BAUPOST GROUP LLC/MA

CIK 0001061768 · Q2 2026

13F Equity AUM

$5.4M

+5.9% QoQ

Positions

+1 QoQ

AUM Rank

#11,883

Top 95%

Skill Alpha (FF)

-6.5%/yr

Underperformer

Rank #7,834 · Top 94%

vs S&P -10.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 49.9%Top 10: 74.9%Top 20: 98.3%

AMZN16.5%

ELV9.1%

QSR9.0%

GOOG8.9%

FERG6.4%

GPC6.1%

UNP6.0%

V4.4%

WCC4.2%

AON4.2%

Others (13)25.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Consumer Cyclical34.7%

Industrials18.2%

Healthcare15.1%

Financial Services11.2%

Communication Services10.7%

Basic Materials3.0%

Consumer Defensive2.3%

Technology2.1%

Other2.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 23Median: 3.01%Avg: 4.35%

0–0.5%

1(0.2%)

0.5–1%

2(1.5%)

1–3%

8(17.1%)

3–5%

5(19.2%)

5%+

7(62.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 23vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New3Increased6Decreased9Exited2

New Positions

CME2.5%

+619K

AXTA0.8%

+1.3M

PERSHING SQUARE INC0.2%

+392K

Increased

NCLH3.0%

+4.1M(+113%)

GPC6.1%

+1.3M(+89%)

GDS2.1%

+725K(+24%)

AMZN16.5%

+625K(+20%)

GOOG8.9%

+191K(+16%)

FERG6.4%

+8K(+1%)

Decreased

LBTYK1.7%

-4,854,086(-36%)

QSR9.0%

-1,327,000(-16%)

COLDEUR2.0%

-950,570(-12%)

DNOW0.7%

-837,000(-23%)

WCC4.2%

-774,000(-54%)

EXP2.2%

-362,000(-41%)

UNP6.0%

-355,600(-23%)

TFX3.3%

-186,000(-12%)

AON4.2%

-82,000(-11%)

Exited

WTW

-893,126

PCVX

-800,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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