Pine River Capital Management’s iShares MSCI Brazil ETF EWZ Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q4	–	Sell	-235,000	Closed	-$9.8M	–	15
2017 Q3	$9.8M	Buy	+235,000	New	+$9.19M	0.71%	13
2016 Q4	–	Sell	-150,000	Closed	-$5.06M	–	401
2016 Q3	$5.06M	Sell	150,000 -210,000	-58%	-$6.95M	0.09%	115
2016 Q2	$10.9K	Sell	360,000 -1,340,000	-79%	-$37M	﹤0.01%	101
2016 Q1	$44.7M	Buy	1,700,000 +545,000	+47%	+$11.7M	0.65%	25
2015 Q4	$23.9M	Buy	+1,155,000	New	+$26.9M	0.32%	60
2015 Q3	–	Sell	-1,415,000	Closed	-$46.4M	–	659
2015 Q2	$46.4M	Buy	1,415,000 +300,000	+27%	+$10.4M	0.5%	38
2015 Q1	$35M	Buy	+1,115,000	New	+$37.9M	0.43%	44
2014 Q4	–	Sell	-1,868,200	Closed	-$81.2M	–	785
2014 Q3	$81.2M	Sell	1,868,200 -264,600	-12%	-$13.1M	0.95%	18
2014 Q2	$102M	Buy	+2,132,800	New	+$102M	1.57%	8
2014 Q1	–	Sell	-789,800	Closed	-$35.3M	–	647
2013 Q4	$35.3M	Buy	+789,800	New	+$37.5M	0.43%	47