06/15/28 | HERBALIFE LTD | $13M | 17.1M | 0.36% | — | New |
| 19 | TBN | TAMBORAN RES CORP | $12M | 570.8K | 0.33% | — | New |
| 20 | QSR | RESTAURANT BRANDS INTL INC | $2M | 28.3K | 0.06% | — | New |
| 21 | LBRDA | LIBERTY BROADBAND CORP | $581K | 7.6K | 0.02% | — | 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 |
|---|---|---|---|
| HUM | HUMANA INC | $157M | 420.0K |
| — | JAZZ PHARMACEUTICALS PLC | $136M | 1.3M |
| OB 2.95 07/27/26 | OUTBRAIN INC | $103M | 118.0M |
| WSC | WILLSCOT MOBIL MINI HLDNG CO | $93M | 2.5M |
| — | THERAVANCE BIOPHARMA INC | $36M | 4.2M |
| — | CAPRI HOLDINGS LIMITED | $33M | 1.0M |
| LM0C | LIBERTY MEDIA CORP DEL | $23M | 1.1M |
| VRSN | VERISIGN INC | $19M | 105.8K |
| 22941EUR | LIBERTY MEDIA CORP DEL | $13M | 600.2K |
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.