Loudon Investment Management’s Energy Transfer Partners, L.P. ETP Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Trade Value	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-24,778	Closed	-$605K	–	89
2017 Q1	$605K	Hold	24,778	–	–	0.46%	53
2016 Q4	$595K	Hold	24,778	–	–	0.46%	47
2016 Q3	$704K	Hold	24,778	–	–	0.55%	47
2016 Q2	$712K	Hold	24,778	–	–	0.57%	45
2016 Q1	$621K	Sell	24,778 -500	-2%	-$12.5K	0.5%	46
2015 Q4	$650K	Hold	25,278	–	–	0.52%	44
2015 Q3	$724K	Hold	25,278	–	–	0.62%	37
2015 Q2	$961K	Hold	25,278	–	–	0.73%	38
2015 Q1	$1.05M	Hold	25,278	–	–	0.79%	40
2014 Q4	$1.06M	Hold	25,278	–	–	0.79%	38
2014 Q3	$1.22M	Hold	25,278	–	–	0.87%	39
2014 Q2	$1.19M	Buy	25,278 +12,639	+100%	+$596K	0.82%	39
2014 Q1	$1.15M	Sell	12,639 -900	-7%	-$81.8K	0.83%	38
2013 Q4	$1.02M	Buy	+13,539	New	+$1.02M	0.75%	38