Seth Klarman
Baupost Group
Runs Baupost and wrote Margin of Safety. A patient value investor who often holds a large part of the fund outside listed US stocks.
13F portfolio value
Q2 2026
$5.42B
1-year growth
+31.6%
2-year growth
+53.4%
Positions
23
Top 10 share
74.9%
Quarterly turnover
12.5%
Last filed
Aug 13, 2026
Q2 2026: summary
MakklerAI- AMZN shares rose 20%; its portfolio weight increased to 16.5% from 12.7% in the prior quarter.
- GPC shares rose 89% to a 6.1% weight, while NCLH more than doubled to 3.0%; CME was a new 2.5% position.
- WCC was cut 53.9% but remained a 4.2% holding; WTW and PCVX were sold out.
- The $5.4B portfolio held 23 positions, with 74.9% in its top 10; turnover was 12.5%, with 3 new, 6 added, 9 reduced and 2 exited positions.
PROStill at the same price?
A 13F arrives 45 days late. See the estimated buy price of the other 21 positions, the move since, and where each stands against Makkler Fair Value with MakklerPRO.
AMZNAmazon.com, Inc.16.5%+20.0%- Price
- $258.58
- Since est. buy
- +3.0%
- Fair Value gap
- +100%
ELVElevance Health, Inc.9.1%Unchanged- Price
- $425.27
- Since est. buy
- +14.7%
- Fair Value gap
- +34.4%
QSRRestaurant Brands International, Inc.9.0%-16.4%- Price
- $71.27
- Since est. buy
- Fair Value gap
GOOGAlphabet Inc. Class C9.0%+16.2%- Price
- $349.52
- Since est. buy
- Fair Value gap
FERGFerguson Enterprises Inc.6.4%+0.6%- Price
- $222.86
- Since est. buy
- Fair Value gap
GPCGenuine Parts Company6.1%+89.0%- Price
- $130.71
- Since est. buy
- Fair Value gap
UNPUnion Pacific Corporation6.0%-23.1%- Price
- $282.36
- Since est. buy
- Fair Value gap
VVisa Inc. Class A4.4%Unchanged- Price
- $396.06
- Since est. buy
- Fair Value gap
WCCWESCO International, Inc.4.2%-53.9%- Price
- $362.94
- Since est. buy
- Fair Value gap
AONAon Plc Class A4.2%-10.7%- Price
- $274.71
- Since est. buy
- Fair Value gap
TFXTeleflex Incorporated3.3%-11.7%- Price
- $124.44
- Since est. buy
- Fair Value gap
NCLHNorwegian Cruise Line Holdings Ltd.3.0%+113%- Price
- $15.32
- Since est. buy
- Fair Value gap
MOHMolina Healthcare, Inc.2.7%Unchanged- Price
- $209.50
- Since est. buy
- Fair Value gap
CMECME Group Inc. Class A2.5%New- Price
- $278.03
- Since est. buy
- Fair Value gap
HLFHerbalife Ltd.2.2%Unchanged- Price
- $14.21
- Since est. buy
- Fair Value gap
EXPEagle Materials Inc.2.2%-40.5%- Price
- $163.95
- Since est. buy
- Fair Value gap
GDSGds Holdings Ltd - Adr2.1%+23.8%- Price
- $29.60
- Since est. buy
- Fair Value gap
COLDAmericold Realty Trust, Inc.2.0%-12.2%- Price
- $13.95
- Since est. buy
- Fair Value gap
- LILiberty Global LtdLiberty Global Ltd1.7%-36.2%
- Price
- —
- Since est. buy
- Fair Value gap
AEROGrupo Aeromexico Sab De Cv1.6%Unchanged- Price
- $15.88
- Since est. buy
- Fair Value gap
- AXAxalta Coating Sys LtdAxalta Coating Sys Ltd0.8%New
- Price
- —
- Since est. buy
- Fair Value gap
DNOWDNOW Inc.0.7%-23.1%- Price
- $15.37
- Since est. buy
- Fair Value gap
PSPershing Square Inc.0.2%New- Price
- $47.65
- Since est. buy
- Fair Value gap
Values are US dollar amounts as of the filing. The estimated buy price is the quarter's average close; Fair Value is the same model as on Makkler's stock pages.
MakklerAI
Ask MakklerAI about Seth Klarman's portfolio
Explore this quarter's moves and where each position stands against its estimated buy price and Makkler Fair Value. Answers are based on the 13F and today's prices.