Seth Klarman - Baupost Group 13F Activity & Position Changes (Q4 2015)

As of Dec 31, 2015, 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 Q4 2015, the filing reported:

New Buys - None reported

Increases - Antero Resources Corporation, Cheniere Energy, Inc., PayPal Holdings, Inc., Sunrun Inc.

Reductions - Novagold Resources Inc.

Complete Exits - AerCap, eBay 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
Q4 2015	AER AerCap	AerCap	Sell - Position Exit	-2,450,000	-100.0%	$0.00	-
Q4 2015	AR Antero Resources Corporation	Antero Resources Corporation	Buy	+3,068,181	+19.1%	$417.86K	19,167,944
Q4 2015	EBAY eBay Inc.	eBay Inc.	Sell - Position Exit	-9,315,000	-100.0%	$0.00	-
Q4 2015	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Buy	+3,419,939	+15.1%	$971.84K	26,089,669
Q4 2015	NG Novagold Resources Inc.	Novagold Resources Inc.	Sell	-2,710,851	-12.5%	$79.89K	18,977,449
Q4 2015	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Buy	+204,426	+1.9%	$402.16K	11,109,278
Q4 2015	RUN Sunrun Inc.	Sunrun Inc.	Buy	+1,677,172	+143.2%	$33.52K	2,848,082