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CASCADE INVESTMENT, L.L.C.
> PNM
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2009 | PNM RESOURCES INC | PNM | 7,019,550 | 0 | 57,981,000 | -12,776,000 | $8.26 |
| 12/31/2008 | PNM RESOURCES INC | PNM | 7,019,550 | 0 | 70,757,000 | -1,123,000 | $10.08 |
| 09/30/2008 | PNM RESOURCES INC | PNM | 7,019,550 | 0 | 71,880,000 | -12,074,000 | $10.24 |
| 06/30/2008 | PNM RESOURCES INC | PNM | 7,019,550 | 0 | 83,954,000 | -3,580,000 | $11.96 |
| 03/31/2008 | PNM RESOURCES INC | PNM | 7,019,550 | 0 | 87,534,000 | -63,035,000 | $12.47 |
| 12/31/2007 | PNM RESOURCES INC | PNM | 7,019,550 | 7,019,550 | 150,569,000 | 150,569,000 | $21.45 |
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