13F filing recap · Q1 2025

What did Baupost Group LLC buy in Q1 2025?

Reported stock-position changes between this filing and the previous one.

Stock value

$3.48B

Positions

Estimated turnover

42.5%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Baupost Group opened new positions in Fidelity National Information Services, Elevance Health, ICON PLC, and Tempur Sealy International, while exiting Genuine Parts, Humana, and Sunrise Communications entirely. The firm substantially increased its stakes in Alphabet, Wesco International, Eagle Materials, and Restaurant Brands International, and significantly trimmed Liberty Global and Clarivate. It also moderately reduced Willis Towers Watson, Viasat, and Solventum.

New positions

FISFidelity National Information Services, Inc.$260.85Mreported value+3.49M shares ELVElevance Health, Inc.$107.00Mreported value+246.0K shares ICLRICON PLC$70.87Mreported value+405.0K shares SGITempur Sealy International Inc$42.12Mreported value+703.3K shares

Increased positions

GOOGAlphabet Inc.$324.64Mreported value+652.0K shares+45.7%WCCWesco International, Inc.$311.47Mreported value+569.9K shares+39.7%QSRRestaurant Brands International Inc.$259.00Mreported value+984.9K shares+33.9%CRHCrh Public Limited Company$237.03Mreported value+53.0K shares

Reduced positions

WTWWillis Towers Watson Plc$515.60Mreported value-311.1K shares-16.9%LBTYKLiberty Global Ltd.$295.15Mreported value-14.80M shares-37.5%VSATViasat, Inc.$106.19Mreported value-2.03M shares-16.6%SOLVSolventum Corporation$80.09Mreported value-393.1K shares

Exited positions

SNRENSunrise Communications AG$100.60Mprior reported value-2.34M shares-100.0%HUMHumana Inc$87.78Mprior reported value-346.0K shares-100.0%GPCGenuine Parts Co$36.82Mprior reported value-315.3K shares-100.0%