Baupost Group Llc/ma Holdings Report (Q2 2026) — 13F Stock Portfolio
Baupost Group Llc/maCIK: 0001061768
Momentum followerQuality / disciplined sizingSector-focused
Total reported value
$5.4B
Reporting period: 2026-06-30 · Number of holdings: 23
BAUPOST GROUP LLC/MA disclosed 23 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $5.4B and a quarterly turnover rate of 36.3%.
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Personality snowflake
- Concentration
- 29.74
- Portfolio Stability
- 36.31
- Momentum
- 100
- Sector conviction
- 68.97
- Diversification
- 46
- Sizing Uniformity
- 91.38
Baupost Group Llc/ma's disclosed holdings carry a Herfindahl concentration index of 0.074 — mathematically equivalent to about 13 equally-sized positions, well below its 23 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.86), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out WTW
Add AMZN
+20.0% $242.8M
Trim WCC
-53.9% -$164.2M
Add GPC
+89.0% $174.6M
Trim QSR
-16.4% -$107.6M
New buy CME
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 16.48% | +3.78% | +20.04% | |
| 2 | ELV | Elevance Health Inc | Stock-Healthcare | 9.11% | +1.81% | — | |
| 3 | QSR | Restaurant Brands Intern | Stock-Consumer Disc | 9.04% | -2.63% | -16.42% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 8.95% | +2.33% | +16.15% | |
| 5 | FERG | Ferguson Enterprises Inc | Stock-Industrials | 6.36% | -0.22% | +0.57% | |
| 6 | GPC | Genuine Parts Co | Stock-Consumer Disc | 6.13% | +3.05% | +88.96% | |
| 7 | UNP | Union Pacific CORP | Stock-Industrials | 5.95% | -1.36% | -23.08% | |
| 8 | V | Visa Inc-class A Shares | Stock-Financials | 4.44% | +0.30% | — | |
| 9 | WCC | Wesco International Inc | Stock-Industrials | 4.23% | -3.46% | -53.87% | |
| 10 | AON | Aon plc | Stock-Financials | 4.21% | -0.64% | -10.66% | |
| 11 | TFX | Teleflex Inc | Stock-Healthcare | 3.30% | -0.43% | -11.66% | |
| 12 | NCLH | Norwegian Cruise Line Holdings Ltd. | Stock-Consumer Disc | 3.01% | +1.68% | +112.95% | |
| 13 | MOH | Molina Healthcare Inc | Stock-Healthcare | 2.68% | +1.03% | — | |
| 14 | CME | Cme Group Inc | Stock-Financials | 2.52% | +2.52% | NEW | |
| 15 | HLF | Herbalife Ltd. | Stock-Other | 2.25% | -0.41% | — | |
| 16 | EXP | Eagle Materials Inc | Stock-Materials | 2.21% | -1.11% | -40.55% | |
| 17 | GDS | Gds Holdings LTD - Adr | Stock-Other | 2.09% | -0.31% | +23.81% | |
| 18 | COLD | Americold Realty Trust Inc | Stock-Real Estate | 1.98% | +0.24% | -12.22% | |
| 19 | LBTYA | Liberty Global Ltd. | Stock-Other | 1.74% | -1.33% | -36.23% | |
| 20 | AERO | Grupo Aeromexico Sab De Cv | Stock-Other | 1.62% | +0.28% | — | |
| 21 | AXTA | Axalta Coating Systems Ltd. | Stock-Materials | 0.81% | +0.81% | NEW | |
