Seth Klarman - Baupost Group 13F Activity & Position Changes (Q1 2016)

As of Mar 31, 2016, the Baupost Group portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 14, 2026. 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 2016, the filing reported:

New Buys - Genworth Financial Inc, Innoviva, Inc.

Increases - Antero Resources Corporation, Cheniere Energy, Inc., Olin Corporation

Reductions - Novagold Resources Inc., PBF Energy Inc., PayPal Holdings, Inc.

Complete Exits - Micron Technology, Inc.

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 2016	AR Antero Resources Corporation	Antero Resources Corporation	Buy	+2,337,937	+12.2%	$534.85K	21,505,881
Q1 2016	GNW Genworth Financial Inc	Genworth Financial Inc	Buy - Position Entry	+1,699,195	-	$4.64K	1,699,195
Q1 2016	INVA Innoviva, Inc.	Innoviva, Inc.	Buy - Position Entry	+19,815,983	-	$249.48K	19,815,983
Q1 2016	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Buy	+3,751,505	+14.4%	$1.01M	29,841,174
Q1 2016	MU Micron Technology, Inc.	Micron Technology, Inc.	Sell - Position Exit	-1,000,000	-100.0%	$0.00	-
Q1 2016	NG Novagold Resources Inc.	Novagold Resources Inc.	Sell	-3,977,449	-21.0%	$75.60K	15,000,000
Q1 2016	OLN Olin Corporation	Olin Corporation	Buy	+3,739,202	+53.4%	$186.54K	10,739,202
Q1 2016	PBF PBF Energy Inc.	PBF Energy Inc.	Sell	-383,825	-3.5%	$353.29K	10,641,175
Q1 2016	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-4,049,533	-36.5%	$272.51K	7,059,745