Seth Klarman - Baupost Group 13F Activity & Position Changes (Q1 2018)

As of Mar 31, 2018, 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 2018, the filing reported:

New Buys - Pacific Gas & Electric Co.

Increases - Antero Resources Corporation, McKesson Corporation, Novagold Resources Inc., ViaSat, Inc.

Reductions - Cencora, Inc., PBF Energy Inc.

Complete Exits - Sunrun 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 2018	AR Antero Resources Corporation	Antero Resources Corporation	Buy	+1,865,604	+7.5%	$527.77K	26,587,791
Q1 2018	COR Cencora, Inc.	Cencora, Inc.	Sell	-117,349	-8.2%	$113.56K	1,317,216
Q1 2018	MCK McKesson Corporation	McKesson Corporation	Buy	+255,700	+18.8%	$227.60K	1,615,700
Q1 2018	NG Novagold Resources Inc.	Novagold Resources Inc.	Buy	+2,724,310	+25.4%	$58.31K	13,467,145
Q1 2018	PBF PBF Energy Inc.	PBF Energy Inc.	Sell	-3,000,000	-27.5%	$268.63K	7,924,175
Q1 2018	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Buy - Position Entry	+3,149,972	-	$138.38K	3,149,972
Q1 2018	RUN Sunrun Inc.	Sunrun Inc.	Sell - Position Exit	-2,848,082	-100.0%	$0.00	-
Q1 2018	VSAT ViaSat, Inc.	ViaSat, Inc.	Buy	+500,000	+3.8%	$897.61K	13,658,137