Baupost Group 13F Holdings — Q2 2026

Baupost Group reported 22 US-listed positions worth $5.3M in its 13F for the quarter ended 2026-06-30 (filed 2026-08-13), according to EquiReason's reading of the SEC filing. New positions in Q2 2026: CME, AXTA, PS. Sold out: WTW, PCVX.

Source: 13F-HR on SEC EDGAR · values as the fund reported them · 22 of 23 reported lines matched to US-listed companies (funds, ETFs, options and non-US listings are left out)

Largest positions

#	Company	Value	% of portfolio	Shares	Change in shares
1	AMZN AMAZON COM INC	$892,310	16.7%	3.74M	Added (+20.0%)
2	ELV ELEVANCE HEALTH INC FORMERLY	$493,140	9.3%	1.28M	Unchanged
3	QSR RESTAURANT BRANDS INTL INC	$489,612	9.2%	6.75M	Trimmed (-16.4%)
4	GOOG ALPHABET INC	$484,744	9.1%	1.37M	Added (+16.2%)
5	FERG FERGUSON ENTERPRISES INC	$344,269	6.5%	1.45M	Added (+0.6%)
6	GPC GENUINE PARTS CO	$332,253	6.2%	2.82M	Added (+89.0%)
7	UNP UNION PAC CORP	$322,427	6.1%	1.19M	Trimmed (-23.1%)
8	V VISA INC	$240,628	4.5%	701,355	Unchanged
9	WCC WESCO INTL INC	$228,979	4.3%	662,881	Trimmed (-53.9%)
10	AON AON PLC	$227,871	4.3%	687,000	Trimmed (-10.7%)
11	TFX TELEFLEX INCORPORATED	$178,605	3.4%	1.41M	Trimmed (-11.7%)
12	NCLH NORWEGIAN CRUISE LINE HLDGS	$163,180	3.1%	7.73M	Added (+112.9%)
13	MOH MOLINA HEALTHCARE INC	$144,906	2.7%	633,609	Unchanged
14	CME CME GROUP INC	$136,694	2.6%	619,000	New
15	HLF HERBALIFE LTD	$121,767	2.3%	9.26M	Unchanged
16	EXP EAGLE MATLS INC	$119,422	2.2%	530,763	Trimmed (-40.5%)
17	GDS GDS HLDGS LTD	$113,208	2.1%	3.77M	Added (+23.8%)
18	COLD AMERICOLD REALTY TRUST INC	$107,371	2.0%	6.83M	Trimmed (-12.2%)
19	LBTYK LIBERTY GLOBAL LTD	$93,975	1.8%	8.54M	Trimmed (-36.2%)
20	AXTA AXALTA COATING SYS LTD	$43,608	0.8%	1.27M	New
21	DNOW DNOW INC	$36,160	0.7%	2.79M	Trimmed (-23.1%)
22	PS PERSHING SQUARE INC	$12,881	0.2%	392,000	New

New positions in Q2 2026

#	Company	Value	% of portfolio	Shares
1	CME CME GROUP INC	$136,694	2.6%	619,000
2	AXTA AXALTA COATING SYS LTD	$43,608	0.8%	1.27M
3	PS PERSHING SQUARE INC	$12,881	0.2%	392,000

Sold out in Q2 2026

held at the end of the prior quarter, gone now

Company	Value a quarter earlier	Shares a quarter earlier
WTW	$259,632	893,126
PCVX	$46,488	800,000

Added to

#	Company	Value	% of portfolio	Shares	Change in shares
1	GPC GENUINE PARTS CO	$332,253	6.2%	2.82M	Added (+89.0%)
2	AMZN AMAZON COM INC	$892,310	16.7%	3.74M	Added (+20.0%)
3	NCLH NORWEGIAN CRUISE LINE HLDGS	$163,180	3.1%	7.73M	Added (+112.9%)
4	GOOG ALPHABET INC	$484,744	9.1%	1.37M	Added (+16.2%)
5	GDS GDS HLDGS LTD	$113,208	2.1%	3.77M	Added (+23.8%)
6	FERG FERGUSON ENTERPRISES INC	$344,269	6.5%	1.45M	Added (+0.6%)

Trimmed

#	Company	Value	% of portfolio	Shares	Change in shares
1	WCC WESCO INTL INC	$228,979	4.3%	662,881	Trimmed (-53.9%)
2	UNP UNION PAC CORP	$322,427	6.1%	1.19M	Trimmed (-23.1%)
3	QSR RESTAURANT BRANDS INTL INC	$489,612	9.2%	6.75M	Trimmed (-16.4%)
4	EXP EAGLE MATLS INC	$119,422	2.2%	530,763	Trimmed (-40.5%)
5	LBTYK LIBERTY GLOBAL LTD	$93,975	1.8%	8.54M	Trimmed (-36.2%)
6	AON AON PLC	$227,871	4.3%	687,000	Trimmed (-10.7%)
7	TFX TELEFLEX INCORPORATED	$178,605	3.4%	1.41M	Trimmed (-11.7%)
8	COLD AMERICOLD REALTY TRUST INC	$107,371	2.0%	6.83M	Trimmed (-12.2%)
9	DNOW DNOW INC	$36,160	0.7%	2.79M	Trimmed (-23.1%)

Where all the funds moved together. Which companies the tracked funds crowded into or left together this quarter — and how that compares with the quarters before — is in Research Pro. See plans

Baupost Group — questions

What does Baupost Group own?: Its largest US-listed positions at the end of Q2 2026: AMZN (16.7%), ELV (9.3%), QSR (9.2%), GOOG (9.1%), FERG (6.5%).
What did Baupost Group buy in Q2 2026?: New positions: CME, AXTA, PS. It added to 6 existing positions.
What did Baupost Group sell in Q2 2026?: It sold out of WTW, PCVX and trimmed 9 positions.
When did Baupost Group file its latest 13F?: On 2026-08-13, for the quarter ended 2026-06-30. 13F filings are due 45 days after each quarter ends.

How these figures are read: methodology · EquiReason.

Important information. Holdings on this page are taken from Form 13F filings submitted to the U.S. Securities and Exchange Commission (SEC) and processed automatically by EquiReason. 13F filings are reported up to 45 days after quarter end, list only long positions in certain U.S.-listed securities, and may not reflect the manager's current holdings. They may contain errors, omissions or delays, and EquiReason makes no representation or warranty as to their accuracy, completeness or timeliness. Always verify figures against the original filing on SEC EDGAR before relying on them.

This page is provided for general information and educational purposes only. It does not constitute investment, financial, legal or tax advice, and it is not a recommendation or an offer to buy, sell or hold any security. It does not take into account your objectives, financial situation or needs. Past performance does not guarantee future results; any reliance on this information is at your own risk. See our Disclaimer and Risk Disclosure.