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Built from publicly disclosed institutional and insider activity. Informational purposes only - not investment advice.OpenStocks · v0.1
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  3. Seth Klarman (Baupost Group)
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Hedge Fund · CIK 0001061768

Seth Klarman

Baupost Group
Share
  • Consumer-Focused
  • Mid-Size Fund

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 filingsView holdings↓
Portfolio
$5.28B
Positions
22
Quarter
2025Q4
Filings tracked
40
1Y+19.7%Since filing+161.8%Full performance →
Quarter
2025Q42025Q32025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q1

Holdings

Sorted by value · 2025Q3
22 positions
1
QSRRESTAURANT BRANDS INTL INC
Consumer Cyclical·Restaurants
11.05%
of portfolio
Number of shares
8,252,862 sh
Holdings current value
$529.34M
Avg closing price
$64.87
+20.7%
Last action
Trimmed 2.1%
2025Q4
Current $78.32
2
GOOGALPHABET INC
Communication Services·Internet Content & Information
9.45%
of portfolio
Number of shares
1,858,138 sh
Holdings current value
$452.55M
Avg closing price
$158.61
+114.0%
Last action
Trimmed 29.3%
2025Q4
Current $339.40
3
ELVANTHEM INC
Healthcare·Healthcare Plans
8.90%
of portfolio
Number of shares
1,319,000 sh
Holdings current value
$426.19M
Avg closing price
$362.45
-10.9%
Last action
Trimmed 3.6%
2025Q4
Current $323.05
4
G25508105CRH PLC
8.47%
of portfolio
Number of shares
3,383,395 sh
Holdings current value
$405.67M
Avg closing price
$71.21
Last action
Trimmed 40.6%
2025Q4
Current —
5
G96629103WILLIS TOWERS WATSON PLC LTD
7.85%
of portfolio
Number of shares
1,089,065 sh
Holdings current value
$376.22M
Avg closing price
$247.73
Last action
Added 32.7%
2025Q4
Current —
6
UNPUNION PAC CORP
Industrials·Railroads
7.38%
of portfolio
Number of shares
1,496,204 sh
Holdings current value
$353.66M
Avg closing price
$232.55
+8.0%
Last action
Added 9.6%
2025Q4
Current $251.14
7
WCCWESCO INTL INC
Industrials·Industrial Distribution
6.64%
of portfolio
Number of shares
1,503,180 sh
Holdings current value
$317.92M
Avg closing price
$165.07
+93.3%
Last action
Trimmed 5.3%
2025Q4
Current $319.06
8
DGDOLLAR GEN CORP NEW
Consumer Defensive·Discount Stores
5.75%
of portfolio
Number of shares
2,666,876 sh
Holdings current value
$275.62M
Avg closing price
$102.70
+23.3%
Last action
Trimmed 18.5%
2025Q4
Current $126.68
9
FERGFERGUSON ENTERPRISES INC
Industrials·Industrial Distribution
5.42%
of portfolio
Number of shares
1,155,500 sh
Holdings current value
$259.50M
Avg closing price
$174.61
+49.2%
Last action
Trimmed 1.6%
2025Q4
Current $260.49
10
G61188127LIBERTY GLOBAL LTD
5.31%
of portfolio
Number of shares
21,657,803 sh
Holdings current value
$254.48M
Avg closing price
$18.64
Last action
Trimmed 3.4%
2025Q4
Current —
11
FISFIDELITY NATL INFORMATION SV
Technology·Information Technology Services
5.22%
of portfolio
Number of shares
3,789,711 sh
Holdings current value
$249.89M
Avg closing price
$70.51
-31.2%
Last action
Added 23.2%
2025Q4
Current $48.50
12
EXPEAGLE MATLS INC
Basic Materials·Building Materials
4.57%
of portfolio
Number of shares
939,660 sh
Holdings current value
$218.98M
Avg closing price
$237.87
-15.4%
Last action
Added 35.4%
2025Q4
Current $201.28
13
GPCGENUINE PARTS CO
Consumer Cyclical·Auto Parts
4.04%
of portfolio
Number of shares
1,395,000 sh
Holdings current value
$193.35M
Avg closing price
$133.01
-14.4%
Last action
Added 7.0%
2025Q4
Current $113.79
14
GDSGDS HLDGS LTDADR
Technology·Information Technology Services
2.63%
of portfolio
Number of shares
3,249,952 sh
Holdings current value
$125.77M
Avg closing price
$7.67
+482.4%
Last action
Trimmed 5.9%
2025Q4
Current $44.70
15
FISVFISERV INC
2.41%
of portfolio
Number of shares
895,000 sh
Holdings current value
$115.39M
Avg closing price
$93.21
-31.4%
Last action
Added
2025Q4
Current $63.97
16
G4412G101HERBALIFE NUTRITION LTD
1.37%
of portfolio
Number of shares
7,759,844 sh
Holdings current value
$65.49M
Avg closing price
$10.57
Last action
Added 24.0%
2025Q4
Current —
17
G61188101LIBERTY GLOBAL LTD
1.21%
of portfolio
Number of shares
5,076,762 sh
Holdings current value
$58.18M
Avg closing price
$17.77
Last action
Trimmed 37.1%
2025Q4
Current —
18
COLDAMERICOLD RLTY TRREIT
Real Estate·REIT - Industrial
0.92%
of portfolio
Number of shares
3,600,000 sh
Holdings current value
$44.06M
Avg closing price
$12.24
+4.6%
Last action
Trimmed 3.3%
2025Q4
Current $12.80
19
G68707101PAGSEGURO DIGITAL LTD
0.52%
of portfolio
Number of shares
2,500,000 sh
Holdings current value
$25.00M
Avg closing price
$9.64
Last action
Exited
2025Q4
Current —
20
HLF 4.25 06/15/28HERBALIFE LTD
0.33%
of portfolio
Number of shares
17,129,000 sh
Holdings current value
$15.83M
Avg closing price
$0.73
Last action
Exited
2025Q4
Current —
21
TBNTAMBORAN RES CORP
0.33%
of portfolio
Number of shares
570,833 sh
Holdings current value
$15.63M
Avg closing price
$20.32
+76.0%
Last action
Trimmed 35.5%
2025Q4
Current $35.76
22
CABO 1.125 03/15/28CABLE ONE INC
0.25%
of portfolio
Number of shares
14,100,000 sh
Holdings current value
$12.07M
Avg closing price
$0.86
Last action
Exited
2025Q4
Current —

