Seth Klarman of Baupost Group manages a 13F portfolio worth more than $5.2 billion at the end of the fourth quarter of 2025. The top holdings in his equity portfolio are concentrated in the consumer cyclical, technology, and industrial sectors.In May 2025, Klarman sat down for a conversation with Goldman Sachs President and COO John Waldron, discussing the ways in which his value-oriented investment philosophy was playing out in the stock market. During the talk, Klarman underlined the basic margin of safet ...