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BG
Q1 2026
Baupost Group
Baupost Group is Seth Klarman's value-oriented investment firm, followed for patient and often contrarian 13F portfolio signals.
BAUPOST GROUP LLC/MA, CIK 0001061768. Review four-quarter trends, portfolio structure, quarterly operations, and the complete table of original SEC CUSIP holdings.
No reliable official public logo asset URL was confirmed for Baupost Group.
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%
Largest increase
Rule-based indicators calculated from company-level changes this quarter.
Largest reduction
Rule-based indicators calculated from company-level changes this quarter.
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 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% |
Increased / new this quarter
Company-level positions whose share count increased or appeared for the first time.
AON PLC
G0403H108
New position
Share change
+769,000
Value change
+$248.2M
Weight change
+4.85%
VISA INC
92826C839
New position
Share change
+701,355
Value change
+$212.0M
Weight change
+4.14%
TELEFLEX INCORPORATED
879369106
New position
Share change
+1,595,000
Value change
+$190.8M
Weight change
+3.73%
AMAZON COM INC
023135106
Increased
Share change
+997,363
Value change
+$159.9M
Weight change
+3.42%
FERGUSON ENTERPRISES INC
31488V107
Increased
Share change
+305,376
Value change
+$83.3M
Weight change
+1.78%
ELEVANCE HEALTH INC FORMERLY
036752103
Increased
Share change
+5,852
Value change
-$71.7M
Weight change
-1.13%
NORWEGIAN CRUISE LINE HLDGS
G66721104
New position
Share change
+3,630,000
Value change
+$67.9M
Weight change
+1.33%
VAXCYTE INC
92243G108
New position
Share 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
Share change
-4,503,801
Value change
-$299.3M
Weight change
-5.67%
DOLLAR GEN CORP NEW
256677105
Exited
Share change
-2,062,821
Value change
-$273.9M
Weight change
-5.19%
WILLIS TOWERS WATSON PLC LTD
G96629103
Reduced
Share change
-464,475
Value change
-$186.5M
Weight change
-3.38%
FISERV INC
337738108
Exited
Share change
-2,200,000
Value change
-$147.8M
Weight change
-2.80%
CRH PLC
G25508105
Exited
Share change
-1,072,957
Value change
-$133.9M
Weight change
-2.54%
EAGLE MATLS INC
26969P108
Reduced
Share change
-292,485
Value change
-$75.8M
Weight change
-1.33%
LIBERTY GLOBAL LTD
G61188127
Reduced
Share change
-7,487,534
Value change
-$73.4M
Weight change
-1.30%
LIBERTY GLOBAL LTD
G61188101
Exited
Share change
-2,080,456
Value change
-$23.2M
Weight change
-0.44%
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 | 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.