Spark Investment Management’s Pan American Silver PAAS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q4	–	Sell	-111,000	Closed	-$1.89M	–	781
2017 Q3	$1.89M	Sell	111,000 -31,000	-22%	-$534K	0.1%	276
2017 Q2	$2.39M	Sell	142,000 -68,000	-32%	-$1.18M	0.15%	216
2017 Q1	$3.67M	Sell	210,000 -70,000	-25%	-$1.27M	0.23%	127
2016 Q4	$4.22M	Buy	280,000 +92,000	+49%	+$1.48M	0.35%	68
2016 Q3	$3.31M	Buy	188,000 +112,000	+147%	+$2.09M	0.27%	111
2016 Q2	$1.25M	Buy	+76,000	New	+$1.09M	0.12%	271
2014 Q3	–	Sell	-48,000	Closed	-$736K	–	707
2014 Q2	$736K	Buy	48,000 +24,000	+100%	+$318K	0.11%	275
2014 Q1	$308K	Buy	+24,000	New	+$321K	0.05%	443
2013 Q4	–	Sell	-25,000	Closed	-$263K	–	687
2013 Q3	$263K	Buy	+25,000	New	+$304K	0.06%	396