AON PLC
G0403H108
New position
SEC source XMLShare change
+769,000
Value change
+$248.2M
Weight change
+4.85%
Back to 13F signalsSEC source XML
BG
Q1 2026
Baupost Group
Baupost Group is Seth Klarman's value-oriented investment firm, known for patience, risk control, and distressed opportunities.
BAUPOST GROUP LLC/MA, CIK 0001061768. Review four-quarter trends, portfolio structure, quarterly operations, and the complete table of original SEC CUSIP holdings.
Report date: 03/31/2026Filing date: 05/14/20260001061768-26-000007
No reliable official public logo asset URL was confirmed for Baupost Group.
13F portfolio value change
$5.1B
Q1 2026 disclosed value; -$163.2M / -3.1% vs Q4 2025.
Company-level holdings
22
Multiple CUSIP rows for the same company are combined.
Top 10 weight
73.94%
Balanced
New / increased
15
New positions 15.81%
Exited / reduced
10
Turnover 54.55%
Latest portfolio moves
New positions, increases, reductions, and exits are shown before charts and raw holdings, with SEC source links on every move.
Increased / new this quarter
Company-level positions whose share count increased or appeared for the first time.
VISA INC
92826C839
New position
SEC source XMLShare change
+701,355
Value change
+$212.0M
Weight change
+4.14%
TELEFLEX INCORPORATED
879369106
New position
SEC source XMLShare change
+1,595,000
Value change
+$190.8M
Weight change
+3.73%
AMAZON COM INC
023135106
Increased
SEC source XMLShare change
+997,363
Value change
+$159.9M
Weight change
+3.42%
FERGUSON ENTERPRISES INC
31488V107
Increased
SEC source XMLShare change
+305,376
Value change
+$83.3M
Weight change
+1.78%
ELEVANCE HEALTH INC FORMERLY
036752103
Increased
SEC source XMLShare change
+5,852
Value change
-$71.7M
Weight change
-1.13%
NORWEGIAN CRUISE LINE HLDGS
G66721104
New position
SEC source XMLShare change
+3,630,000
Value change
+$67.9M
Weight change
+1.33%
VAXCYTE INC
92243G108
New position
SEC source XMLShare change
+800,000
Value change
+$46.5M
Weight change
+0.91%
Reduced / exited this quarter
Company-level positions whose share count declined or disappeared completely.
FIDELITY NATL INFORMATION SV
31620M106
Exited
SEC source XMLShare change
-4,503,801
Value change
-$299.3M
Weight change
-5.67%
DOLLAR GEN CORP NEW
256677105
Exited
SEC source XMLShare change
-2,062,821
Value change
-$273.9M
Weight change
-5.19%
WILLIS TOWERS WATSON PLC LTD
G96629103
Reduced
SEC source XMLShare change
-464,475
Value change
-$186.5M
Weight change
-3.38%
FISERV INC
337738108
Exited
SEC source XMLShare change
-2,200,000
Value change
-$147.8M
Weight change
-2.80%
CRH PLC
G25508105
Exited
SEC source XMLShare change
-1,072,957
Value change
-$133.9M
Weight change
-2.54%
EAGLE MATLS INC
26969P108
Reduced
SEC source XMLShare change
-292,485
Value change
-$75.8M
Weight change
-1.33%
LIBERTY GLOBAL LTD
G61188127
Reduced
SEC source XMLShare change
-7,487,534
Value change
-$73.4M
Weight change
-1.30%
LIBERTY GLOBAL LTD
G61188101
Exited
SEC source XMLShare change
-2,080,456
Value change
-$23.2M
Weight change
-0.44%
SEC source transparency
Signals are derived from SEC EDGAR 13F information tables. Search aliases, tickers, themes, and company mappings help discovery but do not replace the original filing.
Data source
SEC EDGAR
Source filings
16
Latest reporting quarter
2026Q1
Largest increase
Rule-based indicators calculated from company-level changes this quarter.
AON PLC
G0403H108
New position
SEC source XMLShare change
+769,000
Value change
+$248.2M
Weight change
+4.85%
Largest reduction
Rule-based indicators calculated from company-level changes this quarter.
FIDELITY NATL INFORMATION SV
31620M106
Exited
SEC source XMLShare change
-4,503,801
Value change
-$299.3M
Weight change
-5.67%
Manager profile
Style
Deep value, distressed assets, capital preservation, low turnover, and willingness to hold cash.
