BLACK RIVER ASSET MANAGEMENT LLC Information

9320 EXCELSIOR BLVD., HOPKINS, Minnesota, 55343, (952) 984-3557

Report Date: 09/30/2014

Position Statistics

Total Positions 27
New Positions 5
Increased Positions 13
Decreased Positions 13
Positions with Activity 26
Sold Out Positions 10
Total Mkt Value (in $ millions) 83

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0%
Capital Goods 1.09%
Conglomerates
Consumer Cyclical 2.5%
Consumer/Non-Cyclical 6.52%
Energy 12.24%
Financial 22.76%
Healthcare 0%
Services 28.51%
Technology
Transportation
Utilities 0%

27 Positions as of 09/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
GRUPO AVAL ACCIONES Y VALORES SPONSORED ADS 21,780 21,780 New 2,000,000
LIBERTY GLOBAL PLC SHS CL C 9,332 -759 (7.52) 190,260
INTERNATIONAL GAME TECHNOLOGY COM 7,370 7,370 New 430,000
YPF SOCIEDAD ANONIMA SPON ADR CL D 7,224 32 .45 263,271
HUDSON CITY BANCORP COM 7,073 New 690,000
LORILLARD INC COM 4,963 4,963 New 78,229
TIME WARNER CABLE INC COM 4,718 3,020 177.78 31,250
BANCO MACRO SA SPON ADR B 4,323 731 20.34 98,251
GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 3,502 826 30.85 216,167
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 2,791 2,791 New 567,310
TRANSPORTADORA DE GAS SUR SPON ADR B 2,304 284 14.03 652,584
TELECOM ARGENTINA S A SPON ADR REP B 2,118 456 27.47 104,335
SHANDA GAMES LTD SP ADR REPTG A 2,063 287 16.13 360,000
BBVA BANCO FRANCES S A SPONSORED ADR 1,107 -305 (21.59) 77,823
ALLIANT TECHSYSTEMS INC COM 903 903 New 8,000
PETROBRAS ARGENTINA S A SPONS ADR 576 455 377.54 115,617
CRESUD S A C I F Y A SPONSORED ADR 421 -215 (33.79) 40,181
ACTAVIS PLC SHS -5,822 Sold Out 0
BHP BILLITON PLC SPONSORED ADR -3,143 Sold Out 0
COVIDIEN PLC SHS -4,512 Sold Out 0