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Baupost Group Portfolio holdings

AUM $5.12B
1-Year Est. Return 15.99%
This Fund
S&P 500
This Quarter Est. Return
+7.14%
1 Year Est. Return
+15.99%
3 Year Est. Return
+34.54%
5 Year Est. Return
+18.79%
10 Year Est. Return
+138.91%
AUM
$4.79B
AUM Growth
+$661M
Cap. Flow
+$341M
Cap. Flow %
7.11%
Top 10 Hldgs %
76.21%
Holding
27
New
3
Increased
4
Reduced
5
Closed
5

Top Buys

1
UNP icon
Union Pacific
UNP
+$337M
2
QSR icon
Restaurant Brands International
QSR
+$277M
3
ELV icon
Elevance Health
ELV
+$219M
4
GPC icon
Genuine Parts
GPC
+$187M
5
EXP icon
Eagle Materials
EXP
+$59.7M

Top Sells

1
GOOG icon
Alphabet (Google) Class C
GOOG
+$163M
2
WCC
WESCO International
WCC
+$148M
3
VSAT icon
Viasat
VSAT
+$134M
4
LBRDK icon
Liberty Broadband Class C
LBRDK
+$73.4M
5
WTW icon
Willis Towers Watson
WTW
+$72.9M

Sector Composition

1 Industrials 19.43%
2 Communication Services 15.97%
3 Consumer Discretionary 15.08%
4 Materials 13.04%
5 Technology 10.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QSR icon
1
Restaurant Brands International
QSR
$26.8B
$529M 11.05%
8,252,862
+4,203,300
+104% +$277M
GOOG icon
2
Alphabet (Google) Class C
GOOG
$4.32T
$453M 9.45%
1,858,138
-775,850
-29% -$163M
ELV icon
3
Elevance Health
ELV
$80.9B
$426M 8.9%
1,319,000
+703,000
+114% +$219M
CRH icon
4
CRH
CRH
$70.6B
$406M 8.47%
3,383,395
-442,000
-12% -$46.7M
WTW icon
5
Willis Towers Watson
WTW
$27.8B
$376M 7.85%
1,089,065
-225,119
-17% -$72.9M
UNP icon
6
Union Pacific
UNP
$178B
$354M 7.38%
+1,496,204
New +$337M
WCC
7
WESCO International
WCC
$15.9B
$318M 6.64%
1,503,180
-704,421
-32% -$148M
DG icon
8
Dollar General
DG
$28B
$276M 5.75%
2,666,876
– –
FERG icon
9
Ferguson
FERG
$45.4B
$260M 5.42%
1,155,500
+23,500
+2% +$5.32M
LBTYK icon
10
Liberty Global Class C
LBTYK
$3.52B
$254M 5.31%
21,657,803
-3,000,000
-12% -$33.6M
FIS icon
11
Fidelity National Information Services
FIS
$22B
$250M 5.22%
3,789,711
– –
EXP icon
12
Eagle Materials
EXP
$6.61B
$219M 4.57%
939,660
+263,403
+39% +$59.7M
GPC icon
13
Genuine Parts
GPC
$17.3B
$193M 4.04%
+1,395,000
New +$187M
GDS icon
14
GDS Holdings
GDS
$6.56B
$126M 2.63%
3,249,952
– –
FISV
15
Fiserv Inc
FISV
$27.6B
$115M 2.41%
895,000
– –
HLF icon
16
Herbalife
HLF
$1.28B
$65.5M 1.37%
7,759,844
– –
LBTYA icon
17
Liberty Global Class A
LBTYA
$3.63B
$58.2M 1.21%
5,076,762
– –
COLD icon
18
Americold
COLD
$4.54B
$44.1M 0.92%
+3,600,000
New +$53.6M
PAGS icon
19
PagSeguro Digital
PAGS
$2.56B
$25M 0.52%
2,500,000
– –
TBN
20
Tamboran Resources
TBN
$1.09B
$15.6M 0.33%
570,833
– –
AMCR icon
21
Amcor
AMCR
$20.7B
– –
-1,100,000
Closed -$50.5M
ICLR icon
22
Icon
ICLR
$13.1B
– –
-405,000
Closed -$58.9M
LBRDA icon
23
Liberty Broadband Class A
LBRDA
$4.5B
– –
-7,560
Closed -$740K
LBRDK icon
24
Liberty Broadband Class C
LBRDK
$4.5B
– –
-745,610
Closed -$73.4M
VSAT icon
25
Viasat
VSAT
$9.38B
– –
-9,190,728
Closed -$134M

Similar funds

PA
Perceptive Advisors New York $5.12B AUM 314.02% 1-Year Est. Return
TAM
Todd Asset Management Louisville, Kentucky $5.11B AUM 34.73% 1-Year Est. Return
CIA
Choate Investment Advisors Boston, Massachusetts $5.11B AUM 17.2% 1-Year Est. Return
AC
AKO Capital London, United Kingdom $5.11B AUM 2.56% 1-Year Est. Return
EIC
Equity Investment Corp Atlanta, Georgia $5.11B AUM 8.63% 1-Year Est. Return
CS
Cannell & Spears New York $5.1B AUM 31.77% 1-Year Est. Return
CIC
Carnegie Investment Counsel Pepper Pike, Ohio $5.13B AUM 22.98% 1-Year Est. Return
NC
Nicholas Company Milwaukee, Wisconsin $5.1B AUM 8.43% 1-Year Est. Return

Baupost Group's Q3 2025 Portfolio in Review

As of Q3 2025, Baupost Group held 27 positions worth $4.79B, up 16% from $4.13B the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Baupost Group deployed $341M of net new capital in Q3 2025, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was Union Pacific: 1,496,204 shares worth $354M.

By sector, the portfolio is most concentrated in Industrials at 19% of assets, up from 16% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was Alphabet (Google) Class C, an estimated $163M trimmed.

  • Baupost Group's largest Q3 2025 buy was Union Pacific: 1,496,204 shares worth $354M.
  • Baupost Group added most to Restaurant Brands International in Q3 2025, an estimated $277M increase.
  • Baupost Group's biggest Q3 2025 reduction was Alphabet (Google) Class C, cutting an estimated $163M.
  • Baupost Group fully exited Viasat in Q3 2025, selling an estimated $134M.
  • Baupost Group's ten largest holdings make up 76% of its $4.79B portfolio in Q3 2025.
  • Baupost Group opened 3 new positions and closed 5 in Q3 2025.
  • Baupost Group's portfolio value rose 16% quarter-over-quarter to $4.79B.

Based on Baupost Group's 13F filing for Q3 2025, filed 13 Nov 2025.