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High-profile investor tracker

Seth Klarman Portfolio

Baupost Group Holdings

A filing-based view of Baupost Group’s publicly disclosed U.S.-listed equity holdings — with portfolio concentration, quarter-over-quarter changes and verified quarterly SEC history.

This tracker follows Baupost Group LLC/MA’s Form 13F disclosures—not Seth Klarman’s personal brokerage account. Form 13F reports quarter-end U.S.-listed positions and certain options, but it does not reveal exact trade dates, execution prices, short positions or the purpose of an option position.

Confirmed SEC snapshot

$5.4M

Reported 13F value · Q2 2026

2313F entries
2026-08-13filing date
13F-HRsource filing
100verified quarters

Portfolio

AMAZON COM INCAMZN
$892.3K
16.5%
+111,322.2%Est. vs filing basis
Position increased 20.0%
Reported shares3,743,854
Current price$251.89
SEC reference price$0.24
Estimated filing-based basis$0.23
Position historySEC quarter-end observations
Q2 2026
Increased 20.0%+625,100 reported shares
SEC ref. $0.24Est. basis $0.23
Q1 2026
Increased 47.0%+997,363 reported shares
SEC ref. $0.21Est. basis $0.22
Q4 2025
New position2,121,391 reported shares
SEC ref. $0.23Est. basis $0.23
Q3 2023
Position exitedLast reported in prior verified quarter
Q2 2023
New position963,946 reported shares
SEC ref. $0.13Est. basis $0.13
Q1 2023
Position exitedLast reported in prior verified quarter
Q4 2022
Increased 299.2%+742,000 reported shares
SEC ref. $0.08Est. basis $26.67
Q3 2022
Reduced 58.5%-350,000 reported shares
SEC ref. $113.00Est. basis $106.21
Q2 2022
New position598,000 reported shares
SEC ref. $106.21Est. basis $106.21
ELEVANCE HEALTH INC FORMERLYANTM
$493.1K
9.1%
—Est. vs filing basis
Unchanged
Reported shares1,275,154
SEC reference price$0.39
Estimated filing-based basis$0.36
Position historySEC quarter-end observations
Q2 2026
Unchanged
SEC ref. $0.39Est. basis $0.36
Q1 2026
Increased 0.5%+5,852 reported shares
SEC ref. $0.29Est. basis $0.36
Q4 2025
Reduced 3.8%-49,698 reported shares
SEC ref. $0.35Est. basis $0.36
Q3 2025
Increased 114.1%+703,000 reported shares
SEC ref. $0.32Est. basis $0.36
Q2 2025
Increased 150.4%+370,000 reported shares
SEC ref. $0.39Est. basis $0.41
Q1 2025
New position246,000 reported shares
SEC ref. $0.43Est. basis $0.43
RESTAURANT BRANDS INTL INC QSR
$489.6K
9.0%
+117,812.3%Est. vs filing basis
Position reduced 16.4%
Reported shares6,753,112
Current price$76.49
SEC reference price$0.07
Estimated filing-based basis$0.06
Position historySEC quarter-end observations
Q2 2026
Reduced 16.4%-1,327,000 reported shares
SEC ref. $0.07Est. basis $0.06
Q1 2026
Unchanged
SEC ref. $0.07Est. basis $0.06
Q4 2025
Reduced 2.1%-172,750 reported shares
SEC ref. $0.07Est. basis $0.06
Q3 2025
Increased 103.8%+4,203,300 reported shares
SEC ref. $0.06Est. basis $0.06
Q2 2025
Increased 4.2%+163,000 reported shares
SEC ref. $0.07Est. basis $0.07
Q1 2025
Increased 33.9%+984,862 reported shares
SEC ref. $0.07Est. basis $0.07
Q4 2024
Increased 10,155.5%+2,873,406 reported shares
SEC ref. $0.07Est. basis $0.07
Q3 2024
New position28,294 reported shares
SEC ref. $0.07Est. basis $0.07
ALPHABET INCGOOG
$484.7K
9.0%
+1,316.2%Est. vs filing basis
Position increased 16.2%
