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Emancipation Management LLC
> NRT
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2021 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 1,193,193 | 1,160,026 | 11,943,862 | 11,747,862 | $10.01 |
| 07/09/2021 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 994,363 | 961,196 | 7,059,977 | 6,863,977 | $7.10 |
| 12/31/2019 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 33,167 | -198,684 | 196,000 | -1,216,000 | $5.91 |
| 09/30/2019 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 231,851 | -202,757 | 1,412,000 | -1,666,000 | $6.09 |
| 06/30/2019 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 434,608 | 274 | 3,078,000 | 90,000 | $7.08 |
| 03/31/2019 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 434,334 | -11,515 | 2,988,000 | 402,000 | $6.88 |
| 12/31/2018 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 445,849 | 95,862 | 2,586,000 | -116,000 | $5.80 |
| 09/30/2018 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 349,987 | 20,782 | 2,702,000 | 39,000 | $7.72 |
| 06/30/2018 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 329,205 | 21,423 | 2,663,000 | 116,000 | $8.09 |
| 03/31/2018 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 307,782 | 172,682 | 2,547,000 | 1,607,000 | $8.28 |
| 12/31/2017 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 135,100 | -6,670 | 940,000 | -46,000 | $6.96 |
| 09/30/2017 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 141,770 | -5,000 | 986,000 | -6,000 | $6.95 |
| 06/30/2017 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 146,770 | -8,330 | 992,000 | -128,000 | $6.76 |
| 03/31/2017 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 155,100 | 75,801 | 1,120,000 | 597,000 | $7.22 |
| 12/31/2016 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 79,299 | 16,000 | 523,000 | 37,000 | $6.60 |
| 09/30/2016 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 63,299 | 50,042 | 486,000 | 355,000 | $7.68 |
| 06/30/2016 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 124,815 | 32,037 | 1,188,000 | 504,000 | $9.52 |
| 03/31/2016 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 116,678 | 23,900 | 908,000 | 224,000 | $7.78 |
| 12/31/2015 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 92,778 | 79,521 | 684,000 | 553,000 | $7.37 |
| 09/30/2015 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 13,257 | 13,257 | 131,000 | 131,000 | $9.88 |
| 06/30/2015 | NORTH EUROPEAN OIL ROYALTY TRUST | NRT | 11,912 | 11,912 | 135,000 | 135,000 | $11.33 |
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