Seth Klarman
Baupost Group
Baupost Group Portfolio 13F
Seth Klarman Holdings Activity
- Portfolio value:
- $5.28B≈ (+$488M≈)
- Previous value:
- $4.79B≈
- # of changes:
- 23
- New positions:
- 3
- Reported for:
- 31 Dec 2025 (Q4)
- Latest filing date:
- 13 Feb 2026
Baupost Group has disclosed a total of 23 changes to the portfolio in the (2025 Q4) SEC report(s): increased the number of shares of 7, bought 3 totally new, decreased the number of shares of 12 and completely sold out 1 position(s).
What stocks did Seth Klarman buy in 2025 Q4?
During 2025 Q4 Seth Klarman has bought 10 securities out of which top 5 purchases (by % change to portfolio) were (AMZN) Amazon.com Inc (new buy), (WTW) Willis Towers Watson PLC (added shares +24.66%), (UNP) Union Pacific Corp (added shares +8.76%), (FIS) Fidelity National Information Services Inc (added shares +18.84%) and (EXP) Eagle Materials Inc (added shares +26.14%).
In the 2025 Q4 report(s) the following changes have been made to the top investments: (QSR) Restaurant Brands International Inc (reduced shares -2.09%), (AMZN) Amazon.com Inc (new buy), (WTW) Willis Towers Watson PLC (added shares +24.66%), (ELV) Elevance Health Inc (reduced shares -3.77%) and (UNP) Union Pacific Corp (added shares +8.76%).
23 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
Amazon.com Inc
|
new
|
+2,121,391
|
2,121,391
|
+9.28%
|
$230.82
|
+17.43%($271.05)
|
9.28%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
Grupo Aeromxico, S.A.B. de C.V
|
new
|
+4,855,180
|
4,855,180
|
+2.02%
|
$21.96
|
-29.78%($15.42)
|
2.02%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
Molina Healthcare Inc
|
new
|
+625,000
|
625,000
|
+2.05%
|
$173.54
|
+11.96%($194.29)
|
2.05%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
Fiserv, Inc
|
+145.81%
|
+1,305,000
|
2,200,000
|
+1.66%
|
$67.17
|
-20.32%($53.52)
|
2.80%
|
2025 Q2
|
≈ 0.75 years
|
|
|
|
Eagle Materials Inc
|
+26.14%
|
+245,588
|
1,185,248
|
+0.96%
|
$206.68
|
-0.23%($206.21)
|
4.64%
|
2024 Q1
|
≈ 2.00 years
|
|
|
|
Willis Towers Watson PLC
|
+24.66%
|
+268,536
|
1,357,601
|
+1.67%
|
$328.60
|
+1.55%($333.68)
|
8.45%
|
2021 Q1
|
≈ 5.00 years
|
|
|
|
HERBALIFE LTD
|
+19.33%
|
+1,500,000
|
9,259,844
|
+0.37%
|
$12.89
|
-4.27%($12.34)
|
2.26%
|
2022 Q4
|
≈ 3.25 years
|
|
|
|
Fidelity National Information Services Inc
|
+18.84%
|
+714,090
|
4,503,801
|
+0.9%
|
$66.46
|
-32.91%($44.59)
|
5.67%
|
2025 Q1
|
≈ 1.00 year
|
|
|
|
Union Pacific Corp
|
+8.76%
|
+131,050
|
1,627,254
|
+0.57%
|
$231.32
|
+26.12%($291.75)
|
7.13%
|
2025 Q3
|
≈ 0.50 years
|
|
|
|
Genuine Parts Co
|
+6.53%
|
+91,088
|
1,486,088
|
+0.21%
|
$122.96
|
+1.33%($124.60)
|
3.46%
|
2025 Q3
|
≈ 0.50 years
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.