Reported shares1,371,931
Current price$330.39
SEC reference price$0.35
Estimated filing-based basis$23.33
Position historySEC quarter-end observations
Q2 2026
Increased 16.2%+190,800 reported shares
SEC ref. $0.35Est. basis $23.33
Q1 2026
Increased 8.6%+93,950 reported shares
SEC ref. $0.29Est. basis $27.04
Q4 2025
Reduced 41.5%-770,957 reported shares
SEC ref. $0.31Est. basis $29.35
Q3 2025
Reduced 29.5%-775,850 reported shares
SEC ref. $0.24Est. basis $29.35
Q2 2025
Increased 26.8%+556,000 reported shares
SEC ref. $0.18Est. basis $29.35
Q1 2025
Increased 45.7%+652,000 reported shares
SEC ref. $0.16Est. basis $37.16
Q4 2024
Reduced 2.7%-39,600 reported shares
SEC ref. $0.19Est. basis $54.08
Q3 2024
Increased 37.0%+396,000 reported shares
SEC ref. $0.17Est. basis $54.08
Q2 2024
Reduced 63.8%-1,888,064 reported shares
SEC ref. $0.18Est. basis $74.04
Q1 2024
Increased 0.3%+8,114 reported shares
SEC ref. $0.15Est. basis $74.04
Q4 2023
Reduced 23.0%-882,000 reported shares
SEC ref. $0.14Est. basis $74.24
Q3 2023
Reduced 7.0%-288,242 reported shares
SEC ref. $0.13Est. basis $74.24
Q2 2023
Reduced 29.6%-1,732,000 reported shares
SEC ref. $0.12Est. basis $74.24
Q1 2023
Increased 46.5%+1,857,500 reported shares
SEC ref. $0.10Est. basis $74.24
Q4 2022
Increased 190.2%+2,618,000 reported shares
SEC ref. $0.09Est. basis $108.72
Q3 2022
Increased 715.3%+1,207,466 reported shares
SEC ref. $96.15Est. basis $315.36
Q2 2022
Reduced 30.8%-75,076 reported shares
SEC ref. $2,187.45Est. basis $1,883.28
Q1 2022
Increased 6.9%+15,660 reported shares
SEC ref. $2,792.99Est. basis $1,883.28
Q4 2021
Reduced 21.6%-62,700 reported shares
SEC ref. $2,893.59Est. basis $1,820.86
Q3 2021
Unchanged
SEC ref. $2,665.31Est. basis $1,820.86
FERGUSON ENTERPRISES INCFERG
$344.3K
6.4%
+117,871.1%Est. vs filing basis
Position increased 0.6%
Reported shares1,450,594
Current price$220.97
SEC reference price$0.24
Estimated filing-based basis$0.19
Position historySEC quarter-end observations
Q2 2026
Increased 0.6%+8,183 reported shares
SEC ref. $0.24Est. basis $0.19
Q1 2026
Increased 26.9%+305,376 reported shares
SEC ref. $0.23Est. basis $0.19
Q4 2025
Reduced 1.6%-18,465 reported shares
SEC ref. $0.22Est. basis $0.17
Q3 2025
Increased 2.1%+23,500 reported shares
SEC ref. $0.22Est. basis $0.17
Q2 2025
Unchanged
SEC ref. $0.22Est. basis $0.17
Q1 2025
Unchanged
SEC ref. $0.16Est. basis $0.17
Q4 2024
New position1,132,000 reported shares
SEC ref. $0.17Est. basis $0.17
GENUINE PARTS COGPC
$332.3K
6.1%
+104,437.4%Est. vs filing basis
Position increased 89.0%
Reported shares2,816,178
Current price$134.16
SEC reference price$0.12
Estimated filing-based basis$0.13
Position historySEC quarter-end observations
Q2 2026
Increased 89.0%+1,325,830 reported shares
SEC ref. $0.12Est. basis $0.13
Q1 2026
Increased 0.3%+4,260 reported shares
SEC ref. $0.11Est. basis $0.14
Q4 2025
Increased 6.5%+91,088 reported shares
SEC ref. $0.12Est. basis $0.14
Q3 2025
New position1,395,000 reported shares
SEC ref. $0.14Est. basis $0.14
Q1 2025
Position exitedLast reported in prior verified quarter
Q4 2024
New position315,337 reported shares
SEC ref. $0.12Est. basis $0.12
UNION PAC CORPUNP
$322.4K
6.0%
+121,012.0%Est. vs filing basis
Position reduced 23.1%
Reported shares1,185,395
