Kovack Advisors, Inc.

Holdings History for CLIFFS NATURAL RESOURCES - COMMON STOCK (CLF)

Symbol: CLF on NYSE
Investment type: Equity / COMMON STOCK

Holdings date	Weight	Change	Value $	Shares	Change	Activity %	Price	All Holders
31 Mar 2013		-3.2%	$0	0	-13,350	-100%	$8.00	Q1 2013
31 Dec 2012	3.2%	+0.78%	$515,000	13,350	+3,275	+33%	$38.58	Q4 2012
30 Sep 2012	2.4%	0%	$394,000	10,075	0		$39.11	Q3 2012

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.