NOVARTIS AG

Ticker: NVS CUSIP: 66987V109 Class: SPONSORED ADR

HUSSMAN STRATEGIC ADVISORS, INC.'s Holding History (CIK: 0001179475)

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

Q3 2015
Shares 50,000 Value ($000) $4,596 Avg Close — Range —
Q2 2015
Shares 100,000 Value ($000) $9,834 Avg Close — Range —
Q1 2015
Shares 150,000 Value ($000) $14,792 Avg Close — Range —
Q4 2014
Shares 164,000 Value ($000) $15,196 Avg Close — Range —
Q3 2014
Shares 214,000 Value ($000) $20,144 Avg Close — Range —
Q2 2014
Shares 214,000 Value ($000) $19,373 Avg Close — Range —
Q1 2014
Shares 221,200 Value ($000) $18,806 Avg Close — Range —
Q4 2013
Shares 221,200 Value ($000) $17,780 Avg Close — Range —
Q3 2013
Shares 221,200 Value ($000) $16,968 Avg Close — Range —
Q2 2013
Shares 218,900 Value ($000) $15,478 Avg Close — Range —