BAUPOST GROUP LLC/MA 13F: Quarter-over-Quarter Portfolio Changes
BAUPOST GROUP LLC/MA reported a disclosed portfolio value of approximately $5.4 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 5.9% quarter on quarter. Over the quarter, the fund initiated 3 new positions, bought more shares in 6 holdings, trimmed 9 holdings, and exited 2 positions.
BAUPOST GROUP LLC/MA's top buy was a new stake in Cme Group INC (CME) , equal to 2.5% of the disclosed portfolio. Its top sell was Willis Towers Watson PLC LTD (WTW) . The fund exited the position completely after it had accounted for 5.1% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| CME GROUP INC | CME | 2.5% | Holders → |
| AXALTA COATING SYS LTD | AXTA | 0.8% | Holders → |
| PERSHING SQUARE INC | PS | 0.2% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| NORWEGIAN CRUISE LINE HLDGS | NCLH | +1.7% | +112.9% | Holders → |
| GENUINE PARTS CO | GPC | +3.1% | +89.0% | History → |
| GDS HLDGS LTD | GDS | +-0.3% | +23.8% | Holders → |
| AMAZON.COM INC | AMZN | +3.8% | +20.0% | History → |
| ALPHABET INC | GOOG | +2.3% | +16.2% | History → |
| FERGUSON ENTERPRISES INC | FERG | +-0.2% | +0.6% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| WESCO INTL INC | WCC | -3.5% | 53.9% | History → |
| EAGLE MATLS INC | EXP | -1.1% | 40.5% | Holders → |
| LIBERTY GLOBAL LTD | LBTYK | -1.3% | 36.2% | Holders → |
| DNOW INC | DNOW | -0.2% | 23.1% | Holders → |
| UNION PACIFIC CORP. | UNP | -1.4% | 23.1% | History → |
| RESTAURANT BRANDS INTL INC | QSR | -2.6% | 16.4% | History → |
| AMERICOLD REALTY TRUST INC | COLD | 0.2% | 12.2% | Holders → |
| TELEFLEX INCORPORATED | TFX | -0.4% | 11.7% | Holders → |
| AON PLC REGISTERED SHS CL A | AON | -0.6% | 10.7% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| WILLIS TOWERS WATSON PLC LTD | WTW | 5.1% |
| VAXCYTE INC | PCVX | 0.9% |
Net Portfolio Value ChangeQ2 2026
- $5.1BPrior quarter
- $5.4BCurrent quarter
- +$0.3BNet delta
- +5.9%% 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 Q2 2026?
In Q2 2026, BAUPOST GROUP LLC/MA initiated 3 new positions (CME GROUP INC (CME), AXALTA COATING SYS LTD (AXTA), PERSHING SQUARE INC (PS)); bought more shares of NORWEGIAN CRUISE LINE HLDGS (NCLH), GENUINE PARTS CO (GPC), GDS HLDGS LTD (GDS), AMAZON.COM INC (AMZN), ALPHABET INC (GOOG) (the largest 5 of 6 adds).
What stocks did BAUPOST GROUP LLC/MA sell in Q2 2026?
In Q2 2026, BAUPOST GROUP LLC/MA fully sold 2 positions (WILLIS TOWERS WATSON PLC LTD (WTW), VAXCYTE INC (PCVX)); reduced holdings in WESCO INTL INC (WCC), EAGLE MATLS INC (EXP), LIBERTY GLOBAL LTD (LBTYK), DNOW INC (DNOW), UNION PACIFIC CORP. (UNP) (the largest 5 of 9 reductions).
Which positions did BAUPOST GROUP LLC/MA initiate in Q2 2026?
BAUPOST GROUP LLC/MA established 3 new positions in Q2 2026: CME GROUP INC (CME, 2.5%), AXALTA COATING SYS LTD (AXTA, 0.8%), PERSHING SQUARE INC (PS, 0.2%).
Which existing positions saw the largest allocation increases for BAUPOST GROUP LLC/MA in Q2 2026?
Of 6 existing positions with share-count increases in Q2 2026, the largest were: NORWEGIAN CRUISE LINE HLDGS (NCLH, +1.7% weight, +112.9% shares), GENUINE PARTS CO (GPC, +3.1% weight, +89.0% shares), GDS HLDGS LTD (GDS, +-0.3% weight, +23.8% shares), AMAZON.COM INC (AMZN, +3.8% weight, +20.0% shares), ALPHABET INC (GOOG, +2.3% weight, +16.2% shares), FERGUSON ENTERPRISES INC (FERG, +-0.2% weight, +0.6% shares).
Which positions did BAUPOST GROUP LLC/MA fully exit in Q2 2026?
BAUPOST GROUP LLC/MA fully exited 2 positions in Q2 2026: WILLIS TOWERS WATSON PLC LTD (WTW, last-reported weight 5.1%), VAXCYTE INC (PCVX, last-reported weight 0.9%).
Which existing positions saw the largest allocation reductions for BAUPOST GROUP LLC/MA in Q2 2026?
Of 9 existing positions with share-count reductions in Q2 2026, the largest were: WESCO INTL INC (WCC, -3.5% weight, -53.9% shares), EAGLE MATLS INC (EXP, -1.1% weight, -40.5% shares), LIBERTY GLOBAL LTD (LBTYK, -1.3% weight, -36.2% shares), DNOW INC (DNOW, -0.2% weight, -23.1% shares), UNION PACIFIC CORP. (UNP, -1.4% weight, -23.1% shares), RESTAURANT BRANDS INTL INC (QSR, -2.6% weight, -16.4% shares), AMERICOLD REALTY TRUST INC (COLD, 0.2% weight, -12.2% shares), TELEFLEX INCORPORATED (TFX, -0.4% weight, -11.7% shares), AON PLC REGISTERED SHS CL A (AON, -0.6% weight, -10.7% 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.