Permit Capital’s Alcoa AA Stock Holding History

Permit Capital’s Portfolio AA Stock Details AA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-8,248	Closed	-$191K	–	32
2015 Q3	$191K	Buy	8,248 +795	+11%	+$18.6K	0.13%	52
2015 Q2	$200K	Buy	7,453 +1,044	+16%	+$32.4K	0.12%	50
2015 Q1	$199K	Hold	6,409	–	–	0.12%	50
2014 Q4	$243K	Hold	6,409	–	–	0.15%	45
2014 Q3	$248K	Sell	6,409 -2,384	-27%	-$93.5K	0.15%	42
2014 Q2	$315K	Sell	8,793 -1,224	-12%	-$40.1K	0.19%	39
2014 Q1	$310K	Hold	10,017	–	–	0.21%	35
2013 Q4	$256K	Buy	10,017 +924	+10%	+$20.5K	0.18%	36
2013 Q3	$177K	Buy	+9,093	New	+$176K	0.13%	42

Other funds holding AA

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Elliott Management New York $11.8B AUM 20.29% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

FPA

First Pacific Advisors El Segundo, California $7.14B AUM 21.51% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

MNA

Manning & Napier Advisors Fairport, New York $7.09B AUM 17.35% 1-Year Est. Return

Orbis Holdings Hamilton, Bermuda $12.8B AUM 8.29% 1-Year Est. Return

Norges Bank Oslo, Norway $935B AUM

OHCM

Oak Hill Capital Management New York $310M AUM 17.23% 1-Year Est. Return

BFA

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

Permit Capital's AA Position: Q4 2015 in Review

Permit Capital sold out of Alcoa (AA) in Q4 2015, closing a stake of 8,248 shares — an estimated $191K sold.

Permit Capital first reported a position in AA in Q3 2013 and held it in 9 quarters. The position peaked at $315K in Q2 2014. 614 funds tracked by Wall St. Rank hold AA as of Q4 2015.

Permit Capital reported no remaining Alcoa position as of Q4 2015 after selling out during the quarter.
Permit Capital sold 8,248 Alcoa shares in Q4 2015, an estimated $191K.
Permit Capital first reported a position in Alcoa in Q3 2013 and held it in 9 quarters.
Permit Capital's Alcoa position peaked at $315K in Q2 2014.
614 funds tracked by Wall St. Rank held Alcoa as of Q4 2015.

Based on Permit Capital's 13F filing for Q4 2015, filed 16 Feb 2016.