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EULAV ASSET MANAGEMENT, LLC
> PBR
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2011 | PETROBRAS - PETROLEO BRASILEIRO SA | PBR | 0 | -65,000 | 0 | -2,201,000 | |
| 06/30/2011 | PETROBRAS - PETROLEO BRASILEIRO SA | PBR | 65,000 | 0 | 2,201,000 | -427,000 | $33.86 |
| 03/31/2011 | PETROBRAS - PETROLEO BRASILEIRO SA | PBR | 65,000 | 0 | 2,628,000 | 168,000 | $40.43 |
| 12/31/2010 | PETROBRAS - PETROLEO BRASILEIRO SA | PBR | 65,000 | 65,000 | 2,460,000 | 2,460,000 | $37.85 |
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