PAR PAC HOLDINGS INC

Ticker: PARR CUSIP: 69888T207 Class: Common Stock

MAD RIVER INVESTORS's Holding History (CIK: 0001384484)

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

Q2 2015

Shares 117,385 Value ($000) $2,197 Avg Close $23.11 Range $18.11 - $25.67

Q1 2015

Shares 117,627 Value ($000) $2,730 Avg Close $18.96 Range $15.80 - $23.38

Q4 2014

Shares 111,860 Value ($000) $1,818 Avg Close $15.34 Range $12.53 - $16.85

Q3 2014

Shares 130,800 Value ($000) $2,204 Avg Close $18.31 Range $14.00 - $21.25

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	117,385	$2,197	$23.11	$18.11 - $25.67
Q1 2015	117,627	$2,730	$18.96	$15.80 - $23.38
Q4 2014	111,860	$1,818	$15.34	$12.53 - $16.85
Q3 2014	130,800	$2,204	$18.31	$14.00 - $21.25