13F filing recap · Q1 2026

What did Baupost Group LLC buy in Q1 2026?

Reported stock-position changes between this filing and the previous one.

Stock value

$5.12B

Positions

Estimated turnover

45.3%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Baupost Group opened new positions in Aon, Visa, Teleflex, Norwegian Cruise Line, Vaxcyte, and Dnow, while exiting Dollar General, Fidelity National Information Services, Fiserv, Tamboran Resources, CRH, and Liberty Global. The firm substantially increased its Amazon stake and dramatically added to Americold Realty Trust. It also trimmed Union Pacific and Willis Towers Watson, and reduced its Liberty Global position substantially.

New positions

AONAon Plc$248.22Mreported value+769.0K shares VVisa Inc.$211.98Mreported value+701.4K shares TFXTeleflex Incorporated$190.78Mreported value+1.59M shares NCLHNorwegian Cruise Line Holdings Ltd.$67.88Mreported value+3.63M shares PCVX

Increased positions

AMZNAmazon.com Inc$649.54Mreported value+997.4K shares+47.0%WCCWesco International, Inc.$393.16Mreported value+18.1K shares+1.3%ELVElevance Health, Inc.$373.30Mreported value+5.9K shares+0.5%GOOGAlphabet Inc.$338.82Mreported value+94.0K shares

Reduced positions

UNPUnion Pacific Corp$373.88Mreported value-86.3K shares-5.3%WTWWillis Towers Watson Plc$259.63Mreported value-464.5K shares-34.2%EXPEagle Materials Inc.$169.13Mreported value-292.5K shares-24.7%LBTYKLiberty Global Ltd.$157.15Mreported value-7.49M shares

Exited positions

FISFidelity National Information Services, Inc.$299.32Mprior reported value-4.50M shares-100.0%DGDollar General Corp$273.88Mprior reported value-2.06M shares-100.0%FISVFiserv Inc$147.77Mprior reported value-2.20M shares-100.0%CRHCrh Public Limited Company$133.91Mprior reported value