QCM Cayman’s Tenaris TS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-8,944	Closed	-$213K	–	200
2015 Q4	$213K	Buy	+8,944	New	+$213K	0.18%	52
2015 Q1	–	Sell	-11,077	Closed	-$335K	–	214
2014 Q4	$335K	Buy	+11,077	New	+$335K	0.14%	68