Seth Klarman - Baupost Group 13F Activity & Position Changes (Q2 2017)

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, 2017. 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 2017, the filing reported:

New Buys - Avis Budget Group, Inc.

Increases - Antero Resources Corporation, Cardinal Health, Inc., Qorvo, Inc., Synchrony Financial

Reductions - Credit Acceptance Corporation, Cheniere Energy, Inc.

Complete Exits - Cencora, Inc., Innoviva, Inc., McKesson Corporation

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 2017	AR Antero Resources Corporation	Antero Resources Corporation	Buy	+6,665,115	+45.9%	$457.50K	21,170,996
Q2 2017	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Sell	-145,700	-59.6%	$25.38K	98,700
Q2 2017	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy	+1,000,000	+97.1%	$158.18K	2,030,000
Q2 2017	CAR Avis Budget Group, Inc.	Avis Budget Group, Inc.	Buy - Position Entry	+4,000,000	-	$109.08K	4,000,000
Q2 2017	COR Cencora, Inc.	Cencora, Inc.	Sell - Position Exit	-502,474	-100.0%	$0.00	-
Q2 2017	INVA Innoviva, Inc.	Innoviva, Inc.	Sell - Position Exit	-11,573,663	-100.0%	$0.00	-
Q2 2017	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Sell	-1,000,000	-4.6%	$1.01M	20,726,340
Q2 2017	MCK McKesson Corporation	McKesson Corporation	Sell - Position Exit	-1,000,000	-100.0%	$0.00	-
Q2 2017	QRVO Qorvo, Inc.	Qorvo, Inc.	Buy	+1,814,486	+25.3%	$569.88K	9,000,000
Q2 2017	SYF Synchrony Financial	Synchrony Financial	Buy	+11,630,030	+65.8%	$873.58K	29,295,030