| SUN VALLEY INVESTMENTS AG | 170,409,548 | 56.85% |
| CORPORACION FINANCIERA COLOMBIANA S.A. | 23,850,263 | 7.96% |
| NEGOCIOS Y REPRESENTACIONES S.A.S. | 6,091,948 | 2.03% |
| FONDO BURSATIL HORIZONS COLOMBIA SELECT DE S&P | 5,570,529 | 1.86% |
| TORRADO TORRADO MARTHA EUGENIA | 3,332,372 | 1.11% |
| C.I.J. GUTIERREZ Y CIA. S.A. (EN TOMA DE POSESION) | 2,479,632 | 0.83% |
| MARTDOS S.A.S | 1,994,146 | 0.67% |
| VASQUEZ MERCHAN Y CIA S C A | 1,792,682 | 0.60% |
| FONDO BURSATIL ISHARES MSCI COLCAP | 1,463,613 | 0.49% |
| ESCOPIEDRA SAS | 1,366,000 | 0.46% |
| ESCOBAR RESTREPO CARLOS RICARDO RAMIRO | 1,115,357 | 0.37% |
| INVERSIONES SANIN PEREZ SAS | 1,035,299 | 0.35% |
| SELALHIS S.A. | 1,000,000 | 0.33% |
| RODRIGUEZ TORRADO MANUEL ALEJANDRO | 956,420 | 0.32% |
| ARANGO LOPEZ JORGE EUSEBIO | 884,335 | 0.30% |
| ESCOBAR ROMERO JORGE ANDRES | 837,014 | 0.28% |
| INVERSIONES EL YARUMO SAS | 791,584 | 0.26% |
| MART INVERSIONES S A S | 776,116 | 0.26% |
| AYURA SAS | 754,323 | 0.25% |
| INVERSIONES SHAKA SAS | 681,259 | 0.23% |
| MEJIA HERNANDEZ OLGA | 663,507 | 0.22% |
| CORZO PINTO SORAYA | 593,500 | 0.20% |
| MORENO ECHAVARRIA ALFONSO | 563,874 | 0.19% |
| BALEN URRUTIA CARLOS EDUARDO | 523,330 | 0.17% |
| NELLYRAM SAS | 511,027 | 0.17% |
| OTHER SHAREHOLDERS – COLOMBIA | 45,970,164 | 15.34% |
| CDS + OTHER SHAREHOLDERS – CANADA | 23,729,560 | 7.92% |
