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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

2026 Q1 2025 Q4, filed 14 May, long equity only

Download CSV Download Excel All activity
AMZN, Amazon 12.70%, was 9.28% Add +47.0% 3,118,754 $208.27 $650M +997,363 +$160M
QSR, Restaurant Brands International 11.67% Hold 8,080,112 $73.91 $597M — —
WCC, Wesco International 7.69%, was 6.58% Add +1.3% 1,436,881 $273.62 $393M +18,050 +$46M
UNP, Union Pacific 7.31% Reduce −5.3% 1,540,995 $242.62 $374M −86,259 −$2.5M
ELV, Elevance Health 7.30% Add +0.5% 1,275,154 $292.75 $373M +5,852 −$72M
GOOG, Alphabet 6.62%, was 6.46% Add +8.6% 1,181,131 $286.86 $339M +93,950 −$2.3M
FERG, Ferguson 6.58%, was 4.80% Add +26.9% 1,442,411 $233.26 $336M +305,376 +$83M
WTW, Willis Towers Watson 5.08%, was 8.45% Reduce −34.2% 893,126 $290.70 $260M −464,475 −$186M
AON, Aon 4.85% New 769,000 $322.78 $248M +769,000 +$248M
V, Visa 4.14% New 701,355 $302.24 $212M +701,355 +$212M
TFX, Teleflex 3.73% New 1,595,000 $119.61 $191M +1,595,000 +$191M
EXP, Eagle Materials 3.31%, was 4.64% Reduce −24.7% 892,763 $189.45 $169M −292,485 −$76M
GPC, Genuine Parts 3.08% Add +0.3% 1,490,348 $105.75 $158M +4,260 −$25M
LBTYK, Liberty Global Class C 3.07%, was 4.37% Reduce −35.9% 13,397,247 $11.73 $157M −7,487,534 −$73M
Herbalife 2.66% Hold 9,259,844 $14.72 $136M — —
GDS, GDS Holdings 2.40% Hold 3,044,818 $40.29 $123M — —
COLD, Americold Realty Trust 1.74%, was 0.85% Add +123.9% 7,780,800 $11.46 $89M +4,305,115 +$44M
MOH, Molina Healthcare 1.65% Add +1.4% 633,609 $133.30 $84M +8,609 −$24M
AERO, Grupo Aeromexico Sab De CV 1.34% Add +0.5% 4,880,188 $14.01 $68M +25,008 −$38M
NCLH, Norwegian Cruise Line 1.33% New 3,630,000 $18.70 $68M +3,630,000 +$68M
PCVX, Vaxcyte 0.91% New 800,000 $58.11 $46M +800,000 +$46M
DNOW, DNOW Inc 0.84% New 3,625,000 $11.91 $43M +3,625,000 +$43M

Exits / last held

Gone since 2025 Q4, shown at their last reported size.

Stock % of portfolio Recent activity Shares Reported price* Value Share change $ change
FIS, Fidelity National Information Services 5.67% Exit 0 $66.46 $299M −4,503,801 −$299M
DG, Dollar General 5.19% Exit 0 $132.77 $274M −2,062,821 −$274M
FISV, Fiserv 2.80% Exit 0 $67.17 $148M −2,200,000 −$148M
CRH, CRH PLC 2.54% Exit 0 $124.80 $134M −1,072,957 −$134M
LBTYA, Liberty Global Class A 0.44% Exit 0 $11.14 $23M −2,080,456 −$23M
Tamboran Resources 0.13% Exit 0 $27.23 $7M −257,226 −$7M

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 Q4. 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