Baupost Group LLC

Period:: Q1 2026
Portfolio date:: Mar 31, 2026
No. of stocks:: 22
Portfolio value:: $5,115,380,000
Filed:: May 14, 2026
CIK:: 1061768

Hist	Stock	Activity	Share change	% change to portfolio
Q1 2026filed May 14, 266 new4 added3 reduced6 exited
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−4,503,801	−5.67
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,062,821	−5.19
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 34.00%	−464,475	−3.38
≡	FISV – FISERV INC	Sell	−2,200,000	−2.80
≡	CRH – CRH PLC	Sell	−1,072,957	−2.54
≡	EXP – EAGLE MATLS INC	Reduce 25.00%	−292,485	−1.33
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 36.00%	−7,487,534	−1.30
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−2,080,456	−0.44
≡	TBN – TAMBORAN RES CORP	Sell	−257,226	−0.13
Q3 2025filed Nov 13, 2522 exited
≡	QSR – RESTAURANT BRANDS INTL INC	Sell	−8,252,862	−11.05
≡	GOOG – ALPHABET INC	Sell	−1,858,138	−9.45
≡	ELV – ELEVANCE HEALTH INC FORMERLY	Sell	−1,319,000	−8.90
≡	CRH – CRH PLC	Sell	−3,383,395	−8.47
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Sell	−1,089,065	−7.85
≡	UNP – UNION PAC CORP	Sell	−1,496,204	−7.38
≡	WCC – WESCO INTL INC	Sell	−1,503,180	−6.64
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,666,876	−5.75
≡	FERG – FERGUSON ENTERPRISES INC	Sell	−1,155,500	−5.42
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−21,657,803	−5.31
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−3,789,711	−5.22
≡	EXP – EAGLE MATLS INC	Sell	−939,660	−4.57
≡	GPC – GENUINE PARTS CO	Sell	−1,395,000	−4.04
≡	GDS – GDS HLDGS LTD	Sell	−3,249,952	−2.63
≡	FISV – FISERV INC	Sell	−895,000	−2.41
≡	HLF – HERBALIFE LTD	Sell	−7,759,844	−1.37
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−5,076,762	−1.21
≡	COLD – AMERICOLD REALTY TRUST INC	Sell	−3,600,000	−0.92
≡	PAGS – PAGSEGURO DIGITAL LTD	Sell	−2,500,000	−0.52
≡	HLF – HERBALIFE LTD	Sell	−17,129,000	−0.33
≡	TBN – TAMBORAN RES CORP	Sell	−570,833	−0.33
≡	CABO – CABLE ONE INC	Sell	−14,100,000	−0.25
Q3 2025filed Nov 13, 254 new3 added5 reduced5 exited
≡	WCC – WESCO INTL INC	Reduce 32.00%	−704,421	−3.26
≡	VSAT – VIASAT INC	Sell	−9,190,728	−3.25
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 17.00%	−225,119	−1.90
≡	GOOG – ALPHABET INC	Reduce 29.00%	−775,850	−1.87
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−745,610	−1.78
≡	ICLR – ICON PLC	Sell	−405,000	−1.43
≡	AMCCD – AMCOR PLC	Sell	−5,500,000	−1.22
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 12.00%	−3,000,000	−0.84
≡	CRH – CRH PLC	Reduce 12.00%	−442,000	−0.04
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−7,560	−0.02
Q2 2025filed Aug 13, 253 new7 added4 reduced3 exited
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 14.00%	−211,483	−5.00
≡	EXP – EAGLE MATLS INC	Reduce 26.00%	−233,376	−2.46
≡	SOLV – SOLVENTUM CORP	Sell	−1,053,240	−2.29
≡	CLVT – CLARIVATE PLC	Sell	−10,777,863	−1.21
≡	SGI – SOMNIGROUP INTERNATIONAL INC	Sell	−703,349	−1.20
≡	GDS – GDS HLDGS LTD	Reduce 24.00%	−1,000,000	−0.67
≡	VSAT – VIASAT INC	Reduce 10.00%	−1,000,000	0.21
Q4 2024filed Feb 13, 2522 exited
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Sell	−1,836,748	−16.75
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−39,453,843	−15.09
≡	GOOG – ALPHABET INC	Sell	−1,425,988	−7.91
≡	WCC – WESCO INTL INC	Sell	−1,435,671	−7.56
≡	CRH – CRH PLC	Sell	−2,641,402	−7.12
≡	FERG – FERGUSON ENTERPRISES INC	Sell	−1,132,000	−5.72
≡	QSR – RESTAURANT BRANDS INTL INC	Sell	−2,901,700	−5.51
≡	CLVT – CLARIVATE PLC	Sell	−36,279,205	−5.37
≡	EXP – EAGLE MATLS INC	Sell	−638,223	−4.59
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,060,800	−4.55