History
Baupost was created with support from Harvard-related capital and has long been associated with Klarman's Margin of Safety philosophy.
Scale
13F shows only public U.S. equities; Baupost's broader opportunity set can include distressed debt and private situations.
Lead investor
Klarman is known for caution, valuation discipline, and a strong focus on downside protection.
Record and context
Baupost is widely respected for long-term risk-adjusted results, though detailed current performance is not fully public.
13F scope
13F reports show disclosed U.S.-listed long equity positions. They exclude most shorts, private holdings, cash, derivatives, and non-U.S. positions.
Trends and portfolio structure
Total value over four quarters
Holdings count trend
Quarterly action counts
Top holdings weight
Theme / industry allocation
Unclassified55.91%
Technology19.32%
Consumer11.67%
Healthcare8.95%
Financials4.14%
Four-quarter summary
| Quarter | Filing date | Accession number | Raw rows | Companies | Total holding value | Top10 |
|---|---|---|---|---|---|---|
| Q1 2026 | 05/14/2026 | 0001061768-26-000007 | 22 | 22 | $5,115,380,000 | 73.94% |
| Q4 2025 | 02/13/2026 | 0001061768-26-000005 | 22 | 22 | $5,278,590,000 | 72.43% |
| Q3 2025 | 11/13/2025 | 0001061768-25-000007 | 22 | 22 | $4,790,804,000 | 76.21% |
| Q2 2025 | 08/13/2025 | 0001061768-25-000005 | 23 | 23 | $4,130,042,000 | 78.75% |
Quarterly operations table
| Company | CUSIP | Change | Current shares | Share change | Share change % | Current value | Value change | Weight change | Theme |
|---|---|---|---|---|---|---|---|---|---|
| FIDELITY NATL INFORMATION SV 31620M106 | 31620M106 | Exited | 0 | -4,503,801 | -100.00% | $0 | -$299,323,000 | -5.67% | Unclassified |
| DOLLAR GEN CORP NEW 256677105 | 256677105 | Exited | 0 | -2,062,821 | -100.00% | $0 | -$273,881,000 | -5.19% | Unclassified |
| AON PLC G0403H108 | G0403H108 | New position | 769,000 | +769,000 | n/a | $248,218,000 | +$248,218,000 | +4.85% | Unclassified |
| VISA INC 92826C839 | 92826C839 | New position | 701,355 | +701,355 | n/a | $211,978,000 | +$211,978,000 | +4.14% | Financials |
| TELEFLEX INCORPORATED 879369106 | 879369106 | New position | 1,595,000 | +1,595,000 | n/a | $190,778,000 | +$190,778,000 | +3.73% | Unclassified |
| WILLIS TOWERS WATSON PLC LTD G96629103 | G96629103 | Reduced | 893,126 | -464,475 | -34.21% | $259,632,000 | -$186,476,000 | -3.38% | Unclassified |
| AMAZON COM INC 023135106 | 023135106 | Increased | 3,118,754 | +997,363 | +47.01% | $649,543,000 | +$159,884,000 | +3.42% | Technology |
| FISERV INC 337738108 | 337738108 | Exited | 0 | -2,200,000 | -100.00% | $0 | -$147,774,000 | -2.80% | Unclassified |
| CRH PLC G25508105 | G25508105 | Exited | 0 | -1,072,957 | -100.00% | $0 | -$133,905,000 | -2.54% | Unclassified |
