River Road Asset Management’s Ecopetrol EC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q3	–	Sell	-14,640	Closed	-$528K	–	168
2014 Q2	$528K	Sell	14,640 -17,868	-55%	-$644K	0.01%	161
2014 Q1	$1.33M	Sell	32,508 -3,418	-10%	-$139K	0.01%	169
2013 Q4	$1.38M	Buy	+35,926	New	+$1.38M	0.02%	177