Klarman's deep-value house — patient capital, unloved assets, famous cash discipline.
| # | Holding | Our call | % of book | Value | Shares | QoQ |
|---|---|---|---|---|---|---|
| 1 | AMZN | Buy | 12.7% | $650K | 3.12M | Added+47% |
| 2 | QSR | Hold | 11.7% | $597K | 8.08M | — |
| 3 | WESCO INTL INC | — | 7.7% | $393K | 1.44M | Added+1% |
| 4 | UNP | Hold | 7.3% | $374K | 1.54M | Trimmed-5% |
| 5 | ELV | Hold | 7.3% | $373K | 1.28M | — |
| 6 | GOOG | Buy | 6.6% | $339K | 1.18M | Added+9% |
| 7 | FERG | Hold | 6.6% | $336K | 1.44M | Added+27% |
| 8 | WTW | Buy | 5.1% | $260K | 893K | Trimmed-34% |
| 9 | AON | Hold | 4.9% | $248K | 769K | NEW |
| 10 | V | Hold | 4.1% | $212K | 701K | NEW |
| 11 | TELEFLEX INCORPORATED | — | 3.7% | $191K | 1.59M | NEW |
| 12 | EXP | Buy | 3.3% | $169K | 893K | Trimmed-25% |
| 13 | GPC | Hold | 3.1% | $158K | 1.49M | — |
| 14 | LBTYK | Hold | 3.1% | $157K | 13.4M | Trimmed-36% |
| 15 | HERBALIFE LTD | — | 2.7% | $136K | 9.26M | — |
| 16 | GDS | — | 2.4% | $123K | 3.04M | — |
| 17 | COLD | Sell | 1.7% | $89.2K | 7.78M | Added+124% |
| 18 | MOH | Hold | 1.7% | $84.5K | 634K | Added+1% |
| 19 | GRUPO AEROMEXICO SAB DE CV | — | 1.3% | $68.4K | 4.88M | — |
| 20 | NCLH | Hold | 1.3% | $67.9K | 3.63M | NEW |
| 21 | PCVX | Avoid | 0.9% | $46.5K | 800K | NEW |
| 22 | DNOW | Hold | 0.8% | $43.2K | 3.63M | NEW |
Source: SEC Form 13F-HR. Positions are as-of quarter end (filed up to 45 days later) and cover US-listed equities only — shorts, non-US listings and most derivatives don’t appear. Values as reported by the filer. “Our call” is TENK/calls’s independent SEC-grounded verdict, not the fund’s view.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.