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Seth Klarman’s Portfolio Shifts Toward Amazon and New Bets
Seth Klarman runs an investment firm called Baupost Group.
Its latest filing shows which U.S. stocks the firm owned at the end of June 2026.
Amazon was the largest holding, making up about one-sixth of the portfolio.
Elevance Health, Restaurant Brands International, Alphabet and Ferguson were also among the biggest holdings.
Baupost bought more Amazon and Alphabet shares during the quarter.
It also started small positions in CME Group, Axalta Coating Systems and Pershing Square.
The firm sold all of its shares in Willis Towers Watson and Vaxcyte.
Overall, the filing shows that Baupost is changing its biggest investments while keeping some long-standing holdings.
Baupost Group’s June 30, 2026 13F filing reported a $5.42 billion portfolio across 23 disclosed securities.
Amazon became Baupost’s largest holding at 16.48%, after the fund increased its stake by about 20.04%.
The top five holdings were Amazon, Elevance Health, Restaurant Brands International, Alphabet and Ferguson.
Baupost initiated positions in CME Group, Axalta Coating Systems and Pershing Square.
The fund exited Willis Towers Watson and Vaxcyte while sharply increasing holdings in Genuine Parts and Norwegian Cruise Line.
- Who
- Seth Klarman and Baupost Group.
- What
- Baupost changed its disclosed stock portfolio, increasing some holdings, adding three new positions and exiting two investments.
- Where
- The changes were reported in Baupost Group’s U.S. stock portfolio through a U.S. SEC filing.
- When
- The filing covered the quarter ended June 30, 2026.
- Why
- The filing does not state the specific reason for each trade; it shows how Baupost’s investment positions changed.
Key facts
- Portfolio value
- About $5.42 billion
- Disclosed securities
- 23
- Largest holding
- Amazon, at 16.48% of the portfolio
- Second-largest holding
- Elevance Health, at 9.11%
- New positions
- CME Group, Axalta Coating Systems and Pershing Square
- Complete exits
- Willis Towers Watson and Vaxcyte
- Largest reported addition
- Norwegian Cruise Line, with shares increased by 112.95%
Sources
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