Panning Capital Management’s BALTIC TRADING LIMITED COMMON STOCK BALT Stock Holding History

Panning Capital Management’s Portfolio BALT Stock Details BALT Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-7,262,918	Closed	-$18.2M	–	18
2014 Q4	$18.2M	Sell	7,262,918 -18,100	-0.2%	-$57.9K	8.78%	5
2014 Q3	$30.1M	Hold	7,281,018	–	–	5.3%	7
2014 Q2	$43.5M	Buy	7,281,018 +4,855,018	+200%	+$30.7M	10.33%	4
2014 Q1	$15.3M	Buy	2,426,000 +100,000	+4%	+$634K	6.28%	4
2013 Q4	$15M	Buy	2,326,000 +1,701,000	+272%	+$8.78M	2.63%	8
2013 Q3	$3.06M	Hold	625,000	–	–	0.95%	16
2013 Q2	$2.32M	Buy	+625,000	New	+$2.23M	0.72%	23

Other funds holding BALT

Centerbridge Partners New York $61.1M AUM 3.67% 1-Year Est. Return

AMH

Apollo Management Holdings New York $7.6B AUM 23.97% 1-Year Est. Return

HVCM

HG Vora Capital Management New York $191M AUM 1.23% 1-Year Est. Return

Royce & Associates New York $10.1B AUM 42.88% 1-Year Est. Return

NGA

New Generation Advisors Manchester, Massachusetts $45.6M AUM 15.43% 1-Year Est. Return

Hourglass Capital Houston, Texas $480M AUM 32.35% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

TAM

Tocqueville Asset Management New York $6.74B AUM 32.29% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

Steelhead Partners Seattle, Washington $1.39B AUM 0.01% 1-Year Est. Return

Panning Capital Management's BALT Position: Q1 2015 in Review

Panning Capital Management sold out of BALTIC TRADING LIMITED COMMON STOCK (BALT) in Q1 2015, closing a stake of 7,262,918 shares — an estimated $18.2M sold.

Panning Capital Management first reported a position in BALT in Q2 2013 and held it in 7 quarters. The position peaked at $43.5M in Q2 2014. 65 funds tracked by Wall St. Rank hold BALT as of Q1 2015.

Panning Capital Management reported no remaining BALTIC TRADING LIMITED COMMON STOCK position as of Q1 2015 after selling out during the quarter.
Panning Capital Management sold 7,262,918 BALTIC TRADING LIMITED COMMON STOCK shares in Q1 2015, an estimated $18.2M.
Panning Capital Management first reported a position in BALTIC TRADING LIMITED COMMON STOCK in Q2 2013 and held it in 7 quarters.
Panning Capital Management's BALTIC TRADING LIMITED COMMON STOCK position peaked at $43.5M in Q2 2014.
65 funds tracked by Wall St. Rank held BALTIC TRADING LIMITED COMMON STOCK as of Q1 2015.

Based on Panning Capital Management's 13F filing for Q1 2015, filed 15 May 2015.