Portfolio heatmap

Box size = % of portfolio · color = return since filing
QSR
11.05% · +22.1%
GOOG
9.45% · +39.4%
ELV
8.90% · -0.0%
CRH PLC
8.47%
WILLIS TOWERS WATSON PLC LTD
7.85%
UNP
7.38% · +6.2%
WCC
6.64% · +50.9%
DG
5.75% · +22.6%
FERG
5.42% · +16.0%
LIBERTY GLOBAL LTD
5.31%
FIS
5.22% · -26.4%
EXP
4.57% · -13.6%
GPC
4.04% · -17.9%
GDS
2.63% · +15.5%
FISV
2.41% · -50.4%
HERBALIFE NUTRITION LTD
1.37%
LIBERTY GLOBAL LTD
1.21%
COLD
0.92% · +4.6%
PAGSEGURO DIGITAL LTD
0.52%
HLF 4.25 06/15/28
0.33%
TBN
0.33% · +30.6%
CABO 1.125 03/15/28
0.25%

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.
  • Industrials3 pos$931.1M27.0%
  • Consumer Cyclical2 pos$722.7M21.0%
  • Communication Services1 pos$452.6M13.1%
  • Healthcare1 pos$426.2M12.4%
  • Technology2 pos$375.7M10.9%
  • Consumer Defensive1 pos$275.6M8.0%
  • Basic Materials1 pos$219.0M6.4%
  • Real Estate1 pos$44.1M1.3%
(28.1% unclassified, excluded from %)