≡	VSAT – VIASAT INC	Sell	−12,222,590	−3.03
≡	GDS – GDS HLDGS LTD	Sell	−4,249,952	−2.94
≡	SNNRF – SUNRISE COMMUNICATIONS AG	Sell	−2,335,263	−2.93
≡	SOLV – SOLVENTUM CORP	Sell	−1,446,300	−2.78
≡	HUM – HUMANA INC	Sell	−346,000	−2.56
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−5,201,444	−1.93
≡	HLF – HERBALIFE LTD	Sell	−7,600,526	−1.48
≡	GPC – GENUINE PARTS CO	Sell	−315,337	−1.07
≡	HLF – HERBALIFE LTD	Sell	−17,129,000	−0.38
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−170,610	−0.37
≡	TBN – TAMBORAN RES CORP	Sell	−570,833	−0.35
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−7,560	−0.02
Q4 2024filed Feb 13, 254 new4 added5 reduced3 exited
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 7.00%	−2,857,168	−10.91
≡	CLVT – CLARIVATE PLC	Reduce 7.00%	−2,650,430	−2.49
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 28.00%	−1,992,832	−2.39
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−971,460	−2.31
≡	J – JACOBS SOLUTIONS INC	Sell	−350,681	−1.31
≡	FTRE – FORTREA HLDGS INC	Sell	−2,293,167	−1.30
≡	DG – DOLLAR GEN CORP NEW	Reduce 11.00%	−243,000	−0.99
≡	SOLV – SOLVENTUM CORP	Reduce 21.00%	−373,700	−0.83
Q3 2024filed Nov 13, 246 new4 added5 reduced9 exited
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 72.00%	−2,537,794	−4.96
≡	HUM – HUMANA INC	Sell	−420,000	−4.32
≡	JAZZ – JAZZ PHARMACEUTICALS PLC	Sell	−1,274,248	−3.74
≡	TEAD – OUTBRAIN INC	Sell	−118,000,000	−2.84
≡	WSC – WILLSCOT MOBIL MINI HLDNG CO	Sell	−2,470,000	−2.56
≡	CRH – CRH PLC	Reduce 38.00%	−1,590,000	−1.77
≡	TBPH – THERAVANCE BIOPHARMA INC	Sell	−4,200,021	−0.98
≡	CPRI – CAPRI HOLDINGS LIMITED	Sell	−1,000,000	−0.91
≡	FTRE – FORTREA HLDGS INC	Reduce 27.00%	−847,193	−0.71
≡	VSAT – VIASAT INC	Reduce 11.00%	−1,536,774	−0.66
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−1,058,616	−0.65
≡	J – JACOBS SOLUTIONS INC	Reduce 29.00%	−143,537	−0.59
≡	VRSN – VERISIGN INC	Sell	−105,764	−0.52
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−600,194	−0.37
Q2 2024filed Aug 13, 245 new9 added6 reduced3 exited
≡	GOOG – ALPHABET INC	Reduce 64.00%	−1,888,064	−6.94
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 37.00%	−2,069,715	−4.06
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 76.00%	−3,292,432	−2.90
≡	VSAT – VIASAT INC	Reduce 8.00%	−1,271,474	−2.64
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 78.00%	−2,077,462	−1.81
≡	WBD – WARNER BROS DISCOVERY INC	Sell	−3,713,930	−0.89
≡	TBPH – THERAVANCE BIOPHARMA INC	Reduce 36.00%	−2,394,105	−0.64
≡	OPTU – ALTICE USA INC	Sell	−4,774,615	−0.34
≡	SOUN – SOUNDHOUND AI INC	Sell	−1,130,636	−0.15
Q1 2024filed May 14, 246 new2 added8 reduced7 exited
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 71.00%	−10,500,000	−5.78
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 85.00%	−21,521,164	−5.38
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 12.00%	−781,750	3.00
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 67.00%	−5,500,000	−2.95
≡	VSAT – VIASAT INC	Reduce 7.00%	−1,144,001	−2.41
≡	TSEM – TOWER SEMICONDUCTOR LTD	Sell	−2,710,852	−1.80
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−1,899,547	−1.51
≡	SSNC – SS&C TECHNOLOGIES HLDGS INC	Sell	−1,028,545	−1.37
≡	CRH – CRH PLC	Reduce 19.00%	−636,000	1.36
≡	GTN – GRAY TELEVISION INC	Sell	−3,760,000	−0.73
≡	GTX – GARRETT MOTION INC	Sell	−2,994,289	−0.63
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−718,270	−0.59
≡	TBPH – THERAVANCE BIOPHARMA INC	Reduce 11.00%	−825,100	−0.20
≡	J – JACOBS SOLUTIONS INC	Reduce 30.00%	−221,000	0.07
≡	FNCH – FINCH THERAPEUTICS GROUP INC	Sell	−67,296	−0.01

