Seth Klarman - Baupost Group 13F Activity & Position Changes (Q4 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 Dec 31, 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 Q4 2016, the filing reported:

New Buys - Cardinal Health, Inc., Cencora, Inc., McKesson Corporation

Increases - Credit Acceptance Corporation, Synchrony Financial, ViaSat, Inc.

Reductions - Cheniere Energy, Inc.

Complete Exits - Olin Corporation, PayPal Holdings, 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 2016	CACC Credit Acceptance Corporation	Credit Acceptance Corporation	Buy	+144,400	+144.4%	$53.16K	244,400
Q4 2016	CAH Cardinal Health, Inc.	Cardinal Health, Inc.	Buy - Position Entry	+1,030,000	-	$74.13K	1,030,000
Q4 2016	COR Cencora, Inc.	Cencora, Inc.	Buy - Position Entry	+502,474	-	$39.29K	502,474
Q4 2016	LNG Cheniere Energy, Inc.	Cheniere Energy, Inc.	Sell	-6,116,617	-22.0%	$900.12K	21,726,340
Q4 2016	MCK McKesson Corporation	McKesson Corporation	Buy - Position Entry	+1,000,000	-	$140.45K	1,000,000
Q4 2016	OLN Olin Corporation	Olin Corporation	Sell - Position Exit	-6,181,302	-100.0%	$0.00	-
Q4 2016	PYPL PayPal Holdings, Inc.	PayPal Holdings, Inc.	Sell - Position Exit	-5,000,000	-100.0%	$0.00	-
Q4 2016	SYF Synchrony Financial	Synchrony Financial	Buy	+3,100,000	+17.6%	$749.52K	20,665,000
Q4 2016	VSAT ViaSat, Inc.	ViaSat, Inc.	Buy	+1,625,000	+14.1%	$871.33K	13,158,137