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Investment firm

Baupost Group LLC

Q2 2026Quarter ended ⁨Jun 30, 2026⁩Filed ⁨Aug 13, 2026⁩

Filing on SEC EDGAR Compare institutions

Baupost Group is the investment firm led by Seth A. Klarman. The holdings are the firm's, not his personal holdings.

Summary

Reported value: $5.42MUnits uncertain
Positions: 23
Top 5 weight: 49.9%
Effective positions: 13.4
Options share: 0.0%

Filer and filing details

Filer of record: BAUPOST GROUP LLC/MA
CIK: 1061768BOSTON, MA
Period analysed: Q2 2026 · Quarter ended ⁨Jun 30, 2026⁩Filed with the SEC on ⁨Aug 13, 2026⁩
Last successful SEC check: Nov 13, 2026, 04:57 UTCHoldings period: Q2 2026 · Stored data synced: Oct 28, 2026, 02:42 UTC
Official source: Filing on SEC EDGARAll 13F filings on EDGAR
Signatory: James F. Mooney III, President and Partner

Key changes

Q1 2026 → Q2 2026

New 3Increased 6Reduced 9Exited 2

Key findings from the filings

The 5 largest positions make up ⁨49.9%⁩ of reported value in ⁨Q2 2026⁩⁨, compared with ⁨46.7%⁩ in ⁨Q1 2026⁩⁩. The largest is ⁨AMAZON COM INC⁩ at ⁨16.5%⁩.
⁨Technology⁩ rose from ⁨9.0%⁩ to ⁨11.0%⁩ of reported value between ⁨Q1 2026⁩ and ⁨Q2 2026⁩. ⁨Financials⁩ fell from ⁨9.9%⁩ to ⁨7.0%⁩ of reported value over the same quarters.Weights move with prices as well as with share counts.
Largest documented increase: ⁨GENUINE PARTS CO⁩ ⁨(GPC) ⁩— ⁨+1,325,830⁩ shares (⁨+89.0%⁩), about ⁨$156.42K⁩ at the period-end value per share.
Largest documented reduction: ⁨WESCO INTL INC⁩ ⁨(WCC) ⁩— ⁨−774,000⁩ shares (⁨−53.9%⁩), about ⁨$267.36K⁩ at the period-end value per share.
⁨3⁩ new positions worth ⁨$193.18K⁩ in ⁨Q2 2026⁩, and ⁨2⁩ positions fully exited (worth ⁨$306.12K⁩ in ⁨Q1 2026⁩).
Reported value changed by ⁨+$300.47K⁩ from ⁨Q1 2026⁩ to ⁨Q2 2026⁩: ⁨+$602.04K⁩ from price moves on shares held in both quarters, ⁨−$188.63K⁩ from changes in share counts, ⁨+$193.18K⁩ from new positions and ⁨−$306.12K⁩ from exits.A change in reported value is not an investment return: most of it can come from price moves.

Each finding is computed from the filed numbers shown on this page.

Largest documented changes

Security	Status	Share change	Weight
WCCWESCO INTL INC	Reduced	−774,000 (−53.9%)	7.7% → 4.2%
WTWWILLIS TOWERS WATSON PLC LTD	Exited	−893,126	5.1% → 0.0%
GPCGENUINE PARTS CO	Increased	+1,325,830 (+89.0%)	3.1% → 6.1%
AMZNAMAZON COM INC	Increased	+625,100 (+20.0%)	12.7% → 16.5%
CMECME GROUP INC	New position	+619,000	0.0% → 2.5%
UNPUNION PAC CORP	Reduced	−355,600 (−23.1%)	7.3% → 6.0%
QSRRESTAURANT BRANDS INTL INC	Reduced	−1,327,000 (−16.4%)	11.7% → 9.0%
NCLHNORWEGIAN CRUISE LINE HLDGS	Increased	+4,100,000 (+112.9%)	1.3% → 3.0%
EXPEAGLE MATLS INC	Reduced	−362,000 (−40.5%)	3.3% → 2.2%
GOOGALPHABET INC	Increased	+190,800 (+16.2%)	6.6% → 9.0%

Changes compare filed share counts at two quarter ends. They are not trades made on a particular day, and a filing does not reveal purchase prices.

