Elm Ridge Management’s United Airlines UAL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2013 Q4	–	Sell	-273,642	Closed	-$8.4M	–	66
2013 Q3	$8.4M	Buy	273,642 +89,285	+48%	+$2.74M	0.91%	41
2013 Q2	$5.77M	Buy	+184,357	New	+$5.77M	0.68%	50