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Seth Klarman

Baupost Group · Deep value

Sign in to save13F data may be delayed up to 45 days
Latest filingQ4 2025· filed Feb 13, 2026· report period Dec 31, 2025
View on SEC EDGAR ↗
For educational research only.InvestorLens shows public SEC filings that may be delayed by up to 45 days. Nothing on this site is financial advice or a recommendation to buy or sell any security. Always do your own research.

About

Founder of Baupost Group. Author of "Margin of Safety" and a leading proponent of value investing.

AI summaryPlain-English placeholder · not financial advice

In their Q4 2025 13F filing, Baupost Group (Seth Klarman) opened new positions in 02079K107, 03064D108, 23135106, 256677105 and 26969P108 (+17 more). These movements are based on public regulatory filings and may indicate portfolio rebalancing, profit-taking, or risk management — not necessarily a directional view on the underlying companies. Because 13F filings are delayed by up to 45 days, this should not be treated as real-time investment advice. Always do your own research.

Top 10 holdings

  1. 1.
    Ticker unavailableCUSIP 76131D103
    RESTAURANT BRANDS INTL INC
    $551.3M
    10.4%
  2. 2.
    AMZN
    AMAZON COM INC
    $489.7M
    9.3%
  3. 3.
    WTW
    WILLIS TOWERS WATSON PLC LTD
    $446.1M
    8.5%
  4. 4.
    ELV
    ELEVANCE HEALTH INC FORMERLY
    $445M
    8.4%
  5. 5.
    Ticker unavailableCUSIP 907818108
    UNION PAC CORP
    $376.4M
    7.1%
  6. 6.
    Ticker unavailableCUSIP 95082P105
    WESCO INTL INC
    $347.1M
    6.6%
  7. 7.
    GOOGL
    ALPHABET INC
    $341.2M
    6.5%
  8. 8.
    Ticker unavailableCUSIP 31620M106
    FIDELITY NATL INFORMATION SV
    $299.3M
    5.7%
  9. 9.
    Ticker unavailableCUSIP 256677105
    DOLLAR GEN CORP NEW
    $273.9M
    5.2%
  10. 10.
    FERG
    FERGUSON ENTERPRISES INC
    $253.1M
    4.8%

New positions

  • FERGNew
  • Ticker unavailableCUSIP 256677105New
  • Ticker unavailableCUSIP 26969P108New
  • ELVNew
  • Ticker unavailableCUSIP 31620M106New

Increased

No increased positions.

Reduced

No reduced positions.

Sold out

No exited positions.

Current holdings

Portfolio total: $5.3B

TickerCompanySharesMarket valuePortfolio %Δ SharesStatus
Ticker unavailableCUSIP 76131D103RESTAURANT BRANDS INTL INC8.1M$551.3M10.44%—New
AMZNAMAZON COM INC2.1M$489.7M9.28%—New
WTWWILLIS TOWERS WATSON PLC LTD1.4M$446.1M8.45%—New
ELVELEVANCE HEALTH INC FORMERLY1.3M$445M8.43%—New
Ticker unavailableCUSIP 907818108UNION PAC CORP1.6M$376.4M7.13%—New
Ticker unavailableCUSIP 95082P105WESCO INTL INC1.4M$347.1M6.58%—New
GOOGLALPHABET INC1.1M$341.2M6.46%—New
Ticker unavailableCUSIP 31620M106FIDELITY NATL INFORMATION SV4.5M$299.3M5.67%—New
Ticker unavailableCUSIP 256677105DOLLAR GEN CORP NEW2.1M$273.9M5.19%—New
FERGFERGUSON ENTERPRISES INC1.1M$253.1M4.80%—New
Ticker unavailableCUSIP 26969P108EAGLE MATLS INC1.2M$245M4.64%—New
LBTYALIBERTY GLOBAL LTD20.9M$230.6M4.37%—New
GPCGENUINE PARTS CO1.5M$182.7M3.46%—New
FISVFISERV INC2.2M$147.8M2.80%—New
CRHCRH PLC1.1M$133.9M2.54%—New
HLFHERBALIFE LTD9.3M$119.4M2.26%—New
MOHMOLINA HEALTHCARE INC625K$108.5M2.05%—New
Ticker unavailableCUSIP 40054J109GRUPO AEROMEXICO SAB DE CV4.9M$106.6M2.02%—New
GDSGDS HLDGS LTD3M$106.3M2.01%—New
COLDAMERICOLD REALTY TRUST INC3.5M$44.7M0.85%—New
LBTYALIBERTY GLOBAL LTD2.1M$23.2M0.44%—New
Ticker unavailableCUSIP 87507T101TAMBORAN RES CORP257.2K$7M0.13%—New

Sector breakdown

  • Unclassified100.0%

Filing history