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BAUPOST GROUP LLC/MA

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13F filer, CIK 1061768, BOSTON, MA

BAUPOST GROUP LLC/MA reported $3,496,062,000 across 23 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 79.29% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001061768-25-000003

Period
2025-03-31
Reported value
$3.5B
Holdings
23
Top 10 weight
79.29%
New
4
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
FISnew+3,492,947$261M
ELVnew+246,000$107M
GOOGadded+652,000$102M
WCCadded+569,930$88.5M
ICLRnew+405,000$70.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LBTYKreduced-14,796,040-$177M
WTWreduced-311,081-$105M
SUNRISE COMMUNICATIONS AGexited-2,335,263-$101M
CLVTreduced-25,501,342-$100M
HUMexited-346,000-$87.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001061768-25-000003, largest first. % of portfolio is the value over $3,496,062,000, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
WTWWILLIS TOWERS WATSON PLC LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,781,206 shares; 2024Q4: 1,836,748 shares; 2025Q1: 1,525,667 shares 1,525,667$516M14.75%-311,081Timeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,465,588 shares; 2024Q4: 1,425,988 shares; 2025Q1: 2,077,988 shares 2,077,988$325M9.29%+652,000Timeline
WCCWESCO INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,258,000 shares; 2024Q4: 1,435,671 shares; 2025Q1: 2,005,601 shares 2,005,601$311M8.91%+569,930Timeline
LBTYKLIBERTY GLOBAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 42,311,011 shares; 2024Q4: 39,453,843 shares; 2025Q1: 24,657,803 shares 24,657,803$295M8.44%-14,796,040Timeline
FISFIDELITY NATL INFORMATION SVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 971,460 shares; 2024Q4: not reported; 2025Q1: 3,492,947 shares 3,492,947$261M7.46%newTimeline
QSRRESTAURANT BRANDS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,294 shares; 2024Q4: 2,901,700 shares; 2025Q1: 3,886,562 shares 3,886,562$259M7.41%+984,862Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,636,602 shares; 2024Q4: 2,641,402 shares; 2025Q1: 2,694,395 shares 2,694,395$237M6.78%+52,993Timeline
EXPEAGLE MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,273 shares; 2024Q4: 638,223 shares; 2025Q1: 909,633 shares 909,633$202M5.77%+271,410Timeline
DGDOLLAR GEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,303,800 shares; 2024Q4: 2,060,800 shares; 2025Q1: 2,104,876 shares 2,104,876$185M5.29%+44,076Timeline
FERGFERGUSON ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,132,000 shares; 2025Q1: 1,132,000 shares 1,132,000$181M5.19%0Timeline
GDSGDS HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,249,952 shares; 2024Q4: 4,249,952 shares; 2025Q1: 4,249,952 shares 4,249,952$108M3.08%0Timeline
ELVELEVANCE HEALTH INC FORMERLYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 246,000 shares 246,000$107M3.06%newTimeline
VSATVIASAT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,222,590 shares; 2024Q4: 12,222,590 shares; 2025Q1: 10,190,728 shares 10,190,728$106M3.04%-2,031,862Timeline
SOLVSOLVENTUM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,820,000 shares; 2024Q4: 1,446,300 shares; 2025Q1: 1,053,240 shares 1,053,240$80.1M2.29%-393,060Timeline
ICLRICON PUB LTD COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 405,000 shares 405,000$70.9M2.03%newTimeline
HLFHERBALIFE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,124,526 shares; 2024Q4: 7,600,526 shares; 2025Q1: 7,600,526 shares 7,600,526$65.6M1.88%0Timeline
LBTYALIBERTY GLOBAL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,194,276 shares; 2024Q4: 5,201,444 shares; 2025Q1: 5,076,762 shares 5,076,762$58.4M1.67%-124,682Timeline
CLVTCLARIVATE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,929,635 shares; 2024Q4: 36,279,205 shares; 2025Q1: 10,777,863 shares 10,777,863$42.4M1.21%-25,501,342Timeline
SGISOMNIGROUP INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 703,349 shares 703,349$42.1M1.2%newTimeline
LBRDKLIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,610 shares; 2024Q4: 170,610 shares; 2025Q1: 170,610 shares 170,610$14.5M0.42%0Timeline
TBNTAMBORAN RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 570,833 shares; 2024Q4: 570,833 shares; 2025Q1: 570,833 shares 570,833$13.7M0.39%0Timeline
LBRDALIBERTY BROADBAND CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,560 shares; 2024Q4: 7,560 shares; 2025Q1: 7,560 shares 7,560$643K0.02%0Timeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
HERBALIFE LTDHERBALIFE LTD NOTE 4.250% 6/1principal17,129,000$14.8M0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SUNRISE COMMUNICATIONS AGSUNRISE COMMUNICATIONS AG2,335,263$101Mshares
HUMHUMANA INC346,000$87.8Mshares
GPCGENUINE PARTS CO315,337$36.8Mshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001061768-25-000003 base2025-05-14acceptance time not in the bulk data set