Klarman
Portfolio value$5.4B
Positions23
QuarterQ2 2026ended 2026-06-30
Filed08/132026
Baupost Group LLC's Q2 2026 13F, filed Aug 13, 2026, reports 23 positions worth $5.4B. The ten largest are 74.9% of the book, led by Amazon at 16.5%, Elevance Health at 9.1% and Restaurant Brands Intl Inc at 9.0%. Against Q1 2026: 3 bought, 6 added to, 9 reduced, 2 sold; the largest moves were reduced Wesco Intl Inc (−54%) and sold Willis Towers Watson.
Where the money is
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Holdings
| Ticker | Issuer | Weight | Value | Q-end → now | Price vs model | Change |
|---|---|---|---|---|---|---|
| AMZN | Amazon Com INC | 16.5% | $892.3M3.7M sh | 238.34 → +5% | 182% overvalued | added +20% |
| ELV | Elevance Health INC Formerly | 9.1% | $493.1M1.3M sh | 386.73 → +11% | 20% undervalued | held |
| QSR | Restaurant Brands Intl INC | 9.0% | $489.6M6.8M sh | 72.50 | — | reduced −16% |
| GOOG | Alphabet INC | 9.0% | $484.7M1.4M sh | 353.33 → −5% | 49% overvalued | added +16% |
| FERG | Ferguson Enterprises INC | 6.4% | $344.3M1.5M sh | 237.33 → −2% | 37% overvalued | added +1% |
| GPC | Genuine Parts CO | 6.1% | $332.3M2.8M sh | 117.98 → +14% | 57% overvalued | added +89% |
| UNP | Union Pac Corp | 6.0% | $322.4M1.2M sh | 272.00 → +6% | 23% overvalued | reduced −23% |
| V | Visa INC | 4.4% | $240.6M701,355 sh | 343.09 → +17% | 40% overvalued | held |
| WCC | Wesco Intl INC | 4.2% | $229.0M662,881 sh | 345.43 | — | reduced −54% |
| AON | Aon PLC | 4.2% | $227.9M687,000 sh | 331.69 → −12% | 19% undervalued | reduced −11% |
| TFX | Teleflex Incorporated | 3.3% | $178.6M1.4M sh | 126.76 | — | reduced −12% |
| NCLH | Norwegian Cruise Line Hldgs | 3.0% | $163.2M7.7M sh | 21.11 → −29% | 19% undervalued | added +113% |
| MOH | Molina Healthcare INC | 2.7% | $144.9M633,609 sh | 228.70 | — | held |
| CME | Cme Group INC | 2.5% | $136.7M619,000 sh | 220.83 → +33% | 18% overvalued | bought |
| HLF | Herbalife LTD | 2.2% | $121.8M9.3M sh | 13.15 | — | held |
| EXP | Eagle Matls INC | 2.2% | $119.4M530,763 sh | 225.00 | — | reduced −41% |
| GDS | Gds Hldgs LTD | 2.1% | $113.2M3.8M sh | 30.03 | — | added +24% |
| COLD | Americold Realty Trust INC | 2.0% | $107.4M6.8M sh | 15.72 | — | reduced −12% |
| LBTYK | Liberty Global LTD | 1.7% | $94.0M8.5M sh | 11.00 | — | reduced −36% |
| AERO | Grupo Aeromexico Sab de Cv | 1.6% | $87.8M4.9M sh | 18.00 | — | held |
| AXTA | Axalta Coating Sys LTD | 0.8% | $43.6M1.3M sh | 34.22 | — | bought |
| DNOW | Dnow INC | 0.7% | $36.2M2.8M sh | 12.97 | — | reduced −23% |
| PS | Pershing Square INC | 0.2% | $12.9M392,000 sh | 32.86 | — | bought |
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.