Hedge Fund · CIK 0001061768

Seth Klarman

Baupost Group

Seth Klarman runs Baupost Group, a hedge fund overseeing $5.28B in disclosed equity holdings (SEC CIK 0001061768). The latest portfolio (2025Q4) discloses 22 positions across 8 sectors, with the largest positions in QSR, AMZN and WILLIS TOWERS WATSON PLC LTD. On a mark-to-market basis the tracked portfolio has returned 19.7% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Seth's filings View holdings

Portfolio

$5.28B

Positions

22

Quarter

2025Q4

Filings tracked

40

1Y+19.7%Since filing+161.8%Full performance →

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Capital flow per quarter

BuysSellsNet

Latest · 2025Q4

+$263M

Lifetime buys

$12.12B

Lifetime sells

$14.92B

Quarter activity

What changed in 2024Q4 - net new, added, trimmed, exited.

New positions4 names

FERGFERGUSON ENTERPRISES INC
+1,132,000
$196K
867975SUNRISE COMMUNICATIONS AG
+2,335,263
$101K
HUMHUMANA INC
+346,000
$88K
GPCGENUINE PARTS CO
+315,337
$37K

Added to6 names

QSRRESTAURANT BRANDS INTL INC
+2,873,406
$187K
EXPEAGLE MATLS INC
+137,950
$34K
WCCWESCO INTL INC
+177,671
$32K
G96629WILLIS TOWERS WATSON PLC LTD
+55,542
$17K
G4412GHERBALIFE NUTRITION LTD
+2,476,000
$17K
G25508CRH PLC
+4,800
$444

Trimmed6 names

G61188LIBERTY GLOBAL LTD
−2,857,168
$38K
G61188LIBERTY GLOBAL LTD
−1,992,832
$25K
SOLVSOLVENTUM CORP
−373,700
$25K
DGDOLLAR GEN CORP NEW
−243,000
$18K
G21810CLARIVATE PLC
−2,650,430
$13K
GOOGALPHABET INC
−39,600
$8K

Exited3 names

FISFIDELITY NATL INFORMATION SV
−971,460
$81K
JJACOBS SOLUTIONS INC
−350,681
$46K
FTREFORTREA HLDGS INC
−2,293,167
$46K

Recent transactions

Last 20 moves

TRIM

Seth Klarman (Baupost Group) trimmed QSR

RESTAURANT BRANDS INTL INC

−172,750

~$0.07 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed WCC

WESCO INTL INC

−84,349

~$0.24 · 2025Q4

2026-02-13

SOLD

Seth Klarman (Baupost Group) exited HLF 4.25 06/15/28

HERBALIFE LTD

−17,129,000

~$0.00 · 2025Q4

2026-02-13

NEW

Seth Klarman (Baupost Group) opened a new position in MOH

MOLINA HEALTHCARE INC

+625,000

~$0.17 · 2025Q4

2026-02-13

ADD

Seth Klarman (Baupost Group) added to GPC

GENUINE PARTS CO

+91,088

~$0.12 · 2025Q4

2026-02-13

ADD

Seth Klarman (Baupost Group) added to UNP

UNION PAC CORP

+131,050

~$0.23 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed FERG

FERGUSON ENTERPRISES INC

−18,465

~$0.22 · 2025Q4

2026-02-13

NEW

Seth Klarman (Baupost Group) opened a new position in AERO

GRUPO AEROMEXICO SAB DE CV

+4,855,180

~$0.02 · 2025Q4

2026-02-13

NEW

Seth Klarman (Baupost Group) opened a new position in AMZN

AMAZON COM INC

+2,121,391

~$0.23 · 2025Q4

2026-02-13

ADD

Seth Klarman (Baupost Group) added to FIS

FIDELITY NATL INFORMATION SV

+714,090

~$0.07 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed COLD

AMERICOLD RLTY TR

−124,315

~$0.01 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed GDS

GDS HLDGS LTD

−205,134

~$0.03 · 2025Q4

2026-02-13

SOLD

Seth Klarman (Baupost Group) exited CABO 1.125 03/15/28

CABLE ONE INC

−14,100,000

~$0.00 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed TBN

TAMBORAN RES CORP

−313,607

~$0.03 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed DG

DOLLAR GEN CORP NEW

−604,055

~$0.13 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed ELV

ANTHEM INC

−49,698

~$0.35 · 2025Q4

2026-02-13

ADD

Seth Klarman (Baupost Group) added to EXP

EAGLE MATLS INC

+245,588

~$0.21 · 2025Q4

2026-02-13

ADD

Seth Klarman (Baupost Group) added to FISV

FISERV INC

+1,305,000

~$0.07 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed GOOG

ALPHABET INC

−770,957

~$0.31 · 2025Q4

2026-02-13

TRIM

Seth Klarman (Baupost Group) trimmed G25508105

CRH PLC

−2,310,438

~$0.12 · 2025Q4

2026-02-13