Ivory Investment Management’s Norfolk Southern NSC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q4	–	Sell	-421,953	Closed	-$41M	–	76
2016 Q3	$41M	Sell	421,953 -322,980	-43%	-$31.3M	1.17%	31
2016 Q2	$63.4M	Buy	744,933 +537,378	+259%	+$45.7M	1.75%	14
2016 Q1	$17.3M	Buy	+207,555	New	+$17.3M	0.6%	45