| 22 | DNOW | Dnow Inc | Stock-Other | 0.67% | -0.17% | -23.09% | |
| 23 | ✓ | Stock-Other | 0.24% | +0.24% | NEW |
Portfolio Performance
Performance for Q3 2026
+4%
Performance Last 4 Quarters
+19.9%
- Stdev
- +18.9%
- Beta
- +1.04
- Alpha
- -4%
- Max Drawdown
- -11.2%
- Annualized Perf
- +16.3%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +1.77
- Stutzer
- +0.27
- Treynor
- +0.16
- Sterling
- +0.88
- Calmar
- +1.45
- Information Ratio
- -0.24
- Tracking Error
- +13.3%
- Stdev Down
- +9.5%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +41.9%
- Worst 12 Months
- +2.2%
- Efficiency Ratio
- +0.38
- Sharpe
- +0.89
- Stdev Sectors
- +11.2%
- Skewness
- +0.39
- Kurtosis
- -0.4
- Upside Potential
- +3.53
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 23 | $5.4B | 36 | ||
| 2026 Q1 | 22 | $5.1B | 50 | ||
| 2025 Q4 | 22 | $5.3B | 31 | ||
| 2025 Q3 | 22 | $4.8B | 54 | ||
| 2025 Q2 | 23 | $4.1B | 0 | ||
| 2025 Q1 | 23 | $3.5B | 100 | ||
| 2024 Q4 | 22 | $3.4B | 0 | ||
| 2024 Q3 | 21 | $3.5B | 0 | ||
| 2024 Q2 | 24 | $3.6B | 0 | ||
| 2024 Q1 | 22 | $3.7B | 0 | ||
| 2023 Q4 | 23 | $4.6B | 0 | ||
| 2023 Q3 | 32 | $5.2B | 0 | ||
| 2023 Q2 | 29 | $5.6B | 0 | ||
| 2023 Q1 | 31 | $5.8B | 0 | ||
| 2022 Q4 | 34 | $6.1B | 0 | ||
| 2022 Q3 | 45 | $5.8B | 0 | ||
| 2022 Q2 | 52 | $6.8B | 0 | ||
| 2022 Q1 | 55 | $9.3B | 0 | ||
| 2021 Q4 | 54 | $10.1B | 0 | ||
| 2021 Q3 | 57 | $10.9B | 0 | ||
| 2021 Q2 | 59 | $12.3B | 100 | ||
| 2021 Q1 | 59 | $12.6B | 47 | ||
| 2020 Q4 | 45 | $10.8B | 50 | ||
| 2020 Q3 | 37 | $9.3B | 36 | ||
| 2020 Q2 | 31 | $8.0B | 39 | ||
| 2020 Q1 | 33 | $6.8B | 66 | ||
| 2019 Q4 | 31 | $9.1B | 35 | ||
| 2019 Q3 | 32 | $8.8B | 31 | ||
| 2019 Q2 | 32 | $11.0B | 27 | ||
| 2019 Q1 | 35 | $11.9B | 70 | ||
| 2018 Q4 | 37 | $11.5B | 38 | ||
| 2018 Q3 | 38 | $13.1B | 31 | ||
| 2018 Q2 | 33 | $11.4B | 40 | ||
| 2018 Q1 | 33 | $10.4B | 21 | ||
| 2017 Q4 | 34 | $10.1B | 38 | ||
| 2017 Q3 | 37 | $8.0B | 19 | ||
| 2017 Q2 | 41 | $8.8B | 22 | ||
| 2017 Q1 | 43 | $8.5B | 40 | ||
| 2016 Q4 | 44 | $7.7B | 45 | ||
| 2016 Q3 | 44 | $7.0B | 55 | ||
| 2016 Q2 | 39 | $7.4B | 23 | ||
| 2016 Q1 | 36 | $6.9B | 45 | ||
| 2015 Q4 | 35 | $5.5B | 50 | ||
| 2015 Q3 | 41 | $6.0B | 52 | ||
| 2015 Q2 | 32 | $6.0B | 14 | ||
| 2015 Q1 | 28 | $6.0B | 27 | ||
| 2014 Q4 | 27 | $5.1B | 46 | ||
| 2014 Q3 | 27 | $5.7B | 51 | ||
| 2014 Q2 | 24 | $6.1B | 51 | ||
| 2014 Q1 | 20 | $4.1B | 32 | ||
| 2013 Q4 | 19 | $3.5B | 15 | ||
| 2013 Q3 | 20 | $3.5B | 53 | ||
| 2013 Q2 | 24 | $4.0B | — |
Holding changes this quarter
Baupost Group Llc/ma's most significant position changes for 2026-06-30: Sold out: Willis Towers Watson Public Limited Company (WTW); New buy: Cme Group Inc (CME); Sold out: Vaxcyte Inc (PCVX); New buy: Axalta Coating Systems Ltd. (AXTA); New buy: .
