Famous value investor Seth Klarman, who manages Baupost Group, reported the following activity in the second quarter:

New Holdings                            Sold
    Energy XXI                                 Direct T.V.


Increased Holdings                   Decreased Holdings
    ADC Telecom                              Audiovox
    Enzon Pharmaceuticals               Breitburn Energy
    Viasat                                           CapitalSource Note
                                                         Domtar
                                                         News Corp