Newgate Capital Management’s Mobile TeleSystems Public Joint Stock Company American Depositary Shares (Each representing 2 Shares MBT Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q2	$424K	Sell	51,187 -7,798	-13%	-$64.6K	0.35%	61
2016 Q1	$477K	Sell	58,985 -10,918	-16%	-$88.3K	0.43%	50
2015 Q4	$432K	Sell	69,903 -5,747	-8%	-$35.5K	0.32%	62
2015 Q3	$534K	Buy	+75,650	New	+$534K	0.4%	52
2013 Q3	–	Sell	-158,668	Closed	-$3.01M	–	156
2013 Q2	$3.01M	Buy	+158,668	New	+$3.01M	0.42%	87