| FERGUSON ENTERPRISES INC 31488V107 | 31488V107 | Increased | 1,442,411 | +305,376 | +26.86% | $336,457,000 | +$83,319,000 | +1.78% | Unclassified |
| EAGLE MATLS INC 26969P108 | 26969P108 | Reduced | 892,763 | -292,485 | -24.68% | $169,134,000 | -$75,833,000 | -1.33% | Unclassified |
| LIBERTY GLOBAL LTD G61188127 | G61188127 | Reduced | 13,397,247 | -7,487,534 | -35.85% | $157,150,000 | -$73,418,000 | -1.30% | Unclassified |
| ELEVANCE HEALTH INC FORMERLY 036752103 | 036752103 | Increased | 1,275,154 | +5,852 | +0.46% | $373,301,000 | -$71,653,000 | -1.13% | Healthcare |
| NORWEGIAN CRUISE LINE HLDGS G66721104 | G66721104 | New position | 3,630,000 | +3,630,000 | n/a | $67,881,000 | +$67,881,000 | +1.33% | Unclassified |
| VAXCYTE INC 92243G108 | 92243G108 | New position | 800,000 | +800,000 | n/a | $46,488,000 | +$46,488,000 | +0.91% | Unclassified |
| WESCO INTL INC 95082P105 | 95082P105 | Increased | 1,436,881 | +18,050 | +1.27% | $393,159,000 | +$46,056,000 | +1.11% | Unclassified |
| RESTAURANT BRANDS INTL INC 76131D103 | 76131D103 | Unchanged | 8,080,112 | 0 | +0.00% | $597,208,000 | +$45,883,000 | +1.23% | Consumer |
| AMERICOLD REALTY TRUST INC 03064D108 | 03064D108 | Increased | 7,780,800 | +4,305,115 | +123.86% | $89,168,000 | +$44,471,000 | +0.90% | Unclassified |
| DNOW INC 67011P100 | 67011P100 | New position | 3,625,000 | +3,625,000 | n/a | $43,174,000 | +$43,174,000 | +0.84% | Unclassified |
| GRUPO AEROMEXICO SAB DE CV 40054J109 | 40054J109 | Increased | 4,880,188 | +25,008 | +0.52% | $68,371,000 | -$38,249,000 | -0.68% | Unclassified |
| GENUINE PARTS CO 372460105 | 372460105 | Increased | 1,490,348 | +4,260 | +0.29% | $157,604,000 | -$25,125,000 | -0.38% | Unclassified |
| MOLINA HEALTHCARE INC 60855R100 | 60855R100 | Increased | 633,609 | +8,609 | +1.38% | $84,460,000 | -$24,003,000 | -0.40% | Healthcare |
| LIBERTY GLOBAL LTD G61188101 | G61188101 | Exited | 0 | -2,080,456 | -100.00% | $0 | -$23,176,000 | -0.44% | Unclassified |
| HERBALIFE LTD G4412G101 | G4412G101 | Unchanged | 9,259,844 | 0 | +0.00% | $136,305,000 | +$16,946,000 | +0.40% | Unclassified |
| GDS HLDGS LTD 36165L108 | 36165L108 | Unchanged | 3,044,818 | 0 | +0.00% | $122,676,000 | +$16,412,000 | +0.39% | Unclassified |
| TAMBORAN RES CORP 87507T101 | 87507T101 | Exited | 0 | -257,226 | -100.00% | $0 | -$7,004,000 | -0.13% | Unclassified |
| UNION PAC CORP 907818108 | 907818108 | Reduced | 1,540,995 | -86,259 | -5.30% | $373,876,000 | -$2,540,000 | +0.18% | Unclassified |
| Alphabet Inc. GOOG / GOOGL | 02079K107 | Increased | 1,181,131 | +93,950 | +8.64% | $338,819,000 | -$2,338,000 | +0.16% | Technology |
Showing 28 of 28 changes for this quarter. Portfolio weight is the position’s share of the manager’s total 13F market value for that quarter.
