Baupost Group: 13F holdings, Q2 2026
Concentrated value · SEC EDGAR filings (CIK 0001061768) · Explore on the interactive board
Baupost Group disclosed 23 US equity positions worth $5.4bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 13, 2026). Its largest position is AMZN at 16.5% of the reported book, followed by ELV, QSR. The top ten holdings are 74.9% of the book, and the portfolio behaves like about 13 equal-weight positions. Versus the prior filing it opened 3 new positions, added to 6, reduced 9 and exited 2.
What does Baupost Group own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 3 new, 6 added, 9 reduced, 2 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | AMZN AMAZON COM INC | Consumer Cyclical | 16.5% | $892.3m | 3,743,854 | 20% | added |
| 2 | ELV ELEVANCE HEALTH INC FORMERLY | Healthcare | 9.1% | $493.1m | 1,275,154 | 0% | held |
| 3 | QSR RESTAURANT BRANDS INTL INC | Consumer Cyclical | 9.0% | $489.6m | 6,753,112 | -16% | reduced |
| 4 | GOOG ALPHABET INC | Communication Services | 9.0% | $484.7m | 1,371,931 | 16% | added |
| 5 | FERG FERGUSON ENTERPRISES INC | Industrials | 6.4% | $344.3m | 1,450,594 | 1% | added |
| 6 | GPC GENUINE PARTS CO | Consumer Cyclical | 6.1% | $332.3m | 2,816,178 | 89% | added |
| 7 | UNP UNION PAC CORP | Industrials | 6.0% | $322.4m | 1,185,395 | -23% | reduced |
| 8 | V VISA INC | Financial Services | 4.4% | $240.6m | 701,355 | 0% | held |
| 9 | WCC WESCO INTL INC | Industrials | 4.2% | $229.0m | 662,881 | -54% | reduced |
| 10 | AON AON PLC | Financial Services | 4.2% | $227.9m | 687,000 | -11% | reduced |
| 11 | TFX TELEFLEX INCORPORATED | Healthcare | 3.3% | $178.6m | 1,409,000 | -12% | reduced |
| 12 | NCLH NORWEGIAN CRUISE LINE HLDGS | Consumer Cyclical | 3.0% | $163.2m | 7,730,000 | 113% | added |
| 13 | MOH MOLINA HEALTHCARE INC | Healthcare | 2.7% | $144.9m | 633,609 | 0% | held |
| 14 | CME CME GROUP INC | Financial Services | 2.5% | $136.7m | 619,000 | – | new |
| 15 | HLF HERBALIFE LTD | Consumer Defensive | 2.2% | $121.8m | 9,259,844 | 0% | held |
| 16 | EXP EAGLE MATLS INC | Basic Materials | 2.2% | $119.4m | 530,763 | -41% | reduced |
| 17 | GDS GDS HLDGS LTD | Technology | 2.1% | $113.2m | 3,769,818 | 24% | added |
| 18 | COLD AMERICOLD REALTY TRUST INC | Real Estate | 2.0% | $107.4m | 6,830,230 | -12% | reduced |
| 19 | LIBERTY GLOBAL LTD | 1.7% | $94.0m | 8,543,161 | -36% | reduced | |
| 20 | GRUPO AEROMEXICO SAB DE CV | 1.6% | $87.8m | 4,880,188 | 0% | held | |
| 21 | AXALTA COATING SYS LTD | 0.8% | $43.6m | 1,274,356 | – | new | |
| 22 | DNOW DNOW INC | Industrials | 0.7% | $36.2m | 2,788,000 | -23% | reduced |
| 23 | PERSHING SQUARE INC | 0.2% | $12.9m | 392,000 | – | new |
What did Baupost Group sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| WTW WILLIS TOWERS WATSON PLC LTD | 84.8% | $259.6m |
| PCVX VAXCYTE INC | 15.2% | $46.5m |
Sector mix
| Sector | Weight |
|---|---|
| Consumer Cyclical | 34.7% |
| Industrials | 17.2% |
| Healthcare | 15.1% |
| Financial Services | 11.2% |
| Communication Services | 9.0% |
| Consumer Defensive | 2.2% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q2 2026 | 23 | $5.4bn |
| Q1 2026 | 22 | $5.1bn |
| Q4 2025 | 22 | $5.3bn |
| Q3 2025 | 22 | $4.8bn |
| Q2 2025 | 23 | $4.1bn |
| Q1 2025 | 23 | $3.5bn |
| Q4 2024 | 22 | $3.4bn |
| Q3 2024 | 21 | $3.5bn |
| Q2 2024 | 24 | $3.6bn |
| Q1 2024 | 22 | $3.7bn |
| Q4 2023 | 23 | $4.6bn |
| Q3 2023 | 32 | $5.2bn |
| Q2 2023 | 29 | $5.6bn |
| Q1 2023 | 31 | $5.8bn |
| Q4 2022 | 34 | $6.1bn |
| Q3 2022 | 45 | $5.8bn |
Earliest filing: Q1 1999 · 104 quarters on file
How concentrated is Baupost Group's portfolio?
Across every quarter Baupost Group has filed, its median largest position is 18.1% of the book and its median top-ten weight is 78.0%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 583 completed holding spells, the median lasted 3.0 quarters; 23 positions are still open and their final length is unknown.