BAUPOST GROUP LLC/MA 13F: Quarter-over-Quarter Portfolio Changes
BAUPOST GROUP LLC/MA reported a disclosed portfolio value of approximately $5.1 billion in its latest SEC Form 13F-HR filing for Q1 2026, down 3.1% quarter on quarter. Over the quarter, the fund initiated 6 new positions, bought more shares in 9 holdings, trimmed 4 holdings, and exited 6 positions.
BAUPOST GROUP LLC/MA's top buy was a new stake in Aon PLC (AON) , equal to 4.9% of the disclosed portfolio. Its top sell was Fidelity Natl Information Sv (FIS) . The fund exited the position completely after it had accounted for 5.7% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| AON PLC | AON | 4.9% | History → |
| VISA | V | 4.1% | History → |
| TELEFLEX INCORPORATED | TFX | 3.7% | Holders → |
| NORWEGIAN CRUISE LINE HLDGS | NCLH | 1.3% | Holders → |
| VAXCYTE INC | PCVX | 0.9% | Holders → |
| DNOW INC (DNOW) | DNOW | 0.8% | Holders → |
Top BuysQ1 2026
The fund's top buys among existing positions in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| AMERICOLD REALTY TRUST INC | COLD | +0.9% | +123.9% | Holders → |
| AMAZON.COM | AMZN | +3.4% | +47.0% | History → |
| FERGUSON ENTERPRISES INC | FERG | +1.8% | +26.9% | History → |
| ALPHABET CL C | GOOG | +0.2% | +8.6% | History → |
| MOLINA HEALTHCARE INC | MOH | +-0.4% | +1.4% | Holders → |
| WESCO INTL INC | WCC | +1.1% | +1.3% | History → |
| GRUPO AEROMEXICO SAB DE CV | AERO | +-0.7% | +0.5% | Holders → |
| ELEVANCE HEALTH INC | ELV | +-1.1% | +0.5% | History → |
| GENUINE PARTS CO | GPC | +-0.4% | +0.3% | Holders → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| LIBERTY GLOBAL LTD | LBTYK | -1.3% | 35.9% | Holders → |
| WILLIS TOWERS WATSON PLC LTD | WTW | -3.4% | 34.2% | History → |
| EAGLE MATERIALS INC | EXP | -1.3% | 24.7% | Holders → |
| UNION PACIFIC | UNP | 0.2% | 5.3% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| FIDELITY NATL INFORMATION SV | FIS | 5.7% |
| DOLLAR GEN CORP | DG | 5.2% |
| FISERV, INC. | FISV | 2.8% |
| CRH PLC | CRH | 2.5% |
| LIBERTY GLOBAL LTD | LBTYA | 0.4% |
| TAMBORAN RES CORP | TBN | 0.1% |
Net Portfolio Value ChangeQ1 2026
- $5.3BPrior quarter
- $5.1BCurrent quarter
- $-0.2BNet delta
- -3.1%% change
Methodology & FAQ
How BAUPOST GROUP LLC/MA Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for BAUPOST GROUP LLC/MA: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did BAUPOST GROUP LLC/MA buy in Q1 2026?
In Q1 2026, BAUPOST GROUP LLC/MA initiated 6 new positions (AON PLC (AON), VISA (V), TELEFLEX INCORPORATED (TFX), NORWEGIAN CRUISE LINE HLDGS (NCLH), VAXCYTE INC (PCVX), DNOW INC (DNOW) (DNOW)); bought more shares of AMERICOLD REALTY TRUST INC (COLD), AMAZON.COM (AMZN), FERGUSON ENTERPRISES INC (FERG), ALPHABET CL C (GOOG), MOLINA HEALTHCARE INC (MOH) — the largest 5 of 9 adds.
What stocks did BAUPOST GROUP LLC/MA sell in Q1 2026?
In Q1 2026, BAUPOST GROUP LLC/MA fully sold 6 positions (FIDELITY NATL INFORMATION SV (FIS), DOLLAR GEN CORP (DG), FISERV, INC. (FISV), CRH PLC (CRH), LIBERTY GLOBAL LTD (LBTYA), TAMBORAN RES CORP (TBN)); reduced holdings in LIBERTY GLOBAL LTD (LBTYK), WILLIS TOWERS WATSON PLC LTD (WTW), EAGLE MATERIALS INC (EXP), UNION PACIFIC (UNP).
Which positions did BAUPOST GROUP LLC/MA initiate in Q1 2026?
BAUPOST GROUP LLC/MA established 6 new positions in Q1 2026: AON PLC (AON, 4.9%), VISA (V, 4.1%), TELEFLEX INCORPORATED (TFX, 3.7%), NORWEGIAN CRUISE LINE HLDGS (NCLH, 1.3%), VAXCYTE INC (PCVX, 0.9%), DNOW INC (DNOW) (DNOW, 0.8%).
Which existing positions saw the largest allocation increases for BAUPOST GROUP LLC/MA in Q1 2026?
Of 9 existing positions with share-count increases in Q1 2026, the largest were: AMERICOLD REALTY TRUST INC (COLD, +0.9% weight, +123.9% shares), AMAZON.COM (AMZN, +3.4% weight, +47.0% shares), FERGUSON ENTERPRISES INC (FERG, +1.8% weight, +26.9% shares), ALPHABET CL C (GOOG, +0.2% weight, +8.6% shares), MOLINA HEALTHCARE INC (MOH, +-0.4% weight, +1.4% shares), WESCO INTL INC (WCC, +1.1% weight, +1.3% shares), GRUPO AEROMEXICO SAB DE CV (AERO, +-0.7% weight, +0.5% shares), ELEVANCE HEALTH INC (ELV, +-1.1% weight, +0.5% shares), GENUINE PARTS CO (GPC, +-0.4% weight, +0.3% shares).
Which positions did BAUPOST GROUP LLC/MA fully exit in Q1 2026?
BAUPOST GROUP LLC/MA fully exited 6 positions in Q1 2026: FIDELITY NATL INFORMATION SV (FIS, last-reported weight 5.7%), DOLLAR GEN CORP (DG, last-reported weight 5.2%), FISERV, INC. (FISV, last-reported weight 2.8%), CRH PLC (CRH, last-reported weight 2.5%), LIBERTY GLOBAL LTD (LBTYA, last-reported weight 0.4%), TAMBORAN RES CORP (TBN, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for BAUPOST GROUP LLC/MA in Q1 2026?
Of 4 existing positions with share-count reductions in Q1 2026, the largest were: LIBERTY GLOBAL LTD (LBTYK, -1.3% weight, -35.9% shares), WILLIS TOWERS WATSON PLC LTD (WTW, -3.4% weight, -34.2% shares), EAGLE MATERIALS INC (EXP, -1.3% weight, -24.7% shares), UNION PACIFIC (UNP, 0.2% weight, -5.3% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.