Arlington Value Capital’s IBM IBM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q3	–	Sell	-161,492	Closed	-$28M	–	15
2014 Q2	$28M	Buy	161,492 +4,021	+3%	+$697K	6.16%	7
2014 Q1	$29M	Buy	157,471 +23,038	+17%	+$4.24M	7.45%	6
2013 Q4	$24.1M	Buy	+134,433	New	+$24.1M	6.92%	6