Baupost Group Portfolio - Sep 30, 2025

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Baupost Group, Seth Klarman, has built a diversified portfolio of 20 publicly traded holdings with a total market value of $4.8M as of Sep 30, 2025. This comprehensive analysis examines the latest 13F filing data to understand the investment strategy and recent portfolio adjustments.

The portfolio demonstrates a concentrated approach to stock selection, with the top holding representing 11.0% of the total portfolio value. The top 5 holdings account for 45.7% of the overall portfolio allocation.

Recent portfolio activity shows 10 significant position adjustments, indicating active portfolio management and strategic repositioning. These changes reflect the investor's response to market conditions and evolving investment thesis.

Portfolio Statistics

20
Total Holdings
$4.8M
Portfolio Value
Sep 30, 2025
Latest Filing
11.0%
Largest Position

Top Holdings Analysis

The portfolio's top holdings reveal the investor's core investment thesis and sector preferences. The largest position in RESTAURANT BRANDS INTL INC (QSR) represents 11.0% of the total portfolio, valued at $529.3K.

Rank Symbol Company Value Portfolio % Change
1 QSR RESTAURANT BRANDS INTL INC $529.3K 11.0% +103.8%
2 GOOG ALPHABET INC $452.6K 9.4% -29.5%
3 ELV ELEVANCE HEALTH INC FORMERLY $426.2K 8.9% +114.1%
4 CRH CRH PLC $405.7K 8.5% -11.6%
5 WTW WILLIS TOWERS WATSON PLC LTD $376.2K 7.9% -17.1%

For a complete analysis of all holdings and detailed portfolio breakdown by sector and market cap, visit our comprehensive holdings page.

Recent Portfolio Activity

Recent portfolio adjustments provide insights into the investor's evolving strategy and market outlook. The following table shows the top 10 most significant position changes from recent reporting periods (out of 155 total transactions), sorted by the magnitude of change.

For a complete history of all portfolio transactions and detailed activity analysis, visit our comprehensive activity page.

Symbol Company Quantity Change Date Action
VSAT ViaSat, Inc. -9,190,728 Sep 30, 2025 SELL
G0250X107 Amcor -5,500,000 Sep 30, 2025 SELL
QSR Restaurant Brands International +4,203,300 Sep 30, 2025 BUY
COLD Americold Realty Trust, Inc. +3,600,000 Sep 30, 2025 BUY
LBTYK Liberty Global -3,000,000 Sep 30, 2025 SELL
UNP Union Pacific Corporation +1,496,204 Sep 30, 2025 BUY
GPC Genuine Parts Company +1,395,000 Sep 30, 2025 BUY
GOOG Alphabet Inc. -775,850 Sep 30, 2025 SELL
LBRDK Liberty Broadband Corporation -745,610 Sep 30, 2025 SELL
WCC WESCO International, Inc. -704,421 Sep 30, 2025 SELL

Investment Strategy Insights

Baupost Group's investment approach can be analyzed through several key metrics. The portfolio's concentration in top holdings suggests a high-conviction investment strategy, with significant positions in companies that align with the investor's long-term thesis.

The largest position in RESTAURANT BRANDS INTL INC (QSR) demonstrates strong conviction in this particular investment opportunity. Recent activity shows a increase of 103.8% in this position, indicating active portfolio management and strategic positioning.

Portfolio turnover can be assessed through recent activity patterns. The 10 most significant transactions shown here (out of 155 total transactions) suggest a highly active approach to portfolio management, with frequent strategic adjustments and position changes.

Additional Analysis

Complete Holdings

View all 20 holdings with detailed analysis

Trading Activity

Track all portfolio transactions and position changes

Performance Metrics

Analyze profit, winning trades, and investment returns

Sector Allocation

Analyze portfolio breakdown by sector and industry

Baupost Group's portfolio as of Sep 30, 2025 reflects a strategic approach to equity investing with 20 holdings valued at $4.8M. The concentrated position in RESTAURANT BRANDS INTL INC and other top holdings demonstrates the investor's confidence in specific investment themes and long-term value creation opportunities. Recent activity indicates ongoing portfolio optimization and strategic repositioning.

For the most current portfolio data and detailed analysis, refer to the latest SEC 13F filings and our comprehensive holdings and activity pages, which are updated regularly with the latest filing information.

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