Hist	Stock	Activity	Share change	% change to portfolio
Q1 2026filed May 14, 266 new4 added3 reduced6 exited
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−4,503,801	−5.67
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,062,821	−5.19
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 34.00%	−464,475	−3.38
≡	FISV – FISERV INC	Sell	−2,200,000	−2.80
≡	CRH – CRH PLC	Sell	−1,072,957	−2.54
≡	EXP – EAGLE MATLS INC	Reduce 25.00%	−292,485	−1.33
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 36.00%	−7,487,534	−1.30
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−2,080,456	−0.44
≡	TBN – TAMBORAN RES CORP	Sell	−257,226	−0.13
Q3 2025filed Nov 13, 2522 exited
≡	QSR – RESTAURANT BRANDS INTL INC	Sell	−8,252,862	−11.05
≡	GOOG – ALPHABET INC	Sell	−1,858,138	−9.45
≡	ELV – ELEVANCE HEALTH INC FORMERLY	Sell	−1,319,000	−8.90
≡	CRH – CRH PLC	Sell	−3,383,395	−8.47
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Sell	−1,089,065	−7.85
≡	UNP – UNION PAC CORP	Sell	−1,496,204	−7.38
≡	WCC – WESCO INTL INC	Sell	−1,503,180	−6.64
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,666,876	−5.75
≡	FERG – FERGUSON ENTERPRISES INC	Sell	−1,155,500	−5.42
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−21,657,803	−5.31
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−3,789,711	−5.22
≡	EXP – EAGLE MATLS INC	Sell	−939,660	−4.57
≡	GPC – GENUINE PARTS CO	Sell	−1,395,000	−4.04
≡	GDS – GDS HLDGS LTD	Sell	−3,249,952	−2.63
≡	FISV – FISERV INC	Sell	−895,000	−2.41
≡	HLF – HERBALIFE LTD	Sell	−7,759,844	−1.37
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−5,076,762	−1.21
≡	COLD – AMERICOLD REALTY TRUST INC	Sell	−3,600,000	−0.92
≡	PAGS – PAGSEGURO DIGITAL LTD	Sell	−2,500,000	−0.52
≡	HLF – HERBALIFE LTD	Sell	−17,129,000	−0.33
≡	TBN – TAMBORAN RES CORP	Sell	−570,833	−0.33
≡	CABO – CABLE ONE INC	Sell	−14,100,000	−0.25
Q3 2025filed Nov 13, 254 new3 added5 reduced5 exited
≡	WCC – WESCO INTL INC	Reduce 32.00%	−704,421	−3.26
≡	VSAT – VIASAT INC	Sell	−9,190,728	−3.25
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 17.00%	−225,119	−1.90
≡	GOOG – ALPHABET INC	Reduce 29.00%	−775,850	−1.87
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−745,610	−1.78
≡	ICLR – ICON PLC	Sell	−405,000	−1.43
≡	AMCCD – AMCOR PLC	Sell	−5,500,000	−1.22