Current price$285.78
SEC reference price$0.27
Estimated filing-based basis$0.24
Position historySEC quarter-end observations
Q2 2026
Reduced 23.1%-355,600 reported shares
SEC ref. $0.27Est. basis $0.24
Q1 2026
Reduced 5.3%-86,259 reported shares
SEC ref. $0.24Est. basis $0.24
Q4 2025
Increased 8.8%+131,050 reported shares
SEC ref. $0.23Est. basis $0.24
Q3 2025
New position1,496,204 reported shares
SEC ref. $0.24Est. basis $0.24
Q3 2023
Position exitedLast reported in prior verified quarter
Q2 2023
New position175,000 reported shares
SEC ref. $0.20Est. basis $0.20
VISA INCV
$240.6K
4.4%
+121,395.9%Est. vs filing basis
Unchanged
Reported shares701,355
Current price$367.21
SEC reference price$0.34
Estimated filing-based basis$0.30
Position historySEC quarter-end observations
Q2 2026
Unchanged
SEC ref. $0.34Est. basis $0.30
Q1 2026
New position701,355 reported shares
SEC ref. $0.30Est. basis $0.30
WESCO INTL INCWCC
$229.0K
4.2%
+206,583.1%Est. vs filing basis
Position reduced 53.9%
Reported shares662,881
Current price$344.00
SEC reference price$0.35
Estimated filing-based basis$0.17
Position historySEC quarter-end observations
Q2 2026
Reduced 53.9%-774,000 reported shares
SEC ref. $0.35Est. basis $0.17
Q1 2026
Increased 1.3%+18,050 reported shares
SEC ref. $0.27Est. basis $0.17
Q4 2025
Reduced 5.6%-84,349 reported shares
SEC ref. $0.24Est. basis $0.17
Q3 2025
Reduced 31.9%-704,421 reported shares
SEC ref. $0.21Est. basis $0.17
Q2 2025
Increased 10.1%+202,000 reported shares
SEC ref. $0.19Est. basis $0.17
Q1 2025
Increased 39.7%+569,930 reported shares
SEC ref. $0.16Est. basis $0.16
Q4 2024
Increased 14.1%+177,671 reported shares
SEC ref. $0.18Est. basis $0.17
Q3 2024
Increased 56.7%+455,000 reported shares
SEC ref. $0.17Est. basis $0.16
Q2 2024
Increased 290.3%+597,276 reported shares
SEC ref. $0.16Est. basis $0.16
Q1 2024
New position205,724 reported shares
SEC ref. $0.17Est. basis $0.17
AON PLCAON
$227.9K
4.2%
+95,249.7%Est. vs filing basis
Position reduced 10.7%
Reported shares687,000
Current price$307.77
SEC reference price$0.33
Estimated filing-based basis$0.32
Position historySEC quarter-end observations
Q2 2026
Reduced 10.7%-82,000 reported shares
SEC ref. $0.33Est. basis $0.32
Q1 2026
New position769,000 reported shares
SEC ref. $0.32Est. basis $0.32
TELEFLEX INCORPORATEDTFX
$178.6K
3.3%
+110,258.6%Est. vs filing basis
Position reduced 11.7%
Reported shares1,409,000
Current price$132.00
SEC reference price$0.13
Estimated filing-based basis$0.12
Position historySEC quarter-end observations
Q2 2026
Reduced 11.7%-186,000 reported shares
SEC ref. $0.13Est. basis $0.12
Q1 2026
New position1,595,000 reported shares
SEC ref. $0.12Est. basis $0.12
NORWEGIAN CRUISE LINE HLDGSNCLH
$163.2K
3.0%
+72,829.3%Est. vs filing basis
Position increased 112.9%
Reported shares7,730,000
Current price$14.57
SEC reference price$0.02
Estimated filing-based basis$0.02
Position historySEC quarter-end observations
Q2 2026
Increased 112.9%+4,100,000 reported shares
SEC ref. $0.02Est. basis $0.02
Q1 2026
New position3,630,000 reported shares
SEC ref. $0.02Est. basis $0.02
MOLINA HEALTHCARE INCMOH
$144.9K
2.7%
+115,672.8%Est. vs filing basis
Unchanged
Reported shares633,609
Current price$200.28
SEC reference price$0.23
Estimated filing-based basis$0.17