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +3.8% | +20.04% | Add |
| 2 | GPC | Genuine Parts Co | +3.1% | +88.96% | Add |
| 3 | CME | Cme Group Inc | +2.5% | NEW | New buy |
| 4 | GOOG | Alphabet Inc-cl C | +2.3% | +16.15% | Add |
| 5 | ELV | Elevance Health Inc | +1.8% | — | Unchanged |
| 6 | NCLH | Norwegian Cruise Line Holdings Ltd. | +1.7% | +112.95% | Add |
| 7 | MOH | Molina Healthcare Inc | +1% | — | Unchanged |
| 8 | AXTA | Axalta Coating Systems Ltd. | +0.8% | NEW | New buy |
| 9 | V | Visa Inc-class A Shares | +0.3% | — | Unchanged |
| 10 | AERO | Grupo Aeromexico Sab De Cv | +0.3% | — | Unchanged |
| 11 | COLD | Americold Realty Trust Inc | +0.2% | -12.22% | Trim |
| 12 | ✓ | +0.2% | NEW | New buy | |
| 13 | DNOW | Dnow Inc | -0.2% | -23.09% | Trim |
| 14 | FERG | Ferguson Enterprises Inc | -0.2% | +0.57% | Add |
| 15 | GDS | Gds Holdings LTD - Adr | -0.3% | +23.81% | Add |
| 16 | HLF | Herbalife Ltd. | -0.4% | — | Unchanged |
| 17 | TFX | Teleflex Inc | -0.4% | -11.66% | Trim |
| 18 | AON | Aon plc | -0.6% | -10.66% | Trim |
| 19 | PCVX | Vaxcyte Inc | -0.9% | EXIT | Sold out |
| 20 | EXP | Eagle Materials Inc | -1.1% | -40.55% | Trim |
| 21 | LBTYA | Liberty Global Ltd. | -1.3% | -36.23% | Trim |
| 22 | UNP | Union Pacific CORP | -1.4% | -23.08% | Trim |
| 23 | QSR | Restaurant Brands Intern | -2.6% | -16.42% | Trim |
| 24 | WCC | Wesco International Inc | -3.5% | -53.87% | Trim |
| 25 | WTW | Willis Towers Watson Public Limited Company | -5.1% | EXIT | Sold out |
Filing History
FAQ
What is Baupost Group Llc/ma and what type of investor is it?
Baupost Group Llc/ma is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $5.4B, spread across 23 disclosed positions.
What are Baupost Group Llc/ma's largest equity positions?
Based on the latest 13F filing, Baupost Group Llc/ma's top holdings by market value are:
1. Amazon.com Inc (AMZN) — $892.3M (16.5%)
2. Elevance Health Inc (ELV) — $493.1M (9.1%)
3. Restaurant Brands Intern (QSR) — $489.6M (9.0%)
4. Alphabet Inc-cl C (GOOG) — $484.7M (8.9%)
5. Ferguson Enterprises Inc (FERG) — $344.3M (6.4%)
What changes did Baupost Group Llc/ma make in its most recent portfolio filing?
In the latest reported quarter, Baupost Group Llc/ma made 20 notable position adjustments: 3 new positions were initiated, 6 existing holdings were added to, 9 positions were partially reduced, and 2 were completely exited. The largest of these moves: Sold out: Willis Towers Watson Public Limited Company (WTW); New buy: Cme Group Inc (CME); Sold out: Vaxcyte Inc (PCVX); New buy: Axalta Coating Systems Ltd. (AXTA); New buy:
What sectors does Baupost Group Llc/ma focus on?
Baupost Group Llc/ma is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 37.9%
• Industrials: 18.1%
• Health Care: 16.5%
• Financials: 12.2%
• Communication Services: 9.8%
• Materials: 3.3%
Investment Profile
Baupost Group Llc/ma returned an annualized 16.3% over the trailing 36 months — underperforming the S&P 500 by 4.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 37.9% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 36 over the past 4 quarters — a shift toward more active trading.
It has added to its AMZN position over the past two quarters (+$402.7M, now $892.3M), while trimming LBTYA over the same stretch (-$136.6M, still holding $94.0M).
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Developer Access
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REST API
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