Seth Klarman Portfolio Update: December 2025 Holdings Revealed

Seth Klarman's Baupost Group portfolio, valued at $5.17 million as of December 31, 2025, reflects strategic adjustments across several holdings.

Klarman's position in Amazon (AMZN) saw a massive increase, with shares rising by 120.07% during the period. Conversely, the investment in Alphabet (GOOG) experienced a substantial reduction, decreasing by 41.49%.

Other notable changes include a significant increase in Willis Towers Watson PLC (WTW), which grew by 24.66%, and a new position in Restaurant Brands International (QSR), representing a fresh allocation. Holdings like Elevance Health (ELV) and WESCO International (WCC) also saw notable increases.

On the decrease side, besides Alphabet, Dollar General (DG) and Ferguson Enterprises (FERG) experienced significant reductions. Several other holdings, including QSR, UNP, FIS, and DG, maintained their portfolio weightings relatively unchanged.

For detailed analysis of each holding, please refer to the holdings breakdown.