Position historySEC quarter-end observations
Q2 2026
Unchanged
SEC ref. $0.23Est. basis $0.17
Q1 2026
Increased 1.4%+8,609 reported shares
SEC ref. $0.13Est. basis $0.17
Q4 2025
New position625,000 reported shares
SEC ref. $0.17Est. basis $0.17
CME GROUP INCCME
$136.7K
2.5%
+124,008.8%Est. vs filing basis
New reported position
Reported shares619,000
Current price$274.07
SEC reference price$0.22
Estimated filing-based basis$0.22
Position historySEC quarter-end observations
Q2 2026
New position619,000 reported shares
SEC ref. $0.22Est. basis $0.22
HERBALIFE LTD
$121.8K
2.2%
—Est. vs filing basis
Unchanged
Reported shares9,259,844
SEC reference price$0.01
Estimated filing-based basis$0.01
Position historySEC quarter-end observations
Q2 2026
Unchanged
SEC ref. $0.01Est. basis $0.01
Q1 2026
Unchanged
SEC ref. $0.01Est. basis $0.01
Q4 2025
Increased 19.3%+1,500,000 reported shares
SEC ref. $0.01Est. basis $0.01
Q3 2025
Unchanged
SEC ref. $0.01Est. basis $0.01
Q2 2025
Increased 2.1%+159,318 reported shares
SEC ref. $0.01Est. basis $0.01
Q1 2025
Unchanged
SEC ref. $0.01Est. basis $0.01
Q4 2024
Increased 48.3%+2,476,000 reported shares
SEC ref. $0.01Est. basis $0.01
Q3 2024
Unchanged
SEC ref. $0.01Est. basis $0.01
Q2 2024
Increased 128.3%+2,879,603 reported shares
SEC ref. $0.01Est. basis $0.01
Q1 2024
Increased 33.6%+565,124 reported shares
SEC ref. $0.01Est. basis $0.01
Q4 2023
Reduced 0.8%-13,546 reported shares
SEC ref. $0.02Est. basis $0.01
Q3 2023
Reduced 13.3%-260,855 reported shares
SEC ref. $0.01Est. basis $0.01
Q2 2023
Unchanged
SEC ref. $0.01Est. basis $0.01
Q1 2023
Reduced 2.3%-45,800 reported shares
SEC ref. $0.02Est. basis $0.01
Q4 2022
New position2,000,000 reported shares
SEC ref. $0.01Est. basis $0.01
EAGLE MATLS INCEXP
$119.4K
2.2%
+77,156.2%Est. vs filing basis
Position reduced 40.5%
Reported shares530,763
Current price$183.77
SEC reference price$0.23
Estimated filing-based basis$0.24
Position historySEC quarter-end observations
Q2 2026
Reduced 40.5%-362,000 reported shares
SEC ref. $0.23Est. basis $0.24
Q1 2026
Reduced 24.7%-292,485 reported shares
SEC ref. $0.19Est. basis $0.24
Q4 2025
Increased 26.1%+245,588 reported shares
SEC ref. $0.21Est. basis $0.24
Q3 2025
Increased 39.0%+263,403 reported shares
SEC ref. $0.23Est. basis $0.25
Q2 2025
Reduced 25.7%-233,376 reported shares
SEC ref. $0.20Est. basis $0.25
Q1 2025
Increased 42.5%+271,410 reported shares
SEC ref. $0.22Est. basis $0.25
Q4 2024
Increased 27.6%+137,950 reported shares
SEC ref. $0.25Est. basis $0.26
Q3 2024
Increased 46.2%+158,171 reported shares
SEC ref. $0.29Est. basis $0.27
Q2 2024
Increased 30.6%+80,102 reported shares
SEC ref. $0.22Est. basis $0.26
Q1 2024
New position262,000 reported shares
SEC ref. $0.27Est. basis $0.27
GDS HLDGS LTDGDS
$113.2K
2.1%
+259,291.1%Est. vs filing basis
Position increased 23.8%
Reported shares3,769,818
Current price$31.06
SEC reference price$0.03
Estimated filing-based basis$0.01
Position historySEC quarter-end observations
Q2 2026
Increased 23.8%+725,000 reported shares
SEC ref. $0.03Est. basis $0.01
Q1 2026
Unchanged
SEC ref. $0.04Est. basis $0.01
Q4 2025
Reduced 6.3%-205,134 reported shares
SEC ref. $0.03Est. basis $0.01
Q3 2025
Unchanged
SEC ref. $0.04Est. basis $0.01
Q2 2025
