BAUPOST GROUP LLC/MA: UNION PACIFIC (UNP): Quarterly 13F Position History
As of Q1 2026, BAUPOST GROUP LLC/MA reported 1,540,995 shares of UNION PACIFIC (UNP), worth $373.9M and representing 7.3% of its 13F equity book. Quarter-over-quarter share count change: 86,259 (-5.3%) . The position first appeared in Q2 2023 and has been disclosed across 12 13F-HR filings in Pactolio's tracked window.
- 1,540,995Shares Held (Latest Filing)
- $373.9MReported Market Value (Latest Filing)
- 7.3%Portfolio Weight (% of 13F Equity Book)
- 86,259Quarter-over-Quarter Share Change
- -$2.5MQuarter-over-Quarter Value Change
- 1,627,254Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 12 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 1,540,995 | 86,259 | -5.3% | $373.9M | 7.3% | $242.6 |
| Q4 2025 | 1,627,254 | +131,050 | +8.8% | $376.4M | 7.1% | $231.3 |
| Q3 2025 | 1,496,204 | +1,496,204 | — | $353.7M | 7.4% | $236.4 |
| Q2 2025 | 0 | 0 | — | $0 | 0.0% | — |
| Q1 2025 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2024 | 0 | 0 | — | $0 | 0.0% | — |
| Q3 2024 | 0 | 0 | — | $0 | 0.0% | — |
| Q2 2024 | 0 | 0 | — | $0 | 0.0% | — |
| Q1 2024 | 0 | 0 | — | $0 | 0.0% | — |
| Q4 2023 | 0 | 0 | — | $0 | 0.0% | — |
| Q3 2023 | 0 | 175,000 | -100.0% | $0 | 0.0% | — |
| Q2 2023 | 175,000 | — | — | $35.8M | 0.6% | $204.6 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did BAUPOST GROUP LLC/MA first disclose a UNP position in 13F-HR filings?
BAUPOST GROUP LLC/MA first reported UNION PACIFIC (UNP) on its 13F-HR filing for the period ending 2023-06-30 (Q2 2023). The position has appeared on 12 reported quarters within Pactolio's tracked window.
What was BAUPOST GROUP LLC/MA's most recent quarter-over-quarter share-count change in UNP?
Between Q4 2025 and Q1 2026, BAUPOST GROUP LLC/MA reduced its UNP position by 86,259 shares (-5.3%), leaving 1,540,995 shares at a market value of $373.9M.
Does the implied price-per-share represent BAUPOST GROUP LLC/MA's cost basis in UNP?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.