Investor: Seth Klarman
Number of Assets: 22
Reporting Period: Q1 - 2026
Holdings at Report: $5,115,380,000
Return Since Report: +$499,827,608
Return Since Report: +9.77%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Restaurant Brands International Inc. (QSR) | Equity | 0% | 8,080,112 | 11.67% | $73.91 | $73.44 | $597,208,000 | $593,403,425 | -$3,804,575 | -0.64% |
| Union Pacific Corp. (UNP) | Equity | -5.30% | 1,540,995 | 7.31% | $242.62 | $256.88 | $373,876,000 | $395,850,796 | +$21,974,796 | +5.88% |
| Vaxcyte Inc. (PCVX) | Equity | +100% | 800,000 | 0.91% | $58.11 | $51.44 | $46,488,000 | $41,152,000 | -$5,336,000 | -11.48% |
| Visa Inc. (V) | Equity | +100% | 701,355 | 4.14% | $302.24 | $327.24 | $211,978,000 | $229,511,410 | +$17,533,410 | +8.27% |
| Genuine Parts Company (GPC) | Equity | +0.29% | 1,490,348 | 3.08% | $105.75 | $108.70 | $157,604,000 | $162,000,828 | +$4,396,828 | +2.79% |
| Grupo Aeromexico SAB DE CV | Equity | +0.52% | 4,880,188 | 1.34% | $14.01 | N/A | $68,371,000 | N/A | N/A | N/A |
| Herbalife Ltd. (HLF) | Equity | 0% | 9,259,844 | 2.66% | $14.72 | $11.90 | $136,305,000 | $110,192,144 | -$26,112,856 | -19.16% |
| Norwegian Cruise Line Holdings Ltd. (NCLH) | Equity | +100% | 3,630,000 | 1.33% | $18.70 | $22.72 | $67,881,000 | $82,473,600 | +$14,592,600 | +21.50% |
| Alphabet Inc. (GOOG) | Equity | +8.64% | 1,181,131 | 6.62% | $286.86 | $367.46 | $338,819,000 | $434,018,397 | +$95,199,397 | +28.10% |
| Amazon.com Inc. (AMZN) | Equity | +47.01% | 3,118,754 | 12.70% | $208.27 | $244.39 | $649,543,000 | $762,192,290 | +$112,649,290 | +17.34% |
| Americold Realty Trust Inc. (COLD) | Equity | +123.86% | 7,780,800 | 1.74% | $11.46 | N/A | $89,168,000 | N/A | N/A | N/A |
| Aon PLC (AON) | Equity | +100% | 769,000 | 4.85% | $322.78 | $317.74 | $248,218,000 | $244,342,060 | -$3,875,940 | -1.56% |
| Eagle Materials Inc. (EXP) | Equity | -24.68% | 892,763 | 3.31% | $189.45 | $224.58 | $169,134,000 | $200,496,715 | +$31,362,715 | +18.54% |
| Ferguson Enterprises Inc. (FERG) | Equity | +26.86% | 1,442,411 | 6.58% | $233.26 | $238.35 | $336,457,000 | $343,798,662 | +$7,341,662 | +2.18% |
| GDS Holdings Limited (GDS) | Equity | 0% | 3,044,818 | 2.40% | $40.29 | $31.48 | $122,676,000 | $95,850,871 | -$26,825,129 | -21.87% |
| Wesco International Inc. (WCC) | Equity | +1.27% | 1,436,881 | 7.69% | $273.62 | $365.36 | $393,159,000 | $524,978,842 | +$131,819,842 | +33.53% |
| Dnow Inc. (DNOW) | Equity | +100% | 3,625,000 | 0.84% | $11.91 | N/A | $43,174,000 | N/A | N/A | N/A |
| Elevance Health Inc. (ELV) | Equity | +0.46% | 1,275,154 | 7.30% | $292.75 | $388.50 | $373,301,000 | $495,397,329 | +$122,096,329 | +32.71% |
| Teleflex Incorporated (TFX) | Equity | +100% | 1,595,000 | 3.73% | $119.61 | $127.00 | $190,778,000 | $202,565,000 | +$11,787,000 | +6.18% |
| Liberty Global Ltd. (LBTYK) | Equity | -35.85% | 13,397,247 | 3.07% | $11.73 | $10.79 | $157,150,000 | $144,556,295 | -$12,593,705 | -8.01% |
| Molina Healthcare Inc. (MOH) | Equity | +1.38% | 633,609 | 1.65% | $133.30 | $195.37 | $84,460,000 | $123,788,190 | +$39,328,190 | +46.56% |
| Willis Towers Watson Public Limited Company (WTW) | Equity | -34.21% | 893,126 | 5.08% | $290.70 | $255.20 | $259,632,000 | $227,925,755 | -$31,706,245 | -12.21% |