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 12.00%	−3,000,000	−0.84
≡	CRH – CRH PLC	Reduce 12.00%	−442,000	−0.04
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−7,560	−0.02
Q2 2025filed Aug 13, 253 new7 added4 reduced3 exited
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Reduce 14.00%	−211,483	−5.00
≡	EXP – EAGLE MATLS INC	Reduce 26.00%	−233,376	−2.46
≡	SOLV – SOLVENTUM CORP	Sell	−1,053,240	−2.29
≡	CLVT – CLARIVATE PLC	Sell	−10,777,863	−1.21
≡	SGI – SOMNIGROUP INTERNATIONAL INC	Sell	−703,349	−1.20
≡	GDS – GDS HLDGS LTD	Reduce 24.00%	−1,000,000	−0.67
≡	VSAT – VIASAT INC	Reduce 10.00%	−1,000,000	0.21
Q4 2024filed Feb 13, 2522 exited
≡	WTW – WILLIS TOWERS WATSON PLC LTD	Sell	−1,836,748	−16.75
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−39,453,843	−15.09
≡	GOOG – ALPHABET INC	Sell	−1,425,988	−7.91
≡	WCC – WESCO INTL INC	Sell	−1,435,671	−7.56
≡	CRH – CRH PLC	Sell	−2,641,402	−7.12
≡	FERG – FERGUSON ENTERPRISES INC	Sell	−1,132,000	−5.72
≡	QSR – RESTAURANT BRANDS INTL INC	Sell	−2,901,700	−5.51
≡	CLVT – CLARIVATE PLC	Sell	−36,279,205	−5.37
≡	EXP – EAGLE MATLS INC	Sell	−638,223	−4.59
≡	DG – DOLLAR GEN CORP NEW	Sell	−2,060,800	−4.55
≡	VSAT – VIASAT INC	Sell	−12,222,590	−3.03
≡	GDS – GDS HLDGS LTD	Sell	−4,249,952	−2.94
≡	SNNRF – SUNRISE COMMUNICATIONS AG	Sell	−2,335,263	−2.93
≡	SOLV – SOLVENTUM CORP	Sell	−1,446,300	−2.78
≡	HUM – HUMANA INC	Sell	−346,000	−2.56
≡	LBTYA – LIBERTY GLOBAL LTD	Sell	−5,201,444	−1.93
≡	HLF – HERBALIFE LTD	Sell	−7,600,526	−1.48
≡	GPC – GENUINE PARTS CO	Sell	−315,337	−1.07
≡	HLF – HERBALIFE LTD	Sell	−17,129,000	−0.38
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−170,610	−0.37
≡	TBN – TAMBORAN RES CORP	Sell	−570,833	−0.35
≡	LBRDP – LIBERTY BROADBAND CORP	Sell	−7,560	−0.02
Q4 2024filed Feb 13, 254 new4 added5 reduced3 exited
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 7.00%	−2,857,168	−10.91
≡	CLVT – CLARIVATE PLC	Reduce 7.00%	−2,650,430	−2.49
≡	LBTYA – LIBERTY GLOBAL LTD	Reduce 28.00%	−1,992,832	−2.39
≡	FIS – FIDELITY NATL INFORMATION SV	Sell	−971,460	−2.31
≡	J – JACOBS SOLUTIONS INC	Sell	−350,681	−1.31
≡	FTRE – FORTREA HLDGS INC	Sell	−2,293,167	−1.30
≡	DG – DOLLAR GEN CORP NEW	Reduce 11.00%	−243,000	−0.99
≡	SOLV – SOLVENTUM CORP	Reduce 21.00%	−373,700	−0.83
Q3 2024filed Nov 13, 246 new4 added5 reduced9 exited
