Baupost Group 13F holdings (Seth Klarman)
Baupost Group (Seth Klarman) reported its Q2 2026 13F on Aug 13, 2026. The filing shows a $5.4B US stock portfolio in 23 positions, 50% of it in the top five: Amazon.com (16%), Elevance Health (9.1%), Restaurant Brands Intern (9.0%), Alphabet (8.9%) and Ferguson Enterprises (6.4%). In Q2 2026 it opened 3 new positions, added to 5, trimmed 9 and sold out of 2. At today's prices that book is up 3.7% since the quarter closed. 13F filings arrive up to 45 days after the quarter ends and cover long US-listed positions only, so they show where the money was, not where it is now; this is educational analysis, not investment advice.
Q2 2026 13F, filed Aug 13, 2026. Prices as of Oct 23, 2026. Refreshed weekly from SEC EDGAR.
How big is Baupost Group's stock portfolio?
From the Q2 2026 13F, filed Aug 13, 2026. Prices are today's, so "since quarter-end" is how the book as filed has done since.
What does Baupost Group own?
The positions in its Q2 2026 13F, largest first. "This site's filters" is how many of this site's 8 value filters the stock passes; a stock this site tracks links to its own analysis.
| Stock | Weight | Size | Shares vs. last quarter | Quarters held | Since quarter-end | This site's filters |
|---|---|---|---|---|---|---|
| AMZNAmazon.com Inc | 16.5% | $892M3.7M shares | +20% | 3 | +5.1% | 8/8 |
| ELVElevance Health Inc | 9.1% | $493M1.3M shares | 0% | 6 | +15.1% | 4/8 |
| QSRRestaurant Brands Intern | 9.0% | $490M6.8M shares | -16% | 8+ | +5.4% | n/a |
| GOOGAlphabet Inc | 8.9% | $485M1.4M shares | +16% | 8+ | -9.2% | n/a |
| FERGFerguson Enterprises Inc | 6.4% | $344M1.5M shares | +1% | 7 | -4.2% | 5/8 |
| GPCGenuine Parts Co | 6.1% | $332M2.8M shares | +89% | 4 | +8.5% | 2/8 |
| UNPUnion Pacific Corp | 6.0% | $322M1.2M shares | -23% | 4 | +9.6% | 4/8 |
| VVisa Inc-Class A Shares | 4.4% | $241M701K shares | 0% | 2 | +20.8% | 2/8 |
| WCCWesco International Inc | 4.2% | $229M663K shares | -54% | 8+ | -6.3% | n/a |
| n/aAon Plc | 4.2% | $228M687K shares | -11% | 2 | n/a | n/a |
| TFXTeleflex Inc | 3.3% | $179M1.4M shares | -12% | 2 | +7.7% | n/a |
| n/aNorwegian Cruise Line Hldgs | 3.0% | $163M7.7M shares | +113% | 2 | n/a | n/a |
| MOHMolina Healthcare Inc | 2.7% | $145M634K shares | 0% | 3 | -5.3% | n/a |
| CMECME Group Inc | 2.5% | $137M619K shares | New | 1 | +38.6% | 4/8 |
| n/aHerbalife Ltd | 2.3% | $122M9.3M shares | 0% | 8+ | n/a | n/a |
| EXPEagle Materials Inc | 2.2% | $119M531K shares | -41% | 8+ | -20.6% | n/a |
| GDSGDS Holdings Ltd - Adr | 2.1% | $113M3.8M shares | +24% | 8+ | -26.3% | n/a |
| COLDAmericold Realty Trust Inc | 2.0% | $107M6.8M shares | -12% | 4 | -9.5% | n/a |
| n/aLiberty Global Ltd | 1.7% | $94.0M8.5M shares | -36% | 8+ | n/a | n/a |
| AEROGrupo Aeromexico Sab De Cv | 1.6% | $87.8M4.9M shares | 0% | 3 | -15.5% | n/a |
| n/aAxalta Coating Sys Ltd | 0.8% | $43.6M1.3M shares | New | 1 | n/a | n/a |
| DNOWDNOW Inc | 0.7% | $36.2M2.8M shares | -23% | 2 | +18.8% | n/a |
| PSPershing Square Inc | 0.2% | $12.9M392K shares | New | 1 | +37.1% | n/a |
What did Seth Klarman buy and sell in Q2 2026?
Compared with Q1 2026. A position counts as added or trimmed when its share count moved by 5% or more.
Bought (new)
Added to
Trimmed
Sold out
How has Baupost Group's portfolio changed over time?
The reported stock book each quarter. It includes market moves as well as buying and selling.
| Quarter | Stock book | Positions | Change |
|---|---|---|---|
| Q3 2024 | $3.5B | 20 | n/a |
| Q4 2024 | $3.4B | 21 | -2.3% |
| Q1 2025 | $3.5B | 22 | +1.7% |
| Q2 2025 | $4.1B | 22 | +18.2% |
| Q3 2025 | $4.8B | 20 | +15.8% |
| Q4 2025 | $5.3B | 22 | +10.8% |
| Q1 2026 | $5.1B | 22 | -3.1% |
| Q2 2026 | $5.4B | 23 | +5.9% |
Frequently asked questions about Baupost Group
What does Baupost Group own?
Baupost Group's Q2 2026 13F lists 23 positions worth $5.4B. The largest are Amazon.com (16%), Elevance Health (9.1%), Restaurant Brands Intern (9.0%), Alphabet (8.9%) and Ferguson Enterprises (6.4%), together 50% of the book. The full table is above; each stock this site tracks links to its own analysis.
What did Seth Klarman buy and sell in Q2 2026?
Compared with Q1 2026, Baupost Group opened 3 new positions (CME, Axalta Coating Sys and PS), added to 5, trimmed 9 and sold out of 2 (Willis Towers Watson Plc and PCVX). A position counts as added or trimmed when its share count moved by 5% or more.
How concentrated is Baupost Group's portfolio?
The top position is 17% of the book, the top five 50% and the top ten 75%, across 23 positions. Estimated turnover last quarter was 31% of the book.
When does Baupost Group file its next 13F?
Managers file within 45 days after each quarter ends. For the quarter ending Sep 30, 2026, the deadline is about Nov 16, 2026 (a weekend deadline moves to the next business day). This page updates when the filing is on EDGAR.
Can you see Seth Klarman's cost basis or profit?
No. A 13F lists positions at quarter-end, not what was paid or when, and it excludes shorts and non-US holdings. This page shows each stock's price change since the quarter closed (the whole book as filed is +3.7%, with 88% of it priced) and since the position first appeared, which is a rough read and not their profit.
Where does this data come from?
- Holdings: Baupost Group's Form 13F-HR filings, listed on SEC EDGAR; the latest, filed Aug 13, 2026, is here. The Q2 2026 book was filed Aug 13, 2026.
- Prices and tickers: today's prices are from Finnhub, matched to each filing's securities with OpenFIGI; "since quarter-end" compares today's price with the price implied by the filing (value divided by shares).
- Limits: a 13F covers long US-listed positions only, up to 45 days after the quarter ends: no shorts, no cost basis, no trades inside the quarter. Read the Editorial Standards for how this site treats filings, and Form 13F in the glossary.
About this page
This page lists everything in Baupost Group's latest Form 13F (Seth Klarman): every position, what changed last quarter and how the stocks have moved since. Every figure comes from SEC filings and is refreshed weekly; read the Editorial Standards for the rules, or open Superinvestors to compare all 25 investors. Educational content only, not investment advice.