{
 "manager": "Baupost Group",
 "page": "https://www.moatshark.com/m/baupost-group",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-13",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1061768/000106176826000010/0001061768-26-000010-index.html",
 "total_value_usd": 5415853000,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Amazon.com",
   "ticker": "AMZN",
   "moatshark_slug": "amzn",
   "sector": "Consumer discretionary",
   "value_usd": 892310000,
   "shares": 3743854,
   "portfolio_pct": 16.48,
   "previous_pct": 12.7,
   "change": "ADD",
   "share_change_pct": 20,
   "quarters_held": 3
  },
  {
   "company": "Elevance Health",
   "ticker": "ELV",
   "moatshark_slug": "elv",
   "sector": "Health care",
   "value_usd": 493140000,
   "shares": 1275154,
   "portfolio_pct": 9.11,
   "previous_pct": 7.3,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 6
  },
  {
   "company": "Restaurant Brands International",
   "ticker": "QSR",
   "moatshark_slug": "qsr",
   "sector": "Consumer discretionary",
   "value_usd": 489612000,
   "shares": 6753112,
   "portfolio_pct": 9.04,
   "previous_pct": 11.67,
   "change": "REDUCE",
   "share_change_pct": -16.4,
   "quarters_held": 8
  },
  {
   "company": "Alphabet",
   "ticker": "GOOG",
   "moatshark_slug": "goog",
   "sector": "Communication and media",
   "value_usd": 484744000,
   "shares": 1371931,
   "portfolio_pct": 8.95,
   "previous_pct": 6.62,
   "change": "ADD",
   "share_change_pct": 16.2,
   "quarters_held": 26
  },
  {
   "company": "Ferguson Enterprises",
   "ticker": "FERG",
   "moatshark_slug": "ferg",
   "sector": "Industrials",
   "value_usd": 344269000,
   "shares": 1450594,
   "portfolio_pct": 6.36,
   "previous_pct": 6.58,
   "change": "ADD",
   "share_change_pct": 0.6,
   "quarters_held": 7
  },
  {
   "company": "Genuine Parts",
   "ticker": "GPC",
   "moatshark_slug": "gpc",
   "sector": "Industrials",
   "value_usd": 332253000,
   "shares": 2816178,
   "portfolio_pct": 6.13,
   "previous_pct": 3.08,
   "change": "ADD",
   "share_change_pct": 89,
   "quarters_held": 4
  },
  {
   "company": "Union Pacific",
   "ticker": "UNP",
   "moatshark_slug": "unp",
   "sector": "Industrials",
   "value_usd": 322427000,
   "shares": 1185395,
   "portfolio_pct": 5.95,
   "previous_pct": 7.31,
   "change": "REDUCE",
   "share_change_pct": -23.1,
   "quarters_held": 4
  },
  {
   "company": "Visa",
   "ticker": "V",
   "moatshark_slug": "v",
   "sector": "Financials",
   "value_usd": 240628000,
   "shares": 701355,
   "portfolio_pct": 4.44,
   "previous_pct": 4.14,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "WESCO International",
   "ticker": "WCC",
   "moatshark_slug": "wcc",
   "sector": "Industrials",
   "value_usd": 228979000,
   "shares": 662881,
   "portfolio_pct": 4.23,
   "previous_pct": 7.69,
   "change": "REDUCE",
   "share_change_pct": -53.9,
   "quarters_held": 10
  },
  {
   "company": "Aon",
   "ticker": "AON",
   "moatshark_slug": "aon",
   "sector": "Insurance",
   "value_usd": 227871000,
   "shares": 687000,
   "portfolio_pct": 4.21,
   "previous_pct": 4.85,
   "change": "REDUCE",
   "share_change_pct": -10.7,
   "quarters_held": 2
  },
  {
   "company": "Teleflex",
   "ticker": "TFX",
   "moatshark_slug": "tfx",
   "sector": "Health care",
   "value_usd": 178605000,
   "shares": 1409000,
   "portfolio_pct": 3.3,
   "previous_pct": 3.73,
   "change": "REDUCE",
   "share_change_pct": -11.7,
   "quarters_held": 2
  },
  {
   "company": "Norwegian Cruise Line Holdings",
   "ticker": "NCLH",
   "moatshark_slug": "nclh",
   "sector": "Industrials",