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 72.00%	−2,537,794	−4.96
≡	HUM – HUMANA INC	Sell	−420,000	−4.32
≡	JAZZ – JAZZ PHARMACEUTICALS PLC	Sell	−1,274,248	−3.74
≡	TEAD – OUTBRAIN INC	Sell	−118,000,000	−2.84
≡	WSC – WILLSCOT MOBIL MINI HLDNG CO	Sell	−2,470,000	−2.56
≡	CRH – CRH PLC	Reduce 38.00%	−1,590,000	−1.77
≡	TBPH – THERAVANCE BIOPHARMA INC	Sell	−4,200,021	−0.98
≡	CPRI – CAPRI HOLDINGS LIMITED	Sell	−1,000,000	−0.91
≡	FTRE – FORTREA HLDGS INC	Reduce 27.00%	−847,193	−0.71
≡	VSAT – VIASAT INC	Reduce 11.00%	−1,536,774	−0.66
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−1,058,616	−0.65
≡	J – JACOBS SOLUTIONS INC	Reduce 29.00%	−143,537	−0.59
≡	VRSN – VERISIGN INC	Sell	−105,764	−0.52
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−600,194	−0.37
Q2 2024filed Aug 13, 245 new9 added6 reduced3 exited
≡	GOOG – ALPHABET INC	Reduce 64.00%	−1,888,064	−6.94
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 37.00%	−2,069,715	−4.06
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 76.00%	−3,292,432	−2.90
≡	VSAT – VIASAT INC	Reduce 8.00%	−1,271,474	−2.64
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 78.00%	−2,077,462	−1.81
≡	WBD – WARNER BROS DISCOVERY INC	Sell	−3,713,930	−0.89
≡	TBPH – THERAVANCE BIOPHARMA INC	Reduce 36.00%	−2,394,105	−0.64
≡	OPTU – ALTICE USA INC	Sell	−4,774,615	−0.34
≡	SOUN – SOUNDHOUND AI INC	Sell	−1,130,636	−0.15
Q1 2024filed May 14, 246 new2 added8 reduced7 exited
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 71.00%	−10,500,000	−5.78
≡	WBD – WARNER BROS DISCOVERY INC	Reduce 85.00%	−21,521,164	−5.38
≡	FIS – FIDELITY NATL INFORMATION SV	Reduce 12.00%	−781,750	3.00
≡	FWONA – LIBERTY MEDIA CORP DEL	Reduce 67.00%	−5,500,000	−2.95
≡	VSAT – VIASAT INC	Reduce 7.00%	−1,144,001	−2.41
≡	TSEM – TOWER SEMICONDUCTOR LTD	Sell	−2,710,852	−1.80
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−1,899,547	−1.51
≡	SSNC – SS&C TECHNOLOGIES HLDGS INC	Sell	−1,028,545	−1.37
≡	CRH – CRH PLC	Reduce 19.00%	−636,000	1.36
≡	GTN – GRAY TELEVISION INC	Sell	−3,760,000	−0.73
≡	GTX – GARRETT MOTION INC	Sell	−2,994,289	−0.63
≡	FWONA – LIBERTY MEDIA CORP DEL	Sell	−718,270	−0.59
≡	TBPH – THERAVANCE BIOPHARMA INC	Reduce 11.00%	−825,100	−0.20
≡	J – JACOBS SOLUTIONS INC	Reduce 30.00%	−221,000	0.07
≡	FNCH – FINCH THERAPEUTICS GROUP INC	Sell	−67,296	−0.01