Complete raw holdings table
| Rank | Company | CUSIP | Normalized company | Holding market value | Shares | Weight | Change | Theme | Source |
|---|---|---|---|---|---|---|---|---|---|
| 1 | AMAZON COM INC COM | 023135106 | AMAZON COM INC 023135106 | $649,543,000 | 3,118,754 | 12.70% | Increased +47.01% | Technology | 05/14/2026 0001061768-26-000007 |
| 2 | RESTAURANT BRANDS INTL INC COM | 76131D103 | RESTAURANT BRANDS INTL INC 76131D103 | $597,208,000 | 8,080,112 | 11.67% | Unchanged +0.00% | Consumer | 05/14/2026 0001061768-26-000007 |
| 3 | WESCO INTL INC COM | 95082P105 | WESCO INTL INC 95082P105 | $393,159,000 | 1,436,881 | 7.69% | Increased +1.27% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 4 | UNION PAC CORP COM | 907818108 | UNION PAC CORP 907818108 | $373,876,000 | 1,540,995 | 7.31% | Reduced -5.30% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 5 | ELEVANCE HEALTH INC FORMERLY COM | 036752103 | ELEVANCE HEALTH INC FORMERLY 036752103 | $373,301,000 | 1,275,154 | 7.30% | Increased +0.46% | Healthcare | 05/14/2026 0001061768-26-000007 |
| 6 | ALPHABET INC CAP STK CL C | 02079K107 | Alphabet Inc. alphabet | $338,819,000 | 1,181,131 | 6.62% | Increased +8.64% | Technology | 05/14/2026 0001061768-26-000007 |
| 7 | FERGUSON ENTERPRISES INC COMMON STOCK NEW | 31488V107 | FERGUSON ENTERPRISES INC 31488V107 | $336,457,000 | 1,442,411 | 6.58% | Increased +26.86% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 8 | WILLIS TOWERS WATSON PLC LTD SHS | G96629103 | WILLIS TOWERS WATSON PLC LTD G96629103 | $259,632,000 | 893,126 | 5.08% | Reduced -34.21% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 9 | AON PLC SHS CL A | G0403H108 | AON PLC G0403H108 | $248,218,000 | 769,000 | 4.85% | New position n/a | Unclassified | 05/14/2026 0001061768-26-000007 |
| 10 | VISA INC COM CL A | 92826C839 | VISA INC 92826C839 | $211,978,000 | 701,355 | 4.14% | New position n/a | Financials | 05/14/2026 0001061768-26-000007 |
| 11 | TELEFLEX INCORPORATED COM | 879369106 | TELEFLEX INCORPORATED 879369106 | $190,778,000 | 1,595,000 | 3.73% | New position n/a | Unclassified | 05/14/2026 0001061768-26-000007 |
| 12 | EAGLE MATLS INC COM | 26969P108 | EAGLE MATLS INC 26969P108 | $169,134,000 | 892,763 | 3.31% | Reduced -24.68% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 13 | GENUINE PARTS CO COM | 372460105 | GENUINE PARTS CO 372460105 | $157,604,000 | 1,490,348 | 3.08% | Increased +0.29% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 14 | LIBERTY GLOBAL LTD COM CL C | G61188127 | LIBERTY GLOBAL LTD G61188127 | $157,150,000 | 13,397,247 | 3.07% | Reduced -35.85% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 15 | HERBALIFE LTD COM SHS | G4412G101 | HERBALIFE LTD G4412G101 | $136,305,000 | 9,259,844 | 2.66% | Unchanged +0.00% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 16 | GDS HLDGS LTD SPONSORED ADS | 36165L108 | GDS HLDGS LTD 36165L108 | $122,676,000 | 3,044,818 | 2.40% | Unchanged +0.00% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 17 | AMERICOLD REALTY TRUST INC COM | 03064D108 | AMERICOLD REALTY TRUST INC 03064D108 | $89,168,000 | 7,780,800 | 1.74% | Increased +123.86% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 18 | MOLINA HEALTHCARE INC COM | 60855R100 | MOLINA HEALTHCARE INC 60855R100 | $84,460,000 | 633,609 | 1.65% | Increased +1.38% | Healthcare | 05/14/2026 0001061768-26-000007 |
| 19 | GRUPO AEROMEXICO SAB DE CV SPONSORED ADS | 40054J109 | GRUPO AEROMEXICO SAB DE CV 40054J109 | $68,371,000 | 4,880,188 | 1.34% | Increased +0.52% | Unclassified | 05/14/2026 0001061768-26-000007 |
| 20 | NORWEGIAN CRUISE LINE HLDGS SHS | G66721104 | NORWEGIAN CRUISE LINE HLDGS G66721104 | $67,881,000 | 3,630,000 | 1.33% | New position n/a | Unclassified | 05/14/2026 0001061768-26-000007 |
| 21 | VAXCYTE INC COM | 92243G108 | VAXCYTE INC 92243G108 | $46,488,000 | 800,000 | 0.91% | New position n/a | Unclassified | 05/14/2026 0001061768-26-000007 |
| 22 | DNOW INC COM | 67011P100 | DNOW INC 67011P100 | $43,174,000 | 3,625,000 | 0.84% | New position n/a | Unclassified | 05/14/2026 0001061768-26-000007 |
SEC filing source
Current filing: 0001061768-26-000007, filed 05/14/2026. Open the SEC source above to inspect the original information table.