Follow The Filings

Baupost Group LLC Seth Klarman

Boston, MA 20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

  • $5.4B
  • 23 holdings
  • 2026 Q2
  • +5.9% QoQ
  • Top 5 50.0%

Seth Klarman's biggest moves in 2026 Q2 were opening CME Group and Axalta Coating Systems, adding to Amazon and Genuine Parts, trimming Wesco International and Restaurant Brands International, and selling out of Willis Towers Watson and Vaxcyte.

Portfolio

2026 Q2, filed 8/13/2026, top 12 of 23 holdings

Top 5 50.0%, top 10 74.9%

  1. AMZN, Amazon 16.5%
  2. ELV, Elevance Health 9.1%
  3. QSR, Restaurant Brands International 9.0%
  4. GOOG, Alphabet 9.0%
  5. FERG, Ferguson 6.4%
  6. GPC, Genuine Parts 6.1%
  7. UNP, Union Pacific 6.0%
  8. V, Visa 4.4%
  9. WCC, Wesco International 4.2%
  10. AON, Aon 4.2%
  11. TFX, Teleflex 3.3%
  12. NCLH, Norwegian Cruise Line 3.0%
  13. Other 18.8%

AUM over time

2026 Q2 $5.4B +5.9% QoQ
2021 Q3: $10.9B 2021 Q3: $10.9B
Q3 2021
2021 Q4: $10.1B, −7.0% QoQ 2021 Q4: $10.1B, −7.0% QoQ
Q4
2022 Q1: $9.3B, −8.2% QoQ 2022 Q1: $9.3B, −8.2% QoQ
Q1 2022
2022 Q2: $6.8B, −27.2% QoQ 2022 Q2: $6.8B, −27.2% QoQ
Q2
2022 Q3: $5.8B, −14.4% QoQ 2022 Q3: $5.8B, −14.4% QoQ
Q3
2022 Q4: $6.1B, +5.8% QoQ 2022 Q4: $6.1B, +5.8% QoQ
Q4
2023 Q1: $5.8B, −4.6% QoQ 2023 Q1: $5.8B, −4.6% QoQ
Q1 2023
2023 Q2: $5.6B, −4.0% QoQ 2023 Q2: $5.6B, −4.0% QoQ
Q2
2023 Q3: $5.2B, −7.1% QoQ 2023 Q3: $5.2B, −7.1% QoQ
Q3
2023 Q4: $4.6B, −12.1% QoQ 2023 Q4: $4.6B, −12.1% QoQ
Q4
2024 Q1: $3.7B, −20.4% QoQ 2024 Q1: $3.7B, −20.4% QoQ
Q1 2024
2024 Q2: $3.6B, −0.5% QoQ 2024 Q2: $3.6B, −0.5% QoQ
Q2
2024 Q3: $3.5B, −3.2% QoQ 2024 Q3: $3.5B, −3.2% QoQ
Q3
2024 Q4: $3.4B, −2.3% QoQ 2024 Q4: $3.4B, −2.3% QoQ
Q4
2025 Q1: $3.5B, +1.8% QoQ 2025 Q1: $3.5B, +1.8% QoQ
Q1 2025
2025 Q2: $4.1B, +18.1% QoQ 2025 Q2: $4.1B, +18.1% QoQ
Q2
2025 Q3: $4.8B, +16.0% QoQ 2025 Q3: $4.8B, +16.0% QoQ
Q3
2025 Q4: $5.3B, +10.2% QoQ 2025 Q4: $5.3B, +10.2% QoQ
Q4
2026 Q1: $5.1B, −3.1% QoQ 2026 Q1: $5.1B, −3.1% QoQ
Q1 2026
2026 Q2: $5.4B, +5.9% QoQ 2026 Q2: $5.4B, +5.9% QoQ
Q2