Hist

Stock

Activity

Share change

% change to portfolio

Q1 2026filed May 14, 266 new4 added3 reduced6 exited

≡

FIS – FIDELITY NATL INFORMATION SV

Sell

−4,503,801

−5.67

≡

DG – DOLLAR GEN CORP NEW

Sell

−2,062,821

−5.19

≡

WTW – WILLIS TOWERS WATSON PLC LTD

Reduce 34.00%

−464,475

−3.38

≡

FISV – FISERV INC

Sell

−2,200,000

−2.80

≡

CRH – CRH PLC

Sell

−1,072,957

−2.54

≡

EXP – EAGLE MATLS INC

Reduce 25.00%

−292,485

−1.33

≡

LBTYA – LIBERTY GLOBAL LTD

Reduce 36.00%

−7,487,534

−1.30

≡

LBTYA – LIBERTY GLOBAL LTD

Sell

−2,080,456

−0.44

≡

TBN – TAMBORAN RES CORP

Sell

−257,226

−0.13

Q3 2025filed Nov 13, 2522 exited

≡

QSR – RESTAURANT BRANDS INTL INC

Sell

−8,252,862

−11.05

≡

GOOG – ALPHABET INC

Sell

−1,858,138

−9.45

≡

ELV – ELEVANCE HEALTH INC FORMERLY

Sell

−1,319,000

−8.90

≡

CRH – CRH PLC

Sell

−3,383,395

−8.47

≡

WTW – WILLIS TOWERS WATSON PLC LTD

Sell

−1,089,065

−7.85

≡

UNP – UNION PAC CORP

Sell

−1,496,204

−7.38

≡

WCC – WESCO INTL INC

Sell

−1,503,180

−6.64

≡

DG – DOLLAR GEN CORP NEW

Sell

−2,666,876

−5.75

≡

FERG – FERGUSON ENTERPRISES INC

Sell

−1,155,500

−5.42

≡

LBTYA – LIBERTY GLOBAL LTD

Sell

−21,657,803

−5.31

≡

FIS – FIDELITY NATL INFORMATION SV

Sell

−3,789,711

−5.22

≡

EXP – EAGLE MATLS INC

Sell

−939,660

−4.57

≡

GPC – GENUINE PARTS CO

Sell

−1,395,000

−4.04

≡

GDS – GDS HLDGS LTD

Sell

−3,249,952

−2.63

≡

FISV – FISERV INC

Sell

−895,000

−2.41

≡

HLF – HERBALIFE LTD

Sell

−7,759,844

−1.37

≡

LBTYA – LIBERTY GLOBAL LTD

Sell

−5,076,762

−1.21

≡

COLD – AMERICOLD REALTY TRUST INC

Sell

−3,600,000

−0.92

≡

PAGS – PAGSEGURO DIGITAL LTD

Sell

−2,500,000

−0.52

≡

HLF – HERBALIFE LTD

Sell

−17,129,000

−0.33

≡

TBN – TAMBORAN RES CORP

Sell

−570,833

−0.33

≡

CABO – CABLE ONE INC

Sell

−14,100,000

−0.25

Q3 2025filed Nov 13, 254 new3 added5 reduced5 exited

≡

WCC – WESCO INTL INC

Reduce 32.00%

−704,421

−3.26

≡

VSAT – VIASAT INC

Sell

−9,190,728

−3.25

≡

WTW – WILLIS TOWERS WATSON PLC LTD

Reduce 17.00%

−225,119

−1.90

≡

GOOG – ALPHABET INC

Reduce 29.00%

−775,850

−1.87

≡

LBRDP – LIBERTY BROADBAND CORP

Sell

−745,610

−1.78

≡

ICLR – ICON PLC

Sell

−405,000

−1.43

≡

AMCCD – AMCOR PLC

Sell

−5,500,000

−1.22

≡

LBTYA – LIBERTY GLOBAL LTD

Reduce 12.00%

−3,000,000

−0.84

≡

CRH – CRH PLC

Reduce 12.00%

−442,000

−0.04

