MBIA INC

Ticker: MBI CUSIP: 55262C100 Class: Common Stock

Hudson Bay Capital Management LP's Holding History (CIK: 0001393825)

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

Q1 2014

Shares 465,457 Value ($000) $6,512 Avg Close $5.56 Range $4.66 - $6.66

Q4 2013

Shares 641,987 Value ($000) $7,665 Avg Close $5.03 Range $4.18 - $5.76

Q3 2013

Shares 669,181 Value ($000) $6,846 Avg Close $5.49 Range $4.43 - $6.15

Q2 2013

Shares 1,261,398 Value ($000) $16,789 Avg Close $5.48 Range $3.81 - $7.04

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	465,457	$6,512	$5.56	$4.66 - $6.66
Q4 2013	641,987	$7,665	$5.03	$4.18 - $5.76
Q3 2013	669,181	$6,846	$5.49	$4.43 - $6.15
Q2 2013	1,261,398	$16,789	$5.48	$3.81 - $7.04