Seth Klarman · quarter digest

What Seth Klarman did in Q4 2024

Baupost Group filed 11 moves in Q4 2024: 1 new, 4 add, 4 trim, 2 exit.

13F filed 2025-02-14. Manager quality score: q9. Philosophy: Margin of safety. Cash is a position. Patience pays.

New positions · 1

Fresh money

FERGFERGUSON ENTERPRISES INC

NEW·5.7% book·−10

Adds · 4

WCCWESCO INTL INC

ADD +14%·7.6% book·−7

QSRRESTAURANT BRANDS INTL INC

ADD +10156%·5.5% book·−4

ADD +28%·5.0% book·+1

“Major Vistra add — start of the multi-quarter build.”

HLFHERBALIFE LTD

ADD +48%·1.5% book·−10

Trims · 4

LBTYKLIBERTY GLOBAL LTD

TRIM -10%·17.0% book·−8

TRIM -8%·13.5% book·−3

“Small Warner Bros trim.”

CLVTCLARIVATE PLC

TRIM -7%·5.4% book·−5

DGDOLLAR GEN CORP NEW

TRIM -11%·4.5% book·−6

Exits · 2

FNFFIDELITY NATL INFORMATION SV

EXIT·0.0% book·−7

JJACOBS SOLUTIONS INC

EXIT·0.0% book·−6

Current top holdings

#	Ticker	Weight	Conviction
1	LBTYK Liberty Global Class C	14.3%	−8
2	WBD Warner Bros. Discovery	11.8%	−3
3	VST Vistra Corp	9.6%	+1
4	FNF Fidelity National Financial	7.1%	−7
5	VTRS Viatris	5.4%	0
6	ALLY Ally Financial	4.8%	−2

Other quarters for Seth Klarman

Not investment advice. Data from 13F filings with HoldLens parsing. Methodology.