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Hedge fund

Baupost Group LLC

13F for the quarter to June 30, 2026, filed August 13, 2026 · SEC CIK 1061768

Reported value
$5.4m
91% in companies we cover
Positions we cover
22
Largest AMZN 16.5%
Copy, a year
+4.6%
S&P 500 +14.1%
Copy Sharpe ratio
0.22
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$18.1k
CopyS&P 500 $10,000 copying Baupost Group LLC's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −51.1% (S&P 500 −31.8%); beta 1.08; alpha −8.2% a year (t = −1.88); last 12 months +13.5% against +12.1%.

Reported value by quarter

Baupost Group LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $5B $10B $15B Reported value, 2013-06-30: $3.9B Reported value, 2013-09-30: $3.5B Reported value, 2013-12-31: $3.5B Reported value, 2014-03-31: $4.1B Reported value, 2014-06-30: $6.1B Reported value, 2014-09-30: $5.7B Reported value, 2014-12-31: $5.1B Reported value, 2015-03-31: $5.9B Reported value, 2015-06-30: $6B Reported value, 2015-09-30: $6B Reported value, 2015-12-31: $5.5B Reported value, 2016-03-31: $6.9B Reported value, 2016-06-30: $7.3B Reported value, 2016-09-30: $7B Reported value, 2016-12-31: $7.6B Reported value, 2017-03-31: $8.4B Reported value, 2017-06-30: $8.7B Reported value, 2017-09-30: $8B Reported value, 2017-12-31: $10.1B Reported value, 2018-03-31: $10.3B Reported value, 2018-06-30: $11.1B Reported value, 2018-09-30: $12.7B Reported value, 2018-12-31: $11.1B Reported value, 2019-03-31: $11.5B Reported value, 2019-06-30: $10.7B Reported value, 2019-09-30: $8.5B Reported value, 2019-12-31: $8.6B Reported value, 2020-03-31: $6.7B Reported value, 2020-06-30: $8B Reported value, 2020-09-30: $9.2B Reported value, 2020-12-31: $10.8B Reported value, 2021-03-31: $12.5B Reported value, 2021-06-30: $12.3B Reported value, 2021-09-30: $10.9B Reported value, 2021-12-31: $10.1B Reported value, 2022-03-31: $9.3B Reported value, 2022-06-30: $6.7B Reported value, 2022-09-30: $5.8B Reported value, 2022-12-31: $6.1B Reported value, 2023-03-31: $5.8M Reported value, 2023-06-30: $5.5M Reported value, 2023-09-30: $5.1M Reported value, 2023-12-31: $4.6M Reported value, 2024-03-31: $3.5M Reported value, 2024-06-30: $3.5M Reported value, 2024-09-30: $3.5M Reported value, 2024-12-31: $3.4M Reported value, 2025-03-31: $3.5M Reported value, 2025-06-30: $4.1M Reported value, 2025-09-30: $4.8M Reported value, 2025-12-31: $5.3M Reported value, 2026-03-31: $5.1M Reported value, 2026-06-30: $5.4M 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $5.4M
View chart data
Period Reported value
2013-06-30 $3.9B
2013-09-30 $3.5B
2013-12-31 $3.5B
2014-03-31 $4.1B
2014-06-30 $6.1B
2014-09-30 $5.7B
2014-12-31 $5.1B
2015-03-31 $5.9B
2015-06-30 $6B
2015-09-30 $6B
2015-12-31 $5.5B
2016-03-31 $6.9B
2016-06-30 $7.3B
2016-09-30 $7B
2016-12-31 $7.6B
2017-03-31 $8.4B
2017-06-30 $8.7B
2017-09-30 $8B
2017-12-31 $10.1B
2018-03-31 $10.3B
2018-06-30 $11.1B
2018-09-30 $12.7B
2018-12-31 $11.1B
2019-03-31 $11.5B
2019-06-30 $10.7B
2019-09-30 $8.5B
2019-12-31 $8.6B
2020-03-31 $6.7B
2020-06-30 $8B
2020-09-30 $9.2B
2020-12-31 $10.8B
2021-03-31 $12.5B
2021-06-30 $12.3B
2021-09-30 $10.9B
2021-12-31 $10.1B
2022-03-31 $9.3B
2022-06-30 $6.7B
2022-09-30 $5.8B
2022-12-31 $6.1B
2023-03-31 $5.8M
2023-06-30 $5.5M
2023-09-30 $5.1M
2023-12-31 $4.6M
2024-03-31 $3.5M
2024-06-30 $3.5M
2024-09-30 $3.5M
2024-12-31 $3.4M
2025-03-31 $3.5M
2025-06-30 $4.1M
2025-09-30 $4.8M
2025-12-31 $5.3M
2026-03-31 $5.1M
2026-06-30 $5.4M

