MEAG MUNICH ERGO AssetManagement’s Telefônica Brasil VIV Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q2	–	Sell	-92,000	Closed	-$1.16M	–	25
2016 Q1	$1.16M	Buy	92,000 +32,000	+53%	+$403K	0.68%	16
2015 Q4	$542K	Buy	+60,000	New	+$542K	0.34%	20