Baupost Group LLC

Institutional manager·Seth Klarman·CIK 0001061768
Latest Qtr return
+13.2%
SPY latest qtr
+17.6%
Alpha
-4.4ptsvs SPY
Invested
$5.1M
Holdings
22
Trades YTD
9

Performance · Fund vs SPY

Cumulative return · quarterly snapshots
+0%+75%Baupost +68.7%SPY +72.2%Q1 '25Q2 '25Q3 '25Q4 '25

Coverage 99%. 4 quarters of 2025 measured against SPY adj-close benchmark.

EDITORIAL BRIEF · refreshed Jul 2, 2026

Why follow Baupost Group LLC right now?

Baupost Group's Q1 2026 13F-HR (period ending 2026-03-31) reports $5M in disclosed equity holdings across 22 positions. The portfolio is concentrated at the top: Amazon (12.7%), Restaurant Brands International (11.7%), and WESCO International (7.7%) collectively account for roughly a third of reported weight. Insurance intermediaries AON and Willis Towers Watson together represent approximately 10% of the book.

Quarter-over-quarter share count changes show Americold Realty Trust up 124%, Amazon up 47%, and Ferguson Enterprises up 27%. The sector mix spans logistics infrastructure, industrials, managed care, and payments. Q1 2026 returned +13.2% against SPY's +17.6%, a -4.4% alpha gap; the prior quarter posted +1.8% alpha. Past performance is not indicative of future results.

Generated from public SEC filings. Not investment advice.…

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Top holdings · current snapshot

Source: 13F-HR
01
$AMZN
AMAZON COM INC
Q4 2025: Increased +47.0% (2.12M → 3.12M shares)
12.7%
+116417.0%
~$0.21 Mar 2026
02
$QSR
RESTAURANT BRANDS INTL INC
Held since at least Q1 2024
11.7%
+102077.1%
~$0.07 Mar 2026
03
$WCC
WESCO INTL INC
Q4 2025: Increased +1.3% (1.42M → 1.44M shares)
7.7%
+112962.0%
~$0.27 Mar 2026
04
$UNP
UNION PAC CORP
Q4 2025: Sold 5.3% (1.63M → 1.54M shares)
7.3%
+108151.6%
~$0.24 Mar 2026
05
$ELV
ELEVANCE HEALTH INC FORMERLY
Q4 2025: Increased +0.5% (1.27M → 1.28M shares)
7.3%
+134209.3%
~$0.29 Mar 2026
06
$GOOG
ALPHABET INC
Q4 2025: Increased +8.6% (1.09M → 1.18M shares)
6.6%
+131124.4%
~$0.29 Mar 2026
07
$FERG
FERGUSON ENTERPRISES INC
Q4 2025: Increased +26.9% (1.14M → 1.44M shares)
6.6%
+96873.3%
~$0.23 Mar 2026
08
$WTW
WILLIS TOWERS WATSON PLC LTD
Q4 2025: Sold 34.2% (1.36M → 893.1k shares)
5.1%
+108578.9%
~$0.29 Mar 2026
09
$AON
AON PLC
Held since at least Q1 2024
4.9%
+116747.3%
~$0.32 Mar 2026
10
$V
VISA INC
Held since at least Q1 2024
4.1%
+108581.6%
~$0.30 Mar 2026
See all 22 holdings · Pro →

Recent trades · Last 90 days

Baupost Group LLC
13D activist · Seth Klarman
STAKE
—SC 13G
—
Dec 5SEC_13DG
Baupost Group LLC
13D activist · Seth Klarman
STAKE
—SC 13G/A
—
Nov 13SEC_13DG
Baupost Group LLC
13D activist · Seth Klarman
STAKE
$CLVTSC 13G
—
Nov 13SEC_13DG
Baupost Group LLC
13D activist · Seth Klarman
STAKE
$HLFSC 13G
—
Nov 13SEC_13DG
Baupost Group LLC
13D activist · Seth Klarman
STAKE
—SC 13G/A
—
Nov 13SEC_13DG
See full trade history →

Convergence · Baupost Group LLC

Pattern cards reflect public SEC EDGAR and Congressional filing data only. Detection uses filing dates; trade execution dates may differ. Past convergence patterns do not predict future returns. Nothing here is investment advice.

Source data: SEC EDGAR · 13F-HR filings · Performance through 2026-03-31 · Last refreshed 11:06 UTC.