DOSSIER · 13F-HR · Q1 2026

BAUPOST GROUP LLC/MA

$5.1B in tracked AUM across 22 positions as of Q1 2026. Managed by Seth Klarman

BG
CIK 0001061768 · last filed Mar 31, 2026
Total AUM
$5.1B
as of Q1 2026
Holdings
22
positions
Whale Score
76
76
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026
Comprehensive Analysis of SEC 13F Filing: BAUPOST GROUP LLC/MA
1. Portfolio Overview

The filing for Baupost Group LLC/MA reports a total portfolio value of approximately $3.43 million as of September 30, 2025, spread across 17 holdings. This represents a decrease in portfolio value of 17.0% compared to the previous quarter's value of $4.13 million.

It is important to contextualize the portfolio size. Baupost Group is a renowned multi-billion dollar institutional asset manager....

The portfolio demonstrates a focused investment approach with a relatively low number of holdings (17), though the concentration is moderate. The top 10 holdings account for the vast majority of the portfolio's value, indicating a willingness to allocate capital meaningfully to high-conviction ideas rather than broad indexing.

2. Key Holdings

The portfolio is anchored by a few significant positions that drive performance:

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
AMZN
AMAZON COM INC
$650M3.1M12.7%
02
QSR
RESTAURANT BRANDS INTL INC
$597M8.1M11.7%
03
WCC
WESCO INTL INC
$393M1.4M7.7%
04
UNP
UNION PAC CORP
$374M1.5M7.3%
05
ELV
ELEVANCE HEALTH INC FORMERLY
$373M1.3M7.3%
06
GOOG
ALPHABET INC
$339M1.2M6.6%
07
FERG
FERGUSON ENTERPRISES INC
$336M1.4M6.6%
08
G96629103
WILLIS TOWERS WATSON PLC LTD
$260M893K5.1%
09
G0403H108
AON PLC
$248M769K4.9%
10
V
VISA INC
$212M701K4.1%

Filing history

2026Q1Mar 31
$5.1B 3.1%
22 positionsView →
2025Q4Dec 31
$5.3B 54.0%
22 positionsView →
2025Q3Sep 30
$3.4B 17.0%
17 positionsView →
2025Q2Jun 30
$4.1B 29.5%
23 positionsLocked
2025Q1Mar 31
$3.2B 7.2%
19 positionsLocked
2024Q4Dec 31
$3.4B 2.3%
22 positionsLocked
2024Q3Sep 30
$3.5B 3.2%
21 positionsLocked
2024Q2Jun 30
$3.6B 0.5%
24 positionsLocked
2024Q1Mar 31
$3.7B 20.4%
22 positionsLocked
2023Q4Dec 31
$4.6B 12.1%
23 positionsLocked
2023Q3Sep 30
$5.2B 7.1%
32 positionsLocked
2023Q2Jun 30
$5.6B 4.0%
29 positionsLocked
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