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The Baupost Group, L.L.C.
Seth Klarman · Hedge Fund · Value
The Baupost Group, L.L.C. is a prominent private investment partnership based in Boston, Massachusetts. Founded in 1982 by a group including William Poorvu and Seth Klarman, the firm has grown into one of the world's largest and most respected hedge funds. Baupost is distinguished by its long-term perspective and commitment to capital preservation, managing assets for a diverse group of institutional and individual clients. The firm is widely recognized for its opportunistic approach, successfully navigating various market cycles by maintaining a disciplined focus on risk management and fundamental research across a broad spectrum of asset classes.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +12.4% |
| YTD return | +5.2% |
| Sharpe ratio | 3.80 |
| Win rate | 52% |
| AUM | $5.6B |
| Inception | Oct 1, 2025 |
| Updated | Sep 21, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $5.6B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.baupost.com |
Current Holdings
Updated on Sep 21, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| AMZN | Amazon.com Inc | 17.6% | +10.0% |
| QSR | Restaurant Brands International Inc | 9.4% | +10.1% |
| ELV | Elevance Health Inc | 9.1% | +22.4% |
| GOOGL | Alphabet Inc Class A | 8.5% | +30.3% |
| GPC | Genuine Parts Co | 6.8% | -7.4% |
| FERG | Ferguson Plc | 6.4% | -4.9% |
| UNP | Union Pacific Corporation | 6.2% | +14.0% |
| V | Visa Inc. Class A | 4.6% | +12.4% |
| AON | Aon PLC | 4.4% | -10.5% |
| WCC | WESCO International Inc | 4.3% | +67.3% |
| TFX | Teleflex Incorporated | 3.5% | -6.0% |
| CME | CME Group Inc | 3.0% | +0.2% |
| NCLH | Norwegian Cruise Line Holdings Ltd | 2.6% | -15.5% |
| MOH | Molina Healthcare Inc | 2.4% | +26.5% |
| GDS | GDS Holdings Ltd | 2.3% | -10.2% |
| HLF | Herbalife Nutrition Ltd | 2.0% | +21.8% |
| EXP | Eagle Materials Inc | 2.0% | -21.9% |
| COLD | Americold Realty Trust | 1.8% | +8.9% |
| LBTYA | Liberty Global PLC | 1.6% | -13.8% |
| AERO | Grupo Aeroméxico, S.A.B. de C.V. | 1.4% | -21.0% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 24, 2026 | BUY | NCLH | 1.0% → 2.6% |
| Aug 24, 2026 | BUY | AERO | 1.4% → 1.4% |
| Aug 24, 2026 | SELL | COLD | 2.0% → 1.8% |
| Aug 24, 2026 | SELL | EXP | 3.1% → 2.0% |
| Aug 24, 2026 | BUY | GOOGL | 8.1% → 8.5% |
Investment Style Analysis
The Baupost Group, L.L.C. is widely recognized for employing a Value strategy. As of Sep 21, 2026, the firm oversees approximately $5.6B in assets under management (AUM). The portfolio demonstrates a clear preference for the Internet Retail and Healthcare Plans sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 24, The Baupost Group, L.L.C. made a significant move by increasing exposure to NCLH. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The Baupost Group follows a risk-averse, value-oriented investment philosophy rooted in the principles of Benjamin Graham. The core of its strategy is the 'margin of safety,' which involves purchasing assets at a significant discount to their intrinsic value to protect against downside risk. The firm is agnostic to asset classes, investing in public and private equities, distressed debt, real estate, and other complex securities. Baupost is known for its patient and contrarian approach, often holding large cash balances when attractive opportunities are scarce and seeking out-of-favor or misunderstood investments where price and value are decoupled.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with The Baupost Group, L.L.C..
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Frequently asked questions
How is the simulated portfolio for The Baupost Group, L.L.C. constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is The Baupost Group, L.L.C.'s largest holding?
As of the latest filing, The Baupost Group, L.L.C.'s top position is Amazon.com Inc (AMZN), representing 17.6% of the portfolio. This reflects a high-conviction bet by the institution.
What is The Baupost Group, L.L.C.'s historical performance and risk profile?
Our simulation indicates a total return of +12.4% with a win rate of 52%. Notably, the portfolio maintains a Sharpe Ratio of 3.80, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does The Baupost Group, L.L.C. primarily invest in?
The Baupost Group, L.L.C. has a strong preference for the Internet Retail sector, which makes up 17.6% of their disclosed assets. The portfolio also has exposure to Healthcare Plans, indicating a specific thematic focus.
Is The Baupost Group, L.L.C.'s portfolio concentrated or diversified?
The Baupost Group, L.L.C. runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 36.2% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has The Baupost Group, L.L.C. performed in 2026?
Our AI-simulated model portfolio for The Baupost Group, L.L.C. tracks a Year-to-Date (YTD) return of +5.2%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Seth Klarman manage The Baupost Group, L.L.C. directly?
Yes, Seth Klarman serves as the key portfolio manager for The Baupost Group, L.L.C., overseeing the investment strategy and final capital allocation decisions.