Holdings in ⁨Q2 2026⁩

Search security, ticker or CUSIP

Change

	Ticker					Status
AMAZON COM INCCOM · 023135106	AMZN	3,743,854	$892.31K	16.48%	+625,100 (+20.0%)	Increased
ELEVANCE HEALTH INC FORMERLYCOM · 036752103	ELV	1,275,154	$493.14K	9.11%	—	Unchanged
RESTAURANT BRANDS INTL INCCOM · 76131D103	QSR	6,753,112	$489.61K	9.04%	−1,327,000 (−16.4%)	Reduced
ALPHABET INCCAP STK CL C · 02079K107	GOOG	1,371,931	$484.74K	8.95%	+190,800 (+16.2%)	Increased
FERGUSON ENTERPRISES INCCOMMON STOCK NEW · 31488V107	FERG	1,450,594	$344.27K	6.36%	+8,183 (+0.6%)	Increased
GENUINE PARTS COCOM · 372460105	GPC	2,816,178	$332.25K	6.13%	+1,325,830 (+89.0%)	Increased
UNION PAC CORPCOM · 907818108	UNP	1,185,395	$322.43K	5.95%	−355,600 (−23.1%)	Reduced
VISA INCCOM CL A · 92826C839	V	701,355	$240.63K	4.44%	—	Unchanged
WESCO INTL INCCOM · 95082P105	WCC	662,881	$228.98K	4.23%	−774,000 (−53.9%)	Reduced
AON PLCSHS CL A · G0403H108	AON	687,000	$227.87K	4.21%	−82,000 (−10.7%)	Reduced
TELEFLEX INCORPORATEDCOM · 879369106	TFX	1,409,000	$178.6K	3.30%	−186,000 (−11.7%)	Reduced
NORWEGIAN CRUISE LINE HLDGSSHS · G66721104	NCLH	7,730,000	$163.18K	3.01%	+4,100,000 (+112.9%)	Increased
MOLINA HEALTHCARE INCCOM · 60855R100	MOH	633,609	$144.91K	2.68%	—	Unchanged
CME GROUP INCCOM · 12572Q105	CME	619,000	$136.69K	2.52%	+619,000	New position
HERBALIFE LTDCOM SHS · G4412G101	HLF	9,259,844	$121.77K	2.25%	—	Unchanged
EAGLE MATLS INCCOM · 26969P108	EXP	530,763	$119.42K	2.21%	−362,000 (−40.5%)	Reduced
GDS HLDGS LTDSPONSORED ADS · 36165L108	GDS	3,769,818	$113.21K	2.09%	+725,000 (+23.8%)	Increased
AMERICOLD REALTY TRUST INCCOM · 03064D108	COLD	6,830,230	$107.37K	1.98%	−950,570 (−12.2%)	Reduced
LIBERTY GLOBAL LTDCOM CL C · G61188127	LBTYK	8,543,161	$93.97K	1.74%	−4,854,086 (−36.2%)	Reduced
GRUPO AEROMEXICO SAB DE CVSPONSORED ADS · 40054J109	AERO	4,880,188	$87.84K	1.62%	—	Unchanged
AXALTA COATING SYS LTDCOM · G0750C108	AXTA	1,274,356	$43.61K	0.81%	+1,274,356	New position
DNOW INCCOM · 67011P100	DNOW	2,788,000	$36.16K	0.67%	−837,000 (−23.1%)	Reduced
PERSHING SQUARE INCCOMMON STOCK · 71531U102	PS	392,000	$12.88K	0.24%	+392,000	New position
WILLIS TOWERS WATSON PLC LTDSHS · G96629103	WTW	0	$0	0.00%	−893,126	Exited
VAXCYTE INCCOM · 92243G108	PCVX	0	$0	0.00%	−800,000	Exited

