Seth Klarman · quarter digest

What Seth Klarman did in Q1 2026

Baupost Group filed 12 moves in Q1 2026: 3 new, 3 add, 2 trim, 4 exit.

13F filed 2026-05-15. Manager quality score: q9. Philosophy: Margin of safety. Cash is a position. Patience pays.

New positions · 3

Fresh money

AONAON PLC

NEW·4.9% book·−16

VVISA INC

NEW·4.1% book·−10

DNOWDNOW INC

NEW·0.8% book·−11

Adds · 3

AMZNAMAZON COM INC

ADD +47%·12.7% book·−13

GOOGALPHABET INC

ADD +9%·6.6% book·−1

FERGFERGUSON ENTERPRISES INC

ADD +27%·6.6% book·−10

Trims · 2

WTWWILLIS TOWERS WATSON PLC LTD

TRIM -34%·5.1% book·−6

LBTYKLIBERTY GLOBAL LTD

TRIM -42%·3.1% book·−8

Exits · 4

FNFFIDELITY NATL INFORMATION SV

EXIT·0.0% book·−7

DGDOLLAR GEN CORP NEW

EXIT·0.0% book·−6

FEFISERV INC

EXIT·0.0% book·−9

CRHCRH PLC

EXIT·0.0% book·−11

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.