BRAM

Black River Asset Management’s Pampa Energía PAM Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2015 Q2	–	Sell	-10,000	Closed	-$177K	–	35
2015 Q1	$177K	Buy	+10,000	New	+$177K	0.12%	28
2014 Q3	–	Sell	-119,825	Closed	-$1.17M	–	23
2014 Q2	$1.17M	Buy	+119,825	New	+$1.17M	1.53%	17