Marvin & Palmer Associates’s Grupo Cibest S.A. American Depositary Shares (each representing four (4) Preferred Shares) CIB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-2,700	Closed	-$153K	–	61
2014 Q3	$153K	Buy	+2,700	New	+$153K	0.16%	56