Seth Klarman - Baupost Group 13F Activity & Position Changes (Q2 2016)

According to the SEC 13F filed on Aug 13, 2026, the Baupost Group portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2016. 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 Q2 2016, the filing reported:

New Buys - Citigroup, Inc., Credit Acceptance Corporation, Avis Budget Group, Inc.

Increases - None reported

Reductions - Antero Resources Corporation, Innoviva, Inc., Novagold Resources Inc., PayPal Holdings, Inc.

Complete Exits - Genworth Financial 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
Q2 2016	AR Antero Resources Corporation	Antero Resources Corporation	Sell	-7,000,000	-32.5%	$376.86K	14,505,881
Q2 2016	C Citigroup, Inc.	Citigroup, Inc.	Buy - Position Entry	+5,167,000	-	$219.03K	5,167,000
Q2 2016	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy - Position Entry	+100,000	-	$18.51K	100,000
Q2 2016	CAR Avis Budget Group, Inc.	Avis Budget Group, Inc.	Buy - Position Entry	+1,787,227	-	$57.60K	1,787,227
Q2 2016	GNW Genworth Financial Inc	Genworth Financial Inc	Sell - Position Exit	-1,699,195	-100.0%	$0.00	-
Q2 2016	INVA Innoviva, Inc.	Innoviva, Inc.	Sell	-2,205,892	-11.1%	$185.43K	17,610,091
Q2 2016	NG Novagold Resources Inc.	Novagold Resources Inc.	Sell	-5,500,000	-36.7%	$58.14K	9,500,000
Q2 2016	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell	-1,395,658	-19.8%	$206.80K	5,664,087