Private fund adviser · Boston, MA
The Baupost Group, L.L.C.
SEC-registered investment adviser · CRD 109530 · SEC 801-55245
At a glance
The Baupost Group, L.L.C. is an SEC-registered investment adviser based in Boston, Massachusetts, with $24.7 billion in regulatory assets under management as of its Form ADV filed March 30, 2026. Its largest client group by assets is pooled investment vehicles. By Form ADV it is a private fund adviser, ranked 301st of 4,686 private fund advisers and 748th of 17,210 SEC-registered advisers by assets.
Main office 617-210-8300baupost.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $25B
- Rank among private fund advisers
- #301 of 4,686
- Rank among all SEC RIAs
- #748 of 17,210
- Rank in Massachusetts
- #54 of 627
- Clients
- 12
- Accounts
- 12
- Discretionary
- 100% of AUM
- Employees
- 210
- Advisory staff
- 45
- Offices
- 1
Owners and executives on its Form ADV
- Seth A. KlarmanPartner and Chief Executive Officer
- Thomas W. BlumenthalPartner
- James F. MooneyPartner and President
- Elaine F. MannPartner and Chief Operating Officer
- Joshua A. GreenhillPartner
- Frederick H. FogelPartner and General Counsel
- Jason J. PricePartner and Chief Financial Officer
- Michael M. SperlingPartner
- James A. DavidPartner
- Nicholas J. AzrackPartner
- Richard G CaronaPartner
- Andrew J. McElaneyPartner
Custody and brokerage
Custodian
The Baupost Group, L.L.C.’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Broker-dealer
Affiliated broker-dealer
It names an affiliated broker-dealer: Leerink Partners LLC.
- Leerink Partners LLC ↗CRD 39011
An introducing broker-dealer: its trades clear through Pershing, which holds the brokerage accounts. Its annual audited report filed with the SEC, February 2026
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 12 | $25B | 100% |
Private funds
The Baupost Group, L.L.C. reports 12 private funds with $25B in gross assets: hedge funds (Form ADV Item 7.B).
Disciplinary disclosures
The Baupost Group, L.L.C. answers yes to 2 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for pooled investment vehicles
How it’s paid
- A percentage of assets under management
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗baupost.com ↗
AtlasMembers
The full record on The Baupost Group, L.L.C.
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 578 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 14 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does The Baupost Group, L.L.C. manage?
The Baupost Group, L.L.C. reports $24.7 billion in regulatory assets under management across 12 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
What kind of firm is The Baupost Group, L.L.C.?
The Baupost Group, L.L.C. is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets.
Who are The Baupost Group, L.L.C.’s clients?
By assets, its largest client types are pooled investment vehicles ($24.7 billion, 12 clients).
Does The Baupost Group, L.L.C. manage private funds?
Yes. It reports 12 private funds with $24.7 billion in gross assets, including hedge funds.
Does The Baupost Group, L.L.C. have any disciplinary history?
The Baupost Group, L.L.C. answers yes to 2 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is The Baupost Group, L.L.C.’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →