Seth Klarman portfolio: stocks, buys and sells →
Baupost Group: full 13F, sectors and history
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 13, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Baupost Group reported a $5.4 bn portfolio of 23 positions to the SEC as of the end of Q2 2026. Its largest positions are AMZN, ELV, QSR. During the quarter it opened CME Group and exited Willis Towers Watson and Vaxcyte.
Sections with a free account
What changed this quarter
18 positions with a change (2 new, 5 added to, 9 trimmed, 2 sold); also, 1 entered through an IPO. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- WESCO International−54%fewer sharesReduced7.7% → 4.2%
- Willis Towers Watson−4.8 ppof portfolioSold out5.1% → —
- Genuine Parts+89%more sharesIncreased3.1% → 6.1%
- Amazon.com+20%more sharesIncreased12.7% → 16.5%
- CME Group+2.5 ppof portfolioNew— → 2.5%
- Union Pacific−23%fewer sharesReduced7.3% → 6.0%
- Restaurant Brands International−16%fewer sharesReduced11.7% → 9.0%
- Norwegian Cruise Line Holdings+113%more sharesIncreased1.3% → 3.0%
- Eagle Materials−41%fewer sharesReduced3.3% → 2.2%
- Alphabet+16%more sharesIncreased6.6% → 9.0%
- Liberty Global−36%fewer sharesReduced3.1% → 1.7%
- Vaxcyte−0.9 ppof portfolioSold out0.9% → —
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Amazon.comAMZN16.5%
- Elevance HealthELV9.1%
- Restaurant Brands InternationalQSR9.0%
- AlphabetGOOG9.0%
- Ferguson EnterprisesFERG6.4%
- Genuine PartsGPC6.1%
- Union PacificUNP6.0%
- VisaV4.4%
- WESCO InternationalWCC4.2%
- AonAON4.2%
- TeleflexTFX3.3%
- Norwegian Cruise Line HoldingsNCLH3.0%
- Molina HealthcareMOH2.7%
- CME GroupCME2.5%
- HerbalifeHLF2.2%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Consumer Discretionary 35%
- ● Industrials 19%
- ● Health Care 15%
- ● Financials 11%
- ● Communication Services 11%
- ● Materials 3%
- ● Consumer Staples 2%
- ● Information Technology 2%
- ● Real Estate 2%
How its portfolio changed (8 quarters)
Q2 2026: 23
Q2 2026: 75%
Q2 2026: 15.3%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 30, 2026 (high confidence).
The data, as reported: THE BAUPOST GROUP, L.L.C. (CRD 109530): 7.B private funds: 12 hedge (gross assets $24.7 bn); 5.D assets by client type: pooled vehicles 100% (of $24.7 bn)
The type comes from a rule applied to that data. If it looks wrong, tell us.
Similar managers by type and size
Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
- Resolution CapitalInvestment firm · $5.4 bn
- Abrams Capital ManagementInvestment firm · $5.5 bn
- Paradigm Biocapital AdvisorsInvestment firm · $5.3 bn
- Veritas Asset Management LLPInvestment firm · $5.6 bn
- ValueAct HoldingsInvestment firm · $5.6 bn
- Skye Global ManagementInvestment firm · $5.1 bn