13F-HR 1 form13fhr.txt NONE UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2011 Check here if Amendment []; Amendment Number: ------- This Amendment (Check only one.): [] is a restatement. [] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: The Baupost Group, L.L.C. Address: 10 St. James Avenue Suite 1700 Boston, MA 02116 Form 13F File Number: 28-7120 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this submission. Persons Signing this Report on Behalf of Reporting Manager: Name: Scott A. Nathan Title: Chief Risk Officer Phone: (617) 210-8300 Signature, Place, and Date of Signing: /s/ Scott A. Nathan Boston, MA 2/10/2012 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 23 Form 13F Information Table Value Total: $ 3,336,081 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE

FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ---------------------------- --------------- --------- -------- ----------------- ---------- -------- -------------------- VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ---------------------------- --------------- --------- -------- -------- --- ---- ---------- -------- -------- ------ ---- ALERE INC COM 01449J105 46180 2000000 SH SOLE 2000000 0 0 ALLIANCE ONE INTL INC COM 018772103 23900 8786700 SH SOLE 8786700 0 0 ALLIED NEVADA GOLD CORP COM 019344100 121506 4012750 SH SOLE 4012750 0 0 AVEO PHARMACEUTICALS INC COM 053588109 87456 5084652 SH SOLE 5084652 0 0 BP PLC SPONSORED ADR 055622104 512880 12000000 SH SOLE 12000000 0 0 CENTRAL PAC FINL CORP COM NEW 154760409 23256 1800000 SH SOLE 1800000 0 0 ENZON PHARMACEUTICALS INC COM 293904108 60306 9000878 SH SOLE 9000878 0 0 GENWORTH FINL INC COM CL A 37247D106 65500 10000000 SH SOLE 10000000 0 0 HEWLETT PACKARD CO COM 428236103 483000 18750000 SH SOLE 18750000 0 0 IDENIX PHARMACEUTICALS INC COM 45166R204 42176 5665000 SH SOLE 5665000 0 0 ITURAN LOCATION AND CONTROL SHS M6158M104 23026 1685666 SH SOLE 1685666 0 0 MICROSOFT CORP COM 594918104 311520 12000000 SH SOLE 12000000 0 0 MULTIMEDIA GAMES HLDG CO INC COM 625453105 20049 2525000 SH SOLE 2525000 0 0 NEWS CORP CL A 65248E104 268343 15041665 SH SOLE 15041665 0 0 NEWS CORP CL B 65248E203 193769 10658335 SH SOLE 10658335 0 0 NOVAGOLD RES INC COM NEW 66987E206 63314 7466275 SH SOLE 7466275 0 0 PDL BIOPHARMA INC COM 69329Y104 49600 8000000 SH SOLE 8000000 0 0 SYCAMORE NETWORKS INC COM NEW 871206405 9503 530871 SH SOLE 530871 0 0 SYNERON MEDICAL LTD ORD SHS M87245102 44280 4000000 SH SOLE 4000000 0 0 TARGACEPT INC COM 87611R306 33420 6000000 SH SOLE 6000000 0 0 THERAVANCE INC COM 88338T104 314394 14225961 SH SOLE 14225961 0 0 THERAVANCE INC NOTE 3.000% 1/1 88338TAA2 54443 51000000 PRN SOLE 51000000 0 0 VIASAT INC COM 92552V100 484260 10499992 SH SOLE 10499992 0 0