Seth Klarman - Baupost Group 13F Activity & Position Changes (Q1 2014)

According to the SEC 13F filed on Aug 13, 2026, the Baupost Group portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2014. 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 Q1 2014, the filing reported:

New Buys - Cheniere Energy, Inc.

Increases - PBF Energy Inc., ViaSat, Inc.

Reductions - BP p.l.c.

Complete Exits - None reported

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
Q1 2014	BP BP p.l.c.	BP p.l.c.	Sell	-2,500,000	-44.1%	$152.30K	3,166,413
Q1 2014	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Buy - Position Entry	+5,660,000	-	$313.28K	5,660,000
Q1 2014	PBF PBF Energy Inc.	PBF Energy Inc.	Buy	+3,440,000	+174.0%	$139.75K	5,416,606
Q1 2014	VSAT ViaSat, Inc.	ViaSat, Inc.	Buy	+266,700	+2.4%	$786.77K	11,395,900