HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

TIFF ADVISORY SERVICES, LLC's Holding History (CIK: 0001271347)

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

Q1 2019

Shares 6,119 Value ($000) $36 Avg Close $5.42 Range $4.95 - $5.96

Q4 2018

Shares 9,815 Value ($000) $54 Avg Close $5.85 Range $4.75 - $6.63

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2019	6,119	$36	$5.42	$4.95 - $5.96
Q4 2018	9,815	$54	$5.85	$4.75 - $6.63