SPO Advisory’s Pioneer Natural Resource Co. PXD Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q2	–	Sell	-238,946	Closed	-$41M	–	18
2018 Q1	$41M	Sell	238,946 -2,956,500	-93%	-$521M	0.85%	16
2017 Q4	$552M	Sell	3,195,446 -441,000	-12%	-$67.9M	11.45%	2
2017 Q3	$537M	Hold	3,636,446	–	–	10.68%	4
2017 Q2	$580M	Hold	3,636,446	–	–	11.41%	3
2017 Q1	$677M	Hold	3,636,446	–	–	12.22%	3
2016 Q4	$655M	Sell	3,636,446 -2,442,300	-40%	-$447M	13.46%	3
2016 Q3	$1.13B	Hold	6,078,746	–	–	19.8%	1
2016 Q2	$919M	Sell	6,078,746 -1,104,713	-15%	-$173M	18.4%	1
2016 Q1	$1.01B	Sell	7,183,459 -113,105	-2%	-$14M	18.52%	1
2015 Q4	$915M	Hold	7,296,564	–	–	16.01%	2
2015 Q3	$888M	Sell	7,296,564 -54,325	-0.7%	-$6.77M	15.01%	3
2015 Q2	$1.02B	Hold	7,350,889	–	–	15.25%	2
2015 Q1	$1.2B	Buy	7,350,889 +502,000	+7%	+$77.1M	16.52%	3
2014 Q4	$1.02B	Buy	6,848,889 +1,365,900	+25%	+$225M	13.59%	4
2014 Q3	$1.08B	Buy	5,482,989 +451,200	+9%	+$95.5M	14.02%	4
2014 Q2	$1.16B	Hold	5,031,789	–	–	15.28%	2
2014 Q1	$942M	Hold	5,031,789	–	–	14.12%	4
2013 Q4	$926M	Buy	5,031,789 +515,400	+11%	+$99.3M	12.89%	3
2013 Q3	$853M	Sell	4,516,389 -511,000	-10%	-$86.8M	12.48%	3
2013 Q2	$728M	Buy	+5,027,389	New	+$671M	9.79%	5