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← Baupost Group LLC, latest filing

What Baupost Group LLC changed, 2013 to 2026

53 quarterly 13F filings, from Q2 2013 to Q2 2026, each read from the filing itself. A quarter is compared only with the quarter before it, so a quarter with no filing is a gap in the record, not a sale.

Reported book

$5.4bn

$4.0bn at Q2 2013

Positions

23

24 at Q2 2013

Top ten weight

75%

92% at Q2 2013

Typical quarterly turnover

about 10%

Estimated from share changes

Reported book by quarter
$0$7bn$13bnQ2 2013: $4.0bnQ3 2013: $3.5bnQ4 2013: $3.5bnQ1 2014: $4.1bn14Q2 2014: $6.1bnQ3 2014: $5.7bnQ4 2014: $5.1bnQ1 2015: $6.0bn15Q2 2015: $6.0bnQ3 2015: $6.0bnQ4 2015: $5.5bnQ1 2016: $6.9bn16Q2 2016: $7.4bnQ3 2016: $7.0bnQ4 2016: $7.7bnQ1 2017: $8.5bn17Q2 2017: $8.8bnQ3 2017: $8.0bnQ4 2017: $10.1bnQ1 2018: $10.4bn18Q2 2018: $11.4bnQ3 2018: $13.1bnQ4 2018: $11.5bnQ1 2019: $11.9bn19Q2 2019: $11.0bnQ3 2019: $8.8bnQ4 2019: $9.1bnQ1 2020: $6.8bn20Q2 2020: $8.0bnQ3 2020: $9.3bnQ4 2020: $10.8bnQ1 2021: $12.6bn21Q2 2021: $12.3bnQ3 2021: $10.9bnQ4 2021: $10.1bnQ1 2022: $9.3bn22Q2 2022: $6.8bnQ3 2022: $5.8bnQ4 2022: $6.1bnQ1 2023: $5.8bn23Q2 2023: $5.6bnQ3 2023: $5.2bnQ4 2023: $4.6bnQ1 2024: $3.7bn24Q2 2024: $3.6bnQ3 2024: $3.5bnQ4 2024: $3.4bnQ1 2025: $3.5bn25Q2 2025: $4.1bnQ3 2025: $4.8bnQ4 2025: $5.3bnQ1 2026: $5.1bn26Q2 2026: $5.4bn
  • Q2 2013: $4.0bn
  • Q3 2013: $3.5bn
  • Q4 2013: $3.5bn
  • Q1 2014: $4.1bn
  • Q2 2014: $6.1bn
  • Q3 2014: $5.7bn
  • Q4 2014: $5.1bn
  • Q1 2015: $6.0bn
  • Q2 2015: $6.0bn
  • Q3 2015: $6.0bn
  • Q4 2015: $5.5bn
  • Q1 2016: $6.9bn
  • Q2 2016: $7.4bn
  • Q3 2016: $7.0bn
  • Q4 2016: $7.7bn
  • Q1 2017: $8.5bn
  • Q2 2017: $8.8bn
  • Q3 2017: $8.0bn
  • Q4 2017: $10.1bn
  • Q1 2018: $10.4bn
  • Q2 2018: $11.4bn
  • Q3 2018: $13.1bn
  • Q4 2018: $11.5bn
  • Q1 2019: $11.9bn
  • Q2 2019: $11.0bn
  • Q3 2019: $8.8bn
  • Q4 2019: $9.1bn
  • Q1 2020: $6.8bn
  • Q2 2020: $8.0bn
  • Q3 2020: $9.3bn
  • Q4 2020: $10.8bn
  • Q1 2021: $12.6bn
  • Q2 2021: $12.3bn
  • Q3 2021: $10.9bn
  • Q4 2021: $10.1bn
  • Q1 2022: $9.3bn
  • Q2 2022: $6.8bn
  • Q3 2022: $5.8bn
  • Q4 2022: $6.1bn
  • Q1 2023: $5.8bn
  • Q2 2023: $5.6bn
  • Q3 2023: $5.2bn
  • Q4 2023: $4.6bn
  • Q1 2024: $3.7bn
  • Q2 2024: $3.6bn
  • Q3 2024: $3.5bn
  • Q4 2024: $3.4bn
  • Q1 2025: $3.5bn
  • Q2 2025: $4.1bn
  • Q3 2025: $4.8bn
  • Q4 2025: $5.3bn
  • Q1 2026: $5.1bn
  • Q2 2026: $5.4bn
Share of the book in the ten largest positions
0%48%95%Q2 2013: 92%Q3 2013: 95%Q4 2013: 95%Q1 2014: 92%14Q2 2014: 90%Q3 2014: 85%Q4 2014: 83%Q1 2015: 80%15Q2 2015: 79%Q3 2015: 73%Q4 2015: 78%Q1 2016: 80%16Q2 2016: 74%Q3 2016: 69%Q4 2016: 72%Q1 2017: 69%17Q2 2017: 72%Q3 2017: 78%Q4 2017: 75%Q1 2018: 77%18Q2 2018: 77%Q3 2018: 72%Q4 2018: 73%Q1 2019: 65%19Q2 2019: 70%Q3 2019: 71%Q4 2019: 71%Q1 2020: 71%20Q2 2020: 76%Q3 2020: 66%Q4 2020: 66%Q1 2021: 65%21Q2 2021: 68%Q3 2021: 68%Q4 2021: 66%Q1 2022: 70%22Q2 2022: 68%Q3 2022: 70%Q4 2022: 71%Q1 2023: 78%23Q2 2023: 77%Q3 2023: 75%Q4 2023: 84%Q1 2024: 86%24Q2 2024: 77%Q3 2024: 87%Q4 2024: 80%Q1 2025: 79%25Q2 2025: 79%Q3 2025: 76%Q4 2025: 72%Q1 2026: 74%26Q2 2026: 75%
  • Q2 2013: 92%
  • Q3 2013: 95%
  • Q4 2013: 95%
  • Q1 2014: 92%
  • Q2 2014: 90%
  • Q3 2014: 85%
  • Q4 2014: 83%
  • Q1 2015: 80%
  • Q2 2015: 79%
  • Q3 2015: 73%
  • Q4 2015: 78%
  • Q1 2016: 80%
  • Q2 2016: 74%
  • Q3 2016: 69%
  • Q4 2016: 72%
  • Q1 2017: 69%
  • Q2 2017: 72%
  • Q3 2017: 78%
  • Q4 2017: 75%
  • Q1 2018: 77%
  • Q2 2018: 77%
  • Q3 2018: 72%
  • Q4 2018: 73%
  • Q1 2019: 65%
  • Q2 2019: 70%
  • Q3 2019: 71%
  • Q4 2019: 71%
  • Q1 2020: 71%
  • Q2 2020: 76%
  • Q3 2020: 66%
  • Q4 2020: 66%
  • Q1 2021: 65%
  • Q2 2021: 68%
  • Q3 2021: 68%
  • Q4 2021: 66%
  • Q1 2022: 70%
  • Q2 2022: 68%
  • Q3 2022: 70%
  • Q4 2022: 71%
  • Q1 2023: 78%
  • Q2 2023: 77%
  • Q3 2023: 75%
  • Q4 2023: 84%
  • Q1 2024: 86%
  • Q2 2024: 77%
  • Q3 2024: 87%
  • Q4 2024: 80%
  • Q1 2025: 79%
  • Q2 2025: 79%
  • Q3 2025: 76%
  • Q4 2025: 72%
  • Q1 2026: 74%
  • Q2 2026: 75%

