Black River Asset Management

Black River Asset Management as of June 30, 2011

Portfolio Holdings for Black River Asset Management

Black River Asset Management holds 39 positions in its portfolio as reported in the June 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Spdr S&p 500 Etf (SPY) 15.5 $84M 636k 131.97
Tyson Foods (TSN) 6.5 $35M 1.8M 19.42
Oil Service HOLDRs 5.6 $30M 200k 152.00
SPDR Gold Trust (GLD) 5.4 $29M 200k 146.00
Arch Coal 5.1 $27M 1.0M 26.66
Spdr S&p 500 Etf (SPY) 5.0 $27M 203k 131.97
Peabody Energy Corporation 4.4 $24M 402k 58.91
Schlumberger (SLB) 4.3 $23M 270k 86.40
CONSOL Energy 4.2 $23M 465k 48.48
Noble Energy 3.6 $19M 216k 89.63
Tyson Foods (TSN) 3.5 $19M 988k 19.42
Anadarko Petroleum Corporation 3.0 $16M 214k 76.76
Caterpillar (CAT) 2.9 $16M 150k 105.87
Alpha Natural Resources 2.9 $16M 345k 45.44
Ens 2.3 $13M 235k 53.30
Arch Coal 2.2 $12M 451k 26.66
iShares MSCI Brazil Index (EWZ) 2.2 $12M 164k 73.35
Schnitzer Steel Industries (RDUS) 2.1 $12M 201k 57.60
Baker Hughes Incorporated 1.9 $11M 145k 72.56
Adecoagro S A (AGRO) 1.8 $9.7M 871k 11.16
Petrohawk Energy Corporation 1.8 $9.7M 392k 24.67
Pilgrim's Pride Corporation (PPC) 1.6 $8.7M 1.6M 5.41
Sanderson Farms 1.6 $8.5M 178k 47.78
Halliburton Company (HAL) 1.5 $8.2M 160k 51.00
National-Oilwell Var 1.4 $7.8M 100k 78.21
National-Oilwell Var 1.4 $7.5M 96k 78.21
Patterson-UTI Energy (PTEN) 1.0 $5.6M 176k 31.61
Plains Exploration & Production Company 0.9 $4.7M 123k 38.12
Core Laboratories 0.8 $4.4M 39k 111.53
Nucor Corporation (NUE) 0.8 $4.1M 100k 41.22
Patriot Coal Corp 0.7 $3.7M 168k 22.26
Bill Barrett Corporation 0.6 $3.5M 75k 46.35
Steel Dynamics (STLD) 0.3 $1.9M 115k 16.25
Vimpel 0.3 $1.4M 110k 12.85
Mechel Oao spon adr p 0.2 $1.1M 124k 8.52
BMB Munai (KAZ) 0.2 $1.1M 1.1M 1.00
Overseas Shipholding 0.1 $580k 18k 32.22
Genco Shipping & Trading 0.1 $376k 50k 7.52
Frontline Limited Usd2.5 0.0 $221k 15k 14.73