| Ticker | Action | Number of Shares Bought/Sold | Value of Shares Added/Sold | Average Price paid for previous share BUYs |
|---|
| SLVM - Sylvamo Corp | BUY | 63,070 @ USD 67.07 | USD 4,230,105 | |
| CLW - Clearwater Paper Corporation | BUY | 163,091 @ USD 25.37 | USD 4,137,619 | |
| SW - Smurfit WestRock plc | BUY | 63,844 @ USD 45.06 | USD 2,876,811 | |
| STERV.HE - Stora Enso Oyj | BUY | 265,851 @ EUR 9.41286 | EUR 2,502,418 | |
| KLBN11.SA - | BUY | 635,955 @ BRL 3.25788 | BRL 2,071,865 | |
| SUZB3.SA - | BUY | 211,689 @ BRL 9.24288 | BRL 1,956,616 | |
| WY - Weyerhaeuser Company | BUY | 50,339 @ USD 29.28 | USD 1,473,926 | |
| 3863.T - Nippon Paper Industries Co., Ltd. | BUY | 189,400 @ JPY 6.74067 | JPY 1,276,683 | |
| WFG.TO - West Fraser Timber Co Ltd | BUY | 13,002 @ CAD 76.7969 | CAD 998,513 | |
| UPM.HE - UPM-Kymmene Oyj | BUY | 26,436 @ EUR 26.6809 | EUR 705,336 | |
| 1911.T - Sumitomo Forestry Co., Ltd. | BUY | 20,400 @ JPY 30.1525 | JPY 615,111 | |
| DXCO3.SA - | BUY | 649,066 @ BRL 0.939303 | BRL 609,670 | |
| 002078.SZ - Shandong Sun Paper Co., Ltd. | BUY | 250,600 @ CNY 2.02453 | CNY 507,347 | |
| 2689.HK - ND PAPER | BUY | 1,133,000 @ HKD 0.422863 | HKD 479,104 | |
| SAP.JO - | BUY | 236,487 @ ZAR 1.96771 | ZAR 465,338 | |
| MNDI.L - Mondi PLC | BUY | 23,088 @ GBP 14.8114 | GBP 341,966 | |
| HOLM-B.ST - | BUY | 7,933 @ SEK 39.5417 | SEK 313,684 | |
| 3865.T - Hokuetsu Corporation | BUY | 20,800 @ JPY 8.17173 | JPY 169,972 | |
| 1202.SAU - | HOLD | 0 @ SAR 8.31756 | SAR 0 | |
| KLBN4.SA - | HOLD | 0 @ BRL 0.666667 | BRL 0 | |
| IP - International Paper | SELL | -6,797 @ USD 53.35 | USD -362,620 | The sold shares were bought for an average price of 55.83. Shares sold for -4.4% lower than average price of previous purchases. This resulted in an overall loss of USD 16,857 |
| RYN - Rayonier Inc | SELL | -13,930 @ USD 27.88 | USD -388,368 | The sold shares were bought for an average price of 26.2776. Shares sold for 6.1% higher than average price of previous purchases. This sale made a profit of USD 22,321 |
| BILL.ST - | SELL | -65,759 @ SEK 10.3035 | SEK -677,548 | The sold shares were bought for an average price of 10.3037. Shares sold for 0.0% lower than average price of previous purchases. This resulted in an overall loss of SEK 13 |
| 3861.T - Oji Holdings Corporation | SELL | -237,500 @ JPY 4.1942 | JPY -996,123 | The sold shares were bought for an average price of 3.91511. Shares sold for 7.1% higher than average price of previous purchases. This sale made a profit of JPY 66,284 |
| CMPC.SN - | SELL | -1,299,118 @ CLP 1.6387 | CLP -2,128,865 | The sold shares were bought for an average price of 1.67766. Shares sold for -2.3% lower than average price of previous purchases. This resulted in an overall loss of CLP 50,614 |
| SCA-B.ST - | SELL | -401,251 @ SEK 13.1656 | SEK -5,282,710 | The sold shares were bought for an average price of 13.7097. Shares sold for -4.0% lower than average price of previous purchases. This resulted in an overall loss of SEK 218,321 |
| PCH - PotlatchDeltic Corp | SELL | -140,192 @ USD 45.12 | USD -6,325,463 | The sold shares were bought for an average price of 39.172. Shares sold for 15.2% higher than average price of previous purchases. This sale made a profit of USD 833,862 |