Baupost Group
13F Holdings and Portfolio Analysis
Seth Klarman 2026 Q1 13F holdings, quarterly changes, portfolio value trend and position weight distribution.
Baupost Group Overview
Baupost Group held 22 stocks in 2026 Q1, with total market value around $5.12B.
Baupost Group's top five holdings in 2026 Q1: Amazon.com, Inc.(AMZN) 12.70%, Restaurant Brands International Inc.(QSR) 11.67%, WESCO INTL INC COM(WCC) 7.69%, Union Pacific Corp (UNP) COMMON(UNP) 7.31%, ELEVANCE HEALTH INC FORMERLY COM(ELV) 7.30%.
- Portfolio Value
- $5.12B
- Current Holdings
- 22 stocks
- New / Increased
- 6 / 9
- Reduced / Exited
- 4 / 6
Current Holdings
| 1 | Amazon.com, Inc.AMZN | 0.65 | 12.70% | 3.12 +47.01% | $208.27 | $264.24 +26.87% | $223.61 | +1.00 | 0.50 | +$0.13B+18.17% | Increased |
| 2 | Restaurant Brands International Inc.QSR | 0.60 | 11.67% | 8.08 - | $73.91 | $68.67 -7.09% | $64.87 | 0.00 | 1.75 | +$0.03B+5.86% | Held |
| 3 | WESCO INTL INC COMWCC | 0.39 | 7.69% | 1.44 +1.27% | $273.62 | - | $178.29 | +0.02 | 2.25 | +$0.14B+53.47% | Increased |
| 4 | Union Pacific Corp (UNP) COMMONUNP | 0.37 | 7.31% | 1.54 -5.30% | $242.62 | - | $235.96 | -0.09 | 0.75 | +$0.01B+2.82% | Reduced |
| 5 | ELEVANCE HEALTH INC FORMERLY COMELV | 0.37 | 7.30% | 1.28 +0.46% | $292.75 | $391.52 +33.74% | $362.13 | +0.01 | 1.25 | +$0.04B+8.12% | Increased |
| 6 | ALPHABET INC CAP STK CL CGOOG | 0.34 | 6.62% | 1.18 +8.64% | $286.86 | $371.98 +29.67% | $234.31 | +0.09 | 6.25 | +$0.16B+58.76% | Increased |
| 7 | FERGUSON ENTERPRISES INC COMMON STOCKFERG | 0.34 | 6.58% | 1.44 +26.86% | $233.26 | $220.91 -5.30% | $187.02 | +0.31 | 1.50 | +$0.05B+18.12% | Increased |
| 8 | WILLIS TOWERS WATSON PLC LTD SHSWLTW | 0.26 | 5.08% | 0.89 -34.21% | $290.70 | - | $247.73 | -0.46 | 5.25 | +$0.04B+17.34% | Reduced |
| 9 | Aon plcAON | 0.25 | 4.85% | 0.77 | $322.78 | $320.10 -0.83% | $322.78 | +0.77 | 0.25 | -$0.00B-0.83% | New |
| 10 | Visa Inc.V | 0.21 | 4.14% | 0.70 | $302.24 | $320.44 +6.02% | $302.24 | +0.70 | 0.25 | +$0.01B+6.02% | New |
| 11 | Teleflex Inc (TFX) COMMONTFX | 0.19 | 3.73% | 1.59 | $119.61 | - | $119.61 | +1.59 | 0.25 | $0.00B0.00% | New |
| 12 | EAGLE MATLS INC COMEXP | 0.17 | 3.31% | 0.89 -24.68% | $189.45 | - | $237.87 | -0.29 | 2.25 | -$0.04B-20.36% | Reduced |
| 13 | GENUINE PARTS CO COMGPC | 0.16 | 3.08% | 1.49 +0.29% | $105.75 | - | $137.55 | +0.00 | 0.75 | -$0.05B-23.12% | Increased |
| 14 | LIBERTY GLOBAL LTD COM CL CLBTYA | 0.16 | 3.07% | 13.40 -35.85% | $11.73 | - | $18.64 | -7.49 | 2.50 | -$0.09B-37.07% | Reduced |
| 15 | HERBALIFE LTD COM SHSHLF | 0.14 | 2.66% | 9.26 - | $14.72 | - | $10.57 | 0.00 | 3.50 | +$0.04B+39.28% | Held |