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
AMZNAmazon16.48%$892,3103.74M+20.0% Added
ELVElevance Health9.11%$493,1401.28M0.0%
QSRRestaurant Brands International Inc.9.04%$489,6126.75M−16.4% Reduced
FERGFerguson Enterprises6.36%$344,2691.45M+0.6% Added
GPCGenuine Parts Company6.13%$332,2532.82M+89.0% Added
UNPUnion Pacific Corporation5.95%$322,4271.19M−23.1% Reduced
VVisa Inc.4.44%$240,628701.4K0.0%
WCCWesco International Inc4.23%$228,979662.9K−53.9% Reduced
AONAon plc4.21%$227,871687.0K−10.7% Reduced
TFXTeleflex Inc3.30%$178,6051.41M−11.7% Reduced
NCLHNorwegian Cruise Line Holdings3.01%$163,1807.73M+112.9% Added
MOHMolina Healthcare, Inc.2.68%$144,906633.6K0.0%
CMECME Group2.52%$136,694619.0KNew
HLFHerbalife LTD.2.25%$121,7679.26M0.0%
EXPEagle Materials Inc2.21%$119,422530.8K−40.5% Reduced
GDSGDS Holdings Ltd2.09%$113,2083.77M+23.8% Added
COLDAmericold Realty Trust1.98%$107,3716.83M−12.2% Reduced
LBTYKLiberty Global Ltd.1.74%$93,9758.54M−36.2% Reduced
AEROGrupo Aeromexico, S.a.b. De C.v.1.62%$87,8434.88M0.0%
AXTAAxalta Coating Systems Ltd.0.81%$43,6081.27MNew
DNOWDnow Inc.0.67%$36,1602.79M−23.1% Reduced
PSPershing Square Inc.0.24%$12,881392.0KNew
CompanyBought (value)Shares
GPCGenuine Parts Company$156,4221.33M
AMZNAmazon$148,986625.1K
CMECME Group$136,694619.0K
NCLHNorwegian Cruise Line Holdings$86,5514.10M
AXTAAxalta Coating Systems Ltd.$43,6081.27M
GDSGDS Holdings Ltd$21,772725.0K
PSPershing Square Inc.$12,881392.0K
FERGFerguson Enterprises$1,9428.2K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
WCCWesco International Inc−$267,363−774.0K
WTWWillis Towers Watson−$259,632−893.1K
UNPUnion Pacific Corporation−$96,723−355.6K
QSRRestaurant Brands International Inc.−$96,210−1.33M
EXPEagle Materials Inc−$81,450−362.0K
LBTYKLiberty Global Ltd.−$53,395−4.85M
PCVXVaxcyte, Inc.−$46,488−800.0K
AONAon plc−$27,199−82.0K
TFXTeleflex Inc−$23,577−186.0K
COLDAmericold Realty Trust−$14,943−950.6K
DNOWDnow Inc.−$10,856−837.0K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
WTWWillis Towers Watson$259,632893.1K
PCVXVaxcyte, Inc.$46,488800.0K
  • Consumer Discretionary38.1%
  • Industrials20.7%
  • Health Care16.6%
  • Financials12.5%
  • Materials3.3%
  • Consumer Staples2.5%
  • Technology2.3%
  • Real Estate2.2%
  • Communication Services1.9%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+4.6%+14.1%0.220.78−51.1%1.08
2018 onwardsJanuary 5, 2018 to November 2, 2026+1.9%+13.9%0.080.66−51.0%1.03
Last three yearsNovember 3, 2023 to November 2, 2026+17.1%+21.8%0.781.16−17.6%0.64
Last yearNovember 7, 2025 to November 2, 2026+14.7%+14.2%0.740.84−11.5%0.77

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.