Seth Klarman
A contrarian streak married to a calculator. Puts "don't lose money" before making it, holds cash patiently, and swings only with a real margin of safety.
Founded The Baupost Group in 1982, now managing ~$30B. Author of the value-investing bible Margin of Safety (out of print, $1,000+ used). Known for extreme risk-aversion and holding large cash piles awaiting his pitch — often called 'the Boston Buffett.'
Baupost files a 13F (≈45-day lag). Klarman wrote the legendary out-of-print Margin of Safety. Note: the 13F shows only listed-equity longs — much of his capital sits in cash, distressed debt, and special situations not captured here.
Holdings & weights
Q2 2026 · 13F (as of 30 Jun 2026)Weights are by market value, from real 13F / daily disclosure. This is a snapshot and will change — see live: Live 13F weights & activity on dataroma
A top holding among his listed-equity longs.
Analyze through a master's lensA cash-generative franchise brand.
Analyze through a master's lensWESCO International Inc. −54%, Aon Plc −11%, Teleflex −12%, Norwegian Cruise Line Hlgs Ltd. +113%, new CME Group, Eagle Materials Inc. −41%, GDS Holdings Ltd +24%, Americold Realty Trust −12%.
In their own words
Value investing is the marriage of a contrarian streak and a calculator.
Value investing requires hard work, unusually strict discipline, and a long-term horizon.
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
Run any stock you care about through the "Quantitative · Margin of Safety" lens.
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