| Quarter Ending 12/31/2011 | Back to the Enlightened American Website | ||||||||
| Seth Klarman (Baupost Group) | |||||||||
| ***** NEW POSITIONS TAKEN | |||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value |
| N/A | N/A | TARGACEPT INC | 6,000,000 | $5.57 | $33,420,000 | ||||
| ***** SOLD OFF | |||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value |
| N/A | N/A | BREITBURN ENERGY PARTNERS LP | 2,500,000 | $17.40 | $43,500,000 | ||||
| ***** HOLD POSITIONS | |||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value |
| 0.00% | 11.47% | ALLIANCE ONE INTL INC | 8,786,700 | 8,786,700 | $2.72 | $2.44 | $23,900,000 | $21,440,000 | |
| 0.00% | 25.19% | CENTRAL PAC FINL CORP | 1,800,000 | 1,800,000 | $12.92 | $10.32 | $23,256,000 | $18,576,000 | |
| 0.00% | -4.83% | ENZON PHARMACEUTICALS INC | 9,000,878 | 9,000,878 | $6.70 | $7.04 | $60,306,000 | $63,366,000 | |
| 0.00% | 14.11% | GENWORTH FINL INC | 10,000,000 | 10,000,000 | $6.55 | $5.74 | $65,500,000 | $57,400,000 | |
| 0.00% | 4.30% | MICROSOFT CORP | 12,000,000 | 12,000,000 | $25.96 | $24.89 | $311,520,000 | $298,680,000 | |
| 0.00% | 96.54% | MULTIMEDIA GAMES HLDG CO INC | 2,525,000 | 2,525,000 | $7.94 | $4.04 | $20,049,000 | $10,201,000 | |
| 0.00% | -0.82% | SYCAMORE NETWORKS INC | 530,871 | 530,871 | $17.90 | $18.05 | $9,503,000 | $9,582,000 | |
| 0.00% | 9.73% | THERAVANCE INC | 14,225,961 | 14,225,961 | $22.10 | $20.14 | $314,394,000 | $286,511,000 | |
| 0.00% | 1.79% | THERAVANCE INC NOTE 3.000% | 51,000,000 | 51,000,000 | $1.07 | $1.05 | $54,443,000 | $53,486,000 | |
| 0.00% | 38.46% | VIASAT INC | 10,499,992 | 10,499,992 | $46.12 | $33.31 | $484,260,000 | $349,755,000 | |
| 0.00% | 17.25% | ITURAN LOCATION AND CONTROL | 1,685,666 | 1,685,666 | $13.66 | $11.65 | $23,026,000 | $19,638,000 | |
| 0.00% | 11.71% | SYNERON MEDICAL LTD | 4,000,000 | 4,000,000 | $11.07 | $9.91 | $44,280,000 | $39,640,000 | |
| ***** AUGMENTED POSITIONS | |||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value |
| 14.65% | -15.44% | 512,750 | ALLIED NEVADA GOLD CORP | 4,012,750 | 3,500,000 | $30.28 | $35.81 | $121,506,000 | $125,335,000 |
| 1.69% | 11.76% | 84,652 | AVEO PHARMACEUTICALS INC | 5,084,652 | 5,000,000 | $17.20 | $15.39 | $87,456,000 | $76,950,000 |
| 126.60% | 49.20% | 3,165,000 | IDENIX PHARMACEUTICALS INC | 5,665,000 | 2,500,000 | $7.45 | $4.99 | $42,176,000 | $12,475,000 |
| 148.84% | 16.54% | 6,375,160 | NEWS CORP CL B | 10,658,335 | 4,283,175 | $18.18 | $15.60 | $193,769,000 | $66,818,000 |
| 49.33% | 31.47% | 2,466,275 | NOVAGOLD RES INC | 7,466,275 | 5,000,000 | $8.48 | $6.45 | $63,314,000 | $32,250,000 |
| ***** REDUCED POSITIONS | |||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value |
| -35.48% | 17.51% | -1,100,000 | ALERE INC | 2,000,000 | 3,100,000 | $23.09 | $19.65 | $46,180,000 | $60,915,000 |
| -12.67% | 18.49% | -1,740,950 | BP PLC | 12,000,000 | 13,740,950 | $42.74 | $36.07 | $512,880,000 | $495,636,000 |
| -9.64% | 14.74% | -2,000,000 | HEWLETT PACKARD CO | 18,750,000 | 20,750,000 | $25.76 | $22.45 | $483,000,000 | $465,838,000 |
| -28.51% | 15.25% | -6,000,000 | NEWS CORP CL A | 15,041,665 | 21,041,665 | $17.84 | $15.48 | $268,343,000 | $325,725,000 |
| -48.84% | 11.71% | -7,636,000 | PDL BIOPHARMA INC | 8,000,000 | 15,636,000 | $6.20 | $5.55 | $49,600,000 | $86,780,000 |
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