Smart Money Radar / Whales / Seth Klarman
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Seth Klarman

The Baupost Group LLC · Holdings as of Dec 31, 2024, filed by Feb 15, 2025 · US long stock positions only

Deep value in unusual places. Much of the book never shows in filings.

Reported value
$3B
21 positions shown
Copycat since 2016
1.43x
4% per year · low coverage
vs SPY
behind
SPY 3.57x same window
Top position
WTW
17% of book

Copying these filings vs SPY

$1 at every deadline since 2016
SPY 3.57x Seth Klarman 1.43x
Price returns, dividends excluded on both lines. A copycat of public filings traded at each deadline, not the fund's actual performance. Only 66% of this book is priceable; read the line loosely.
Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Dec 2024 Sep 2024 Jun 2024 Mar 2024 Dec 2023 Sep 2023 Jun 2023

The book

tile = share of the filed book · tap a tile for the ticker · Dec 2024
WTW 17%
unlisted 15%
GOOG 8% WCC 8%
unlisted 7%
FERG 6% QSR 6% CLVT 5% EXP 5% DG 5% VSAT 3% GDS 3% SNNRF 3% SOLV 3% HUM 3%
+6 more 5%
SymbolValue% of bookvs prior quarter
WTW $575M 17% added
unlisted $518M 15% trimmed
GOOG $272M 8% trimmed
WCC $260M 8% added
unlisted $244M 7% unchanged
FERG $196M 6% new
QSR $189M 6% added
CLVT $184M 5% trimmed
EXP $157M 5% added
DG $156M 5% trimmed
VSAT $104M 3% unchanged
GDS $101M 3% unchanged
SNNRF $101M 3% new
SOLV $96M 3% trimmed
HUM $88M 3% new
unlisted $66M 2% trimmed
HLF $51M 1% added
GPC $37M 1% new
LBRDK $13M 0% unchanged
TBN $12M 0% unchanged
LBRDA $562K 0% unchanged
Positions built under SEC confidential treatment appear only after the SEC releases them. Cash, foreign listings and shorts never appear in these filings.