13F filing recap · Q2 2025

What did Baupost Group LLC buy in Q2 2025?

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

Stock value

$4.11B

Positions

Estimated turnover

28.7%

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 Fiserv, Amcor, and Pagseguro Digital, while exiting Solventum, Tempur Sealy International, and Clarivate. The firm added to Alphabet, Wesco International, Crh, Dollar General, and Restaurant Brands International, and sharply increased its stakes in Elevance Health and Liberty Broadband. It trimmed Willis Towers Watson, Eagle Materials, Viasat, and Gds Holdings.

New positions

FISVFiserv Inc$154.31Mreported value+895.0K shares AMCRAmcor Plc$50.55Mreported value+5.50M shares PAGSPagseguro Digital Ltd.$24.10Mreported value+2.50M shares

Increased positions

GOOGAlphabet Inc.$467.24Mreported value+556.0K shares+26.8%WCCWesco International, Inc.$408.85Mreported value+202.0K shares+10.1%CRHCrh Public Limited Company$351.17Mreported value+1.13M shares+42.0%FISFidelity National Information Services, Inc.$308.52Mreported value+296.8K shares

Reduced positions

WTWWillis Towers Watson Plc$402.80Mreported value-211.5K shares-13.9%EXPEagle Materials Inc.$136.68Mreported value-233.4K shares-25.7%VSATViasat, Inc.$134.19Mreported value-1.00M shares-9.8%GDSGds Holdings Limited$99.35Mreported value-1.00M shares

Exited positions

SOLVSolventum Corporation$80.09Mprior reported value-1.05M shares-100.0%CLVTClarivate Plc$42.36Mprior reported value-10.78M shares-100.0%SGITempur Sealy International Inc$42.12Mprior reported value-703.3K shares-100.0%