Baupost Group
Seth Klarman · CIK 0001061768 · latest 13F for 2026-06-30 filed 2026-08-13
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
The Baupost Group is a Boston-based investment manager founded in 1982 that employs a long-term, value-oriented, and multi-strategy approach. Led by CEO Seth Klarman, the firm manages capital for families, foundations, and endowments, investing across a broad range of asset classes including public and private credit, equity, and real estate.
Investment approach
Baupost employs a long-term, value-oriented, and multi-strategy approach, seeking mispriced assets on a bottom-up basis. The firm focuses on business fundamentals and catalysts for value realization while maintaining a flexible mandate that allows it to invest across diverse asset classes, including public and private credit, equity, and real estate. It is known for being risk-averse, often holding significant cash when attractive opportunities are scarce, and avoiding recourse leverage on its portfolio.
History
The Baupost Group was founded in 1982 by four families—William Poorvu, Howard Stevenson, Jordan Baruch, and Isaac Auerbach—who pooled their capital to be managed by Seth Klarman. The firm's name is an acronym derived from the founders' surnames. Over the decades, it has grown from its initial $30 million in assets into one of the largest value-oriented investment firms in the country.
Notable positions & campaigns
- Amazon.com, Inc.2026 — Largest holding in the firm's 13F portfolio as of Q2 2026.
- Walnut Place LLC (Bank of America litigation)2011-2012 — Legal challenge involving distressed bond settlements to force an increase in settlement of sub-prime bonds.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- William J. Poorvu, Howard H. Stevenson, Jordan Baruch, Isaac Auerbach
- Founded
- 1982
- HQ
- Boston, United States
- Reported AUM
- $24.7bn (as of March 30, 2026)
- Website
- baupost.com
Management
- Seth Andrew KlarmanPartner and Chief Executive Officer
- James Francis MooneyPartner and President
- Elaine Frazer MannPartner and Chief Operating Officer
- Jason James PricePartner and Chief Financial Officer
- Frederick Harold FogelPartner and General Counsel
Holdings heatmap
Latest 13F (2026-06-30): top 23 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | AMZN | $892M | 16.5% |
| 2 | ELV | $493M | 9.1% |
| 3 | QSR | $490M | 9.0% |
| 4 | GOOG | $485M | 9.0% |
| 5 | FERG | $344M | 6.4% |
| 6 | GPC | $332M | 6.1% |
| 7 | UNP | $322M | 6.0% |
| 8 | V | $241M | 4.4% |
| 9 | WCC | $229M | 4.2% |
| 10 | — | $228M | 4.2% |
| 11 | TFX | $179M | 3.3% |
| 12 | — | $163M | 3.0% |
| 13 | MOH | $145M | 2.7% |
| 14 | CME | $137M | 2.5% |
| 15 | — | $122M | 2.2% |
| 16 | EXP | $119M | 2.2% |
| 17 | GDS | $113M | 2.1% |
| 18 | COLD | $107M | 2.0% |
| 19 | — | $94M | 1.7% |
| 20 | AERO | $88M | 1.6% |
| 21 | — | $44M | 0.8% |
| 22 | DNOW | $36M | 0.7% |
| 23 | PS | $13M | 0.2% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| exited | — | 5.1% | 0.0% |
| added | AMZN | 12.7% | 16.5% |
| trimmed | WCC | 7.7% | 4.2% |
| added | GPC | 3.1% | 6.1% |
| trimmed | QSR | 11.7% | 9.0% |
| new | CME | 0.0% | 2.5% |
| added | GOOG | 6.6% | 9.0% |
| added | — | 1.3% | 3.0% |
| trimmed | UNP | 7.3% | 6.0% |
| trimmed | — | 3.1% | 1.7% |
| trimmed | EXP | 3.3% | 2.2% |
| exited | PCVX | 0.9% | 0.0% |
| new | — | 0.0% | 0.8% |
| trimmed | — | 4.9% | 4.2% |
| trimmed | TFX | 3.7% | 3.3% |
| added | GDS | 2.4% | 2.1% |
| trimmed | COLD | 1.7% | 2.0% |
| new | PS | 0.0% | 0.2% |
| trimmed | DNOW | 0.8% | 0.7% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -3.9% | -0.1% | -3.9% | 82% |
| 2026-03-31 | +3.1% | +5.3% | -2.2% | 76% |
| 2025-12-31 | +4.8% | +8.5% | -3.8% | 75% |
| 2025-09-30 | +9.5% | +1.9% | +7.6% | 68% |
| 2025-06-30 | +9.8% | +4.5% | +5.3% | 68% |
| 2025-03-31 | +17.2% | +9.6% | +7.7% | 63% |
| 2024-12-31 | -3.3% | -2.9% | -0.4% | 49% |
| 2024-09-30 | +2.5% | +3.1% | -0.6% | 38% |
| 2024-06-30 | +2.4% | +9.5% | -7.0% | 38% |
| 2024-03-31 | -1.9% | +3.0% | -4.9% | 44% |
| 2023-12-31 | +8.6% | +6.6% | +2.1% | 49% |
| 2023-09-30 | +7.0% | +11.6% | -4.5% | 46% |
| 2023-06-30 | -6.3% | +0.5% | -6.7% | 57% |
| 2023-03-31 | +2.8% | +8.9% | -6.1% | 47% |
| 2022-12-31 | +5.6% | +0.5% | +5.1% | 51% |
| 2022-09-30 | +13.4% | +4.0% | +9.3% | 51% |
Filing dates
- 2026-08-1313F-HR for 2026-06-30 · $5.4B · 23 rows
- 2026-05-1413F-HR for 2026-03-31 · $5.1B · 22 rows
- 2026-02-1313F-HR for 2025-12-31 · $5.3B · 22 rows
- 2025-11-1313F-HR for 2025-09-30 · $4.8B · 22 rows
- 2025-08-1313F-HR for 2025-06-30 · $4.1B · 23 rows
- 2025-05-1413F-HR for 2025-03-31 · $3.5B · 23 rows
- 2025-02-1313F-HR for 2024-12-31 · $3.4B · 22 rows
- 2024-11-1313F-HR for 2024-09-30 · $3.5B · 21 rows
- 2024-08-1313F-HR for 2024-06-30 · $3.6B · 24 rows
- 2024-05-1413F-HR for 2024-03-31 · $3.7B · 22 rows
- 2024-02-1313F-HR for 2023-12-31 · $4.6B · 23 rows
- 2023-11-1313F-HR for 2023-09-30 · $5.2B · 32 rows
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