Baupost Group’s NovaGold Resources NG Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-13,467,145	Closed	-$50M	–	38
2018 Q3	$50M	Hold	13,467,145	–	–	0.38%	29
2018 Q2	$59.9M	Hold	13,467,145	–	–	0.52%	24
2018 Q1	$58.3M	Buy	13,467,145 +2,724,310	+25%	+$11.8M	0.56%	22
2017 Q4	$42.2M	Buy	10,742,835 +1,242,835	+13%	+$4.88M	0.42%	24
2017 Q3	$39.1M	Hold	9,500,000	–	–	0.49%	26
2017 Q2	$43.3M	Hold	9,500,000	–	–	0.49%	27
2017 Q1	$46.3M	Hold	9,500,000	–	–	0.54%	28
2016 Q4	$43.3M	Hold	9,500,000	–	–	0.56%	29
2016 Q3	$53.2M	Hold	9,500,000	–	–	0.76%	27
2016 Q2	$58.1M	Sell	9,500,000 -5,500,000	-37%	-$33.7M	0.79%	22
2016 Q1	$75.6M	Sell	15,000,000 -3,977,449	-21%	-$20M	1.09%	18
2015 Q4	$79.9M	Sell	18,977,449 -2,710,851	-12%	-$11.4M	1.45%	16
2015 Q3	$78.3M	Hold	21,688,300	–	–	1.3%	19
2015 Q2	$74.2M	Hold	21,688,300	–	–	1.24%	17
2015 Q1	$64.2M	Hold	21,688,300	–	–	1.08%	18
2014 Q4	$64M	Hold	21,688,300	–	–	1.26%	17
2014 Q3	$65.7M	Hold	21,688,300	–	–	1.14%	17
2014 Q2	$91.3M	Hold	21,688,300	–	–	1.49%	12
2014 Q1	$78.3M	Hold	21,688,300	–	–	1.89%	9
2013 Q4	$55.1M	Hold	21,688,300	–	–	1.56%	10
2013 Q3	$50.3M	Hold	21,688,300	–	–	1.44%	10
2013 Q2	$45.8M	Buy	+21,688,300	New	+$45.8M	1.14%	12