Baupost Seth Klarman
Holdings as of the end of Q1 2026, reported in its 13F filing on May 14, 2026; changes vs Q4 2025. Source
Reported value
$5.1B
at quarter-end prices
Positions
22
top 10 are 74% of it
Bought · Q1 2026
9
6 new, 3 added 20%+
Sold · Q1 2026
9
6 sold out, 3 cut 20%+
Holdings 22
| # | Stock | Company | Shares | Value | Of portfolio | Shares vs Q4 2025 |
|---|---|---|---|---|---|---|
| 1 | AMZN | AMAZON COM INC | 3,118,754 | $649.5M | 12.7% | +47% |
| 2 | QSR | RESTAURANT BRANDS INTL INC | 8,080,112 | $597.2M | 11.7% | — |
| 3 | WCC | WESCO INTL INC | 1,436,881 | $393.2M | 7.7% | +1% |
| 4 | UNP | UNION PAC CORP | 1,540,995 | $373.9M | 7.3% | -5% |
| 5 | ELV | ELEVANCE HEALTH INC FORMERLY | 1,275,154 | $373.3M | 7.3% | — |
| 6 | GOOG | ALPHABET INC | 1,181,131 | $338.8M | 6.6% | +9% |
| 7 | FERG | FERGUSON ENTERPRISES INC | 1,442,411 | $336.5M | 6.6% | +27% |
| 8 | WTW | WILLIS TOWERS WATSON PLC LTD | 893,126 | $259.6M | 5.1% | -34% |
| 9 | AON | AON PLC | 769,000 | $248.2M | 4.9% | new |
| 10 | V | VISA INC | 701,355 | $212M | 4.1% | new |
| 11 | TFX | TELEFLEX INCORPORATED | 1,595,000 | $190.8M | 3.7% | new |
| 12 | EXP | EAGLE MATLS INC | 892,763 | $169.1M | 3.3% | -25% |
| 13 | GPC | GENUINE PARTS CO | 1,490,348 | $157.6M | 3.1% | — |
| 14 | — | LIBERTY GLOBAL LTD | 13,397,247 | $157.2M | 3.1% | -36% |
| 15 | HLF | HERBALIFE LTD | 9,259,844 | $136.3M | 2.7% | — |
| 16 | GDS | GDS HLDGS LTD | 3,044,818 | $122.7M | 2.4% | — |
| 17 | COLD | AMERICOLD REALTY TRUST INC | 7,780,800 | $89.2M | 1.7% | +124% |
| 18 | MOH | MOLINA HEALTHCARE INC | 633,609 | $84.5M | 1.7% | +1% |
| 19 | AERO | GRUPO AEROMEXICO SAB DE CV | 4,880,188 | $68.4M | 1.3% | +1% |
| 20 | — | NORWEGIAN CRUISE LINE HLDGS | 3,630,000 | $67.9M | 1.3% | new |
| 21 | PCVX | VAXCYTE INC | 800,000 | $46.5M | 0.91% | new |
| 22 | DNOW | DNOW INC | 3,625,000 | $43.2M | 0.84% | new |
Sold out in Q1 2026 6
| Stock | Company | Shares held in Q4 2025 | Value then | Of portfolio then |
|---|---|---|---|---|
| FIS | FIDELITY NATL INFORMATION SV | 4,503,801 | $299.3M | 5.7% |
| DG | DOLLAR GEN CORP NEW | 2,062,821 | $273.9M | 5.2% |
| FISV | FISERV INC | 2,200,000 | $147.8M | 2.8% |
| — | CRH PLC | 1,072,957 | $133.9M | 2.5% |
| — | LIBERTY GLOBAL LTD | 2,080,456 | $23.2M | 0.44% |
| TBN | TAMBORAN RES CORP | 257,226 | $7M | 0.13% |
13F filings list US-listed long positions (stocks and ADRs) at the quarter's end: no shorts, cash, bonds or foreign shares; options and principal amounts are left out here. Trades made after the quarter ended don't show until the next filing. Changes compare share counts with the quarter before (splits can show as adds). Not investment advice.