
	Seth Klarman 13F
	The Baupost Group

	Last update 2025-02-13	21 Stocks (4 new)
	Value $3.42 Bil	Turnover 21 %
	Countries: Top Holdings: WTW(16.82%)LBTYK(15.15%)GOOG(7.94%)WCC(7.59%)CRH(7.14%) SEC Filings Portfolio Report

Seth Klarman Profile

Seth Klarman is a value investor and Portfolio Manager of the investment partnership The Baupost Group, which he founded in 1983. The guru, who authored the $1,000 book "Margin of Safety," received an economics degree at Cornell University and an MBA at Harvard University.

Seth Klarman Investing Philosophy

Seth Klarman invests in a wide array of investments, ranging from fairly traditional value stocks to more esoteric investments like distressed debt, liquidations and foreign equities or bonds. Klarman doesn't mind "doing nothing" on occasion. He is completely unperturbed by the idea of sitting on the sidelines holding cash whenever investment opportunities are scarce. Investing, he cautions, is more than just producing absolute returns. Too often investors focus on that one easy number "return" and ignore the risks incurred to generate that number.

Seth Klarman's Portfolio

Seth Klarman Current Holdings

Ticker
Ticker
QSR
FERG
SNRE
HUM
GPC
HLF
EXP
WCC
WTW
CRH
VSAT
GDS
LBRDK
TBN
LBRDA
GOOG
LBTYK
CLVT
DG
SOLV

Ticker	Company	Shares	Value ($1000)	Shares Change %	Weighting %	Trade Impact %	% of Shares outstanding	3M Change %	YTD Change %	Market Cap $Mil	Industry
Ticker	Company	Shares	Value ($1000)	Shares Change %	Weighting %	Trade Impact %	% of Shares outstanding	3M Change %	YTD Change %	Market Cap $Mil	Industry
QSR	Restaurant Brands International Inc	2,901,700	189,130.0	+10,155.53%	5.530	+5.48%	0.890	+2.84%	-2.92%	20,419.7	Restaurants
FERG	Ferguson Enterprises Inc	1,132,000	196,480.0	New Holding	5.740	+5.74%	0.560	-9.68%	-5.50%	32,750.0	Industrial Distribution
SNRE	Sunrise Communications AG	2,335,263	100,600.0	New Holding	2.940	+2.94%	2.460	+9.32%	+22.75%	3,778.8	Telecommunication Services
HUM	Humana Inc	346,000	87,780.0	New Holding	2.570	+2.57%	0.290	-9.98%	+4.24%	31,815.8	Healthcare Plans
GPC	Genuine Parts Co	315,337	36,820.0	New Holding	1.080	+1.08%	0.230	-1.03%	+0.29%	16,119.0	Vehicles & Parts
HLF	Herbalife Ltd	7,600,526	50,850.0	+48.32%	1.490	+0.49%	7.540	+0.93%	-2.24%	662.8	Consumer Packaged Goods
EXP	Eagle Materials Inc	638,223	157,490.0	+27.57%	4.600	+0.99%	1.920	-17.12%	-12.26%	7,198.5	Building Materials
WCC	WESCO International Inc	1,435,671	259,800.0	+14.12%	7.590	+0.94%	2.930	-21.49%	-14.55%	7,524.5	Industrial Distribution
WTW	Willis Towers Watson PLC	1,836,748	575,340.0	+3.12%	16.820	+0.51%	1.840	+2.37%	+4.26%	32,366.3	Insurance
CRH	CRH PLC	2,641,402	244,380.0	+0.18%	7.140	+0.01%	0.390	-12.30%	-4.72%	59,359.9	Building Materials
VSAT	Viasat Inc	12,222,590	104,010.0	0%	3.040	0%	9.470	-27.13%	-1.06%	1,087.2	Hardware
GDS	GDS Holdings Ltd	4,249,952	100,980.0	0%	2.950	0%	2.190	+10.27%	-1.47%	4,550.9	Software
LBRDK	Liberty Broadband Corp	170,610	12,760.0	0%	0.370	0%	0.120	-1.31%	+4.82%	11,199.2	Telecommunication Services
TBN	Tamboran Resources Corp	570,833	11,980.0	0%	0.350	0%	4.010	-3.54%	+3.86%	316.9	Oil & Gas
LBRDA	Liberty Broadband Corp	7,560	560.0	0%	0.020	0%	0.010	-1.83%	+4.07%	11,199.2	Telecommunication Services
GOOG	Alphabet Inc	1,425,988	271,570.0	-2.70%	7.940	-0.19%	0.010	-20.88%	-17.09%	1,906,744.4	Interactive Media
LBTYK	Liberty Global Ltd	39,453,843	518,420.0	-6.75%	15.150	-1.76%	11.030	-9.14%	-16.06%	3,753.2	Telecommunication Services
CLVT	Clarivate PLC	36,279,205	184,300.0	-6.81%	5.390	-0.54%	5.110	-37.27%	-32.09%	2,376.9	Software
DG	Dollar General Corp	2,060,800	156,250.0	-10.55%	4.570	-0.59%	0.940	+34.65%	+27.67%	20,989.5	Retail - Defensive
SOLV	Solventum Corp	1,446,300	95,540.0	-20.53%	2.790	-0.74%	0.840	-10.46%	-0.24%	11,400.9	Medical Devices & Instruments

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