Baupost Group portfolio: Q2 2026 13F holdings
Seth Klarman. Seth Klarman's Boston fund, known for patience, deep value and holding cash when nothing is cheap.
The Q3 2026 13F is due by 2026-11-16. This page switches to it as soon as it lands on SEC EDGAR (checked hourly).
Baupost Group reported 23 US stock positions worth $5.4B at the end of Q2 2026, against $5.1B in 22 positions at the end of Q1 2026. The ten largest are 75% of the portfolio, led by Amazon (16%), Elevance Health and Restaurant Brands Intl Inc. Over the quarter it opened 3 new positions (CME Group, Axalta Coating Sys Ltd and Pershing Square Inc), sold out of 2 (Willis Towers Watson and Vaxcyte Inc), added to 5 and trimmed 9.
Biggest buys in Q2 2026
Biggest sells in Q2 2026
Everything Baupost Group owns
| Company | % of portfolio | Value | Shares | vs Q1 2026 | Upside | The rule |
|---|---|---|---|---|---|---|
| AMZNAmazon | 16% | $892.3M | 3,743,854 | +20% | +46% | Members only |
| ELVElevance Health | 9.1% | $493.1M | 1,275,154 | same | +36% | Members only |
| Restaurant Brands Intl Inc | 9.0% | $489.6M | 6,753,112 | -16% | — | — |
| GOOGLAlphabet (Class A) | 9.0% | $484.7M | 1,371,931 | +16% | -5% | Members only |
| FERGFerguson Enterprises | 6.4% | $344.3M | 1,450,594 | +1% | -33% | Members only |
| GPCGenuine Parts Company | 6.1% | $332.3M | 2,816,178 | +89% | -26% | Members only |
| UNPUnion Pacific | 6.0% | $322.4M | 1,185,395 | -23% | -52% | Members only |
| VVisa | 4.4% | $240.6M | 701,355 | same | -21% | Members only |
| Wesco Intl Inc | 4.2% | $229.0M | 662,881 | -54% | — | — |
| AONAon | 4.2% | $227.9M | 687,000 | -11% | -9% | Members only |
| Teleflex Incorporated | 3.3% | $178.6M | 1,409,000 | -12% | — | — |
| NCLHNorwegian Cruise Line Holdings | 3.0% | $163.2M | 7,730,000 | +113% | -271% | Members only |
| Molina Healthcare Inc | 2.7% | $144.9M | 633,609 | same | — | — |
| CMECME Group | 2.5% | $136.7M | 619,000 | NEW | +120% | Members only |
| Herbalife Ltd | 2.2% | $121.8M | 9,259,844 | same | — | — |
| Eagle Matls Inc | 2.2% | $119.4M | 530,763 | -41% | — | — |
| Gds Hldgs Ltd | 2.1% | $113.2M | 3,769,818 | +24% | — | — |
| Americold Realty Trust Inc | 2.0% | $107.4M | 6,830,230 | -12% | — | — |
| Liberty Global Ltd | 1.7% | $94.0M | 8,543,161 | -36% | — | — |
| Grupo Aeromexico Sab DE CV | 1.6% | $87.8M | 4,880,188 | same | — | — |
| Axalta Coating Sys Ltd | 0.8% | $43.6M | 1,274,356 | NEW | — | — |
| Dnow Inc | 0.7% | $36.2M | 2,788,000 | -23% | — | — |
| Pershing Square Inc | 0.2% | $12.9M | 392,000 | NEW | — | — |
| WTWWillis Towers Watson | — | — | — | SOLD OUT | -30% | Members only |
| Vaxcyte Inc | — | — | — | SOLD OUT | — | — |
Upside is to our model’s value from each company’s own SEC filings, for the S&P 500 companies we value (how). Positions sold out during the quarter are listed last.
Other 13F portfolios
- Berkshire HathawayWarren Buffett · Q2 2026
- Dodge & Cox220 positions · Q2 2026
- Harris Associates (Oakmark)Bill Nygren · Q2 2026
- First Eagle Investments422 positions · Q2 2026
- Coatue ManagementPhilippe Laffont · Q2 2026
- Viking GlobalAndreas Halvorsen · Q2 2026
- D1 Capital PartnersDan Sundheim · Q2 2026
- Tiger GlobalChase Coleman · Q2 2026
- Davis AdvisorsChris Davis · Q2 2026
- Pershing SquareBill Ackman · Q2 2026
- Lone Pine CapitalStephen Mandel · Q2 2026
- Elliott Investment ManagementPaul Singer · Q2 2026
What a 13F shows, and what it hides: 13F filings explained.
Generated automatically from Baupost Group’s Form 13F (CIK 1061768, accession 0001061768-26-000010) on SEC EDGAR, compared with its filing for Q1 2026. Long US stock positions only: 13Fs leave out shorts, cash, bonds, most non-US holdings and options (excluded here), and are up to 45 days old when filed. Research only, not investment advice. boring&rich is not affiliated with or endorsed by Baupost Group or Seth Klarman.