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Overview/ Baupost Group Llc/Ma/ Q3 2025

Baupost Group Llc/Ma

Seth Klarman · As of Q3 2025 · filed Nov 13, 2025

Q3 2025

Holdings

22 positions · Δ vs prior quarter
QSR RESTAURANT BRANDS INTERN
$529.3M
11.0%
8,252,862 +4,203,300 +103.8% Added
GOOG ALPHABET INC-CL C
$452.6M
9.4%
1,858,138 −775,850 −29.5% Reduced
ELV ELEVANCE HEALTH INC
$426.2M
8.9%
1,319,000 +703,000 +114.1% Added
CRH CRH PLC
$405.7M
8.5%
3,383,395 −442,000 −11.6% Reduced
WTW WILLIS TOWERS WATSON PLC
$376.2M
7.9%
1,089,065 −225,119 −17.1% Reduced
UNP UNION PACIFIC CORP
$353.7M
7.4%
1,496,204 +1,496,204 New
WCC WESCO INTERNATIONAL INC
$317.9M
6.6%
1,503,180 −704,421 −31.9% Reduced
DG DOLLAR GENERAL CORP
$275.6M
5.8%
2,666,876 Held
FERG FERGUSON ENTERPRISES INC
$259.5M
5.4%
1,155,500 +23,500 +2.1% Added
LBTYK LIBERTY GLOBAL LTD-C
$254.5M
5.3%
21,657,803 −3,000,000 −12.2% Reduced
FIS FIDELITY NATIONAL INFO SERV
$249.9M
5.2%
3,789,711 Held
EXP EAGLE MATERIALS INC
$219.0M
4.6%
939,660 +263,403 +39.0% Added
GPC GENUINE PARTS CO
$193.3M
4.0%
1,395,000 +1,395,000 New
GDS GDS HOLDINGS LTD - ADR
$125.8M
2.6%
3,249,952 Held
FISV FISERV INC
$115.4M
2.4%
895,000 Held
HLF HERBALIFE LTD
$65.5M
1.4%
7,759,844 Held
LBTYA LIBERTY GLOBAL LTD-A
$58.2M
1.2%
5,076,762 Held
COLD AMERICOLD REALTY TRUST INC
$44.1M
0.9%
3,600,000 +3,600,000 New
PAGS PAGSEGURO DIGITAL LTD-CL A
$25.0M
0.5%
2,500,000 Held
HLF 4.25 06/15/28 PRN HERBALIFE LTD
$15.8M
0.3%
17,129,000 Held
TBN TAMBORAN RESOURCES CORP
$15.6M
0.3%
570,833 Held
CABO 1.125 03/15/28 PRN CABLE ONE INC
$12.1M
0.3%
14,100,000 +14,100,000 New

Sold positions

5 closed in Q3 2025 · shares & value as of prior filing
Holding Shares sold Prior value
VSAT VIASAT INC
9,190,728 $134.2M
8L8C LIBERTY BROADBAND-C
745,610 $73.4M
ICLR ICON PLC
405,000 $58.9M
AMCREUR AMCOR PLC
5,500,000 $50.5M
LIBERTY BROADBAND CORP
7,560 $740K

Holdings reflect long positions disclosed in 13F filings only and exclude short positions, cash, and other non-13F assets. Holdings data sourced from SEC EDGAR. Not investment advice. Full disclaimer.