Herndon Capital Management’s Cleveland-Cliffs CLF Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-94,166	Closed	-$1.93M	–	166
2014 Q1	$1.93M	Sell	94,166 -39,931	-30%	-$817K	0.02%	92
2013 Q4	$3.51M	Sell	134,097 -13,672	-9%	-$358K	0.04%	81
2013 Q3	$3.03M	Sell	147,769 -21,117	-13%	-$433K	0.04%	83
2013 Q2	$2.74M	Buy	+168,886	New	+$2.74M	0.04%	87