# BAUPOST GROUP LLC/MA

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1061768. Source: https://holderbook.com/funds/1061768-baupost-group-llc-ma/

- Reported value: $5.4B
- Positions: 23
- Weight of the ten largest: 74.9%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $892.3M | 3,743,854 | 16.5% | 3 |
| ELEVANCE HEALTH INC FORMERLY | [ELV](https://holderbook.com/stocks/ELV/) | $493.1M | 1,275,154 | 9.1% | 6 |
| RESTAURANT BRANDS INTL INC | [QSR](https://holderbook.com/stocks/QSR/) | $489.6M | 6,753,112 | 9.0% | 8 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $484.7M | 1,371,931 | 9.0% | 26 |
| FERGUSON ENTERPRISES INC | [FERG](https://holderbook.com/stocks/FERG/) | $344.3M | 1,450,594 | 6.4% | 7 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $332.3M | 2,816,178 | 6.1% | 4 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $322.4M | 1,185,395 | 6.0% | 4 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $240.6M | 701,355 | 4.4% | 2 |
| WESCO INTL INC | [WCC](https://holderbook.com/stocks/WCC/) | $229.0M | 662,881 | 4.2% | 10 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $227.9M | 687,000 | 4.2% | 2 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $178.6M | 1,409,000 | 3.3% | 2 |
| NORWEGIAN CRUISE LINE HLDGS | [NCLH](https://holderbook.com/stocks/NCLH/) | $163.2M | 7,730,000 | 3.0% | 2 |
| MOLINA HEALTHCARE INC | [MOH](https://holderbook.com/stocks/MOH/) | $144.9M | 633,609 | 2.7% | 3 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $136.7M | 619,000 | 2.5% | 1 |
| HERBALIFE LTD | [HLF](https://holderbook.com/stocks/HLF/) | $121.8M | 9,259,844 | 2.2% | 15 |
| EAGLE MATLS INC | [EXP](https://holderbook.com/stocks/EXP/) | $119.4M | 530,763 | 2.2% | 10 |
| GDS HLDGS LTD | [GDS](https://holderbook.com/stocks/GDS/) | $113.2M | 3,769,818 | 2.1% | 10 |
| AMERICOLD REALTY TRUST INC | [COLD](https://holderbook.com/stocks/COLD/) | $107.4M | 6,830,230 | 2.0% | 4 |
| LIBERTY GLOBAL LTD | [LBTYK](https://holderbook.com/stocks/LBTYK/) | $94.0M | 8,543,161 | 1.7% | 11 |
| GRUPO AEROMEXICO SAB DE CV | [AERO](https://holderbook.com/stocks/AERO/) | $87.8M | 4,880,188 | 1.6% | 3 |
| AXALTA COATING SYS LTD | [AXTA](https://holderbook.com/stocks/AXTA/) | $43.6M | 1,274,356 | 0.8% | 1 |
| DNOW INC | [DNOW](https://holderbook.com/stocks/DNOW/) | $36.2M | 2,788,000 | 0.7% | 2 |
| PERSHING SQUARE INC | - | $12.9M | 392,000 | 0.2% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +11.3% | +14.8% | -3.6% | 100% |
| Q1 2026 | -5.8% | -4.6% | -1.2% | 100% |
| Q4 2025 | +4.7% | +2.4% | +2.3% | 99% |
| Q3 2025 | +10.5% | +7.8% | +2.7% | 100% |
| Q2 2025 | +5.6% | +10.5% | -4.9% | 100% |
| Q1 2025 | -2.0% | -4.6% | +2.5% | 100% |
| Q4 2024 | -14.2% | +2.1% | -16.3% | 100% |
| Q3 2024 | +12.7% | +5.4% | +7.2% | 97% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.4B | 23 |
| Q1 2026 | $5.1B | 22 |
| Q4 2025 | $5.3B | 22 |
| Q3 2025 | $4.8B | 22 |
| Q2 2025 | $4.1B | 23 |
| Q1 2025 | $3.5B | 23 |
| Q4 2024 | $3.4B | 22 |
| Q3 2024 | $3.5B | 21 |
| Q2 2024 | $3.6B | 24 |
| Q1 2024 | $3.7B | 22 |
| Q4 2023 | $4.6B | 23 |
| Q3 2023 | $5.2B | 32 |