Seth Klarman's Top Q3 2026 Move: Honeywell Aerospace Inc at a 3.48% Portfolio Impact GuruFocus News Fri, November 13, 2026 at 5:03 PM EST 3 min read HONA -0.49% AMZN -1.10% Trade AMZN on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Seth Klarman (Trades, Portfolio) recently submitted his 13F filing for the third quarter of 2026, offering a window into how The Baupost Group is positioned today. Klarman is a value investor and Portfolio Manager of the investment partnership he founded in 1983. The author of "Margin of Safety" holds an economics degree from Cornell University and an MBA from Harvard University. His mandate spans traditional value stocks as well as distressed debt, liquidations and foreign equities or bonds, and he is entirely comfortable "doing nothing" holding cash when opportunities are scarce.
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Seth Klarman (Trades, Portfolio) added a total of 2 stocks, among them:
The most significant addition was Honeywell Aerospace Inc (NASDAQ:HONA), with 1,132,000 shares, accounting for 3.48% of the portfolio and a total value of $175.43 million.
The second largest addition to the portfolio was SiteOne Landscape Supply Inc (NYSE:SITE), consisting of 1,245,000 shares, representing approximately 2.23% of the portfolio, with a total value of $112.44 million.
Seth Klarman (Trades, Portfolio) also increased stakes in a total of 6 stocks, among them:
The most notable increase was Axalta Coating Systems Ltd (NYSE:AXTA), with an additional 1,231,675 shares, bringing the total to 2,506,031 shares. This adjustment represents a significant 96.65% increase in share count, a 0.79% impact on the current portfolio, and a total value of $80.59 million.
The second largest increase was Genuine Parts Co (NYSE:GPC), with an additional 281,800 shares, bringing the total to 3,097,978. This adjustment represents a significant 10.01% increase in share count, with a total value of $389.54 million.
Seth Klarman (Trades, Portfolio) completely exited 4 holdings in the third quarter of 2026, as detailed below:
Teleflex Inc (NYSE:TFX): Seth Klarman (Trades, Portfolio) sold all 1,409,000 shares, resulting in a -3.3% impact on the portfolio.
Norwegian Cruise Line Holdings Ltd (NYSE:NCLH): Seth Klarman (Trades, Portfolio) liquidated all 7,730,000 shares, causing a -3.01% impact on the portfolio.
Seth Klarman (Trades, Portfolio) also reduced positions in 4 stocks. The most significant changes include:
Reduced Alphabet Inc (NASDAQ:GOOG) by 422,000 shares, resulting in a -30.76% decrease in shares and a -2.75% impact on the portfolio. The stock traded at an average price of $344.72 during the quarter and has returned -14.90% over the past 3 months and -6.60% year-to-date.
Reduced Union Pacific Corp (NYSE:UNP) by 390,000 shares, resulting in a -32.9% reduction in shares and a -1.96% impact on the portfolio. The stock traded at an average price of $290.77 during the quarter and has returned 2.03% over the past 3 months and 32.72% year-to-date.
At the third quarter of 2026, Seth Klarman (Trades, Portfolio)'s portfolio included 21 stocks. The top holdings were 18.49% in Amazon.com Inc (NASDAQ:AMZN), 9.83% in Elevance Health Inc (NYSE:ELV), 9.51% in Restaurant Brands International Inc (NYSE:QSR), 7.72% in Genuine Parts Co (NYSE:GPC) and 6.93% in Ferguson Enterprises Inc (NYSE:FERG). The concentration in the top five names underscores a hallmark of the Baupost approach: a compact list of high-conviction ideas rather than broad diversification for its own sake.
The holdings are mainly concentrated in 9 of all the 11 industries: Consumer Cyclical, Industrials, Financial Services, Healthcare, Communication Services, Basic Materials, Consumer Defensive, Technology and Real Estate. For value investors, the quarter's message is twofold: fresh capital went into aerospace and landscape distribution, while long-held positions in coatings and auto parts were built up a reminder that Klarman sizes new ideas by conviction, not by headlines.
