Seth Klarman - Baupost Group 13F Activity & Position Changes (Q3 2018)

According to the SEC 13F filed on Aug 13, 2026, the Baupost Group portfolio showed several notable changes in holdings as of quarter-end Sep 30, 2018. 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 Q3 2018, the filing reported:

New Buys - YPF Sociedad Anonima

Increases - Cencora, Inc., McKesson Corporation, Pacific Gas & Electric Co.

Reductions - Cardinal Health, Inc., Synchrony Financial

Complete Exits - AT&T 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
Q3 2018	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Sell	-361,515	-7.1%	$255.88K	4,738,485
Q3 2018	COR Cencora, Inc.	Cencora, Inc.	Buy	+877,491	+46.8%	$253.70K	2,751,056
Q3 2018	MCK McKesson Corporation	McKesson Corporation	Buy	+548,000	+33.7%	$288.61K	2,175,700
Q3 2018	PCG Pacific Gas & Electric Co.	Pacific Gas & Electric Co.	Buy	+14,479,790	+321.8%	$873.26K	18,979,790
Q3 2018	SYF Synchrony Financial	Synchrony Financial	Sell	-12,962,101	-44.2%	$507.63K	16,332,929
Q3 2018	T AT&T Inc.	AT&T Inc.	Sell - Position Exit	-9,480,700	-100.0%	$0.00	-
Q3 2018	YPF YPF Sociedad Anonima	YPF Sociedad Anonima	Buy - Position Entry	+6,000,000	-	$92.70K	6,000,000