Reduced 23.5%-1,000,000 reported shares
SEC ref. $0.03Est. basis $0.01
Q1 2025
Unchanged
SEC ref. $0.03Est. basis $0.01
Q4 2024
Unchanged
SEC ref. $0.02Est. basis $0.01
Q3 2024
Unchanged
SEC ref. $0.02Est. basis $0.01
Q2 2024
Increased 63.5%+1,649,952 reported shares
SEC ref. $0.01Est. basis $0.01
Q1 2024
New position2,600,000 reported shares
SEC ref. $0.01Est. basis $0.01
AMERICOLD REALTY TRUST INCCOLD
$107.4K
2.0%
+119,475.6%Est. vs filing basis
Position reduced 12.2%
Reported shares6,830,230
Current price$14.12
SEC reference price$0.02
Estimated filing-based basis$0.01
Position historySEC quarter-end observations
Q2 2026
Reduced 12.2%-950,570 reported shares
SEC ref. $0.02Est. basis $0.01
Q1 2026
Increased 123.9%+4,305,115 reported shares
SEC ref. $0.01Est. basis $0.01
Q4 2025
Reduced 3.5%-124,315 reported shares
SEC ref. $0.01Est. basis $0.01
Q3 2025
New position3,600,000 reported shares
SEC ref. $0.01Est. basis $0.01
LIBERTY GLOBAL LTD
$94.0K
1.7%
—Est. vs filing basis
Position reduced 36.2%
Reported shares8,543,161
SEC reference price$0.01
Estimated filing-based basis$0.02
Position historySEC quarter-end observations
Q2 2026
Reduced 36.2%-4,854,086 reported shares
SEC ref. $0.01Est. basis $0.02
Q1 2026
Reduced 35.9%-7,487,534 reported shares
SEC ref. $0.01Est. basis $0.02
Q4 2025
Reduced 3.6%-773,022 reported shares
SEC ref. $0.01Est. basis $0.02
Q3 2025
Reduced 12.2%-3,000,000 reported shares
SEC ref. $0.01Est. basis $0.02
Q2 2025
Unchanged
SEC ref. $0.01Est. basis $0.02
Q1 2025
Reduced 37.5%-14,796,040 reported shares
SEC ref. $0.01Est. basis $0.02
Q4 2024
Reduced 6.8%-2,857,168 reported shares
SEC ref. $0.01Est. basis $0.02
Q3 2024
Unchanged
SEC ref. $0.02Est. basis $0.02
Q2 2024
Unchanged
SEC ref. $0.02Est. basis $0.02
Q1 2024
Unchanged
SEC ref. $0.02Est. basis $0.02
Q4 2023
New position42,311,011 reported shares
SEC ref. $0.02Est. basis $0.02
GRUPO AEROMEXICO SAB DE CV
$87.8K
1.6%
—Est. vs filing basis
Unchanged
Reported shares4,880,188
SEC reference price$0.02
Estimated filing-based basis$0.02
Position historySEC quarter-end observations
Q2 2026
Unchanged
SEC ref. $0.02Est. basis $0.02
Q1 2026
Increased 0.5%+25,008 reported shares
SEC ref. $0.01Est. basis $0.02
Q4 2025
New position4,855,180 reported shares
SEC ref. $0.02Est. basis $0.02
AXALTA COATING SYS LTDAXTA
$43.6K
0.8%
+99,316.6%Est. vs filing basis
New reported position
Reported shares1,274,356
Current price$34.02
SEC reference price$0.03
Estimated filing-based basis$0.03
Position historySEC quarter-end observations
Q2 2026
New position1,274,356 reported shares
SEC ref. $0.03Est. basis $0.03
DNOW INCDNOW
$36.2K
0.7%
+129,790.1%Est. vs filing basis
Position reduced 23.1%
Reported shares2,788,000
Current price$15.47
SEC reference price$0.01
Estimated filing-based basis$0.01
Position historySEC quarter-end observations
Q2 2026
Reduced 23.1%-837,000 reported shares
SEC ref. $0.01Est. basis $0.01
Q1 2026
New position3,625,000 reported shares
SEC ref. $0.01Est. basis $0.01
PERSHING SQUARE INC
$12.9K
0.2%
—Est. vs filing basis
New reported position
Reported shares392,000
SEC reference price$0.03
Estimated filing-based basis$0.03
Position historySEC quarter-end observations
Q2 2026
New position392,000 reported shares
SEC ref. $0.03Est. basis $0.03

