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Xaraf Management LLC
> PNRA
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2012 | PANERA BREAD CO | PNRA | 0 | -24,000 | 0 | -4,101,000 | |
| 09/30/2012 | PANERA BREAD CO | PNRA | 24,000 | 17,300 | 4,101,000 | 3,589,000 | $170.88 |
| 03/31/2010 | PANERA BREAD CO | PNRA | 6,700 | 6,700 | 512,000 | 512,000 | $76.42 |
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