Baupost Group portfolio
Seth Klarman's investment firm, Boston · 13F holdings for the quarter ended June 30, 2026
Filed with the SEC August 13, 2026 · Next filing due by November 14, 2026
Reported value
$5.4B
up from $5.1B in Q1 2026
Positions
23
22 last quarter
Top 10 holdings
74.9%
of the portfolio
This quarter
3 new · 2 sold
6 added to, 9 trimmed
What Klarman did in Q2 2026
Baupost Group opened new positions in CME Group, Axalta Coating Systems and Pershing Square. It raised its stake in Norwegian Cruise Line Holdings by 113% and Genuine Parts by 89%. It sold out of Willis Towers Watson and Vaxcyte. It cut Wesco International by 54%. Amazon is still the largest holding, at 16.5% of the portfolio.
Biggest buys
- CME Group CMENew
- Axalta Coating Systems AXTANew
- Pershing Square PSNew
- Norwegian Cruise Line Holdings NCLH+113%
- Genuine Parts GPC+89%
Biggest sells
- Willis Towers Watson WTWSold out
- Vaxcyte PCVXSold out
- Wesco International WCC−54%
- Eagle Materials EXP−41%
- Liberty Global LBTYK−36%
Top 15 holdings
Values as reported in the 13F, not today’s prices| # | Company | Share of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|
| 1 | AmazonAMZN | 16.5% | $892.3M | +20% | Q4 2025 |
| 2 | Elevance HealthELV | 9.1% | $493.1M | No change | Q1 2025 |
| 3 | Restaurant Brands InternationalQSR | 9.0% | $489.6M | −16% | Q3 2024 or earlier |
| 4 | AlphabetGOOG | 9.0% | $484.7M | +16% | Q3 2024 or earlier |
| 5 | Ferguson EnterprisesFERG | 6.4% | $344.3M | +0.6% | Q4 2024 |
| 6 | Genuine PartsGPC | 6.1% | $332.3M | +89% | Q4 2024 |
| 7 | Union PacificUNP | 6.0% | $322.4M | −23% | Q3 2025 |
| 8 | VisaV | 4.4% | $240.6M | No change | Q1 2026 |
| 9 | Wesco InternationalWCC | 4.2% | $229.0M | −54% | Q3 2024 or earlier |
| 10 | AonAON | 4.2% | $227.9M | −11% | Q1 2026 |
| 11 | TeleflexTFX | 3.3% | $178.6M | −12% | Q1 2026 |
| 12 | Norwegian Cruise Line HoldingsNCLH | 3.0% | $163.2M | +113% | Q1 2026 |
| 13 | Molina HealthcareMOH | 2.7% | $144.9M | No change | Q4 2025 |
| 14 | CME GroupCME | 2.5% | $136.7M | New | Q2 2026 |
| 15 | HerbalifeHLF | 2.2% | $121.8M | No change | Q3 2024 or earlier |
8 more positions, plus every quarter’s holdings going back years.Request early access to see the full portfolio →
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About this data
- What is a 13F?
- A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- How current is it?
- Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- Whose figures are these?
- The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- What does it leave out?
- Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.