Seth Klarman

Baupost Group

Margin of safety

Deep value, patient capital.

$5.4B

reported portfolio

positions

Jun 30, 2026

quarter ended

moves last filing

Latest moves

Share-count changes versus the prior quarter's filing.

23 listed positions

Ticker	Company	Est. position	Weight	Since disclosed
AMZN AMAZON COM INC	AMAZON COM INC	$892.3M	16.5%	+6.4%
ELV ELEVANCE HEALTH INC FORMERLY	ELEVANCE HEALTH INC FORMERLY	$493.1M	9.1%	+6.3%
QSR RESTAURANT BRANDS INTL INC	RESTAURANT BRANDS INTL INC	$489.6M	9.0%	+0.5%
GOOG ALPHABET INC	ALPHABET INC	$484.7M	9.0%	−2.5%
FERG FERGUSON ENTERPRISES INC	FERGUSON ENTERPRISES INC	$344.3M	6.4%	−9.6%
GPC GENUINE PARTS CO	GENUINE PARTS CO	$332.3M	6.1%	+8.6%
UNP UNION PAC CORP	UNION PAC CORP	$322.4M	6.0%	+2.7%
V VISA INC	VISA INC	$240.6M	4.4%	+7.3%
WCC WESCO INTL INC	WESCO INTL INC	$229.0M	4.2%	−0.4%
AON AON PLC	AON PLC	$227.9M	4.2%	−10.9%

Values as reported on the fund’s SEC Form 13F. "Since disclosed" is the price change from the quarter end to today.

Source: SEC Form 13F-HR · filings on EDGAR ↗

last 60 days