Black River Asset Management’s iShares MSCI Emerging Markets ETF EEM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-245,000	Closed	-$10.2M	–	15
2013 Q4	$10.2M	Buy	+245,000	New	+$10.2M	18.4%	2