BAUPOST GROUP LLC/MA

Q3 2025 13F-HR Holdings

Location
Boston, MA
Holdings as of
9/30/2025
Date filed
11/13/2025
Form type
13F-HR
Num holdings
22
Total value ($000)
$4,790,804
Net value change ($000)
+660,762 (16.0%)
New positions
3
Sold out positions
5
Turnover %
19.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
UNP 353,658 NEW
QSR 260,892 97.2%
GPC 193,347 NEW
ELV 186,596 77.9%
EXP 82,300 60.2%
CRH 54,498 15.5%
COLD 44,064 NEW
GDS 26,422 26.6%
FERG 13,009 5.3%
LBTYA 7,362 14.5%
Top Reduces (Value $000, Stocks/ETFs)
VSAT -134,185 -100.0%
WCC -90,925 -22.2%
LBRDA -73,353 -100.0%
ICLR -58,907 -100.0%
FIS -58,626 -19.0%
AMCR -50,545 -100.0%
FISV -38,915 -25.2%
DG -29,415 -9.6%
WTW -26,579 -6.6%
GOOGL -14,693 -3.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type