What Seth Klarman Bought in Q4 2025
Baupost Group · Quarterly 13F recap as filed with the SEC.
Period: 2025-12-31 · Filed · Historical
$5.28B
Total Value
22
Holdings
3
New Buys
14
Reduced
In Q4 2025, Seth Klarman reported 22 long equity positions worth $5.28B in their Baupost Group 13F filing, including 3 new positions (largest: AMAZON COM INC at $489.7M) and 5 increased positions.
| Rank | Ticker | Company | Shares | Value | % Portfolio | Change |
|---|---|---|---|---|---|---|
| 1 | QSR | RESTAURANT BRANDS INTL INC | 8080112 | $551.3M | 10.44% | -2.1% |
| 2 | AMZN | AMAZON COM INC | 2121391 | $489.7M | 9.28% | NEW |
| 3 | WTW | WILLIS TOWERS WATSON PLC LTD | 1357601 | $446.1M | 8.45% | +24.7% |
| 4 | ELV | ELEVANCE HEALTH INC FORMERLY | 1269302 | $445.0M | 8.43% | -3.8% |
| 5 | UNP | UNION PAC CORP | 1627254 | $376.4M | 7.13% | +8.8% |
| 6 | WCC | WESCO INTL INC | 1418831 | $347.1M | 6.58% | -5.6% |
| 7 | GOOG | ALPHABET INC | 1087181 | $341.2M | 6.46% | -41.5% |
| 8 | FIS | FIDELITY NATL INFORMATION SV | 4503801 | $299.3M | 5.67% | +18.8% |
| 9 | DG | DOLLAR GEN CORP NEW | 2062821 | $273.9M | 5.19% | -22.7% |
| 10 | FERG | FERGUSON ENTERPRISES INC | 1137035 | $253.1M | 4.80% | -1.6% |
| 11 | EXP | EAGLE MATLS INC | 1185248 | $245.0M | 4.64% | 26.1% |
| 12 | LBTYK | LIBERTY GLOBAL LTD | 20884781 | $230.6M | 4.37% | -3.6% |
| 13 | GPC | GENUINE PARTS CO | 1486088 | $182.7M | 3.46% | +6.5% |
| 14 | FISV | FISERV INC | 2200000 | $147.8M | 2.80% | 145.8% |
| 15 | CRH | CRH PLC | 1072957 | $133.9M | 2.54% | -68.3% |
| 16 | HLF | HERBALIFE LTD | 9259844 | $119.4M | 2.26% | +19.3% |
| 17 | MOH | MOLINA HEALTHCARE INC | 625000 | $108.5M | 2.05% | NEW |
| 18 | AERO | GRUPO AEROMEXICO SAB DE CV | 4855180 | $106.6M | 2.02% | NEW |
| 19 | GDHLF | GDS HLDGS LTD | 3044818 | $106.3M | 2.01% | -6.3% |
| 20 | COLD | AMERICOLD REALTY TRUST INC | 3475685 | $44.7M | 0.85% | -3.5% |
| 21 | LBTYK | LIBERTY GLOBAL LTD | 2080456 | $23.2M | 0.44% | -59.0% |
| 22 | TBNRL | TAMBORAN RES CORP | 257226 | $7.0M | 0.13% | -54.9% |