| 16 | GDS Holdings LimitedGDS | 0.12 | 2.40% | 3.04 - | $40.29 | $35.45 -12.01% | $7.67 | 0.00 | 2.25 | +$0.08B+361.90% | Held |
| 17 | AMERICOLD REALTY TRUST INC COMCOLD | 0.09 | 1.74% | 7.78 +123.86% | $11.46 | - | $11.81 | +4.31 | 0.75 | -$0.00B-2.95% | Increased |
| 18 | MOLINA HEALTHCARE INC COMMOH | 0.08 | 1.65% | 0.63 +1.38% | $133.30 | - | $172.99 | +0.01 | 0.50 | -$0.03B-22.95% | Increased |
| 19 | GRUPO AEROMEXICO SAB DE CVAERO | 0.07 | 1.34% | 4.88 +0.52% | $14.01 | - | $21.92 | +0.03 | 0.50 | -$0.04B-36.08% | Increased |
| 20 | NORWEGIAN CRUISE LINE HLDGS SHSNCLH | 0.07 | 1.33% | 3.63 | $18.70 | - | $18.70 | +3.63 | 0.25 | $0.00B0.00% | New |
| 21 | VAXCYTE INC COMPCVX | 0.05 | 0.91% | 0.80 | $58.11 | - | $58.11 | +0.80 | 0.25 | $0.00B0.00% | New |
| 22 | DNOW Inc.DNOW | 0.04 | 0.84% | 3.63 | $11.91 | $12.79 +7.39% | $11.91 | +3.63 | 0.25 | +$0.00B+7.39% | New |
Showing 1-22 of 22
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis is an estimate and can differ materially from the actual cost, especially in edge cases.
Cost basis estimate: from the latest uninterrupted holding period, new or increased shares are added to the cost pool at the report price; reductions remove shares at the then-average cost. Example: buy 100 shares at $10 in Q1 and add 50 shares at $16 in Q2, estimated cost basis is (100 x 10 + 50 x 16) / 150 = $12 per share.
Return shows estimated dollar return on top and percentage return below. It uses current price when available, otherwise report price.
Exited Holdings
Stocks no longer disclosed in the current 13F portfolio for 2026 Q1.
| 1 | FIDELITY NATL INFORMATION SV COMFIS | 4.50 | 1.00 | $73.82 | $66.46 | -$0.03B-9.97% |
| 2 | DOLLAR GEN CORP NEW COMDG | 2.06 | 1.50 | $90.91 | $132.77 | +$0.09B+46.05% |
| 3 | FISERV INC COMFISV | 2.20 | 0.75 | $109.98 | $67.17 | -$0.09B-38.93% |
| 4 | CRH PLC (CRH) COMMONCRH | 1.07 | 2.50 | $92.57 | $105.12 | +$0.01B+13.55% |
| 5 | LIBERTY GLOBAL LTD COM CL ALBTYA | 2.08 | 2.25 | $17.77 | $12.09 | -$0.01B-31.96% |
| 6 | TAMBORAN RES CORP COMTBN | 0.26 | 1.50 | $20.32 | $49.99 | +$0.01B+146.02% |
Showing 1-6 of 6
Exited holdings are stocks disclosed in the previous report period but no longer disclosed in the current 13F portfolio.
"Holding Period (yrs)" is the latest uninterrupted holding duration, calculated by dividing continuous reported quarters by 4.
Cost basis uses the same weighted cost-pool method as current holdings. Estimated exit price uses the current report period weighted report price when available, otherwise the previous report price; it does not represent the actual sale price.
Exit return shows estimated dollar return on top and percentage return below.
Portfolio Visuals
Track portfolio value, position weights and Top 10 history.