Performance

Estimated 1Y performanceFiling-based estimate

+22.27%

Coverage 96% High coverage

Quarterly performanceBackend-published quarter legs within the 1Y estimate
2025-09-30+11.43%
2025-12-31+4.74%
2026-03-31-5.93%
2026-06-30+11.36%

Displayed legs are backend-ready filing-based estimates. They explain the path of the published 1Y result and are not summed or compounded in the browser.

MethodologyMIL_SEC_PERFORMANCE_V2_EXIT_AWARE_M2M
What this measures

Estimated return from standardized SEC-reported portfolio observations using the approved filing-based methodology. It is not an actual transaction-level or realized investor return.

Portfolio history

Q2 2026
$5.4M
23 positions
Q1 2026
$5.1M
22 positions
Q4 2025
$5.3M
22 positions
Q3 2025
$4.8M
22 positions
Q2 2025
$4.1M
23 positions

Methodology

1. Start with SEC filings

Official Form 13F filings and the canonical MarketInsiderLab filing record are authoritative. Unsupported or unverified data is withheld.

2. Use the verified filing denominator

Portfolio weights use the verified full filing total. Security identity and corporate-action continuity are reconciled before publication.

3. Compare verified quarter-end snapshots

Changes describe differences between verified SEC-reported quarter-end positions. They are not presented as exact buys, sells, trade dates, or execution prices.

4. Keep estimates clearly separated

Estimated filing-based basis and filing-based performance are backend-calculated research estimates, not actual execution prices or audited fund returns.

1-year performance is published only when four consecutive quarterly estimates pass QA and the weakest quarterly leg has at least 70% measurable coverage. Coverage of 90% or more is labeled High coverage; 70–89.9% is labeled Partial estimate. Lower-coverage estimates are withheld.

Seth Klarman Portfolio FAQ

How to interpret Baupost Group’s delayed SEC disclosures.

What does this page track?
It tracks Baupost Group’s publicly disclosed U.S.-listed Form 13F positions, not Seth Klarman’s personal investments or Baupost Group’s complete global portfolio.
Why are ordinary shares and options shown separately?
A 13F can report ordinary shares and put or call entries for the same underlying company. Options are excluded from ordinary-share rankings, weights and holdings charts, then shown in their own clearly labelled section.
Why is the latest confirmed snapshot Q2 2026?
The tracker displays the newest Form 13F currently present in Baupost Group’s SEC submissions. The page year identifies the current tracker, while the confirmed snapshot states the actual report period and filing date.
Does Form 13F show exact trade dates?
No. It shows reportable positions at quarter-end and is filed later. Changes are inferred by comparing consecutive reports.
MarketInsiderLab tracks what public filings actually show.

Research and context — not a recommendation to copy any investor’s trades.

Explore investor portfolios →

Seth Klarman Portfolio FAQ

How to interpret Baupost Group’s delayed SEC disclosures.

What does this page track?
It tracks Baupost Group’s publicly disclosed U.S.-listed Form 13F positions, not Seth Klarman’s personal investments or Baupost Group’s complete global portfolio.
Why are ordinary shares and options shown separately?
A 13F can report ordinary shares and put or call entries for the same underlying company. Options are excluded from ordinary-share rankings, weights and holdings charts, then shown in their own clearly labelled section.
Why is the latest confirmed snapshot Q2 2026?
The tracker displays the newest Form 13F currently present in Baupost Group’s SEC submissions. The page year identifies the current tracker, while the confirmed snapshot states the actual report period and filing date.
Does Form 13F show exact trade dates?
No. It shows reportable positions at quarter-end and is filed later. Changes are inferred by comparing consecutive reports.
MarketInsiderLab tracks what public filings actually show.Research and context — not a recommendation to copy any investor’s trades.
Explore investor portfolios →