Showing ⁨25⁩ of ⁨25⁩

Sectors & concentration

Sector mix in ⁨Q2 2026⁩

Industrials32.4% (+0.1 pp)

Consumer discretionary25.5% (+1.1 pp)

Health care17.3% (+1.1 pp)

Technology11.0% (+2.0 pp)

Financials7.0% (−3.0 pp)

Materials3.0% (−0.3 pp)

Real estate2.0% (+0.2 pp)

Communication1.7% (−1.3 pp)

Q2 2026 Q1 2026

Sectors come from each issuer’s SEC industry code (SIC), grouped broadly. This is not a commercial index classification.

Concentration

Concentration	Q2 2026	Q1 2026
Largest position	16.5%	12.7%
Top 5 weight	49.9%	46.7%
Top 10 weight	74.9%	73.9%
Effective positions	13.4	14.6
Options share	0.0%	0.0%

History

Reported value and positions by period

$4.1MQ2 202523 Positions

$4.8MQ3 202522 Positions

$5.3MQ4 202522 Positions

$5.1MQ1 202622 Positions

$5.4MQ2 202623 Positions

Only periods stored for this page are shown (⁨5⁩). Older filings are on SEC EDGAR. A change in reported value is not an investment return: most of it can come from price moves.

Largest holdings across periods (shares)

Security	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
AMZNAMAZON COM INC	not held	not held	2,121,3919.3%	3,118,75412.7%	3,743,85416.5%
ELVELEVANCE HEALTH INC FORMERLY	616,0005.8%	1,319,0008.9%	1,269,3028.4%	1,275,1547.3%	1,275,1549.1%
QSRRESTAURANT BRANDS INTL INC	4,049,5626.5%	8,252,86211.0%	8,080,11210.4%	8,080,11211.7%	6,753,1129.0%
GOOGALPHABET INC	2,633,98811.3%	1,858,1389.4%	1,087,1816.5%	1,181,1316.6%	1,371,9319.0%
FERGFERGUSON ENTERPRISES INC	1,132,0006.0%	1,155,5005.4%	1,137,0354.8%	1,442,4116.6%	1,450,5946.4%
GPCGENUINE PARTS CO	not held	1,395,0004.0%	1,486,0883.5%	1,490,3483.1%	2,816,1786.1%
UNPUNION PAC CORP	not held	1,496,2047.4%	1,627,2547.1%	1,540,9957.3%	1,185,3956.0%
VVISA INC	not held	not held	not held	701,3554.1%	701,3554.4%
WCCWESCO INTL INC	2,207,6019.9%	1,503,1806.6%	1,418,8316.6%	1,436,8817.7%	662,8814.2%
AONAON PLC	not held	not held	not held	769,0004.9%	687,0004.2%
TFXTELEFLEX INCORPORATED	not held	not held	not held	1,595,0003.7%	1,409,0003.3%
NCLHNORWEGIAN CRUISE LINE HLDGS	not held	not held	not held	3,630,0001.3%	7,730,0003.0%
MOHMOLINA HEALTHCARE INC	not held	not held	625,0002.1%	633,6091.7%	633,6092.7%
CMECME GROUP INC	not held	not held	not held	not held	619,0002.5%
HLFHERBALIFE LTD	7,759,8441.6%	7,759,8441.4%	9,259,8442.3%	9,259,8442.7%	9,259,8442.2%

