Pharo Management

Pharo Management as of Dec. 31, 2010

Portfolio Holdings for Pharo Management

Pharo Management holds 3 positions in its portfolio as reported in the December 2010 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares FTSE/Xinhua China 25 Index (FXI) 87.1 $103M 2.4M 43.09
iShares MSCI Emerging Markets Indx (EEM) 11.0 $13M 272k 47.64
Mosaic Company 1.9 $2.3M 30k 76.37