Seth Klarman’s portfolio: Baupost Group 13F holdings
Quarterly SEC 13F-HR filingsCIK 0001061768Latest: Q2 2026
Q4 2024 filing in brief
In its Q4 2024 13F, filed February 13, 2025, Baupost Group reported $3.4B across 22 US positions. The largest: WILLIS TOWERS WATSON PLC LTD (16.8%), LIBERTY GLOBAL LTD (15.1%), GOOG (7.9%), WCC (7.6%), CRH PLC (7.1%). In the quarter it opened 4 positions, sold out of 3, added to 5 and trimmed 6; positions opened and sold out came to 17.1% 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, 2025
- 4 New
- 5 Added
- 6 Trimmed
- 3 Exited
22 positions at December 31, 2024. Q/Q change compares shares with the preceding quarter.
| Row | Ticker | Issuer | Status | ||||
|---|---|---|---|---|---|---|---|
| 1 | — | WILLIS TOWERS WATSON PLC LTD | $575M | 1.8M | 16.75% | +3.1% | Added |
| 2 | — | LIBERTY GLOBAL LTD | $518M | 39.5M | 15.09% | −6.8% | Trimmed |
| 3 | GOOG | ALPHABET INC | $272M | 1.4M | 7.91% | −2.7% | Trimmed |
| 4 | WCC | WESCO INTL INC | $260M | 1.4M | 7.56% | +14.1% | Added |
| 5 | — | CRH PLC | $244M | 2.6M | 7.12% | +0.2% | Held |
| 6 | FERG | FERGUSON ENTERPRISES INC | $196M | 1.1M | 5.72% | — | New |
| 7 | QSR | RESTAURANT BRANDS INTL INC | $189M | 2.9M | 5.51% | +10155.5% | Added |
| 8 | — | CLARIVATE PLC | $184M | 36.3M | 5.37% | −6.8% | Trimmed |
| 9 | EXP | EAGLE MATLS INC | $157M | 638.2K | 4.59% | +27.6% | Added |
| 10 | DG | DOLLAR GEN CORP NEW | $156M | 2.1M | 4.55% | −10.5% | Trimmed |
| 11 | VSAT | VIASAT INC | $104M | 12.2M | 3.03% | 0.0% | Held |
| 12 | GDS | GDS HLDGS LTD | $101M | 4.2M | 2.94% | 0.0% | Held |
| 13 | SNREN | SUNRISE COMMUNICATIONS AG | $101M | 2.3M | 2.93% | — | New |
| 14 | SOLV | SOLVENTUM CORP | $96M | 1.4M | 2.78% | −20.5% | Trimmed |
| 15 | HUM | HUMANA INC | $88M | 346.0K | 2.56% | — | New |
| 16 | — | LIBERTY GLOBAL LTD | $66M | 5.2M | 1.93% | −27.7% | Trimmed |
| 17 | — | HERBALIFE LTD | $51M | 7.6M | 1.48% | +48.3% | Added |
| 18 | GPC | GENUINE PARTS CO | $37M | 315.3K | 1.07% | — | New |
| 19 | HLF 4.25 06/15/28 | HERBALIFE LTD | $13M | 17.1M | 0.38% | 0.0% | Held |
| 20 | LBRDK | LIBERTY BROADBAND CORP | $13M | 170.6K | 0.37% | 0.0% | Held |
| 21 | TBN | TAMBORAN RES CORP | $12M | 570.8K | 0.35% | 0.0% | Held |
| 22 | LBRDA | LIBERTY BROADBAND CORP | $562K | 7.6K | 0.02% | 0.0% | Held |
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.