Baupost Group — GDS

How Baupost Group's position in GDS HLDGS LTD changed quarter by quarter. Change badges compare each quarter to the fund's immediately-prior filing.

Quarter	Shares	Value	% of portfolio	Change
Q1 2026	3,044,818	$122,676,000	2.4%	—
Q4 2025	3,044,818	$106,264,000	2.01%	NEW