The positions that defined it

Every position that was ever among the 25 largest: when it first appeared, when it was largest, and where it stands in Q2 2026. The line is its reported value each quarter.

PositionValue over timeFirst listedLargestQ2 2026
Amazon Com Inc(AMZN)Q2 2022$892mQ2 2026$892m
Elevance Health Inc(ELV)Q1 2025$493mQ2 2026$493m
Restaurant Brands Intl Inc(QSR)Q3 2024$597mQ1 2026$490m
Alphabet Inc(GOOG)Capital Stock Class CQ1 2020$775mQ3 2021$485m
Ferguson Enterprises Inc(FERG)Common Stock NewQ4 2024$344mQ2 2026$344m
Genuine Parts Co(GPC)Q4 2024$332mQ2 2026$332m
Union Pac Corp(UNP)Q2 2023$376mQ4 2025$322m
Visa Inc(V)Common Class AQ1 2026$241mQ2 2026$241m
Wesco Intl Inc(WCC)Q1 2024$409mQ2 2025$229m
Aon PLC(AON)Shares Class AQ1 2026$248mQ1 2026$228m
Teleflex Incorporated(TFX)Q1 2026$191mQ1 2026$179m
Norwegian Cruise Line HLDGS(NCLH)Q1 2026$163mQ2 2026$163m
Twenty First Centy Fox IncClass AQ3 2015$2.5bnQ4 2018Soldlast listed Q4 2018
Micron Technology Inc(MU)Q2 2013$1.8bnQ3 2014Soldlast listed Q4 2022
eBay Inc(EBAY)Q2 2014$1.7bnQ2 2020Soldlast listed Q3 2021
Liberty Global PLCShares Class CQ3 2018$1.6bnQ3 2021Soldlast listed Q3 2023
E M C Corp MassQ4 2015$1.5bnQ2 2016Soldlast listed Q2 2016
Intel Corp(INTC)Q4 2020$1.5bnQ1 2021Soldlast listed Q2 2022
Idenix Pharmaceuticals IncQ2 2013$1.3bnQ2 2014Soldlast listed Q2 2014
Cheniere Energy Inc(LNG)Q1 2014$1.2bnQ3 2016Soldlast listed Q1 2020

