Baupost Group 13F, Q2 2025
Seth Klarman · quarter ending 30 June 2025 · filed 13 August 2025 · SEC CIK 1061768
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q2 2025
Weights are against the whole filed book. Changes are in shares held, against the Q1 2025 filing.
| Company | Ticker | Value | % of book | vs Q1 2025 |
|---|---|---|---|---|
| ALPHABET INC | GOOG | $467.24M | 11.3% | +27% shares |
| WESCO INTL INC | WCC | $408.85M | 9.9% | +10% shares |
| WILLIS TOWERS WATSON PLC LTD | $402.80M | 9.8% | -14% shares | |
| CRH PLC | $351.17M | 8.5% | +42% shares | |
| FIDELITY NATL INFORMATION SV | FIS | $308.52M | 7.5% | +9% shares |
| DOLLAR GEN CORP NEW | DG | $305.04M | 7.4% | +27% shares |
| RESTAURANT BRANDS INTL INC | QSR | $268.44M | 6.5% | +4% shares |
| LIBERTY GLOBAL LTD | $254.22M | 6.2% | unchanged | |
| FERGUSON ENTERPRISES INC | FERG | $246.49M | 6.0% | unchanged |
| ELEVANCE HEALTH INC | ELV | $239.60M | 5.8% | +150% shares |
| FISERV INC | FISV | $154.31M | 3.7% | new |
| EAGLE MATLS INC | EXP | $136.68M | 3.3% | -26% shares |
| VIASAT INC | VSAT | $134.19M | 3.3% | -10% shares |
| GDS HLDGS LTD | GDS | $99.35M | 2.4% | -24% shares |
| LIBERTY BROADBAND CORP | LBRDK | $73.35M | 1.8% | +337% shares |
| HERBALIFE LTD | $66.89M | 1.6% | +2% shares | |
| ICON PLC | $58.91M | 1.4% | unchanged | |
| LIBERTY GLOBAL LTD | $50.82M | 1.2% | unchanged | |
| AMCOR PLC | $50.55M | 1.2% | new | |
| PAGSEGURO DIGITAL LTD | $24.10M | 0.6% | new | |
| HERBALIFE LTD | HLF 4.25 06/15/28 | $15.62M | 0.4% | unchanged |
| TAMBORAN RES CORP | TBN | $12.17M | 0.3% | unchanged |
| LIBERTY BROADBAND CORP | LBRDA | $740.0K | 0.0% | unchanged |
What changed since Q1 2025
Against the Q1 2025 filing, Baupost Group opened 3 new positions, added to 9, trimmed 4, left 7 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001061768-25-000005, filed by BAUPOST GROUP LLC/MA. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.