Seth Klarman

Biography

Seth Klarman co-founded the Baupost Group in Boston in 1982, after graduating from Harvard Business School, with Harvard professor William Poorvu and others, starting with $27 million; he has overseen the firm's investments since then. He had earlier worked as an analyst at Mutual Shares, where he met Max Heine and Michael Price. He wrote Margin of Safety (1991) and edited the seventh edition of Graham and Dodd's Security Analysis; he follows Benjamin Graham's value approach, buying out-of-favour and distressed assets and often holding large amounts of cash.

In their own words

Baupost Group’s largest US holdings

From the Q2 2026 13F, worth $5.4bn in total. See every holding and change

1. Amazon.comAMZN16.5%
2. Elevance HealthELV9.1%
3. Restaurant Brands InternationalQSR9.0%
4. AlphabetGOOG8.9%
5. Ferguson EnterprisesFERG6.4%
6. Genuine PartsGPC6.1%
7. Union PacificUNP6.0%
8. VisaV4.4%
9. WESCO InternationalWCC4.2%
10. AonAON4.2%