Advisory Research’s Holly Energy Partners, L.P. HEP Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2019 Q3	–	Sell	-688,490	Closed	-$18.9M	–	377
2019 Q2	$18.9M	Hold	688,490	–	–	0.37%	74
2019 Q1	$18.6M	Hold	688,490	–	–	0.36%	76
2018 Q4	$19.7M	Hold	688,490	–	–	0.42%	65
2018 Q3	$21.7M	Buy	688,490 +533,955	+346%	+$16.3M	0.35%	72
2018 Q2	$4.37M	Hold	154,535	–	–	0.07%	158
2018 Q1	$4.26M	Hold	154,535	–	–	0.08%	151
2017 Q4	$5.02M	Hold	154,535	–	–	0.08%	151
2017 Q3	$5.16M	Buy	154,535 +15,000	+11%	+$500K	0.08%	151
2017 Q2	$4.53M	Hold	139,535	–	–	0.07%	157
2017 Q1	$4.98M	Hold	139,535	–	–	0.07%	171
2016 Q4	$4.47M	Hold	139,535	–	–	0.07%	136
2016 Q3	$4.73M	Sell	139,535 -51,320	-27%	-$1.74M	0.08%	118
2016 Q2	$6.61M	Hold	190,855	–	–	0.11%	109
2016 Q1	$6.46M	Sell	190,855 -40,000	-17%	-$1.14M	0.12%	117
2015 Q4	$7.19M	Sell	230,855 -46,000	-17%	-$1.49M	0.11%	137
2015 Q3	$8.04M	Sell	276,855 -50,145	-15%	-$1.56M	0.11%	147
2015 Q2	$11.5M	Hold	327,000	–	–	0.13%	152
2015 Q1	$10.3M	Hold	327,000	–	–	0.11%	151
2014 Q4	$9.78M	Sell	327,000 -10,000	-3%	-$329K	0.1%	147
2014 Q3	$12.3M	Sell	337,000 -22,446	-6%	-$783K	0.12%	139
2014 Q2	$12.4M	Buy	359,446 +303,077	+538%	+$10.2M	0.11%	149
2014 Q1	$1.87M	Buy	56,369 +3,923	+7%	+$129K	0.02%	193
2013 Q4	$1.7M	Hold	52,446	–	–	0.02%	209
2013 Q3	$1.73M	Buy	52,446 +2,090	+4%	+$76.1K	0.02%	209
2013 Q2	$1.92M	Buy	+50,356	New	+$1.92M	0.02%	204