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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%

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

Book

2025 Q4 2025 Q3, filed 13 Feb, long equity only

Download CSV Download Excel All activity
QSR, Restaurant Brands International 10.44%, was 11.05% Reduce −2.1% 8,080,112 $68.23 $551M −172,750 +$22M
AMZN, Amazon 9.28% New 2,121,391 $230.82 $490M +2,121,391 +$490M
WTW, Willis Towers Watson 8.45%, was 7.85% Add +24.7% 1,357,601 $328.60 $446M +268,536 +$70M
ELV, Elevance Health 8.43%, was 8.90% Reduce −3.8% 1,269,302 $350.55 $445M −49,698 +$19M
UNP, Union Pacific 7.13% Add +8.8% 1,627,254 $231.32 $376M +131,050 +$23M
WCC, Wesco International 6.58%, was 6.64% Reduce −5.6% 1,418,831 $244.64 $347M −84,349 +$29M
GOOG, Alphabet 6.46%, was 9.45% Reduce −41.5% 1,087,181 $313.80 $341M −770,957 −$111M
FIS, Fidelity National Information Services 5.67%, was 5.22% Add +18.8% 4,503,801 $66.46 $299M +714,090 +$49M
DG, Dollar General 5.19%, was 5.75% Reduce −22.7% 2,062,821 $132.77 $274M −604,055 −$1.7M
FERG, Ferguson 4.80%, was 5.42% Reduce −1.6% 1,137,035 $222.63 $253M −18,465 −$6.4M
EXP, Eagle Materials 4.64%, was 4.57% Add +26.1% 1,185,248 $206.68 $245M +245,588 +$26M
LBTYK, Liberty Global Class C 4.37%, was 5.31% Reduce −3.6% 20,884,781 $11.04 $231M −773,022 −$24M
GPC, Genuine Parts 3.46% Add +6.5% 1,486,088 $122.96 $183M +91,088 −$11M
FISV, Fiserv 2.80%, was 2.41% Add +145.8% 2,200,000 $67.17 $148M +1,305,000 +$32M
CRH, CRH PLC 2.54%, was 8.47% Reduce −68.3% 1,072,957 $124.80 $134M −2,310,438 −$272M
Herbalife 2.26%, was 1.37% Add +19.3% 9,259,844 $12.89 $119M +1,500,000 +$54M
MOH, Molina Healthcare 2.05% New 625,000 $173.54 $108M +625,000 +$108M
AERO, Grupo Aeromexico Sab De CV 2.02% New 4,855,180 $21.96 $107M +4,855,180 +$107M
GDS, GDS Holdings 2.01%, was 2.63% Reduce −6.3% 3,044,818 $34.90 $106M −205,134 −$20M
COLD, Americold Realty Trust 0.85%, was 0.92% Reduce −3.5% 3,475,685 $12.86 $45M −124,315 +$633K
LBTYA, Liberty Global Class A 0.44%, was 1.21% Reduce −59.0% 2,080,456 $11.14 $23M −2,996,306 −$35M
Tamboran Resources 0.13%, was 0.33% Reduce −54.9% 257,226 $27.23 $7M −313,607 −$8.6M

Exits / last held

Gone since 2025 Q3, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
Pagseguro Digital 0.52% Exit 0 $10.00 $25M −2,500,000 −$25M

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 2025 Q3. 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