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Black Horse Capital Advisors LLC
> CVA
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2009 | COVANTA HOLDING CORP | CVA | 0 | -222,147 | 0 | -4,878,000 | |
| 12/31/2008 | COVANTA HOLDING CORP | CVA | 222,147 | 0 | 4,878,000 | -440,000 | $21.96 |
| 09/30/2008 | COVANTA HOLDING CORP | CVA | 222,147 | 222,147 | 5,318,000 | 5,318,000 | $23.94 |
| 06/30/2008 | COVANTA HOLDING CORP | CVA | 222,147 | 222,147 | 5,929,000 | 5,929,000 | $26.69 |
| 03/31/2008 | COVANTA HOLDING CORP | CVA | 222,147 | 222,147 | 6,109,000 | 6,109,000 | $27.50 |
| 12/31/2007 | COVANTA HOLDING CORP | CVA | 222,147 | 222,147 | 6,145,000 | 6,145,000 | $27.66 |
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