≡

LBRDP – LIBERTY BROADBAND CORP

Sell

−7,560

−0.02

Q2 2025filed Aug 13, 253 new7 added4 reduced3 exited

≡

WTW – WILLIS TOWERS WATSON PLC LTD

Reduce 14.00%

−211,483

−5.00

≡

EXP – EAGLE MATLS INC

Reduce 26.00%

−233,376

−2.46

≡

SOLV – SOLVENTUM CORP

Sell

−1,053,240

−2.29

≡

CLVT – CLARIVATE PLC

Sell

−10,777,863

−1.21

≡

SGI – SOMNIGROUP INTERNATIONAL INC

Sell

−703,349

−1.20

≡

GDS – GDS HLDGS LTD

Reduce 24.00%

−1,000,000

−0.67

≡

VSAT – VIASAT INC

Reduce 10.00%

−1,000,000

0.21

Q4 2024filed Feb 13, 2522 exited

≡

WTW – WILLIS TOWERS WATSON PLC LTD

Sell

−1,836,748

−16.75

≡

LBTYA – LIBERTY GLOBAL LTD

Sell

−39,453,843

−15.09

≡

GOOG – ALPHABET INC

Sell

−1,425,988

−7.91

≡

WCC – WESCO INTL INC

Sell

−1,435,671

−7.56

≡

CRH – CRH PLC

Sell

−2,641,402

−7.12

≡

FERG – FERGUSON ENTERPRISES INC

Sell

−1,132,000

−5.72

≡

QSR – RESTAURANT BRANDS INTL INC

Sell

−2,901,700

−5.51

≡

CLVT – CLARIVATE PLC

Sell

−36,279,205

−5.37

≡

EXP – EAGLE MATLS INC

Sell

−638,223

−4.59

≡

DG – DOLLAR GEN CORP NEW

Sell

−2,060,800

−4.55

≡

VSAT – VIASAT INC

Sell

−12,222,590

−3.03

≡

GDS – GDS HLDGS LTD

Sell

−4,249,952

−2.94

≡

SNNRF – SUNRISE COMMUNICATIONS AG

Sell

−2,335,263

−2.93

≡

SOLV – SOLVENTUM CORP

Sell

−1,446,300

−2.78

≡

HUM – HUMANA INC

Sell

−346,000

−2.56

≡

LBTYA – LIBERTY GLOBAL LTD

Sell

−5,201,444

−1.93

≡

HLF – HERBALIFE LTD

Sell

−7,600,526

−1.48

≡

GPC – GENUINE PARTS CO

Sell

−315,337

−1.07

≡

HLF – HERBALIFE LTD

Sell

−17,129,000

−0.38

≡

LBRDP – LIBERTY BROADBAND CORP

Sell

−170,610

−0.37

≡

TBN – TAMBORAN RES CORP

Sell

−570,833

−0.35

≡

LBRDP – LIBERTY BROADBAND CORP

Sell

−7,560

−0.02

Q4 2024filed Feb 13, 254 new4 added5 reduced3 exited

≡

LBTYA – LIBERTY GLOBAL LTD

Reduce 7.00%

−2,857,168

−10.91

≡

CLVT – CLARIVATE PLC

Reduce 7.00%

−2,650,430

−2.49

≡

LBTYA – LIBERTY GLOBAL LTD

Reduce 28.00%

−1,992,832

−2.39

≡

FIS – FIDELITY NATL INFORMATION SV

Sell

−971,460

−2.31

≡

J – JACOBS SOLUTIONS INC

Sell

−350,681

−1.31

≡

FTRE – FORTREA HLDGS INC

Sell

−2,293,167

−1.30

≡

DG – DOLLAR GEN CORP NEW

Reduce 11.00%

−243,000

−0.99

≡

SOLV – SOLVENTUM CORP

Reduce 21.00%

−373,700

−0.83

Q3 2024filed Nov 13, 246 new4 added5 reduced9 exited

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 72.00%

−2,537,794

−4.96

≡

