Seth Klarman - Baupost Group 13F Activity & Position Changes (Q4 2024)

As of Dec 31, 2024, the Baupost Group portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 13, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2024, the filing reported:

New Buys - Ferguson Enterprises Inc., Genuine Parts Company, Humana Inc., Sunrise Communications

Increases - CRH, Eagle Materials Inc, Herbalife, Restaurant Brands International, WESCO International, Inc., and 1 more

Reductions - Dollar General Corporation, Alphabet Inc., Liberty Global, Liberty Global, Solventum Corporation

Complete Exits - Fidelity National Information S, Fortrea Holdings Inc., Jacobs Solutions Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2024	CRH CRH	CRH	Buy	+4,800	+0.2%	$244.38K	2,641,402
Q4 2024	DG Dollar General Corporation	Dollar General Corporation	Sell	-243,000	-10.5%	$156.25K	2,060,800
Q4 2024	EXP Eagle Materials Inc	Eagle Materials Inc	Buy	+137,950	+27.6%	$157.49K	638,223
Q4 2024	FERG Ferguson Enterprises Inc.	Ferguson Enterprises Inc.	Buy - Position Entry	+1,132,000	-	$196.48K	1,132,000
Q4 2024	FIS Fidelity National Information S	Fidelity National Information S	Sell - Position Exit	-971,460	-100.0%	$0.00	-
Q4 2024	FTRE Fortrea Holdings Inc.	Fortrea Holdings Inc.	Sell - Position Exit	-2,293,167	-100.0%	$0.00	-
Q4 2024	G4412G101 Herbalife	Herbalife	Buy	+2,476,000	+48.3%	$50.85K	7,600,526
Q4 2024	GOOG Alphabet Inc.	Alphabet Inc.	Sell	-39,600	-2.7%	$271.56K	1,425,988
Q4 2024	GPC Genuine Parts Company	Genuine Parts Company	Buy - Position Entry	+315,337	-	$36.82K	315,337
Q4 2024	HUM Humana Inc.	Humana Inc.	Buy - Position Entry	+346,000	-	$87.78K	346,000
Q4 2024	J Jacobs Solutions Inc.	Jacobs Solutions Inc.	Sell - Position Exit	-350,681	-100.0%	$0.00	-
Q4 2024	LBTYA Liberty Global	Liberty Global	Sell	-1,992,832	-27.7%	$66.37K	5,201,444
Q4 2024	LBTYK Liberty Global	Liberty Global	Sell	-2,857,168	-6.8%	$518.42K	39,453,843
Q4 2024	QSR Restaurant Brands International	Restaurant Brands International	Buy	+2,873,406	+10155.5%	$189.13K	2,901,700
Q4 2024	SNREV Sunrise Communications	Sunrise Communications	Buy - Position Entry	+2,335,263	-	$100.60K	2,335,263
Q4 2024	SOLV Solventum Corporation	Solventum Corporation	Sell	-373,700	-20.5%	$95.54K	1,446,300
Q4 2024	WCC WESCO International, Inc.	WESCO International, Inc.	Buy	+177,671	+14.1%	$259.80K	1,435,671
Q4 2024	WTW Willis Towers Watson	Willis Towers Watson	Buy	+55,542	+3.1%	$575.34K	1,836,748