Serengeti Asset Management’s IRSA Inversiones y Representaciones IRS Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2019 Q4	–	Sell	-270,000	Closed	-$1.42M	–	19
2019 Q3	$1.42M	Sell	270,000 -30,000	-10%	-$158K	0.69%	12
2019 Q2	$2.93M	Sell	300,000 -120,000	-29%	-$1.17M	0.78%	10
2019 Q1	$4.58M	Sell	420,000 -117,000	-22%	-$1.28M	1.29%	9
2018 Q4	$7.01M	Sell	537,000 -163,000	-23%	-$2.13M	2.2%	7
2018 Q3	$11.9M	Sell	700,000 -275,000	-28%	-$4.66M	1.89%	5
2018 Q2	$16.9M	Sell	975,000 -25,000	-3%	-$432K	3.38%	4
2018 Q1	$23.7M	Hold	1,000,000	–	–	4.52%	4
2017 Q4	$29.6M	Buy	1,000,000 +75,000	+8%	+$2.22M	5.79%	4
2017 Q3	$22.7M	Sell	925,000 -175,000	-16%	-$4.3M	3.89%	5
2017 Q2	$26.5M	Hold	1,100,000	–	–	3.85%	5
2017 Q1	$27M	Sell	1,100,000 -87,000	-7%	-$2.13M	5.24%	4
2016 Q4	$21.9M	Buy	1,187,000 +187,000	+19%	+$3.45M	4.67%	3
2016 Q3	$19M	Sell	1,000,000 -300,000	-23%	-$5.7M	4.82%	3
2016 Q2	$21.9M	Sell	1,300,000 -150,000	-10%	-$2.52M	4.71%	2
2016 Q1	$21.7M	Buy	1,450,000 +275,000	+23%	+$4.11M	5.47%	2
2015 Q4	$14.5M	Buy	1,175,000 +225,000	+24%	+$2.77M	2.57%	3
2015 Q3	$13.8M	Buy	950,000 +150,000	+19%	+$2.18M	2.39%	7
2015 Q2	$14.4M	Buy	800,000 +80,000	+11%	+$1.44M	1.3%	5
2015 Q1	$14.2K	Sell	720,000 -30,000	-4%	-$591	0.85%	8
2014 Q4	$11.5M	Buy	750,000 +80,000	+12%	+$1.23M	0.83%	10
2014 Q3	$9.22M	Buy	670,000 +170,000	+34%	+$2.34M	0.73%	17
2014 Q2	$8.2M	Buy	+500,000	New	+$8.2M	0.58%	16