PANGAEA LOGISTICS SOLUTION L

Ticker: PANL CUSIP: G6891L105 Class: Foreign Stock

MERCER GLOBAL ADVISORS INC /ADV's Holding History (CIK: 0000853758)

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

Q4 2025

Shares 14,476 Value ($000) $100 Avg Close $6.02 Range $4.51 - $7.42

Q3 2025

Shares 14,398 Value ($000) $73 Avg Close $5.10 Range $4.39 - $5.71

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,476	$100	$6.02	$4.51 - $7.42
Q3 2025	14,398	$73	$5.10	$4.39 - $5.71