Baupost Group 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Baupost Group disclosed 22 US equity positions worth $5.3bn in its Q4 2025 13F filing. The largest position was QSR at 10.4% of the reported book, followed by AMZN and WTW. Against the Q3 2025 filing, it opened 3 new positions, added to 7 and reduced 12 among the top 22 holdings.
What did Baupost Group own in Q4 2025? Top 22 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | QSR RESTAURANT BRANDS INTL INC | Consumer Cyclical | 10.4% | $551.3m | 8,080,112 | -2% | reduced |
| 2 | AMZN AMAZON COM INC | Consumer Cyclical | 9.3% | $489.7m | 2,121,391 | – | new |
| 3 | WTW WILLIS TOWERS WATSON PLC LTD | Financial Services | 8.5% | $446.1m | 1,357,601 | 25% | added |
| 4 | ELV ELEVANCE HEALTH INC FORMERLY | Healthcare | 8.4% | $445.0m | 1,269,302 | -4% | reduced |
| 5 | UNP UNION PAC CORP | Industrials | 7.1% | $376.4m | 1,627,254 | 9% | added |
| 6 | WCC WESCO INTL INC | Industrials | 6.6% | $347.1m | 1,418,831 | -6% | reduced |
| 7 | GOOG ALPHABET INC | Communication Services | 6.5% | $341.2m | 1,087,181 | -41% | reduced |
| 8 | FIS FIDELITY NATL INFORMATION SV | Technology | 5.7% | $299.3m | 4,503,801 | 19% | added |
| 9 | DG DOLLAR GEN CORP NEW | Consumer Defensive | 5.2% | $273.9m | 2,062,821 | -23% | reduced |
| 10 | FERG FERGUSON ENTERPRISES INC | Industrials | 4.8% | $253.1m | 1,137,035 | -2% | reduced |
| 11 | EXP EAGLE MATLS INC | Basic Materials | 4.6% | $245.0m | 1,185,248 | 26% | added |
| 12 | LIBERTY GLOBAL LTD | 4.4% | $230.6m | 20,884,781 | -4% | reduced | |
| 13 | GPC GENUINE PARTS CO | Consumer Cyclical | 3.5% | $182.7m | 1,486,088 | 7% | added |
| 14 | FISV FISERV INC | 2.8% | $147.8m | 2,200,000 | 146% | added | |
| 15 | CRH CRH PLC | Basic Materials | 2.5% | $133.9m | 1,072,957 | -68% | reduced |
| 16 | HLF HERBALIFE LTD | Consumer Defensive | 2.3% | $119.4m | 9,259,844 | 19% | added |
| 17 | MOH MOLINA HEALTHCARE INC | Healthcare | 2.1% | $108.5m | 625,000 | – | new |
| 18 | GRUPO AEROMEXICO SAB DE CV | 2.0% | $106.6m | 4,855,180 | – | new | |
| 19 | GDS GDS HLDGS LTD | Technology | 2.0% | $106.3m | 3,044,818 | -6% | reduced |
| 20 | COLD AMERICOLD REALTY TRUST INC | Real Estate | 0.8% | $44.7m | 3,475,685 | -3% | reduced |
| 21 | LIBERTY GLOBAL LTD | 0.4% | $23.2m | 2,080,456 | -59% | reduced | |
| 22 | TAMBORAN RES CORP | 0.1% | $7.0m | 257,226 | -55% | reduced |
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.