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Baupost Group

Superinvestor

Baupost Group LLC

SEC CIK
0001061768
Manager
Seth Klarman
Style
Value
Latest filing
Aug 13, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 13, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
22
0 vs. Q3 2025
Portfolio value
$5.28B
+$487.8M (+10.2%) vs. Q3 2025
Filed
Feb 13, 2026
SEC
Holdings of Baupost Group in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
QSRRestaurant Brands International Inc.COM8,080,112$551.3M10.4%−172,750−2.1%ReducedHistory
AMZNAmazon Com IncStock2,121,391$489.7M9.3%+2,121,391NewHistory
WTWWillis Towers Watson PLCSHS1,357,601$446.1M8.5%+268,536+24.7%AddedHistory
ELVElevance Health, Inc.Stock1,269,302$445.0M8.4%−49,698−3.8%ReducedHistory
UNPUnion Pacific CorpStock1,627,254$376.4M7.1%+131,050+8.8%AddedHistory
WCCWesco International IncCOM1,418,831$347.1M6.6%−84,349−5.6%ReducedHistory
GOOGAlphabet Inc.Stock1,087,181$341.2M6.5%−770,957−41.5%ReducedHistory
FISFidelity National Information Services, Inc.Stock4,503,801$299.3M5.7%+714,090+18.8%AddedHistory
DGDollar General CorpCOM2,062,821$273.9M5.2%−604,055−22.7%ReducedHistory
FERGFerguson Enterprises Inc.COMMON STOCK NEW1,137,035$253.1M4.8%−18,465−1.6%ReducedHistory
EXPEagle Materials IncCOM1,185,248$245.0M4.6%+245,588+26.1%AddedHistory
LBTYKLiberty Global Ltd.COM CL C20,884,781$230.6M4.4%−773,022−3.6%ReducedHistory
GPCGenuine Parts CoStock1,486,088$182.7M3.5%+91,088+6.5%AddedHistory
FISVFiserv IncStock2,200,000$147.8M2.8%+1,305,000+145.8%AddedHistory
CRHCRH Public Ltd CoORD1,072,957$133.9M2.5%−2,310,438−68.3%ReducedHistory
HLFHerbalife Ltd.COM SHS9,259,844$119.4M2.3%+1,500,000+19.3%AddedHistory
MOHMolina Healthcare, Inc.COM625,000$108.5M2.1%+625,000NewHistory
AEROGrupo Aeromexico, S.A.B. de C.V.SPONSORED ADS4,855,180$106.6M2.0%+4,855,180NewHistory
GDSGDS Holdings LtdSPONSORED ADS3,044,818$106.3M2.0%−205,134−6.3%ReducedHistory
COLDAmericold Realty TrustCOM3,475,685$44.7M0.8%−124,315−3.5%ReducedHistory
LBTYALiberty Global Ltd.COM CL A2,080,456$23.2M0.4%−2,996,306−59.0%ReducedHistory
TBNTamboran Resources CorpCOM257,226$7.00M0.1%−313,607−54.9%ReducedHistory

Sold out since Q3 2025 (3)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Baupost Group sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
PAGSPagSeguro Digital Ltd.COM CL A2,500,000$25.0M0.5%History
Herbalife Ltd.42703MAF0NOTE 4.250% 6/1–$15.8M0.3%–
Cable One, Inc.12685JAG0NOTE 1.125% 3/1–$12.1M0.3%–