   "value_usd": 163180000,
   "shares": 7730000,
   "portfolio_pct": 3.01,
   "previous_pct": 1.33,
   "change": "ADD",
   "share_change_pct": 112.9,
   "quarters_held": 2
  },
  {
   "company": "Molina Healthcare",
   "ticker": "MOH",
   "moatshark_slug": "moh",
   "sector": "Health care",
   "value_usd": 144906000,
   "shares": 633609,
   "portfolio_pct": 2.68,
   "previous_pct": 1.65,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 3
  },
  {
   "company": "CME Group",
   "ticker": "CME",
   "moatshark_slug": "cme",
   "sector": "Financials",
   "value_usd": 136694000,
   "shares": 619000,
   "portfolio_pct": 2.52,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Herbalife",
   "ticker": "HLF",
   "moatshark_slug": "hlf",
   "sector": "Health care",
   "value_usd": 121767000,
   "shares": 9259844,
   "portfolio_pct": 2.25,
   "previous_pct": 2.66,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 15
  },
  {
   "company": "Eagle Materials",
   "ticker": "EXP",
   "moatshark_slug": "exp",
   "sector": "Other",
   "value_usd": 119422000,
   "shares": 530763,
   "portfolio_pct": 2.21,
   "previous_pct": 3.31,
   "change": "REDUCE",
   "share_change_pct": -40.5,
   "quarters_held": 10
  },
  {
   "company": "GDS Holdings",
   "ticker": "GDS",
   "moatshark_slug": "gds",
   "sector": "Technology",
   "value_usd": 113208000,
   "shares": 3769818,
   "portfolio_pct": 2.09,
   "previous_pct": 2.4,
   "change": "ADD",
   "share_change_pct": 23.8,
   "quarters_held": 10
  },
  {
   "company": "Americold Realty Trust",
   "ticker": "COLD",
   "moatshark_slug": "cold",
   "sector": "Financials",
   "value_usd": 107371000,
   "shares": 6830230,
   "portfolio_pct": 1.98,
   "previous_pct": 1.74,
   "change": "REDUCE",
   "share_change_pct": -12.2,
   "quarters_held": 4
  },
  {
   "company": "Liberty Global",
   "ticker": "LBTYA",
   "moatshark_slug": "lbtya",
   "sector": "Communication and media",
   "value_usd": 93975000,
   "shares": 8543161,
   "portfolio_pct": 1.74,
   "previous_pct": 3.07,
   "change": "REDUCE",
   "share_change_pct": -36.2,
   "quarters_held": 11
  },
  {
   "company": "Grupo Aeromexico",
   "ticker": "AERO",
   "moatshark_slug": "aero",
   "sector": "Industrials",
   "value_usd": 87843000,
   "shares": 4880188,
   "portfolio_pct": 1.62,
   "previous_pct": 1.34,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 3
  },
  {
   "company": "Axalta Coating Systems",
   "ticker": "AXTA",
   "moatshark_slug": "axta",
   "sector": "Materials",
   "value_usd": 43608000,
   "shares": 1274356,
   "portfolio_pct": 0.81,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Now",
   "ticker": "DNOW",
   "moatshark_slug": "dnow",
   "sector": "Industrials",
   "value_usd": 36160000,
   "shares": 2788000,
   "portfolio_pct": 0.67,
   "previous_pct": 0.84,
   "change": "REDUCE",
   "share_change_pct": -23.1,
   "quarters_held": 2
  },
  {
   "company": "Pershing Square",
   "ticker": "PS",
   "moatshark_slug": "ps",
   "sector": "Financials",
   "value_usd": 12881000,
   "shares": 392000,
   "portfolio_pct": 0.24,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Willis Towers Watson",
   "ticker": "WTW",
   "moatshark_slug": "wtw",
   "sector": "Insurance",
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 5.08,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 21
  },
  {
   "company": "Vaxcyte",
   "ticker": "PCVX",
   "moatshark_slug": "pcvx",
   "sector": "Health care",
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 0.91,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 1
  }
 ]
}