ANNALY CAP MGMT INC

CUSIP: 035710AB8 Class: CNV

Cutler Capital Management, LLC's Holding History (CIK: 0001353098)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015
Shares 3,210,000 Value ($000) $3,218 Avg Close — Range —
Q4 2014
Shares 3,310,000 Value ($000) $3,326 Avg Close — Range —
Q3 2014
Shares 3,500,000 Value ($000) $3,535 Avg Close — Range —
Q2 2014
Shares 4,340,000 Value ($000) $4,438 Avg Close — Range —
Q1 2014
Shares 4,340,000 Value ($000) $4,443 Avg Close — Range —
Q4 2013
Shares 3,850,000 Value ($000) $3,896 Avg Close — Range —
Q3 2013
Shares 3,850,000 Value ($000) $3,922 Avg Close — Range —
Q2 2013
Shares 3,515,000 Value ($000) $3,546 Avg Close — Range —