Seth Klarman - Baupost Group Portfolio Holdings
As of Sep 30, 2025, the Baupost Group portfolio holdings is valued at approximately $4,790,804.00 featuring 20 publicly traded holdings. This in-depth profile highlights the top investments led by RESTAURANT BRANDS INTL INC (QSR), ALPHABET INC (GOOG), ELEVANCE HEALTH INC FORMERLY (ELV), CRH PLC (CRH), and others based on the company's latest SEC filings reported on Nov 13, 2025. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Baupost Group's stock portfolio spans 20 holdings across 10 sectors, with a total market value of $4,790,804.00. The Other sector represents the largest allocation, while the top holdings account for nearly 77% of the total portfolio value. RESTAURANT BRANDS INTL INC remains the single largest position at 11.0% of all equity investments.
Complete Holdings
Showing 20 of 20 holdings.
| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | RESTAURANT BRANDS INTL INC | QSR | Consumer Cyclical | 11.05% | 8,252,862 | +4,203,300 | +103.80% | $529,337.00 |
| 2 | ALPHABET INC | GOOG | Communication Services | 9.45% | 1,858,138 | -775,850 | -29.46% | $452,550.00 |
| 3 | ELEVANCE HEALTH INC FORMERLY | ELV | Healthcare | 8.90% | 1,319,000 | +703,000 | +114.12% | $426,195.00 |
| 4 | CRH PLC | CRH | Other | 8.47% | 3,383,395 | -442,000 | -11.55% | $405,669.00 |
| 5 | WILLIS TOWERS WATSON PLC LTD | WTW | Other | 7.85% | 1,089,065 | -225,119 | -17.13% | $376,218.00 |
| 6 | UNION PAC CORP | UNP | Industrials | 7.38% | 1,496,204 | +1,321,204 | +754.97% | $353,658.00 |
| 7 | WESCO INTL INC | WCC | Industrials | 6.64% | 1,503,180 | -704,421 | -31.91% | $317,923.00 |
| 8 | DOLLAR GEN CORP NEW | DG | Consumer Defensive | 5.75% | 2,666,876 | - | - | $275,622.00 |
| 9 | FERGUSON ENTERPRISES INC | FERG | Industrials | 5.42% | 1,155,500 | +23,500 | +2.08% | $259,502.00 |
| 10 | LIBERTY GLOBAL LTD | LBTYK | Other | 5.31% | 21,657,803 | -3,000,000 | -12.17% | $254,479.00 |
| 11 | FIDELITY NATL INFORMATION SV | FIS | Technology | 5.22% | 3,789,711 | - | - | $249,894.00 |
| 12 | EAGLE MATLS INC | EXP | Basic Materials | 4.57% | 939,660 | +263,403 | +38.95% | $218,978.00 |
| 13 | GENUINE PARTS CO | GPC | Consumer Cyclical | 4.04% | 1,395,000 | +1,079,663 | +342.38% | $193,347.00 |
| 14 | GDS HLDGS LTD | GDS | Technology | 2.63% | 3,249,952 | - | - | $125,773.00 |
| 15 | FISERV INC | FI | Technology | 2.41% | 895,000 | - | - | $115,392.00 |
| 16 | HERBALIFE LTD | G4412G101 | Other | 1.37% | 7,759,844 | - | - | $65,493.00 |
| 17 | LIBERTY GLOBAL LTD | LBTYA | Other | 1.21% | 5,076,762 | - | - | $58,180.00 |
| 18 | AMERICOLD REALTY TRUST INC | COLD | Real Estate | 0.92% | 3,600,000 | +3,600,000 | +100.00% | $44,064.00 |
| 19 | PAGSEGURO DIGITAL LTD | G68707101 | Other | 0.52% | 2,500,000 | - | - | $25,000.00 |
| 20 | TAMBORAN RES CORP | TBN | Energy | 0.33% | 570,833 | - | - | $15,629.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Other | 24.88% | $1,185,039.00 |
| Industrials | 19.55% | $931,083.00 |
| Consumer Cyclical | 15.17% | $722,684.00 |
| Technology | 10.31% | $491,059.00 |
| Communication Services | 9.50% | $452,550.00 |
| Healthcare | 8.95% | $426,195.00 |
| Consumer Defensive | 5.79% | $275,622.00 |
| Basic Materials | 4.60% | $218,978.00 |
| Real Estate | 0.93% | $44,064.00 |
| Energy | 0.33% | $15,629.00 |
Portfolio insights
As of Sep 30, 2025, the Baupost Group portfolio holds 20 securities valued at $4,762,903.00. The Other sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.