Seth Klarman Portfolio April 2026 - Top Holdings & 13F Analysis
Analysis of Seth Klarman's April 2026 13F portfolio with 20 holdings worth $5.3B. +15.7% 1-year return.
In This Article
- 1.About Seth Klarman and BAUPOST GROUP LLC/MA
- 2.Seth Klarman's Top 10 Holdings — April 2026
- 3.Portfolio Strategy & Concentration Analysis
- 4.New Positions Added in April 2026
- 5.Best Performing Holdings in Seth Klarman's Portfolio
- 6.Understanding Seth Klarman's 13F Filing
- 7.How Retail Investors Can Use This Information
- 8.Other Top Investors to Follow
Portfolio Value
$5.28B
Total Holdings
20
1-Year Return
+15.7%
New Positions
3
About Seth Klarman and BAUPOST GROUP LLC/MA
Seth Klarman is the portfolio manager at BAUPOST GROUP LLC/MA, one of the closely tracked institutional investors in our database. Every quarter, institutional investment managers with over $100 million in assets under management are required to file a 13F report with the SEC, disclosing their long equity positions. These filings give retail investors a rare window into how professional money managers are allocating capital.
As of April 2026, Seth Klarman's 13F portfolio contains 20 positions with a disclosed market value of approximately $5.28 billion. This analysis covers their top holdings, recent portfolio changes, and key investment themes.
Over the past year, Seth Klarman's portfolio has delivered a +15.7% return, significantly outperforming the broader market.
Seth Klarman's Top 10 Holdings — April 2026
The following table shows Seth Klarman's largest disclosed stock positions ranked by portfolio weight as reported in the most recent 13F filing. These represent the highest-conviction bets in the portfolio:
| # | Company | Ticker | Portfolio Weight | Market Value | Performance |
|---|---|---|---|---|---|
| 1 |
RESTAURANT BRANDS INTL INC
|
QSR | 10.44% | $551.3M | +6.4% |
| 2 |
AMAZON COM INC
NEW
ADDED
|
AMZN | 9.28% | $489.7M | — |
| 3 |
WILLIS TOWERS WATSON PLC LTD
ADDED
|
WTW | 8.45% | $446.1M | -4.9% |
| 4 |
ELEVANCE HEALTH INC FORMERLY
|
ELV | 8.43% | $445.0M | +8.5% |
| 5 |
UNION PAC CORP
|
UNP | 7.13% | $376.4M | -2.1% |
| 6 |
WESCO INTL INC
|
WCC | 6.58% | $347.1M | +15.7% |
| 7 |
ALPHABET INC
|
GOOG | 6.46% | $341.2M | +28.8% |
| 8 |
FIDELITY NATL INFORMATION SV
ADDED
|
FIS | 5.67% | $299.3M | +0.8% |
| 9 |
DOLLAR GEN CORP NEW
|
DG | 5.19% | $273.9M | +28.5% |
| 10 |
FERGUSON ENTERPRISES INC
|
FERG | 4.80% | $253.1M | -0.9% |
Data sourced from SEC 13F filings. Holdings reflect disclosed long equity positions. Options and short positions may not be reflected.
Portfolio Strategy & Concentration Analysis
Seth Klarman's investment approach reflects a moderately concentrated portfolio strategy. The top position, RESTAURANT BRANDS INTL INC (QSR), represents 10.4% of the total portfolio, while the top 5 holdings collectively account for 43.7% of disclosed assets.
During this period, Seth Klarman initiated 3 new positions — a signal that they identified compelling entry points in new opportunities. New positions often represent the highest-conviction ideas as managers dedicate fresh capital to them.
Additionally, Seth Klarman increased stakes in 7 existing positions, a sign of growing conviction in those holdings.
New Positions Added in April 2026
The following stocks represent new entries in Seth Klarman's portfolio — positions that were not present in the prior quarter's 13F filing. New positions are closely watched by investors as they signal fresh conviction:
Best Performing Holdings in Seth Klarman's Portfolio
Based on available performance data, the following positions have been the strongest contributors to Seth Klarman's portfolio returns:
Understanding Seth Klarman's 13F Filing
A 13F filing is a quarterly disclosure required by the SEC for institutional investment managers that exercise discretion over $100 million or more in qualifying securities. These filings must be submitted within 45 days of the end of each calendar quarter.
Important caveats about 13F data:
- Data is delayed by up to 45 days from the end of the quarter
- Only long equity positions are disclosed — short positions are not required
- Options positions are disclosed separately and may indicate hedging strategies
- The portfolio may have changed significantly since the filing date
- Not all positions need to be disclosed (some confidentiality provisions exist)
Despite these limitations, 13F filings remain one of the best public sources of information on how professional investors are positioning their portfolios. Use this data as one input among many, alongside your own research and risk tolerance.
How Retail Investors Can Use This Information
Following institutional 13F filings like Seth Klarman's can provide valuable investment insights — but it's important to use this information correctly:
- Identify high-conviction ideas: Large positions and new entries signal where managers have the strongest conviction.
- Spot emerging themes: Cross-portfolio analysis reveals sector rotations and macro themes playing out across institutional money.
- Validate your own research: If an investor you respect owns a stock you're analyzing, that can reinforce your thesis.
- Track changes over time: Watching a manager increase or decrease positions over multiple quarters shows conviction trends.
- Don't blindly copy trades: Remember that institutional investors have different time horizons, risk tolerances, and information than retail investors.
You can track Seth Klarman's complete portfolio in real-time on Insider Edges, including historical holdings, sector breakdown, and performance data.
Other Top Investors to Follow
If you track Seth Klarman's portfolio, you may also be interested in following these other closely watched institutional investors:
Track Seth Klarman's Portfolio in Real-Time
Get notified when new 13F filings drop, access the complete holdings breakdown, and track portfolio changes over time with Insider Edges.
Track Seth Klarman's Full Portfolio
View all holdings, recent trades, and performance data for BAUPOST GROUP LLC/MA
Get Monthly Hedge Fund Alerts
Be the first to know when new 13F filings drop and get monthly portfolio analysis straight to your inbox.
Related Articles
Analysis of Yijun Liu's April 2026 13F portfolio with 6 holdings worth $0.8B. +43.7% 1-year return.
Apr 2, 2026
Analysis of William Harnisch's April 2026 13F portfolio with 15 holdings worth $4.2B. +51.7% 1-year return.
Apr 2, 2026
Analysis of Warren Buffett's April 2026 13F portfolio with 20 holdings worth $274.2B. +9.8% 1-year return.
Apr 2, 2026
Analysis of Tweedy Browne's April 2026 13F portfolio with 20 holdings worth $1.2B. +25.5% 1-year return.
Apr 2, 2026