Latest book

2026 Q2 2026 Q1, filed 13 Aug, long equity only

Download CSV Download Excel All activity
AMZN, Amazon 16.48%, was 12.70% Add +20.0% 3,743,854 $238.34 $892M +625,100 +$243M
ELV, Elevance Health 9.11% Hold 1,275,154 $386.73 $493M — —
QSR, Restaurant Brands International 9.04%, was 11.67% Reduce −16.4% 6,753,112 $72.50 $490M −1,327,000 −$108M
GOOG, Alphabet 8.95%, was 6.62% Add +16.2% 1,371,931 $353.33 $485M +190,800 +$146M
FERG, Ferguson 6.36% Add +0.6% 1,450,594 $237.33 $344M +8,183 +$7.8M
GPC, Genuine Parts 6.13%, was 3.08% Add +89.0% 2,816,178 $117.98 $332M +1,325,830 +$175M
UNP, Union Pacific 5.95%, was 7.31% Reduce −23.1% 1,185,395 $272.00 $322M −355,600 −$51M
V, Visa 4.44% Hold 701,355 $343.09 $241M — —
WCC, Wesco International 4.23%, was 7.69% Reduce −53.9% 662,881 $345.43 $229M −774,000 −$164M
AON, Aon 4.21%, was 4.85% Reduce −10.7% 687,000 $331.69 $228M −82,000 −$20M
TFX, Teleflex 3.30%, was 3.73% Reduce −11.7% 1,409,000 $126.76 $179M −186,000 −$12M
NCLH, Norwegian Cruise Line 3.01%, was 1.33% Add +112.9% 7,730,000 $21.11 $163M +4,100,000 +$95M
MOH, Molina Healthcare 2.68% Hold 633,609 $228.70 $145M — —
CME, CME Group 2.52% New 619,000 $220.83 $137M +619,000 +$137M
Herbalife 2.25% Hold 9,259,844 $13.15 $122M — —
EXP, Eagle Materials 2.21%, was 3.31% Reduce −40.5% 530,763 $225.00 $119M −362,000 −$50M
GDS, GDS Holdings 2.09% Add +23.8% 3,769,818 $30.03 $113M +725,000 −$9.5M
COLD, Americold Realty Trust 1.98% Reduce −12.2% 6,830,230 $15.72 $107M −950,570 +$18M
LBTYK, Liberty Global 1.74%, was 3.07% Reduce −36.2% 8,543,161 $11.00 $94M −4,854,086 −$63M
AERO, Grupo Aeromexico Sab De CV 1.62% Hold 4,880,188 $18.00 $88M — —
AXTA, Axalta Coating Systems 0.81% New 1,274,356 $34.22 $44M +1,274,356 +$44M
DNOW, DNOW Inc 0.67%, was 0.84% Reduce −23.1% 2,788,000 $12.97 $36M −837,000 −$7M
PS, Pershing Square 0.24% New 392,000 $32.86 $13M +392,000 +$13M

Exits / last held

Gone since 2026 Q1, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
WTW, Willis Towers Watson 5.08% Exit 0 $290.70 $260M −893,126 −$260M
PCVX, Vaxcyte 0.91% Exit 0 $58.11 $46M −800,000 −$46M

Weight bar: held both quarters added sold at this quarter’s reported price

* Reported price is value ÷ shares from the 13F as of period end, not a live market quote. Weight % is each long-equity position ÷ full 13F AUM, so rows may not sum to 100% when the filing includes options or other non-equity (excluded from this table). Share change and $ change are vs 2026 Q1. Click a column header to sort, or New, Hold, Add or Reduce to bring those moves to the top. Exit opens the last-held block below.

Filings history

20 periods, with AUM normalized

Newest 13Fs
Period Holds AUM QoQ Form Filed Filing ID
2026 Q2 23 $5.4B +5.9% 13F-HR 8/13/2026 000106176826000010
2026 Q1 22 $5.1B −3.1% 13F-HR 5/14/2026 000106176826000007
2025 Q4 22 $5.3B +10.2% 13F-HR 2/13/2026 000106176826000005
2025 Q3 22 $4.8B +16.0% 13F-HR 11/13/2025 000106176825000007
2025 Q2 23 $4.1B +18.1% 13F-HR 8/13/2025 000106176825000005
2025 Q1 23 $3.5B +1.8% 13F-HR 5/14/2025 000106176825000003
2024 Q4 22 $3.4B −2.3% 13F-HR 2/13/2025 000106176825000002
2024 Q3 21 $3.5B −3.2% 13F-HR 11/13/2024 000106176824000005
2024 Q2 24 $3.6B −0.5% 13F-HR 8/13/2024 000156761924000363
2024 Q1 22 $3.7B −20.4% 13F-HR 5/14/2024 000156761924000317
2023 Q4 23 $4.6B −12.1% 13F-HR 2/13/2024 000156761924000192
2023 Q3 32 $5.2B −7.1% 13F-HR 11/13/2023 000156761923007709
2023 Q2 29 $5.6B −4.0% 13F-HR 8/11/2023 000156761923006910
2023 Q1 31 $5.8B −4.6% 13F-HR 5/12/2023 000156761923006061
2022 Q4 34 $6.1B +5.8% 13F-HR 2/13/2023 000156761923002543
2022 Q3 45 $5.8B −14.4% 13F-HR 11/14/2022 000156761922020125
2022 Q2 52 $6.8B −27.2% 13F-HR 8/12/2022 000156761922015853
2022 Q1 55 $9.3B −8.2% 13F-HR 5/13/2022 000156761922010529
2021 Q4 54 $10.1B −7.0% 13F-HR 2/11/2022 000156761922003626
2021 Q3 57 $10.9B — 13F-HR 11/12/2021 000156761921020056

About

Baupost Group LLC

20 processed 13Fs on this site, 2021 Q3 to 2026 Q2

Notable person
Seth Klarman
SEC filing name
BAUPOST GROUP LLC/MA
Location
Boston, MA
All SEC filings
View on sec.gov