Quarter by quarter

2026Q1Q2
2025Q1Q2Q3Q4
2024Q1Q2Q3Q4
2023Q1Q2Q3Q4
2022Q1Q2Q3Q4
2021Q1Q2Q3Q4
2020Q1Q2Q3Q4
2019Q1Q2Q3Q4
2018Q1Q2Q3Q4
2017Q1Q2Q3Q4
2016Q1Q2Q3Q4
2015Q1Q2Q3Q4
2014Q1Q2Q3Q4
2013Q2Q3Q4

Q2 2021: $12.3bn across 59 positions

Against Q1 2021: 8 new, 4 added to, 9 trimmed, 8 sold out, across all 59 positions.

Turnover about 7% of the book, estimated from share changes at quarter-end prices.

Largest additions

  • Facebook Inc (META)+$156m
  • Micron Technology Inc (MU)+$130m
  • Qorvo Inc (QRVO)+$89m
  • Theravance Biopharma Inc (TBPH)+-$34m

Largest reductions

  • Intel Corp (INTC)-$271m
  • Willis Towers Watson PLC LTD (WTW)-$137m
  • eBay Inc (EBAY)-$77m
  • Pershing Square Tontine HLDG-$75m
  • Ss&c Technologies HLDGS Inc (SSNC)-$27m
  • Advantage Solutions Inc (ADV)-$14m
  • Ajax I-$9.2m
  • Nexstar Media Group Inc (NXST)$9.8m

Opened

  • Shaw Communications Inc$218m
  • Digitalbridge Group Inc$181m

Sold out

  • Fox Corp (FOXA)was $275m
  • Fox Corp (FOX)was $198m
  • Healthpeak Properties Inc (DOC)was $158m
  • Colony Cap Inc Newwas $157m
  • Fidelity National Financial (FNF)was $123m
  • Reinvent Technology Partnerswas $60m
  • Thoma Bravo Advantagewas $42m
  • Vesper Healthcare Acqstn Corwas $2.7m

Largest positions, Q2 2021

The largest 25 of 59 reported positions.

PositionValueWeightOn the quarter
Liberty Global PLC$1.5bn11.8%Trimmed
Intel Corp (INTC)$1.2bn9.9%Trimmed
eBay Inc (EBAY)$1.0bn8.5%Trimmed
Qorvo Inc (QRVO)$1.0bn8.5%Added
Viasat Inc (VSAT)$812m6.6%Held
Alphabet Inc (GOOG)$729m5.9%Held
Micron Technology Inc (MU)$609m4.9%Added
Facebook Inc (META)$538m4.4%Added
Translate Bio Inc$494m4.0%Held
Willis Towers Watson PLC LTD (WTW)$435m3.5%Trimmed
International Flavors&fragra (IFF)$314m2.5%Held
Pg&e Corp (PCG)$312m2.5%Held
Nexstar Media Group Inc (NXST)$303m2.5%Trimmed
Liberty Media Corp Del$301m2.4%Held
Ss&c Technologies HLDGS Inc (SSNC)$239m1.9%Trimmed
Pershing Square Tontine HLDG$230m1.9%Trimmed
Veritiv Corp$219m1.8%Held
Shaw Communications Inc$218m1.8%New
Liberty Global PLC$208m1.7%Held
Digitalbridge Group Inc$181m1.5%New
Liberty Media Corp Del$163m1.3%Held
Theravance Biopharma Inc (TBPH)$144m1.2%Added
Verint Sys Inc$137m1.1%Held
Atara Biotherapeutics Inc$132m1.1%Held
Advantage Solutions Inc (ADV)$130m1.1%Trimmed

The books most like this one

Among the managers whose filings are on file, at Q2 2026. Overlap is the share of the two books that is the same: for every stock both list, the smaller of its two weights, added up. Two books can overlap because both own the largest companies; it says nothing about whether the managers agree.

