Baupost Group 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Baupost Group disclosed 22 US equity positions worth $4.8bn in its Q3 2025 13F filing. The largest position was QSR at 11.0% of the reported book, followed by GOOG and ELV. Against the Q2 2025 filing, it opened 4 new positions, added to 4 and reduced 5 among the top 22 holdings.
What did Baupost Group own in Q3 2025? Top 22 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | QSR RESTAURANT BRANDS INTL INC | Consumer Cyclical | 11.0% | $529.3m | 8,252,862 | 104% | added |
| 2 | GOOG ALPHABET INC | Communication Services | 9.4% | $452.6m | 1,858,138 | -29% | reduced |
| 3 | ELV ELEVANCE HEALTH INC FORMERLY | Healthcare | 8.9% | $426.2m | 1,319,000 | 114% | added |
| 4 | CRH CRH PLC | Basic Materials | 8.5% | $405.7m | 3,383,395 | -12% | reduced |
| 5 | WTW WILLIS TOWERS WATSON PLC LTD | Financial Services | 7.9% | $376.2m | 1,089,065 | -17% | reduced |
| 6 | UNP UNION PAC CORP | Industrials | 7.4% | $353.7m | 1,496,204 | – | new |
| 7 | WCC WESCO INTL INC | Industrials | 6.6% | $317.9m | 1,503,180 | -32% | reduced |
| 8 | DG DOLLAR GEN CORP NEW | Consumer Defensive | 5.8% | $275.6m | 2,666,876 | 0% | held |
| 9 | FERG FERGUSON ENTERPRISES INC | Industrials | 5.4% | $259.5m | 1,155,500 | 2% | added |
| 10 | LIBERTY GLOBAL LTD | 5.3% | $254.5m | 21,657,803 | -12% | reduced | |
| 11 | FIS FIDELITY NATL INFORMATION SV | Technology | 5.2% | $249.9m | 3,789,711 | 0% | held |
| 12 | EXP EAGLE MATLS INC | Basic Materials | 4.6% | $219.0m | 939,660 | 39% | added |
| 13 | GPC GENUINE PARTS CO | Consumer Cyclical | 4.0% | $193.3m | 1,395,000 | – | new |
| 14 | GDS GDS HLDGS LTD | Technology | 2.6% | $125.8m | 3,249,952 | 0% | held |
| 15 | FISV FISERV INC | 2.4% | $115.4m | 895,000 | 0% | held | |
| 16 | HLF HERBALIFE LTD | Consumer Defensive | 1.4% | $65.5m | 7,759,844 | 0% | held |
| 17 | LIBERTY GLOBAL LTD | 1.2% | $58.2m | 5,076,762 | 0% | held | |
| 18 | COLD AMERICOLD REALTY TRUST INC | Real Estate | 0.9% | $44.1m | 3,600,000 | – | new |
| 19 | PAGS PAGSEGURO DIGITAL LTD | Technology | 0.5% | $25.0m | 2,500,000 | 0% | held |
| 20 | HERBALIFE LTD | 0.3% | $15.8m | 17,129,000 | 0% | held | |
| 21 | TAMBORAN RES CORP | 0.3% | $15.6m | 570,833 | 0% | held | |
| 22 | CABLE ONE INC | 0.3% | $12.1m | 14,100,000 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.