Cullen Capital Management’s Petrobras Class A PBR.A Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-68,500	Closed	-$519K	–	182
2014 Q4	$519K	Sell	68,500 -131,500	-66%	-$996K	0.01%	147
2014 Q3	$2.98M	Buy	200,000 +102,000	+104%	+$1.52M	0.08%	84
2014 Q2	$1.53M	Buy	+98,000	New	+$1.53M	0.04%	99