Sources & method

Filings used

Q2 2026Original report: 0001061768-26-000010 · Aug 13, 2026⁨23⁩ rows as filed → ⁨23⁩ positions after combining managersUnits uncertain
Q1 2026Original report: 0001061768-26-000007 · May 14, 2026⁨22⁩ rows as filed → ⁨22⁩ positions after combining managersUnits uncertain
Q4 2025Original report: 0001061768-26-000005 · Feb 13, 2026⁨22⁩ rows as filed → ⁨22⁩ positions after combining managersUnits uncertain
Q3 2025Original report: 0001061768-25-000007 · Nov 13, 2025⁨22⁩ rows as filed → ⁨22⁩ positions after combining managersUnits uncertain
Q2 2025Original report: 0001061768-25-000005 · Aug 13, 2025⁨23⁩ rows as filed → ⁨23⁩ positions after combining managersUnits uncertain

Data checks

⁨Q2 2026⁩: values may have been reported in thousands of dollars although the form requires whole dollars. This is an inference: for ⁨19⁩ securities, the value per share in this filing is about 1/1000 of what other covered filers reported. Neither the filer nor the SEC has confirmed it, so every figure here is exactly as filed (total ⁨$5.42M⁩); if the inference is right, the total would be about ⁨$5.42B⁩.
⁨Q1 2026⁩: values may have been reported in thousands of dollars although the form requires whole dollars. This is an inference: for ⁨21⁩ securities, the value per share in this filing is about 1/1000 of what other covered filers reported. Neither the filer nor the SEC has confirmed it, so every figure here is exactly as filed (total ⁨$5.12M⁩); if the inference is right, the total would be about ⁨$5.12B⁩.
⁨Q4 2025⁩: values may have been reported in thousands of dollars although the form requires whole dollars. This is an inference: for ⁨20⁩ securities, the value per share in this filing is about 1/1000 of what other covered filers reported. Neither the filer nor the SEC has confirmed it, so every figure here is exactly as filed (total ⁨$5.28M⁩); if the inference is right, the total would be about ⁨$5.28B⁩.
⁨Q3 2025⁩: values may have been reported in thousands of dollars although the form requires whole dollars. This is an inference: for ⁨17⁩ securities, the value per share in this filing is about 1/1000 of what other covered filers reported. Neither the filer nor the SEC has confirmed it, so every figure here is exactly as filed (total ⁨$4.79M⁩); if the inference is right, the total would be about ⁨$4.79B⁩.
⁨Q2 2025⁩: values may have been reported in thousands of dollars although the form requires whole dollars. This is an inference: for ⁨16⁩ securities, the value per share in this filing is about 1/1000 of what other covered filers reported. Neither the filer nor the SEC has confirmed it, so every figure here is exactly as filed (total ⁨$4.13M⁩); if the inference is right, the total would be about ⁨$4.13B⁩.

How these numbers are calculated

Source: the information tables of Form 13F-HR and 13F-HR/A filed by this filer on SEC EDGAR.
Amendments: a restatement replaces the original table; a new-holdings amendment adds rows. Nothing is counted twice.
Rows for the same security (CUSIP, share type and option side) are added together across managers and discretion types.
Values are US dollars as reported at the quarter end. Weights are each line’s share of the period’s total reported value; options count at the value the filer reported.
A change is classified by share count. A stock split adjusts the comparison only when the issuer recorded it in its own SEC filing (XBRL split ratio). A split suggested only by the 13F data, or a CUSIP change matched by ticker or name, is shown as an unverified change, never as a purchase or sale. For positions held in both quarters, the value change is split into a price effect and a share-count effect using the period-end value per share implied by the filing.
When a security’s CUSIP changes but the ticker or issuer stays the same, the two lines are shown as one holding with an unverified change.
If a filing’s value per share is about 1/1000 of what other covered filers reported for the same securities, the page flags that the filer may have reported thousands of dollars. This is an inference, not a confirmation, and values are never changed because of it.
Tickers are matched from CUSIPs through the open FIGI identifier standard; sectors come from issuers’ SEC industry codes. Unmatched lines stay unclassified.
No price information from before a filing’s publication date is used, and nothing here is a return, a forecast or a recommendation.