HUM – HUMANA INC

Sell

−420,000

−4.32

≡

JAZZ – JAZZ PHARMACEUTICALS PLC

Sell

−1,274,248

−3.74

≡

TEAD – OUTBRAIN INC

Sell

−118,000,000

−2.84

≡

WSC – WILLSCOT MOBIL MINI HLDNG CO

Sell

−2,470,000

−2.56

≡

CRH – CRH PLC

Reduce 38.00%

−1,590,000

−1.77

≡

TBPH – THERAVANCE BIOPHARMA INC

Sell

−4,200,021

−0.98

≡

CPRI – CAPRI HOLDINGS LIMITED

Sell

−1,000,000

−0.91

≡

FTRE – FORTREA HLDGS INC

Reduce 27.00%

−847,193

−0.71

≡

VSAT – VIASAT INC

Reduce 11.00%

−1,536,774

−0.66

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−1,058,616

−0.65

≡

J – JACOBS SOLUTIONS INC

Reduce 29.00%

−143,537

−0.59

≡

VRSN – VERISIGN INC

Sell

−105,764

−0.52

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−600,194

−0.37

Q2 2024filed Aug 13, 245 new9 added6 reduced3 exited

≡

GOOG – ALPHABET INC

Reduce 64.00%

−1,888,064

−6.94

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 37.00%

−2,069,715

−4.06

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 76.00%

−3,292,432

−2.90

≡

VSAT – VIASAT INC

Reduce 8.00%

−1,271,474

−2.64

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 78.00%

−2,077,462

−1.81

≡

WBD – WARNER BROS DISCOVERY INC

Sell

−3,713,930

−0.89

≡

TBPH – THERAVANCE BIOPHARMA INC

Reduce 36.00%

−2,394,105

−0.64

≡

OPTU – ALTICE USA INC

Sell

−4,774,615

−0.34

≡

SOUN – SOUNDHOUND AI INC

Sell

−1,130,636

−0.15

Q1 2024filed May 14, 246 new2 added8 reduced7 exited

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 71.00%

−10,500,000

−5.78

≡

WBD – WARNER BROS DISCOVERY INC

Reduce 85.00%

−21,521,164

−5.38

≡

FIS – FIDELITY NATL INFORMATION SV

Reduce 12.00%

−781,750

3.00

≡

FWONA – LIBERTY MEDIA CORP DEL

Reduce 67.00%

−5,500,000

−2.95

≡

VSAT – VIASAT INC

Reduce 7.00%

−1,144,001

−2.41

≡

TSEM – TOWER SEMICONDUCTOR LTD

Sell

−2,710,852

−1.80

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−1,899,547

−1.51

≡

SSNC – SS&C TECHNOLOGIES HLDGS INC

Sell

−1,028,545

−1.37

≡

CRH – CRH PLC

Reduce 19.00%

−636,000

1.36

≡

GTN – GRAY TELEVISION INC

Sell

−3,760,000

−0.73

≡

GTX – GARRETT MOTION INC

Sell

−2,994,289

−0.63

≡

FWONA – LIBERTY MEDIA CORP DEL

Sell

−718,270

−0.59

≡

TBPH – THERAVANCE BIOPHARMA INC

Reduce 11.00%

−825,100

−0.20

≡

J – JACOBS SOLUTIONS INC

Reduce 30.00%

−221,000

0.07

≡

FNCH – FINCH THERAPEUTICS GROUP INC

Sell

−67,296

−0.01