MEAG MUNICH ERGO AssetManagement’s Vale VALE Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q2	–	Sell	-310,000	Closed	-$1.3M	–	24
2016 Q1	$1.3M	Buy	310,000 +65,000	+27%	+$272K	0.76%	15
2015 Q4	$807K	Buy	+245,000	New	+$807K	0.51%	16