Gargoyle Investment Advisor’s Valero Energy VLO Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q1	–	Sell	-8,815	Closed	-$810K	–	199
2017 Q4	$810K	Sell	8,815 -9,356	-51%	-$772K	0.32%	84
2017 Q3	$1.4M	Sell	18,171 -2,300	-11%	-$158K	0.54%	76
2017 Q2	$1.38M	Hold	20,471	–	–	0.55%	73
2017 Q1	$1.36M	Hold	20,471	–	–	0.52%	77
2016 Q4	$1.4M	Sell	20,471 -665	-3%	-$40.9K	0.54%	73
2016 Q3	$1.12M	Hold	21,136	–	–	0.42%	86
2016 Q2	$1.08M	Sell	21,136 -12,760	-38%	-$722K	0.4%	91
2016 Q1	$2.17M	Sell	33,896 -15,350	-31%	-$976K	0.73%	68
2015 Q4	$3.48M	Sell	49,246 -6,816	-12%	-$464K	1.42%	7
2015 Q3	$3.37M	Sell	56,062 -510	-0.9%	-$32.4K	1.38%	9
2015 Q2	$3.54M	Hold	56,572	–	–	1.35%	8
2015 Q1	$3.6M	Sell	56,572 -2,208	-4%	-$123K	1.35%	10
2014 Q4	$2.91M	Buy	58,780 +1,400	+2%	+$67.8K	1.07%	42
2014 Q3	$2.65M	Buy	57,380 +32,715	+133%	+$1.65M	1.01%	51
2014 Q2	$1.24M	Buy	24,665 +2,645	+12%	+$146K	0.46%	74
2014 Q1	$1.17M	Buy	22,020 +12,970	+143%	+$664K	0.52%	64
2013 Q4	$456K	Sell	9,050 -9,134	-50%	-$385K	0.22%	105
2013 Q3	$312K	Buy	18,184 +2,211	+14%	+$78.2K	0.19%	97
2013 Q2	$556K	Buy	+15,973	New	+$609K	0.28%	73