ManagerOverlapStocks in bothOverlap over time
Pershing Square Capital Management LP24%3Compare
Egerton Capital UK LLP24%4Compare
Appaloosa LP24%2Compare
Polen Capital Management LLC17%4Compare
ValueAct Holdings LP17%2Compare
Markel Group Inc15%8Compare
TCI Fund Management Ltd11%2Compare
Maverick Capital Ltd11%3Compare

The filings behind it

Every quarter above is one 13F holdings report, with any amendment the filer made to it applied in the order it was filed. Where the reporting entity changed, each quarter keeps the filer that actually reported it.

QuarterFilerBookAmendedFiling
Q2 2026Baupost Group LLC$5.4bn13F-HR
Q1 2026Baupost Group LLC$5.1bn13F-HR
Q4 2025Baupost Group LLC$5.3bn13F-HR
Q3 2025Baupost Group LLC$4.8bn13F-HR
Q2 2025Baupost Group LLC$4.1bn13F-HR
Q1 2025Baupost Group LLC$3.5bn13F-HR
Q4 2024Baupost Group LLC$3.4bn13F-HR
Q3 2024Baupost Group LLC$3.5bn13F-HR
Q2 2024Baupost Group LLC$3.6bn13F-HR
Q1 2024Baupost Group LLC$3.7bn13F-HR
Q4 2023Baupost Group LLC$4.6bn13F-HR
Q3 2023Baupost Group LLC$5.2bn13F-HR
Q2 2023Baupost Group LLC$5.6bn13F-HR
Q1 2023Baupost Group LLC$5.8bn13F-HR
Q4 2022Baupost Group LLC$6.1bn13F-HR
Q3 2022Baupost Group LLC$5.8bn13F-HR
Q2 2022Baupost Group LLC$6.8bn13F-HR
Q1 2022Baupost Group LLC$9.3bn13F-HR
Q4 2021Baupost Group LLC$10.1bn13F-HR
Q3 2021Baupost Group LLC$10.9bn13F-HR
Q2 2021Baupost Group LLC$12.3bn13F-HR
Q1 2021Baupost Group LLC$12.6bn13F-HR
Q4 2020Baupost Group LLC$10.8bn13F-HR
Q3 2020Baupost Group LLC$9.3bn13F-HR
Q2 2020Baupost Group LLC$8.0bn13F-HR
Q1 2020Baupost Group LLC$6.8bn13F-HR
Q4 2019Baupost Group LLC$9.1bn13F-HR
Q3 2019Baupost Group LLC$8.8bn13F-HR
Q2 2019Baupost Group LLC$11.0bn13F-HR
Q1 2019Baupost Group LLC$11.9bn13F-HR
Q4 2018Baupost Group LLC$11.5bn13F-HR
Q3 2018Baupost Group LLC$13.1bn13F-HR
Q2 2018Baupost Group LLC$11.4bn13F-HR
Q1 2018Baupost Group LLC$10.4bn13F-HR
Q4 2017Baupost Group LLC$10.1bn13F-HR
Q3 2017Baupost Group LLC$8.0bn13F-HR
Q2 2017Baupost Group LLC$8.8bn13F-HR
Q1 2017Baupost Group LLC$8.5bn13F-HR
Q4 2016Baupost Group LLC$7.7bn13F-HR
Q3 2016Baupost Group LLC$7.0bn13F-HR
Q2 2016Baupost Group LLC$7.4bn13F-HR
Q1 2016Baupost Group LLC$6.9bn13F-HR
Q4 2015Baupost Group LLC$5.5bn13F-HR
Q3 2015Baupost Group LLC$6.0bn13F-HR
Q2 2015Baupost Group LLC$6.0bn13F-HR
Q1 2015Baupost Group LLC$6.0bn13F-HR
Q4 2014Baupost Group LLC$5.1bn13F-HR
Q3 2014Baupost Group LLC$5.7bn13F-HR
Q2 2014Baupost Group LLC$6.1bn13F-HR
Q1 2014Baupost Group LLC$4.1bn13F-HR
Q4 2013Baupost Group LLC$3.5bn13F-HR
Q3 2013Baupost Group LLC$3.5bn13F-HR
Q2 2013Baupost Group LLC$4.0bn13F-HR

Reading this record

A 13F lists US-listed long equity and options at the quarter end, filed up to 45 days later. It shows what was held, not when it was bought or at what price, and nothing short. Where a quarter lists only the largest positions, a name missing from it may still be held below that range; the counts of what was opened and sold always cover the whole filing.

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