Confluence Investment Management’s SM Energy SM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q1	–	Sell	-4,047	Closed	-$336K	–	264
2013 Q4	$336K	Sell	4,047 -1,856	-31%	-$154K	0.02%	235
2013 Q3	$456K	Sell	5,903 -115	-2%	-$8.88K	0.03%	212
2013 Q2	$361K	Buy	+6,018	New	+$361K	0.02%	222