Forty4 Asset Management’s Vale VALE Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Hold	0	–	–	–	92
2013 Q4	–	Sell	-15,500	Closed	-$242K	–	153
2013 Q3	$242K	Sell	15,500 -112,100	-88%	-$1.75M	0.09%	88
2013 Q2	$1.68M	Buy	+127,600	New	+$1.68M	0.59%	30