13F filing recap · Q2 2026

What did Baupost Group LLC buy in Q2 2026?

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

Stock value

$5.42B

Positions

Estimated turnover

31.4%

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 CME Group, Axalta Coating Systems, and Pershing Square, while exiting Vaxcyte and Willis Towers Watson entirely. The firm added to Amazon, Alphabet, Ferguson Enterprises, Genuine Parts, Norwegian Cruise Line, and GDS Holdings, with the Norwegian Cruise Line increase standing out as particularly sharp. Trims included Restaurant Brands International, Union Pacific, Wesco International, Aon, Teleflex, Eagle Materials, Americold Realty Trust, Liberty Global, and Dnow.

New positions

CMECme Group Inc.$136.69Mreported value+619.0K shares AXTAAxalta Coating Systems Ltd.$43.61Mreported value+1.27M shares PSPershing Square Inc$12.88Mreported value+392.0K shares

Increased positions

AMZNAmazon.com Inc$892.31Mreported value+625.1K shares+20.0%GOOGAlphabet Inc.$484.74Mreported value+190.8K shares+16.2%FERGFerguson Enterprises Inc.$344.27Mreported value+8.2K shares+0.6%GPCGenuine Parts Co$332.25Mreported value+1.33M shares

Reduced positions

QSRRestaurant Brands International Inc.$489.61Mreported value-1.33M shares-16.4%UNPUnion Pacific Corp$322.43Mreported value-355.6K shares-23.1%WCCWesco International, Inc.$228.98Mreported value-774.0K shares-53.9%AONAon Plc$227.87Mreported value-82.0K shares

Exited positions

WTWWillis Towers Watson Plc$259.63Mprior reported value-893.1K shares-100.0%PCVXVaxcyte, Inc.$46.49Mprior reported value-800.0K shares-100.0%